The global Allergy Diagnostics and Therapeutics market is forecast to reach USD 54.71 Billion by 2028, according to a new report by Reports and Data. This is mainly contributed by the increase in the prevalence of allergies among the population. The technological advancements in the healthcare industry coupled with the changing lifestyle and food habits of the major population will drive the growth of the market. These allergic diseases can occur at almost any age, though some allergies are most likely to develop for the first time in particular age groups, especially in the geriatric population.
Moreover, the increase in the aged population as well as the growing prevalence of respiratory diseases, due to increasing pollution and CO2 emissions, are some of the other factors that will fuel the growth of the market. However, expensive equipment and the lack of awareness regarding ailments for allergic diseases is projected to restrain the growth of the market.
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Further key findings from the report suggest
- The market is segmented on the basis of product into instruments, consumables, and services.
- The consumables segment accounts for the largest market share of ~50% in the year 2020 and is forecasted to witness the highest growth rate of 5.5% during the forecast period. The advancements in the healthcare and pharmaceuticals industry to detect allergic diseases in patients is the factor driving the growth of the segment.
- For instance, assay kits are necessary and readily available consumables, used in life science research, drug discovery & development, and environmental monitoring.
- The market is segmented on the basis of allergen type into food, inhaled, and drug.
- The inhaled allergen type accounts for the largest market share of ~50% in the year 2020 and is also forecasted to witness the highest growth rate of 5.8% during the forecast period.
- The increasing population and carbon dioxide emission, leading to increasing cases of respiratory allergies, will drive the growth of this segment.
- The market is segmented on the basis of test type into in vivo and in vitro.
- The in vivo test accounts for a larger market share of ~60% in the year 2020.
- In vivo tests are widely used by healthcare and research industries since they are able to simulate realistic and clinically relevant test environment and conditions.
- The market is segmented on the basis of drug class into antihistamines, corticosteroids, mast cell stabilizers, leukotriene inhibitors, nasal anticholinergics, decongestants, immunomodulators, autoinjectable epinephrine, and immunotherapy.
- The antihistamines drug class accounts for the largest market share of ~20% in the year 2020.
- Antihistamines are used to treat allergic diseases, especially rhinitis. It is an inexpensive, and generic drug that provides relief from nasal congestion, sneezing, or hives caused by pollen, dust mites, or animal allergy.
- The market is segmented on the basis of end users into academic research institutes, hospitals, and diagnostic laboratories.
- The diagnostic laboratories account for the largest market share of ~52% in the year 2020, owing to the growing prevalence of allergic diseases and the need for proper treatment and detection of those diseases.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America, and MEA.
- The Asia Pacific region is forecasted to witness the highest growth rate of 5.8% during the forecast period owing to developing healthcare & pharmaceutical industry in this region.
- Asia Pacific has been adopting and advancing itself in terms of technology, owing to the growing population; rise in the number of people suffering from allergic and respiratory diseases, and the need for better diagnostic methods.
- The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
Competitive Outlook of the Global Allergy Diagnostics And Therapeutics Market
The globla Allergy Diagnostics And Therapeutics market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Allergy Diagnostics And Therapeutics market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers & acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Omega Diagnostics, Thermo Fisher Scientific, Stallergenes Greer, Siemens Healthcare, bioMerieux, Lincoln Diagnostics, Alcon Laboratories, HOB Biotech Group, Hycor Biomedical, and Hitachi Chemical Diagnostics, among others.
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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.
Allergy Diagnostics And Therapeutics Market Segmentation:
Products Outlook (Revenue, USD Billion; 2020-2028)
Allergen type Outlook (Revenue, USD Billion; 2020-2028)
Test type Outlook (Revenue, USD Billion; 2020-2028)
- In Vivo
- In Vitro
Drug class Outlook (Revenue, USD Billion; 2020-2028)
- Mast Cell Stabilizers
- Leukotriene Inhibitors
- Nasal Anticholinergics
- Autoinjectable Epinephrine
End users Outlook (Revenue, USD Billion; 2020-2028)
- Academic Research Institutes
- Diagnostic Laboratories
Geographic Segment Covered in the Report:
The Allergy Diagnostics And Therapeutics report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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