Rheumatoid Arthritis Diagnostic Tests Market Size and Trends

Rheumatoid Arthritis Diagnostic Tests MarketSize and Trends

The global rheumatoid arthritis diagnostic tests market is estimated to be valued at US$ 2,775.1 million in 2023 and is expected to exhibit a CAGR of 5.4% during the forecast period (2023-2030).

Increasing prevalence of rheumatoid arthritis

Increasing prevalence of rheumatoid arthritis is expected to propel growth of the global rheumatoid arthritis diagnostic tests market over the forecast period. For instance, according to the article published in National Libarary of medicine Journal in September 2022, reported the age-standardized point prevalence and annual incidence rates of rheumatoid arthritis were 446.6 and 24.9 in 2021, which increased by 12.4% and 9.9% from 2001, respectively.

Increasing prevalence of rheumatoid arthritis, rising geratic population and increasing awareness about rheumatoid arthritis, new product releases and strategic efforts by prominent market competitors are favorably impacting the industry's growth. The high prevalence of rheumatoid arthritis, favorable health reimbursement, and increased awareness regarding Rheumatoid arthritis among people and clinicians is a major factor in the rheumatoid arthritis diagnostic tests market, thereby contributing to market growth.

Global Rheumatoid Arthritis Diagnostic Tests Market – Driver

Increasing prevalence of rheumatoid arthritis

Increasing expenditure for the treatment and management of rheumatoid arthritis

Increasing expenditure for the treatment and management of RA is also expected to aid in growth of the market. For instance, according to the study published in the journal PLOS One in October 2021, reported “Mortality, disability, and healthcare expenditure of patients with seropositive rheumatoid arthritis ”, the annual health expenditures were significantly larger for patients with rheumatoid arthritis than for controls.

Global Rheumatoid Arthritis Diagnostic Tests Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of things from one place to another.

However, the COVID-19 pandemic had a positive impact on the global rheumatoid arthritis diagnostic tests market. The COVID-19 outbreak affected the market's growth adversely in its preliminary phase; however, the number of rheumatoid arthritis patients increased, and so has the demand for the rheumatoid arthritis diagnostic test market. For instance, According to the article published in 2021 on PubMed Central, “COVID-19 and Rheumatoid Arthritis Crosstalk: Emerging Association, Therapeutic Options and Challenges” explains that the management of rheumatoid arthritis patients in the COVID-19 context is a difficult task in and of itself. Even though online consultations are advisable with patients who are having stable rheumatoid arthritis.

Global Rheumatoid Arthritis Diagnostic Tests Market Cross Sectional Analysis:

Key players are making rheumatoid arthritis diagnostic tests with advance technology emerging economies is also expected to boost demand Rheumatoid Arthritis Diagnostic Tests market in North America region. For instance, in October 2020, Quest Diagnostics, is the provider of diagnostic information services in New York, U.S, announced the availability of two new blood tests with advance technology new variant of test for aiding the early diagnosis of rheumatoid arthritis (RA), an autoimmune disorder that can cause debilitating joint damage.

Rheumatoid Arthritis Diagnostic Tests Market Report Coverage

Geographies covered:

North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East: GCC Countries, Israel, and Rest of Middle East
Africa: South Africa, North Africa, and Central Africa