New York, USA, Sept. 27, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global antinuclear antibody testing market is projected to generate a revenue of $2,766.5 million and grow at 13.0% CAGR during the 2019-2027 forecast period. The extensive report provides a concise layout of the market’s current framework including prime aspects of the market such as growth elements, challenges, restraints and various opportunities during the predicted timeframe of 2019-2027. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Market
Drivers: Growing cases of autoimmune diseases among people and the consequent demand for ANA tests along with government’s increasing awareness initiatives about the benefits of medical insurance programs are some major factors predicted to drive the global antinuclear antibody testing market during the 2019-2027 analysis timeframe.
Opportunities: Increasing investments for the automation of medical laboratories in the developing regions along with the upliftment of healthcare infrastructure and test kits are some factors to offer abundant growth opportunities for the global antinuclear antibody testing market during the forecast period.
Restraints: Stringent government regulations on the approval and adoption of antinuclear antibody medical devices is the prime impeding factor for the market growth.
Covid-19 Impact on the Market
The covid-19 catastrophe has positively impacted the global antinuclear antibody testing market unlike most industries due to increasing deployment of several vaccines and other treatment methods to cure people. Due to the growing cases of covid-19, many people started taking antinuclear antibody tests to evaluate autoimmune disorders and kept a tab on their health. Additionally, multiple healthcare institutions took significant steps towards the development of numerous medical insurances, laboratories, and other establishments. These factors are estimated to boost the market growth post the pandemic stress.
Segments of the Market
According to the report, the global antinuclear antibody testing market is divided into multiple segments based on product, technique, application, end-use, and regional analysis.
Product: Reagents & Assay Kits Sub-segment to be Most Dominant
The reagents & assay kits sub-segment is anticipated to hold a dominant market share and gather a revenue of $642.1 million during the forecast years due to the growing demand for these kids for several R&D purposes for the understanding of various types of diseases.
Technique: ELISA Sub-segment to be Highly Lucrative
The ELISA sub-segment of the global antinuclear antibody testing market is expected to have the fastest growth rate of 13.7% CAGR during the 2019-2027 analysis period since the ELISA tests provide faster and more accurate results as compared to other testing techniques available in the market.
Application: Rheumatoid Arthritis Sub-segment to be Highly Progressive
The rheumatoid arthritis sub-segment is predicted to have a noteworthy growth rate of 13.5% CAGR during the forecast timeframe due to rising geriatric population across the globe and growing occurrence of rheumatoid arthritis among elderly people.
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End-use: Hospitals Sub-segment to be Most Beneficial
The hospitals sub-segment of the global antinuclear antibody testing market is projected to hold a significant market share and grow at 12.5% CAGR by 2027 due to numerous benefits offered by hospitals like growing homecare facilities, assurance of patient satisfaction, and outpatient services.
Region: Market in the North America Region to Witness Abundant Growth Opportunities
The antinuclear antibody testing market in the North America region is estimated to witness abundant growth opportunities and grow at 11.9% CAGR during the forecast years due to rising cases of autoimmune diseases along with growing geriatric population across the region that is prone to autoimmune diseases.
Prominent Market Players
Some prominent antinuclear antibody testing market players are
- EUROIMMUN Medizinische Labordiagnostika AG
- Trinity Biotech Plc
- Inova Diagnostics Inc.
- Bio-Rad Laboratories, Inc.
- Antibodies Incorporated
- Immuno Concepts NA Ltd.
- Erba Diagnostics
- ZEUS Scientific Inc.
- Thermo Fisher Scientific
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth.
For example, in August 2022, AstraZeneca, a British-Swedish multinational pharmaceutical and biotechnology firm, announced its collaboration with Merck Group, a German multinational science and technology organization, to develop LYNPARZA, a medication for the maintenance and treatment of BRCA-mutated advanced ovarian cancer, and get approval from the European Commission on the same.
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
More about Antinuclear Antibody Test Market:
- What Diseases can be Associated with a Positive Antinuclear Antibody Test?
- Antinuclear Antibody Testing: What is it, When to Take the Test, Interpretations of Test, and Autoimmune Diseases Associated with it
- Global Antinuclear Antibody Test Market to Witness Widespread Growth with Growing Prevalence of Autoimmune Diseases Worldwide
