Allergy Diagnostics Market Size & Share to Surpass $11841.27 Million by 2030 | Vantage Market Research

WASHINGTON, April 17, 2023 (GLOBE NEWSWIRE) -- The Global Allergy Diagnostics Market is valued at USD 5327.20 Million in 2022 and is projected to reach a value of USD 11841.27 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 10.50% over the forecast period 2023-2030.

Market Overview

Allergy diagnostics are medical tests used to diagnose and identify allergies. They are used to determine what is causing an allergic reaction and to determine the allergies a person is suffering from. Allergy diagnostics tests measure the number of specific antibodies or proteins in the body that are associated with allergies. Common allergy diagnostics test includes skin prick tests, blood tests, and patch tests.

Recent advances in technology have enabled the development of rapid, easy-to-use, and accurate allergy diagnostics tests. This has resulted in an increased demand for allergy diagnostics tests in both developed and developing countries. The Global Allergy Diagnostics Market is projected to continue to grow at a steady rate due to the increasing prevalence of allergies, rising healthcare expenditure, and the availability of innovative diagnostic techniques.

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Market Dynamics

• Increasing prevalence of allergies: The prevalence of allergies has been increasing in recent years, due to a number of factors, including changes in the environment, the rise in antibiotic use, and the increased consumption of processed foods. This has led to an increased demand for allergy diagnostics, as people seek to identify the allergens that are causing their symptoms.
• Rising awareness about allergies: There is a growing awareness about allergies among the general public, as well as among healthcare professionals. This is leading to more people being diagnosed with allergies, and more people seeking treatment for their allergies.
• Development of new and innovative allergy diagnostic tests: There have been a number of new and innovative allergy diagnostic tests developed in recent years. These tests are more accurate and more convenient than traditional allergy diagnostic tests, which has led to an increased demand for them.
• Government initiatives: Governments around the world are increasingly recognizing the importance of allergy diagnostics and are supporting initiatives to improve access to these tests. This is helping to drive the growth of the Allergy Diagnostics Market.

Challenges:

• The high cost of allergy testing: Allergy testing can be expensive, which can be a barrier to access for some people.
• The lack of awareness about allergies: There is a lack of awareness about allergies among the general public, which can lead to people not seeking treatment for their allergies.
• The development of new allergens: New allergens are constantly being developed, which can make it difficult to keep up with the latest testing methods.
  

Opportunities:

• The increasing prevalence of allergies: The prevalence of allergies is increasing, which is creating a growing market for allergy testing.
• The development of new and innovative allergy testing methods: There are a number of new and innovative allergy testing methods being developed, which can make allergy testing more accurate and affordable.
• The rising awareness about allergies: There is a growing awareness about allergies among the general public, which can lead to more people seeking treatment for their allergies.
  

Recommendations:

• Governments should support initiatives to improve access to allergy testing: Governments should support initiatives to improve access to allergy testing, such as subsidizing the cost of testing or providing financial assistance to people who cannot afford it.
• Healthcare professionals should educate patients about allergies: Healthcare professionals should educate patients about allergies, including the symptoms, causes, and treatments.
• Allergy testing companies should develop new and innovative allergy testing methods: Allergy testing companies should develop new and innovative allergy testing methods that are more accurate, affordable, and convenient.
  

Top Players in the Global Allergy Diagnostics Market

• 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)
• Erba Group (UK)
  

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Top Report Findings

• By product type, the market is segmented into consumables, instruments, and services. Consumables include test kits, lancets, and alcohol swabs. Instruments include skin prick test devices, blood test analyzers, and inhalation challenge chambers. Services include allergy testing by healthcare professionals.
• By test type, the market is segmented into in vivo and in vitro tests. In vivo tests are performed on the patient's body, while in vitro tests are performed on a sample of the patient's blood or tissue.
• By allergen type, the market is segmented into inhalant allergens, food allergens, drug allergens, and other allergens. Inhalant allergens include pollen, dust mites, and pet dander. Food allergens include peanuts, eggs, and shellfish. Drug allergens include penicillin and latex. Other allergens include insect venom and latex.
• By end user, the market is segmented into hospitals, clinics, and diagnostic laboratories. Hospitals are the largest end user of allergy diagnostics. Clinics and diagnostic laboratories are also important end users of allergy diagnostics.
• By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for allergy diagnostics. Europe is the second largest market for allergy diagnostics. Asia Pacific is the fastest growing market for allergy diagnostics.
  

