Antinuclear Antibody Testing Market Predicted to Generate a Revenue of $ 2,766.5 Million by 2027, with a CAGR of 13.0% - Research DiveDownload Sample Reports Overview
Antinuclear antibody market is projected to reach $2,766.5 million by 2027 growing at a CAGR of 13.0% in the estimated timeframe.
Antinuclear antibody tests are used to evaluate the existence of autoimmune disorders in an individual. These tests are used to detect the presence of antinuclear antibodies in the blood serum. Antinuclear antibodies are antibodies that bind to the content of cell nucleus. Some of the tests that are used to evaluate antibodies are enzyme linked immunosorbent assay (ELISA), indirect immunofluorescence, and many other.
The novel coronavirus is predicted to have a positive impact on the global antinuclear antibody testing market. Increasing number of people opted with medical insurance are significantly boosting the growth of the market as government of various countries across the globe are implementing several initiatives to promote health insurance programs to provide financial confidence for family. The lockdown has had a desirable impact on the global antinuclear antibody market growth in 2020. In addition, increase in the number of people taking antinuclear antibody test to evaluate autoimmune disorders during the pandemic is predicted to drive the demand of antinuclear antibody test kits during the pandemic.
Growth in the number of individuals opting medical insurance is predicted to be a major driving factor for the global antinuclear antibody test market in the estimated period. Several government bodies are implementing several initiatives to promote health insurance programs to provide financial confidence for family, which is estimated to boost the market growth in the forecast years. For instance, Australia introduced universal health care bill in parliament in 1973, China achieved universal insurance coverage in 2011, England has established National Health Service in 1948. Moreover, rising cases of autoimmune disorders among the population is predicted to drive the market in the estimated period.
The person associated with ANA testing should have understanding of technology as well as understanding of the disease. Without having understanding of both, a person cannot execute the test. Lack of skilled labor to operate the testing kits is predicted to be the biggest restraint for the global market in the estimated period. In addition, the cost involved in testing is very high due to which everyone cannot afford the test, which is predicted to hinder the market growth in the estimated period.
Reagents & assay kits sub-segment is predicted to have the highest market share in the estimated period. The reagents & assay kits sub-segment is projected to reach $1,711.6 million by 2027, growing at a CAGR of 13.6% in the estimated time frame. The test kits are mostly used in life science research, drug discovery & development, environmental monitoring and studying disease pathways, screening for potential drug candidates and evaluating biopharmaceutical production processes for various research and development purpose. Such wide applications are predicted to boost the market in the estimated period.
The ELISA sub segment is predicted to reach $1,159.6 million by 2027, growing at a CAGR of 13.7% in the forecast period. Enzyme-linked immunosorbent assay (ELISA)-based test is a laboratory technique used for the detection of antibodies that are produced by the body to fight against antigens or foreign substance at a faster rate.
Rheumatoid arthritis sub-segment is predicted to have the highest growth rate and market share by the end of 2027. The rheumatoid arthritis sub segment is projected to reach $1,993.1 million by 2027, growing at a CAGR of 13.5% in the forecast period. Rheumatoid arthritis is mostly found in geriatric population. Rise in the geriatric population with the rise in the cases of rheumatoid arthritis among the pollution at a faster rate is predicted to drive the sub-segment market in the estimated period.
Physician office laboratories end use is predicted to have the maximum growth rate in the estimated period. The physician office laboratories end use is projected to reach $615.2 million by 2027, growing at a CAGR of 14.0% in the estimated time frame. Quicker access to test results that lead to more treatment options for the patient with cheaper testing method is predicted to be the major driving factor for the physician office laboratory sub-segment in the estimated period
Asia-Pacific region market is predicted to have the highest growth rate in the forecast period. The Asia-Pacific region market is projected to reach $636.3 million by 2027, growing at a CAGR of 15.3% in the estimated time frame. Increasing collaborations among healthcare service providers and growing number autoimmune diseases such as rheumatoid arthritis are predicted to be major driving factors for the regional market in the estimated period. In addition to this, major players operating in antinuclear antibody of the Asia-Pacific region are following various strategies to grow in the global marketplace. For instance, In March 2020, Indian drug maker Cadila Healthcare came into an acquisition of Heinz India where the company announced that it has received an approval to conduct clinical trials in India for a new drug that may cure rheumatoid arthritis.
Top Significant Antinuclear Antibody Testing Market Players include -
- Erba Diagnostics
- Bio-Rad Laboratories, Inc.
- Trinity Biotech Plc.
- Thermo Fisher Scientific
- Antibodies Incorporated
- EUROIMMUN Medizinische Labordiagnostika AG
- Immuno Concepts NA Ltd.
- Inova Diagnostics, Inc.
- ZEUS Scientific, Inc.
Porter’s Five Forces Analysis for Antinuclear Antibody Testing Market:
- Bargaining Power of Suppliers: There are not many suppliers in the market.
The bargaining power of suppliers is Moderate.
- Bargaining Power of Consumers: In this market, the concentration of buyers is Medium.
The bargaining power of consumers is Moderate.
- Threat of New Entrants: Huge initial investments are essential to start a new manufacturing unit of ozone generator.
The threat of new entrants is High.
- Threat of Substitutes: This market has less products due to which switching costs for clients is moderate.
The threat of substitutes is Medium.
- Competitive Rivalry in the Market: The ANA test market has numerous small, medium and large, scale players.
The competitive rivalry in the industry is Moderate.