Dublin, June 07, 2022 (GLOBE NEWSWIRE) -- The "Allergy Diagnostics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Allergy Diagnostics Market to Reach US$5.7 Billion by the Year 2026
Global market for Allergy Diagnostics estimated at US$3.8 Billion in the year 2022, is projected to reach a revised size of US$5.7 Billion by 2026, growing at a CAGR of 9.3% over the analysis period.
The global allergy diagnostics market, after decelerating for a while owing to the Covid-19 effect, is back up and growing, led by increasing cases of allergy resulting from exposure to pollution, and increased consumption of processed food as well as dairy and confectionary products.
The growing prevalence of allergy and associated health implications warrants a pressing need for effective diagnosis and treatment. The rapidly increasing incidence of allergy coupled with changing dietary habits is playing a pivotal role in bolstering the allergy diagnostics market. The market growth is also augmented by increasing level of environmental pollution and the resulting increase in the number of individuals suffering from allergic conditions.
Changing lifestyles and dietary patterns coupled with rapid urbanization and increasing level of outdoor and indoor pollution are likely to increase the incidence of allergic conditions. The market growth is estimated to be also propelled by strong demand for in-vitro diagnostic blood tests.
Assay Kits, one of the segments analyzed in the report, is projected to grow at a 10% CAGR to reach US$3.3 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Instruments segment is readjusted to a revised 9.2% CAGR for the next 7-year period. This segment currently accounts for a 28.2% share of the global Allergy Diagnostics market.
Assay kits are anticipated to witness high demand fueled by key factors such as rising preference for assay kits by medical practitioners in allergy testing, high prevalence of allergic diseases, and increasing test volumes. The high product availability and need for repeat purchase in allergy testing is also expected to drive high consumption of assay kits in the coming years.
Despite the high cost of instruments, the segment is forecast to hold a significant share due to the long lifespan of instruments and limited need for frequent installations. The procurement of used instruments by smaller healthcare organizations also expands market share for instruments.
The U.S. Market is Estimated at $1.3 Billion in 2022, While China is Forecast to Reach $622.5 Million by 2026
The Allergy Diagnostics market in the U.S. is estimated at US$1.3 Billion in the year 2022. The country currently accounts for a 34.21% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$622.5 Million in the year 2026 trailing a CAGR of 13.8% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 8.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.8% CAGR while Rest of European market (as defined in the study) will reach US$189.6 Million by the end of the analysis period.
Although developed regions constitute major revenue contributors, developing regions have emerged as hot spots for future growth of allergy diagnostics market. Factors such as increasing public and private sector investments in healthcare domain, rising incidence of allergies, and improvement in healthcare access and rising awareness levels, are favoring market growth in the developing regions.
Services Segment to Reach $1.1 Billion by 2026
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 7.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$544.4 Million will reach a projected size of US$872.6 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$124.1 Million by the year 2026, while Latin America will expand at a 9.6% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Allergens: A Prelude
- Key Allergy Stats
- Allergy: Symptoms and Causes
- Allergic Diagnostics: An Introduction
- Food Allergen Testing
- Impact of Covid-19 and a Looming Global Recession
- Allergy Diagnostics Market Under the Covid Lens
- Telemedicine Gains Prominence amid the Pandemic
- Global Allergy Diagnostics Market Set to Witness Rapid Growth
- With Allergies on the Rise for Whatever Reason Be It Our Neanderthal Genes or Hygiene Hypothesis or Vitamin D Hypothesis, the Need for Effective Diagnostics Has Never Been Greater
- Assay Kits Dominate the Allergy Diagnostics Market
- Inhaled Allergens Segment to Witness Fastest Growth
- US Dominates the Allergy Diagnostics Market, While China to Witness the Fastest Growth
- Rising Demand for In-Vitro Diagnostic Tests for Allergy Diagnosis
Recent Market Activity - Competitive Market Presence - Strong/Active/Niche/Trivial for 67 Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS (Total 100 Featured)
- Alk-Abello A/S
- Allergy Therapeutics PLC
- ALPCO
- Angsana Molecular & Diagnostics Laboratory Pte. Ltd.
