Usage of machine learning in healthcare to drive the Rheumatoid Arthritis Market at a CAGR of 5.0%

Rheumatoid Arthritis Market 2022

Telemedicine is capable of improving access to the world of healthcare. Extended Reality (XR) comes across as a catch-all term that does cover AR (Augmented Reality), VR (Virtual Reality), and MR (Mixed Reality). AI is being used for looking through communicable diseases such as Covid along with distributing vaccines, handwritten notes by doctors, and genomic data from the living cells. This would be the scene with Rheumatoid Arthritis Market in the upcoming period.

Worldwide sales of rheumatoid arthritis diagnosis test kits are likely to reach ~US$ 600 Mn by the end of 2019, unveils the new research study by Persistence Market Research (PMR). According to the report, the rheumatoid arthritis diagnosis test market is estimated to grow by ~ 4% Y-O-Y by the end of 2020, primarily influenced by recent advancements in the rheumatoid arthritis diagnosis test market.

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According to the report, increasing incidences of autoimmune diseases, rise in prescription of off-label nonsteroidal anti-inflammatory drugs (NSAIDs), and other pain management drugs are projected to increase the demand for rheumatoid arthritis diagnosis test kits, thus driving the growth of the rheumatoid arthritis diagnosis test market. Additionally, extensive focus on high sensitivity and specificity of test kits from manufacturers and favorable regulatory guidelines for rapid rheumatoid arthritis diagnostic test kits are expected to fuel the rheumatoid arthritis diagnosis test market growth.

Company Profiles:

  • Abbott Diagnostics
  • Antibodies Incorporated
  • Beckman Coulter, Inc.
  • Euro Diagnostics AB
  • Thermo Fisher Scientific Inc.
  • Qiagen NV
  • F. Hoffmann-La Roche Ltd.
  • Siemens Healthcare GmbH

 

global rheumatoid arthritis diagnosis test market

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Introduction of New Test Kits – Cost Effective Yet Reliable

Presently, there are no effective diagnostic measures available for rheumatoid arthritis. The unavailability of effective diagnostic tools has triggered the need for cost effective and more reliable rheumatoid arthritis diagnosis test kits. As a result, companies operating in the rheumatoid arthritis diagnosis test market are now focusing on the development of cost-effective and reliable test methods.

Moreover, the increasing research and development activities to develop biomarker-based rheumatoid arthritis diagnosis test methods are also expected to create new growth opportunities for manufacturers of rheumatoid arthritis diagnosis test kits, profiting the rheumatoid arthritis diagnosis test market growth.

Off-label Prescriptions – Assisting the Market Growth

Currently, there is no effective treatment available for rheumatoid arthritis. However, physicians usually prescribe anti–inflammatory drugs as an off label treatment, which help in reducing joint inflammation among patients suffering from rheumatoid arthritis. Such increased level of off-label prescription by physicians has been leading to the rise in demand for rheumatoid arthritis treatment efficacy monitoring test kits and rheumatoid arthritis diagnosis test kits, globally. This requires continuous monitoring, which could be conducted through various testing methods such as Salicylate Level Count, Muscle Enzyme Tests (CPK, Aldolase), and Creatinine Test. Thus the increasing level of off-label prescription for rheumatoid arthritis is anticipated to support the growth of the rheumatoid arthritis diagnosis test market in the forecast period.

Strong Presence of Local Manufacturers Shaping the Market

The rheumatoid arthritis diagnostic test kits market is being strongly dominated by local companies. Anti-body detection test kits and serology test kits are manufactured at low cost and do not require economies of scale for profitability. Hence, local manufacturers have lower entry barriers to enter the rheumatoid arthritis diagnosis test kits market. Such low entry barriers provide a competitive advantage to local manufactures of rheumatoid arthritis diagnosis test kits.

Local manufactures thus continue to impose strong competition to global players especially in Asian countries. Thus, the presence of local manufacturers is expected to positively shape the rheumatoid arthritis diagnosis test market.

Limited Specificity and Sensitivity – Still a Challenge

Test kits available in the market have limited specificity and sensitivity towards rheumatoid arthritis, which is a major factor restraining the growth of the rheumatoid arthritis diagnosis test market currently. The conventional test methods such as ESR and RF test, have less specificity and sensitivity. Novel diagnostic test kits such as Anti–cyclic citrullinated peptide (anti–CCP) are providing test results with high specificity and sensitivity. However, due to their high costs, adoption of these tests is a major challenge.  Thus these factors are hampering the overall growth of the rheumatoid arthritis diagnosis test market.


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Key Questions Answered in This Report.

  • What will the Market growth rate in Future?
  • What are the key factors driving the global Market?
  • Who are the key manufacturers in Market space?
  • What are the opportunities and threats faced by the vendors in the global industry?
  • What are sales, revenue, and price analysis by regions of industry?

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