Rising prevalence of autoimmune diseases is the major driver attributing towards the growth of the autoimmune treatment market. As per the statistics published by the National Institute of Health (NIH), around 23.5 million people in U.S. alone suffer from autoimmune disease thereby leading to increasing need of developing apt treatment procedures and devices. Furthermore, slow turnaround associated with the autoimmune disease diagnostics procedures is also affecting the market growth positively. Rising public awareness towards the availability of various alternatives for treatment is expected to further boost the market growth during the forecast period. Growing initiatives by the government and pharmaceutical companies to enhance the R&D initiatives to develop new drugs and therapies is expected to boost the market in the coming six years.
The autoimmune treatment market is bifurcated on the basis of application into localized autoimmune diseases and systemic autoimmune diseases. The systematic autoimmune disease is further sub-segmented into rheumatoid arthritis, psoriasis, lupus, and others. Rheumatoid arthritis dominated the market under the systemic autoimmune diseases segment. Rising prevalence of this disease coupled with growing patient awareness levels accounted for the major share of this market. Multiple sclerosis, dominated the market under localized autoimmune disease. On the basis of products the market is segmented into diagnostic equipments, drugs, and therapeutic & monitoring equipments. Some major drugs analyzed in the study include non-steroidal anti-inflammatory drugs (NSAID), glucocorticoids, methotrexate, anthralin, avonex and hydroxychloroquine (HCQ). The drugs as well as therapy & monitoring market is expected to grow substantially, due to the fact that almost all the autoimmune diseases are chronic in nature with no permanent cure.
Regionally North America dominated the autoimmune treatment market. Availability of high disposable income with the population of this region along with the presences of large patient base suffering from various autoimmune disorders contributed towards the growth of this region. Asia Pacific is expected to witness substantial growth during the forecast period as a consequence of rapidly improving healthcare infrastructure coupled with rising patient awareness levels regarding the early treatment of the autoimmune disorders.
The major companies operating in the global autoimmune treatment market are Abbott Laboratories, Amgen, Johnson & Johnson, Eli Lilly & Co., Pfizer, Roche, Astrazeneca Plc and Bristol-Myers Squibb Co. The market of autoimmune treatments is consolidated and the companies are involved in developing novel drugs and technology to maintain their pace and retain substantial share in the market.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.