Frost: Detection Technology Advances Drive Euro Autoimmune Disease Diagnostics Market
December 5, 2008 // Published as a news service by IHS
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The European autoimmune disease diagnostics market demonstrated sustained growth due to advances in detection technology and automation, according to Frost & Sullivan.
Analysts said active consolidation is occurring in the market, thereby promoting technology and product integration.
However, the lack of clarity with regard to reimbursement policies for autoimmune diagnostic tests persists, posing a challenge to market expansion.
Recent analysis from Frost & Sullivan of the European autoimmune disease diagnostics market found earned revenues of $513.5 million in 2008, with estimates to reach $722.0 million in 2015.
"The development of novel biomarker panels has accelerated the diagnosis of many autoimmune complications," said Frost & Sullivan research analyst Suraj Ramanathan.
"Exhaustive R&D by many universities and research organizations has yielded promising results in the use of multiple biomarkers for autoimmune disease diagnosis."
The ability to screen a patient with multiple biomarkers associated with several autoimmune diseases has been shown to improve the accuracy of the diagnosis and has had a significant positive influence on the autoimmune disease diagnostics market, analysts said. Such novel biomarker panels will continue to offer an added advantage to physicians in the diagnosis of these complications.
Analysts said despite the advances in detection technology, the generalized lack of awareness among the public with regard to autoimmune diseases presents a challenge to market growth.
"Such low levels of awareness may derive from the rarity of many autoimmune complications among the general population," said Ramanathan. "Many patients in Europe, unable to find a proper treatment for their condition, are consequently switching to traditional methods such as Oriental medicine."
The need is, therefore, to boost patient awareness. "In conjunction with medical research organizations and hospitals, manufacturers should establish awareness programs and interactive workshops for the public," said Ramanathan. "These could highlight the prevalence of autoimmune diseases, while encouraging physicians to interact with the public on the symptoms, etiology and progression of autoimmune diseases."
Source: Frost & Sullivan.