New York, USA, Jan. 12, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global allergy diagnostic market is envisioned to garner $16,714.2 million in revenue and grow at a CAGR of 13.2% over the analysis timeframe from 2022 to 2031.
As per our analysts, the increasing air pollution all across the globe can cause chronic respiratory disorders such as asthma which are expected to bolster the growth of the allergy diagnostic market throughout the estimated period. Moreover, the increasing trends of mHealth in allergy diagnostics are predicted to create extensive growth opportunities during the forecast period. However, the high cost of allergy diagnostics may hamper the growth of the market over the analysis timeframe.
Segments of the Allergy Diagnostic Market
The report has divided the market into segments based on test type, product service, allergen, end-user, and region.
Get Access to the Full PDF Sample of Allergy Diagnostic Market
Test Type: In Vivo Sub-Segment to be Most Productive
The in vivo sub-segment is predicted to generate a revenue of $8,474.9 million throughout the forecast period. The increasing adoption of various in vivo tests such as skin prick tests and the rising reliability and affordability of in vivo tests compared to in vitro tests are expected to fuel the growth of the market sub-segment during the analysis timeframe.
Product Service: Consumables Sub-Segment to be Most Lucrative
The consumables sub-segment is projected to garner $8,658.1 million during the forecast timeframe. The increasing strategic alliances made by leading manufacturers to give allergy diagnostics to customers are expected to upsurge the growth of the allergy diagnostic market sub-segment over the analysis period.
Allergen: Food Allergens Sub-Segment to be Most Profitable
The food allergens sub-segment is predicted to generate a revenue of $5,040.3 million during the estimated period. This is mainly due to the rising cases of food allergies among people all across the globe. Furthermore, the increasing adoption of new tactics by renowned market participants is further expected to fortify the growth of the market during the analysis timeframe.
Ask an Analyst or Schedule a call to Get the Latest Update on the Allergy Diagnostic Market
End-User: Diagnostic Laboratories Sub-Segment to be Most Beneficial
The diagnostic laboratories sub-segment is expected to garner a revenue of $8,199.8 million throughout the forecast period. The increasing trends of diagnostic laboratories due to the rising desire for proper diagnosis among individuals are expected to propel the growth of the market sub-segment during the estimated timeframe.
North America Region to Hold the Highest Share of the Market
The North America region of the allergy diagnostic market is projected to grow at a CAGR of 12.6% throughout the analysis timeframe. This is mainly due to improved medical insurance policies, good healthcare infrastructure, and increasing cases of people with allergies in this region. Moreover, the strong existence of top allergy diagnostic providers and manufacturers in this region is expected to drive the regional growth of the market over the forecast period.
Covid-19 Impact on the Allergy Diagnostic Market
The outbreak of the Covid-19 pandemic has had a negative impact on the allergy diagnostic market. This is mainly due to the complete lockdown and fear of the spontaneous spreading of the virus which made people avoid diagnostic tests. Moreover, severe asthma patients cannot travel due to restricted facilities for physical visits during the pandemic situation which has declined the growth of the market. However, the firms functioning in the allergy diagnostics industry with fresh techniques have created growth opportunities for the market during the crisis period.
Broader Insights Pertaining for the Specific Segments or Regions of the Allergy Diagnostic Market
Key Players of the Market
The major players of the allergy diagnostic market include
- Omega Diagnostics Group PLC
- BIOMÉRIEUX
- Siemens
- Hitachi Chemicals
- Eurofins Scientific
- Danaher
- Stallergenes Greer
- PerkinElmer Inc.
- Neogen Corporation.
- Thermo Fisher Scientific
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry.
Inquire here to get an access to the key companies’ development strategic Report
For instance, in March 2021, Thermo Fisher Scientific, a leading American supplier of scientific instrumentation, reagents and consumables, and software services, announced its collaboration with Mayo Clinic, a nonprofit American academic medical center focused on integrated health care, education, and research. With this collaboration, the companies aimed to accelerate clinical validation and commercialization of certain next-generation sequencing (NGS), mass spectrometry, and immunology diagnostic tools.
Further, the report also summarizes other important aspects including SWOT analysis, the financial performance of key players, the product portfolio, and the latest strategic development.
More about Allergy Diagnostic Market:
- What is Allergy Diagnostics and What are Different Types of Allergies?
- Fundamental Reasons How Allergy Diagnostics Can Save Your Life
- Allergy Diagnostic Market to Observe Significant Growth by 2031 Due to Product Launches and Company Acquisitions by Market Players, such as NEOGEN Corporation, PerkinElmer, and Others
