Allergy Diagnostics Market Forecasting to 2030: Size and Share
Global Allergy Diagnostics Market Forecast to 2030
Global Allergy Diagnostics Market Research Report and Forecast to 2030 is an in-depth study of the global Allergy Diagnostics Market, including market size, market share, current and emerging trends, and the most recent technological developments. The report also provides insight into the global and regional competitive landscape of the Allergy Diagnostics Market, as well as a detailed forecast to 2030. The impact of the COVID-19 pandemic on the Allergy Diagnostics Market has been updated in the new report. It examines the pandemic's impact on the economic landscape and government regulations in each region. It also investigates the supply chain disruptions and economic volatility caused by the pandemic and provides a current and prospective outlook.
T
he global allergy diagnostics market size is expected to reach USD 12.45 Billion at a steady revenue CAGR of 11.1% in 2030, according to the latest analysis by Emergen Research. One of the primary driving factors leading to increased revenue growth of the market is a high prevalence of allergic diseases. According to estimates, allergic rhinitis, popularly known as hay fever, affects 7.8% of individuals in the U.S. It is estimated that 3.5-4% of the general population in the U.S. has Immunoglobin E (IgE)-mediated food allergy or sensitivity. Thus, rising prevalence of allergic diseases is leading to rising demand for allergy diagnostics. Advances in diagnostic technologies and algorithms assist clinicians in more correctly diagnosing allergies, allowing patients to obtain the appropriate medication. Furthermore, government measures are also contributing to revenue growth of the market.
Inadequate awareness and use of allergy testing technologies is a major factor, which could hamper revenue growth of the market. For example, despite advances in scientific knowledge of allergic disorders, about half of all allergy patients seek diagnosis and treatment from alternative practitioners every year. Some individuals will be subjected to unproven allergy testing or treatments. Acceptance is aided by the incorporation of conventional eastern healthcare concepts into western society, as well as irresponsible media attention to promises of innovative allergy remedies. As a result these factors could restrain revenue growth of the allergy diagnostics market.
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Competitive Terrain:
The global Allergy Diagnostics industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Thermo Fisher Scientific Inc., Danaher, Minaris Medical America, Inc., Siemens Healthcare GmbH, Eurofins Scientific, EUROIMMUN Medizinische Labordiagnostika AG, BIOMÉRIEUX SA, Stallergenes Greer, Neogen Corporation, and Omega Diagnostics Group PLC
Research Report on the Allergy Diagnostics Market Addresses the Following Key Questions:
Who are the dominant players of the Allergy Diagnostics market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Allergy Diagnostics market?
What are the key growth drivers and restraining factors of the Allergy Diagnostics market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Allergy Diagnostics market and its key segments?
Market Overview:
The report bifurcates the Allergy Diagnostics market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Product & Service Outlook (Revenue, USD Billion; 2019–2030)
Consumables
Instruments
Immunoassay Analyzers
ELISA Analyzers
Luminometers
Others
Services
Allergen Outlook (Revenue, USD Billion; 2019–2030)
Inhaled Allergens
Food Allergens
Drug Allergens
Others
Test Type Outlook (Revenue, USD Billion; 2019–2030)
In Vivo Tests
Skin Prick Tests
Patch Tests
Others
In Vitro Tests
Regional Landscape section of the Allergy Diagnostics report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
On 18 June 2021, the Medicines and Healthcare products Regulatory Agency (MHRA) licensed Reacta Biotech's manufacturing plant in Deeside, North Wales, to begin producing its unique peanut Oral food Challenge (OFC) under the current Good Manufacturing Practices (cGMP) standards.
The food allergens segment is expected to register fastest revenue CAGR during the forecast period, which is attributed to rising prevalence of food allergies among individuals in both developing and developed countries and initiatives from key market players. For example, Eurofins Technologies, which is a manufacturer of laboratory test kits and systems, announced the launching of the new SENSIStrip Allergen product line on 14 December 2020, which quickly identifies allergens that must be labeled on packaged food items. The allergy diagnostics market is also supported by regulatory activities from international agencies such as the U.S. Food and Drug Administration (FDA). To protect individuals with food allergies and other food hypersensitivities, FDA enforces laws requiring firms to list ingredients on packaged foods and drinks. Some foods or substances that cause allergies or other hypersensitivity reactions are subject to more severe labeling rules. These factors are driving revenue growth of the segment.
In vitro tests segment is expected to register a high CAGR during the forecast period as patients are not exposed to allergens, which eliminates the possibility of adverse responses during testing. The patient's use of antihistamines or other medicines causes no interference. Testing is not prohibited in the presence of broad dermatological sickness or dermographism. The standardization and quantification of test systems enable more robust comparisons in an individual across time and across testing sites. A single blood sample can be used to measure specific IgE to a wide range of allergens, and a more extensive test menu is available.
The market in North America is expected to account for largest revenue share during the forecast period, which is attributed primarily to rising prevalence of allergic reactions, increasing regulatory approvals for current innovations, and favorable reimbursement policies. On 22 August 2022 for example, Thermo Fisher Scientific Inc. gained FDA clearance for the use of ImmunoCAP Specific IgE (sIgE) Allergen Components in vitro for wheat and sesame allergies. These new blood tests can assist specialists and other healthcare providers in identifying wheat and sesame allergies in those who are at risk of a severe allergic reaction. ImmunoCAP Specific IgE Allergen Components will be accessible shortly throughout the U.S.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Allergy Diagnostics market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets
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