New York, USA, Jan. 18, 2021 (GLOBE NEWSWIRE) -- As per a Research Dive published report, the global antinuclear antibody testing market valued for $1,080.1 million in 2018 and is expected to surpass $2,766.5 million by 2027, exhibiting a CAGR of 13.0% in the forecast period from 2019 to 2027. As per our analysts, the rising cases of autoimmune diseases across the globe is the major factor expected to boost the growth of the global market over the forecast period. Moreover, the growing investment in developing test kits is estimated to create massive growth opportunities for the global market in the coming future. On the contrary, strict government rules & regulations regarding the approval of various medical equipment is expected to hamper the market growth in the near future.
Impact of COVID-19 on the Industry
The outbreak of COVID-19 around the world has progressively impacted the global antinuclear antibody testing market. This progressive growth is majorly owing to the surge in the number of people taking antinuclear antibody test during the pandemic to evaluate autoimmune disorders.
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Reagents & Assay Kits Segment to be Most Lucrative
By product, the reagents & assay kits segment is estimated to have majority of market share in the forecast period and grow at a CAGR of 13.6% from 2019 to 2027. This growth is majorly owing to the increasing usage of these kits for various R&D purposes for better understanding of various type of diseases.
ELISA Segment to Hold Largest Market Share
By technique, the ELISA segment is predicted to grow at a CAGR of 13.7% and hold a significant share in the global market by 2027, mainly because ELISA is a rapid test and displays results at a faster pace compared to other testing techniques.
Rheumatoid Arthritis Segment to be Most Profitable
By application, the rheumatoid arthritis segment accounted for $752.3 million in 2019 and is expected to account for the majority of market share by 2027. This is majorly owing to the growing geriatric population and the rising prevalence of rheumatoid arthritis around the world.
Hospital Segment to Grow at Significant Rate
By end use, the hospital segment is predicted to hold the highest share and grow at a CAGR of 12.5% during the estimated timeframe. This is mainly due to the rise in home care facilities provided by hospitals and a surge in patient satisfaction.
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North America Region to Create Massive Growth Opportunities
By region, the North America market for antinuclear antibody testing is predicted to exhibit a CAGR of 11.9% and account for the highest market share in the projected timeframe. The rising incidence of autoimmune diseases and the growth in geriatric population in the region are projected to drive the regional market growth by 2027.
Top Major Market Players
The key players operating in the global antinuclear antibody testing market include -
- Bio-Rad Laboratories, Inc.
- Erba Diagnostics
- Trinity Biotech Plc.
- Antibodies Incorporated
- Thermo Fisher Scientific
- EUROIMMUN Medizinische Labordiagnostika AG
- Inova Diagnostics, Inc.
- Immuno Concepts NA Ltd.
- ZEUS Scientific, Inc.
Further, the report presents and outlines several aspects of these key players such as recent strategic moves, developments, business performance, product portfolio, and SWOT analysis.
In June 2018, Grifols got the US Food & Drug Administration (FDA) approval for its new ‘HELIOS Automated System’ for IFA that is used as diagnosis examination for ANCA-associated Vasculitis and Lupus. The automated tests enable labs to speed up and standardize diagnosis using IFA.
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