- Astra Biotech GmbH
- biomerieux SA
- Demeditec Diagnostics GmbH
- EUROIMMUN Medizinische Labordiagnostika AG
- GA Generic Assays GmbH
- INDOOR Biotechnologies, Inc.
- Lincoln Diagnostics, Inc.
- Omega Diagnostics Group Plc
- R-Biopharm Ag
- Roxall Medizin GmbH
- Siemens Healthineers
- Stallergenes Greer
- Tecan Trading AG
- Theradiag
- Thermo Fisher Scientific Inc.
3. MARKET TRENDS & DRIVERS
- Development of Effective Allergy Diagnostic Products Cuts Down on Healthcare Spending
- Labs Embrace Automation and Advanced Allergy Tests for Fast Turnaround Times
- Food Allergies - A Major and Growing Concern
- Select Digital Technologies to Provide Help in Managing Food Allergy
- Food Allergies Create Opportunities for Food Allergy Testing
- ELISA Gains Lead as Preferred Food Testing Method
- Need to Offer Quality Services at Affordable Costs Prompts Labs to Consider Reagent Rental Agreements
- In-Vitro IgE Molecular Diagnostics to Transform Allergy Testing Market
- Macro Array Diagnostics Unveils Allergy Explorer for Allergy Diagnostics
- Rising Alcohol and Drug Abuse Increases Demand for Allergy Diagnostics
- Increasing Cases of Allergies Drive Development of Advanced Allergy Diagnostics Solutions
- Focus on Single and Protein Allergens
- IgE Antibody Tests
- Allergy Diagnostic Reagents on Microchip
- Allergy Diagnosis Moves from Lab-based to Decentralized POC Tests
- Patch Test to Experience Healthy Growth
- SmartPractice Secures FDA Approval for T.R.U.E. Test(R) Patch Test for Pediatric Use
- Providers of Allergy Diagnostic Services Focus on Vertical Integration
- Allergic Diagnostic Challenges in Patients
- Enhanced Access to Allergy Diagnosis Medical Insurance & Instrument Allowances in the US Widen Market Prospects
- Technological Advancements - Mobile Health Tools for Allergy Patients
- Technological Advancements - Nanotechnology for Allergy Diagnostics
- Application of Nanostructures for In-Vitro Diagnosis of Allergy
- Application of Nanostructures in Drug-sIgE Detection
- Application of Nanostructures for Detection of Allergen-sIgE
- Select Recent Launches in the Allergy Diagnostics Market to Bolster Market Expansion
- EUROIMMUM Develops EUROLINE DPA-Dx Pollen Southern Europe 1 Test for Pollen Allergies
- Hycor Biomedical Secures FDA Clearance for NOVEOS Allergy Testing System
- ASI Introduces IVT Allergy(R) 3 Screen Panel for Allergy Skin Testing
- CLA-1(TM) Luminometer In-Vitro Allergy Testing Platform for Accurate, Reliable Results
- Growth Drivers
- Increasing Prevalence and Incidence of Allergic Disorders to Drive the Demand for Allergy Diagnostics
- Environmental Changes and Pollution Aggravate Incidence of Allergic Reactions, Resulting in Increased Need for Allergy Diagnostics
- Major Environmental Factors with Link to Allergic Diseases
- Growing Number of Food Allergy Cases Fuels Demand for Allergy Testing Kits
- Factors Responsible for Rising Prevalence of Food Allergy
- Burgeoning Aging Population and Longer Life Expectancy to Drive Allergy Diagnostics Market
- Market Restraints
- Inadequate Knowledge about Food Allergy Inhibits Growth of Allergy Diagnostic Market
- Expensive Nature of Allergy Diagnostics Approaches Limits Market Growth
- New Regulations and Statutory Provisions to Affect Diagnostic Allergen Extracts
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/6wv8y2
