LONDON--(BUSINESS WIRE)--The global rheumatoid arthritis diagnostic devices market is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global rheumatoid arthritis diagnostic devices market size is the increasing number of rheumatoid arthritis cases. The number of autoimmune disorders, such as rheumatoid arthritis has increased at a significant rate across the world. These autoimmune diseases are most common in the older population as the prevalence of rheumatoid arthritis increases with age. This increasing prevalence has pushed various countries across the world to conduct awareness programs. Furthermore, government bodies and private organizations are providing insurance facility to patients with rheumatoid arthritis. Thus, the increasing number of rheumatoid arthritis cases will fuel the growth of the market during the forecast period.
As per Technavio, the growing focus on biomarkers and precision medicine will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global rheumatoid arthritis diagnostic devices market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Rheumatoid Arthritis Diagnostic Devices Market: Growing Focus on Biomarkers and Precision Medicine
Biomarkers provide information about the disease activity, and predictive biomarkers help clinicians to assess the probability of treatment response. Biomarkers can help to predict the development of rheumatoid arthritis in patients and improve the diagnosis rate by improving the serological test analysis. Thus, the focus on the development of novel biomarkers has increased, which has led to the emergence of multi biomarkers disease activity test (MBDA), which can help in better monitoring of rheumatoid arthritis. Thus, the growing focus on biomarkers and precision medicine is expected to fuel the rheumatoid arthritis diagnostic devices market during the forecast period.
“Apart from the growing focus on biomarkers and precision medicine, other factors such as the increase in funding for and clinical studies on rheumatoid arthritis, and the rising number of business strategies will have a significant impact on the rheumatoid arthritis diagnostic devices market growth during the forecast period,” says a senior analyst at Technavio.
Global Rheumatoid Arthritis Diagnostic Devices Market: Segmentation Analysis
This market research report segments the global rheumatoid arthritis diagnostic devices market size by product (analyzers, and consumables), and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the rheumatoid arthritis diagnostic devices market in 2018, followed by Europe, Asia, and ROW respectively. The rheumatoid arthritis diagnostic devices market report identifies factors such as the increasing number of people with rheumatoid arthritis, the rising number of new product launches, and the growing adoption of early diagnostic tests, to account for the market dominance of North America during the forecast period.
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