Recent Developments in the Global Allergy Diagnostics Market

• 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.
  

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Regional Analysis of the Global Allergy Diagnostics Market:

North America is the largest market for allergy diagnostics, accounting for a share of over 40% in 2022. The large share of North America can be attributed to the following factors:

• The high prevalence of allergies in the region.
• The availability of advanced healthcare infrastructure and technology.
• The favorable reimbursement policies for allergy diagnostics.
  

Europe is the second largest market for allergy diagnostics, accounting for a share of over 30% in 2022. The growth of the European market is attributed to the following factors:

• The increasing prevalence of allergies in the region.
• The rising awareness about allergies and the importance of early diagnosis and treatment.
• The favorable reimbursement policies for allergy diagnostics.
  

Asia-Pacific is the fastest growing market for allergy diagnostics, with a CAGR of over 12% during the forecast period. The growth of the Asian market is attributed to the following factors:

• The rising prevalence of allergies in the region.
• The improving healthcare infrastructure and increasing disposable incomes.
• The rising awareness about allergies and the importance of early diagnosis and treatment.
  

Latin America and the Middle East and Africa are the smaller markets for allergy diagnostics, but they are expected to grow at a faster pace than the other regions during the forecast period. The growth of these markets is attributed to the following factors:

• The rising prevalence of allergies in the region.
• The improving healthcare infrastructure and increasing disposable incomes.
• The rising awareness about allergies and the importance of early diagnosis and treatment.
  

Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on Allergy Diagnostics Market Forecast Report (2023-2030).

Allergy Diagnostics Market is segmented as follows:

Product & Service

• Consumables - These include items such as lancets, test strips, and allergen extracts.
• Instruments - These include devices such as immunoassay analyzers, ELISA analyzers, and luminometers.
• Services - These include the provision of laboratory testing, interpretation of results, and patient education.
  

Allergen

• Inhaled Allergens - These include pollen, dust mites, and pet dander.
• Food Allergens - These include peanuts, eggs, milk, and shellfish.
• Drug Allergens - These include penicillin, aspirin, and codeine.
• Other Allergens - These include insect venom and latex.

Test Type

• In Vivo Tests - These are tests that are performed on the patient's body. Skin prick tests and patch tests are examples of in vivo tests.
• In Vitro Tests - These are tests that are performed on a sample of the patient's blood or other bodily fluid. Immunoassay tests and ELISA tests are examples of in vitro tests.

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Scope of the Report:    

Key Questions Answered in the Allergy Diagnostics Market Report are:

• What is the size of the Global Allergy Diagnostics Market?
• What are the major drivers and restraints of the Global Allergy Diagnostics Market?
• What are the major trends in the Global Allergy Diagnostics Market?
• What are the major players in the Global Allergy Diagnostics Market?
• What are the competitive landscape and strategies of the major players in the Global Allergy Diagnostics Market?
• What are the opportunities and challenges for new entrants in the Global Allergy Diagnostics Market?
• What are the regulatory landscape and reimbursement scenario for allergy diagnostics in different regions?
• What are the major trends in the Global Allergy Diagnostics Market by product type, allergen type, and test type?
• What are the major trends in the Global Allergy Diagnostics Market by end-user?
• What are the major trends in the Global Allergy Diagnostics Market by region?
• What is the forecast for the Global Allergy Diagnostics Market?
  

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