According to the report Latin America Autoimmune Diagnostics Market, published by Market Data Forecast, the market is projected to reach USD 1.87 billion by 2021, at a CAGR of 3.6% from 2016 to 2021.
Autoimmune diseases are a hyperactive immune response against its own body tissues and cells which lead to the damage of organs in the body. Nearly 80 types of autoimmune diseases are known so far.
The most common autoimmune diseases include Graves’ disease, rheumatoid arthritis, Hashimoto’s thyroiditis, type 1 diabetes, multiple sclerosis and systemic lupus erythematosus.
The diagnosis of autoimmune disease for animals particularly among companion animals is performed through total estimation of blood panel to examine the erythrocytes, platelet and blood cortisol.
These tests are useful for measuring the existence of positive antinuclear antibodies in a blood test. Veterinarians recommend urinalysis, thyroid test to analyze an immune system condition in animals.
Most recent thyroid tests are performed to examine the presence of T3 (triiodothyronine) and T4 (levothyroxine) and different antibodies which showed autoimmune thyroiditis and different types of hereditary diseases.
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Latin America Autoimmune Diagnostics Market: Drivers and Restraints
Increasing occurrence of autoimmune disorders, high disposable income, increasing public awareness are the major factors driving the growth rate of autoimmune diagnostics market. Improving healthcare infrastructure and improved laboratory techniques and automation are also some of the factors driving the growth of the market.
The key restraints that inhibiting the growth of the autoimmune diagnostics market are high cost of treatment, unavailability of skilled labor and growing rate of diagnostics errors. Slow turnaround time of autoimmune disease test results is also inhibiting the growth of the market.
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Latin America Autoimmune Diagnostics Market: Segmentation
By Test Type
- Autoantibody Tests
- Antinuclear Antibody Tests
- Complete Blood Count (CBC)
- C - reactive protein (CRP)
- Comprehensive Metabolic panel
- Erythrocyte Sedimentation Rate (ESR)
By Disease Type
- Localized autoimmune disease diagnostics
- o Graves' Disease
- o Hashimoto's Thyroiditis
- o Multiple Sclerosis
- o Type 1 diabetes
- o Psoriasis
- o Others
- Systemic autoimmune disease diagnostics
- o Rheumatoid Arthritis (RA)
- o Ankylosing Spondylitis
- o Systemic Lupus Erythematous (SLE)
By End Users
- Research centers
- Diagnostic laboratories
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Latin America Autoimmune Diagnostics Market: Overview
Increasing prevalence of autoimmune disorders such as type 1 diabetes in infant babies coupled with demand for rapid diagnostics is the key driver for the growth of autoimmune diagnostics market. Autoimmune disorders are the one of the top ten diseases leading to mortality in women.
Research and development activities are rising as per the initiatives of government organizations due to the rising occurrence of autoimmune diseases. Growing awareness among people and development of health care infrastructure are major factors driving the market.
The increase in autoimmune diseases in animals especially in companion animals is also boosting the demand for autoimmune diagnostics market. Slow turnaround time and higher costs of testing are restraining the market growth.
Latin America Autoimmune Diagnostics Market: Region-wise Outlook
On the basis of geography, the Latin America Autoimmune Diagnostics market is segmented into various regions namely Mexico, Brazil, Argentina and others. Increasing health care initiatives by government institutions and increasing awareness among patients are the major driving factors for autoimmune market.
Lack of proper infrastructure and skilled professionals are hindering the growth rate of the market in this region.
Key Questions Answered
- What are the key, high growth markets that Autoimmune Diagnostics market players should expand into? Which market segments are growing the fastest?
- What is the competitive landscape and market share of major players in the Autoimmune Diagnostics market in Latin America?
- What are the challenges and restraints that have limiting the widespread adoption of Autoimmune Diagnostics?
- What are the unmet needs with the Autoimmune Diagnostics currently on the market? How will emerging technologies fulfill these unmet needs?
- What is health care professional perception and market outlook of Autoimmune Diagnostics?
Latin America Autoimmune Diagnostics Market: Key Players
Major players influencing the Latin America Autoimmune diagnostics market are Bio-Rad, Siemens Healthcare, Abbott Laboratories, Crescendo Bioscience, Roche Diagnostics SQI Diagnostics, AESKU Diagnostics, INOVA Diagnostics Inc., BioMerieux SA, Beckman Coulter Inc., Hemagen Diagnostics, Quest Diagnostics, Eli lilly, Glaxosmithkline Plc.
Reasons to access Latin America Autoimmune Diagnostics Market Report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
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