Allergy Diagnostics Market

Allergy Diagnostics Market

Market Synopsis:

Global Allergy Diagnostics market is valued at 4,821.90 USD Million in 2021 and is projected to reach a value of 8,873.68 USD Million by 2028 at a CAGR of 10.70% over the forecast period. The increasing environmental pollution globally and the increasing access to healthcare insurance are estimated to enhance the growth of the Allergy Diagnostics market. Moreover, the Allergy Diagnostics market is expected to witness the highest growth during the forecast period owing to the high incidence of allergic diseases and associated heavy economic burden, and increasing funds by the organizations in the Allergy Diagnostics. The hazardous changes in the lifestyle of the population like the preference for junk food in the diet and increasing pollution are the other major factors driving the growth of the global Allergy Diagnostics market in the coming years. Furthermore, food allergies are showing the fastest growth nowadays due to the ignorance among individuals towards a healthy diet which is expected to increase the demand for Allergy Diagnostics during the forecast period. The utilization of mHealth in allergy diagnosis is the major factor driving the growth of the market during the forecast period. Furthermore, the latest diagnostic strategies for allergies and the research and analysis on new treatment approaches are presumed to be the key opportunities in the Allergy Diagnostics market in the upcoming years. The development of advanced technology indicates the great opportunity for growth of the Allergy Diagnostics market by introducing various types of blood tests in order to reduce further health issues. The rapidly changing lifestyle and the consumption of junk food especially among youngsters are driving the growth of the global Allergy Diagnostics market in the coming years.

Market Segmentation:

The Allergy Diagnostics market is segmented on the basis of product and services, allergen, test type, and end-user. On the basis of product and services, the market is segmented as Consumables, Instruments, Immunoassay Analyzers, ELISA Analyzers, Luminometers, other Instruments, and Services. Based on Allergen, the market is segmented as, Inhaled Allergens, Food Allergens, Drug Allergens, and other Allergens. On the basis of test-type, the market is segmented as In Vivo Tests, Skin Prick Tests, Patch Tests, Other In Vivo Tests, and In Vitro Tests. By end-user, the market is segmented as Diagnostic Laboratories, Hospital-based Laboratories, Academic Research Institutes, and Other End Users.

Consumable’s segment is projected to hold the largest share of the Allergy Diagnostics market in 2021

The consumables sector in the product and services segment is accounted to hold the largest share of the Allergy Diagnostics market during the year 2021. The growth of the consumables segment is mainly attributed to the increasing cases of allergies and the requirement of rapid tests in order to diagnose allergic conditions. The demand of the consumable segment has increased during the forecast period due to the arrival of covid-19 and significantly witness growth in the product and services segment.

In Vivo, tests are projected to acquire the largest share of the Allergy Diagnostics market during the forecast period

The In Vivo test type segment in the test type sector is accounted to hold the largest share of the Allergy Diagnostics market during the forecast period. The growth of In Vivo tests is primarily attributed to the increasing adoption of various tests in the Vivo tests segment such as skin prick tests. Moreover, these tests are safe convenient, dependable, and cost-effective and it is expected to increase the demand for Vivo tests in the coming years.

North America is expected to acquire the largest share of the Allergy Diagnostics market in the year 2021

The largest share of North America is primarily attributed to favorable reimbursement scenarios for the allergy diagnosis, availability of support and initiative by the associations, and rising incidence of allergies. The good healthcare infrastructure and advanced diagnostic technology in the region are increasing the demand for the Allergy Diagnostics market in North America.

In Asia the Allergy Diagnostics market is projected to witness the highest growth by the year 2024 owing to the developing healthcare infrastructures, increase in disposable income, increasing prevalence of allergic diseases, and increasing aging population in the region. Moreover, the increasing population and growth in the economies in developing countries like India, Japan, and China are projected to drive the growth of the Allergy Diagnostics market in Asia.

Some of the latest trends that are observed in the global Allergy Diagnostics market are the rising number of partnerships and collaborations, a growing number of mergers and acquisitions, increasing research and development activities, and new product launches which are expected to enhance the market growth in the upcoming years.

Competitive Landscape:

The major key players present in the Allergy Diagnostics market are adopting various strategies such as collaborations, new product launches, acquisitions, and expansions to increase the market share. The prime key players in the Allergy Diagnostics market are Thermo Fisher Scientific Inc., (US), Siemens Healthineers (Germany), Danaher (US), Omega Diagnostics Group PLC (UK), bioMérieux SA (France), EUROIMMUN Medizinische Labordiagnostika AG (Germany), HollisterStier Allergy (US), NEOGEN Corporation (US), Eurofins Scientific (Luxembourg), Stallergenes Greer (UK), HOB Biotech Group Corp., Ltd. (China), HYCOR Biomedical (US), Romer Labs Division Holding (Austria), R-Biopharm AG (Germany), AESKU.GROUP GmbH (Germany), ACON Laboratories, Inc. (US), Lincoln Diagnostics, Inc. (US), Astra Biotech GmbH (Germany), Minaris Medical America, Inc. (the US), and Erba Group (UK).

Allergy Diagnostics Market is segmented as follows:

Allergy Diagnostics Market is tabulated as follows: