Rheumatoid arthritis diagnostic tests help to identify the presence of rheumatoid factor (RF) and anti-citrullinated protein antibody (ACPA) in the blood or synovial fluid of patients, which is a hallmark of rheumatoid arthritis. These diagnostic tests play a crucial role in early diagnosis and treatment management of RA. The global Rheumatoid Arthritis Diagnostic Tests Market is estimated to be valued at US$ 625.22 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing Introduction of Advanced Diagnostic Tests for RA- Advancements in biomedical research have led to the development of novel diagnostic technologies with higher sensitivity and accuracy for RA diagnosis. Key players are continuously investing in R&D to develop advanced multiplex immunoassays, which can simultaneously detect the presence of various autoantibodies associated with RA pathology. For instance, Bio-Rad Laboratories offers QUANTA Lite® CCP3 ELISA test that can detect various citrullinated peptides with increased sensitivity. Such novel diagnostic tests are expected to gain wide acceptability among clinicians owing to their advantages over conventional tests, thus propelling the growth of rheumatoid arthritis diagnostic tests market during the forecast period.
SWOT Analysis
Strength: Rheumatoid arthritis diagnostic tests offer accurate detection of rheumatoid arthritis that aids in early diagnosis and treatment planning. This improves health outcomes for patients.
Weakness: High capital investment requirements for setting up manufacturing facilities for rheumatoid arthritis diagnostic tests pose financial challenges for new players.
Opportunity: Growing geriatric population prone to rheumatoid arthritis indications and increasing healthcare expenditures in developing nations create market opportunities.
Threats: Stringent regulatory processes and approval timelines for new product launches can delay market entry for players.
Key Takeaways
The global rheumatoid arthritis diagnostic tests market is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America dominates the market currently due to advanced healthcare infrastructure and increasing rheumatoid arthritis patient base.
Key players: Key players operating in the rheumatoid arthritis diagnostic tests market are Abbott Laboratories, F. Hoffmann-La Roche AG, Beckman Coulter Inc., Euro Diagnostica AB, QIAGEN N.V., and Bio Rad Laboratories Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
