Allergy Diagnostics Market to Reach Valuation of 8,873.68 USD Million by 2028; Increasing Environmental Pollution is Driving the Market”

Vantage Market Research

Mar 16, 2022

In terms of revenue, the Global Allergy Diagnostics Market is expected to reach 8,873.68 USD Million by 2028, growing at a CAGR of 10.70% from 2022 to 2028. The high prevalence of allergic diseases and related heavy economic burden, increasing environmental pollution levels, rising funds by associations in allergy diagnostics, and the rising access to healthcare insurance.

Key Findings:

  • The consumables segment is anticipated to hold a significant share for Allergy Diagnostics Market. This can be attributed to the rising cases of allergies and the rapid tests need to diagnose allergic situations. The consumables segment is also expected to witness substantial growth in the coming years.
  • The diagnostic laboratories segment is anticipated to grow a significant CAGR for the Allergy Diagnostics Market. This can be primarily attributed to the choice for proper diagnosis from a professional, increasing awareness with respect to the management of the allergic disease, and the fund's availability for the operation of diagnostic laboratories which are independent.
  • North America is the largest regional segment. The high growth is attributed mainly to an increase in a number of diagnostic laboratories and hospitals, a large patient pool, rising awareness of allergy diseases, and increasing healthcare expenditure.

Some of key players in Allergy Diagnostics Market includes, Thermo Fisher Scientific Inc., (US), Siemens Healthineers (Germany), Danaher (US), Omega Diagnostics Group PLC (UK), bioMérieux SA (France), Romer Labs Division Holding (Austria), EUROIMMUN Medizinische Labordiagnostika AG (Germany), HollisterStier Allergy (US), NEOGEN Corporation (US), Eurofins Scientific (Luxembourg), Minaris Medical America, Inc. (US), Stallergenes Greer (UK), HOB Biotech Group Corp., Ltd. (China), HYCOR Biomedical (US), R-Biopharm AG (Germany), AESKU.GROUP GmbH (Germany), ACON Laboratories, Inc. (US), Lincoln Diagnostics, Inc. (US), Astra Biotech GmbH (Germany), and Erba Group (UK)..

Exposure to outdoor and indoor allergens, occupational exposure, and air pollutants, are the key risk factors affecting chronic respiratory diseases. The incidence of allergic disorders within the urban population is bigger than those who are living in rural areas owing to the exposure to environmental pollutants (as a result of industrial activities and vehicular pollution).

As per the WHO, more than 80% of people living in urban areas are exposed to air quality levels that exceed the WHO safety limits; though this is a global trend, its effects are more severe in the urban areas of low-income countries. This is a key indicator for the Allergy Diagnostics Market growth, as air pollution from vehicles has been taken as one of the key risk factors which is responsible for allergic diseases.