Global Rheumatoid Arthritis Diagnosis Tests Market to Reach $766.7 Million by 2026

SAN FRANCISCO, Aug. 17, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Rheumatoid Arthritis Diagnosis Tests – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: August 2021
Executive Pool: 6194
Companies: 65 – Players covered include Abbott Laboratories; Antibodies Inc.; Aviva Systems Biology Corporation; Beckman Coulter, Inc.; Bio-Rad laboratories Inc.; Euro Diagnostica AB; F. Hoffmann-La Roche AG; Qiagen NV; Siemens Healthineers; Thermo Fisher Scientific, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Test Type (Serology Tests, Monitoring RA Treatment Efficiency Tests); End-Use (Diagnostic Laboratories, Hospitals, Ambulatory Surgical Centers)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Rheumatoid Arthritis Diagnosis Tests Market to Reach $766.7 Million by 2026
Rheumatoid Arthritis (RA), a chronic autoimmune disease, causes inflammation in the joints, muscles, connective tissues, fibrous tissues, and tendons causing pain and swelling. The disease is developed when certain cells of the immune system do not work properly and attach the healthy joints. The disease mostly affects the wrists, hands, and feet. In this condition, the body identifies the body tissues as antigens and produces antibodies against them resulting in inflammation. Major symptoms of the disease include swelling, pain, joint stiffness, joint deformity, fever, weight loss, loss of mobility and function, unsteadiness while walking, and weakness. Different types of rheumatoid arthritis are seronegative, seropositive and juvenile idiopathic arthritis. Women are more prone to the disease compared to men and it is common among the age group 40 to 60. The diagnosis of the disease depends on the symptoms, physical examination, x-ray, scan, and blood test results of a patient.

Though the disease can attack at any age its prevalence generally begins in people between 30 to 60 years of age. Females are more two to three times more prone to RA than men. The US had the lowest rate of RA prevalence in the recent past in comparison to the other eight major markets like Australia, the US, Japan, France Italy, Germany, Spain and the UK. The US had an RA prevalence rate of 67% in comparison with the standard 73% rate in the other eight markets. The UK demonstrated the highest prevalence of RA at 84%. Alterations in the population of the U.S are expected to bring an unprecedented increase in the growth of incidence cases of RA in the U.S. till 2027. Physicians in the U.S. are expected to focus heavily on diagnostic processes for RA. Rheumatoid arthritis is better managed when detected early as the inflammation reduction process can be begun early. The clinical demonstration of RA is swelling and redness of joints, pain, swelling and stiffness. Diagnosing the disease involves a physical examination, an array of imaging tests, blood tests and medical history analysis of patients and patient’s families. The diagnosis of RA can be influenced by the challenge of separating the disease from other autoimmune disorders showing similar symptoms. A combination of diagnostic processes including a thorough symptomatic evaluation of the patient, X-ray analysis, blood tests and scans and physical examinations are recommended for the optimal management of this disease.

Amid the COVID-19 crisis, the global market for Rheumatoid Arthritis Diagnosis Tests estimated at US$579.8 Million in the year 2020, is projected to reach a revised size of US$766.7 Million by 2026, growing at a CAGR of 4.8% over the analysis period. Serology Tests, one of the segments analyzed in the report, is projected to grow at a 5.1% CAGR to reach US$561.3 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Monitoring Ra Treatment Efficiency Tests segment is readjusted to a revised 4% CAGR for the next 7-year period. This segment currently accounts for a 31.6% share of the global Rheumatoid Arthritis Diagnosis Tests market.

The U.S. Market is Estimated at $124.3 Million in 2021, While China is Forecast to Reach $113.5 Million by 2026
The Rheumatoid Arthritis Diagnosis Tests market in the U.S. is estimated at US$124.3 Million in the year 2021. The country currently accounts for a 20.66% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$113.5 Million in the year 2026 trailing a CAGR of 6.1% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$120.4 Million by the close of the analysis period.

Global demographic trends spell opportunities for the rheumatoid arthritis (RA) diagnostic tests market. It is acknowledged that prevalence of RA increases with age, and therefore rising aging population widens the demand for diagnosis tests as well as treatments for RA. Over the course of the next two decades, the proportion of 65+ individuals in the total population is expected to double in countries such as the US, UK and Australia. As per the World Health Organization (WHO), total number of people aged 65-years and above is projected to grow from the existing 605 million to nearly 2 billion by the year 2050. While nearly 89 million people in the US are forecast to be 65-years or above by 2050, around 40% of citizens in Japan are projected to belong to the age group by 2060. While the increase in life expectancy represents one of the greatest achievements of the past century, it also poses a significant challenge for healthcare systems. People might live more years but the average number of healthy years is on a decline given the risk of contracting later life conditions such as dementia. About 55% of global healthcare expenditure is likely to be spent on chronic diseases including cardiovascular diseases, cancer and respiratory diseases.

With advancing age, the incidence of various health ailments increases, necessitating the need for laboratory tests for diagnosing the specific diseases such as RA. Impact of autoimmune diseases such as RA on quality of life and associated high cost of treatments are prompting governments and healthcare providers to encourage preventive care, especially with focus on aging population. The growing aging population is therefore offering continuous opportunities for the autoimmune disease diagnostics market, as with advancing age the incidence of various autoimmune conditions such as RA increases, which results in rise in testing volumes translating to higher demand for testing techniques for RA. As RA is mostly common among the old people, and the geriatric population has been increasing recently, the opportunities in the global rheumatoid arthritis diagnosis test market are expected to be on the rise in the future. More

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Email: ZA@StrategyR.com

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SOURCE Global Industry Analysts, Inc.