The major factors driving the growth of Allergy Diagnostics Market are the high incidence and large economic burden of allergic diseases, rising environmental pollution, increasing healthcare expenditure, and growing access to medical insurance in the US. On the other hand, lack of awareness of allergic diseases in some countries is restraining the growth of this market.
The allergy diagnosis is an important introductory step for effective allergy treatment. Current allergy tests are more convenient and accurate compared to the tests that were available before. With the help of a detailed medical history, allergy tests can identify specific triggers for an individual’s allergic reactions. This process is also required in drug development and the production process of allergy treatments.
Allergy Diagnostics Market is expected to reach USD 5.74 Billion, at a CAGR of 10.5%
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Market Segmentation: –
Based on product & service, the market is segmented into assay kits, instruments, and services. Assay kits form the largest and the fastest-growing segment in this market majorly due to the wide availability, large consumption, and the need for the repeat purchase of these kits in allergy testing.
Allergy Diagnostics Market, by End User:
- Diagnostics Laboratories
- Hospital-based Laboratories
- Academic and Research Institutes
Inhaled allergens are estimated to command the largest market share in 2017
On the basis of allergens, the market is segmented into inhaled allergens, food allergens, drug allergens, and other allergens. In 2017, the inhaled allergens segment is expected to account for the largest share of the market. Increasing environmental pollution is one of the major factors driving the growth of this segment.
North America estimated to account for the major market share in 2017
Based on region, the Allergy Diagnostics Market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2017, North America is expected to command the largest share of the market. The large share of this segment can primarily be attributed to the increasing healthcare expenditure, coverage of allergy diagnostics tests in medical insurance, and the strong presence of players in this region.
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Critical questions Addressed in the Research Report:
- Where will all these developments take the industry in the long term?
- What are the upcoming trends for the allergy diagnostics market?
- Which segment provides the most opportunity for growth?
- Who are the leading vendors operating in this market?
- What are the opportunities for new market entrants?
Key players in the Allergy Diagnostics Market include Thermo Fisher Scientific Inc. (US), Siemens AG (Germany), Danaher Corporation (US), Omega Diagnostics Group PLC (UK), Hitachi Chemical Co., Ltd. (Japan), bioMérieux SA (France), Stallergenes Greer (UK), HOB Biotech Group Suzhou Co., Ltd. (China), HYCOR Biomedical (US).