Global Allergy Diagnostics Market: Executive Summary on Trends, Latest Developments, Growth Drivers & Risks, Favourite Brands, and Regional Leaders Overview (Includes Business Impact of COVID-19)

                                          
The global allergy diagnostics market was valued at US$ 1,732.6 Mn in 2017, and is expected to register a CAGR of over 12%. The report offers in-depth insights, revenue details, and other vital information regarding the global allergy diagnostics market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report also offers insightful and detailed information regarding the various key players operating in the global allergy diagnostics market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global allergy diagnostics market is segmented on the basis of product type, allergen type, end user, and region.


Allergy is commonly considered as abnormal immune response of body against foreign particles. There are various types of allergy such as drug allergy, food allergy, contact dermatitis, latex allergy, seasonal allergy, animal allergy etc. Effective treatment of allergy includes identification and avoiding allergy that trigger symptoms using various medical therapies and medications.

Global Allergy Diagnostics Market Dynamics:


Rising incidence of the allergic conditions globally is a major factor driving growth of the global allergy diagnostics market. Food related allergy has increased across the globe in recent years, due to increasing use of chemicals in food production, the majority of food allergies are triggered by presence of certain chemicals in food. Furthermore, prevalence of food allergy is increasing among the children, due to weak immunity power of their body. According to Centers for Disease Control and Prevention (CDC), in 2015, prevalence of food allergy in children increased by 50% between 1997 and 2012 globally.

In addition, increasing environmental pollution and changing lifestyle such as increasing preference for junk food among individuals are the other factors supporting growth of the global allergy diagnostics market.
However, false positive results during diagnosis is a primary factor expected to hamper growth of the global allergy diagnostics market. In addition, less awareness about available medical therapies for allergy diagnosis among individual in the rural area of emerging economies and stringent regulations by regulatory authorities for allergy diagnostic kits and medications, which are other factors expected to hamper growth of the target market, but to a certain extent.

Development of high quality and more accurate diagnostic test to reduce the chances of false results is expected to create high potential revenue opportunities for existing as well as new entrants in the target market.

Market analysis by product type:

On the basis of product type segmentation, assay kits segment is expected to contribute major revenue share and expected to maintain its dominance over the forecast period. Also, assay kits witness highest CAGR of over 13%, owing to high preference for assay kits in allergy testing by medical practitioners and high product availability across the globe.

Market analysis by allergen type:

Among all the allergen type, inhaled allergen segment is expected to register highest revenue as well as CAGR of over 12%, as it is a most common type of allergy causes due to immediate hypersensitivity reaction.
Increasing environmental pollution around the globe is also a major factor supporting growth of inhaled allergen type segment market.

Market analysis by end user:

Among all the end user, laboratories segment is expected to contribute major revenue share and expected to maintain its dominance over the forecast period. Also, laboratories witness highest CAGR of over 12% during the forecast period 2017“2026.

Increasing number of laboratories and rising patient pool are major factors fueling growth of the laboratory segment market. Also, hospital segment is expected to register second highest revenue growth in the forecast period, owing to rapid hospital infrastructure development in emerging countries.

Market analysis by region:

North America market is expected to dominate the global allergy diagnostics market, and it accounts for largest market revenue over US$ 600 million in 2017 as compared to that of markets in other regions, owing to presence of leading manufacturers and high market penetration in the region. Also, Asia Pacific market is expected to register highest CAGR than that of other regions, owing to development in healthcare sector and increasing prevalence of allergy in countries in the region. Other growth supporting factors includes, increasing awareness about the availability of allergy diagnostic test among the individuals, social awareness initiatives for example, in India, IIA (Indian Academy of Allergy) have been initiating many programs to spread awareness, educate, and update about allergy among population. In 2017, IIA conducted awareness seminars in various cities of India during the World Allergy Week from 2nd April, 2017 to 8th April, 2017.

Furthermore, increasing number of people getting affected by allergy is becoming more frequent in countries in the Asia Pacific region, is an another factor propelling growth of the allergy diagnostics market in the region. For example, in Australia, one in three people are prone to develop allergies at least once in their lifetime. Food allergy is also found in one in 20 people and one in 100 will have a life-threatening allergic reaction known as anaphylaxis.
In 2017, Europe accounted for the second largest revenue share contribution to the global target market, owing to increasing prevalence of chronic allergy in countries in the region. According to study published by The European Academy of Allergy and Clinical Immunology (EAACI), in 2015 about 150 million individuals in Europe suffered from chronic allergic diseases. Also, it is estimated that more than 50% of the total European population may suffer from some type of allergy before the year 2025, this in turn expected to boost growth of the Europe allergy diagnostics market.

Increasing mergers, acquisitions, and collaborations among leading market players in various region in order to enhance product portfolio and to develop more accurate allergy diagnostic kits expected to support growth of the target market. For instance, in October 2013, Quest Diagnostics Inc., a leading global provider of diagnostic information services, acquired ConVerge Diagnostic Services, LLC.

Also, in November 2016, Stallergenes Greer collaborated with the Sean N. Parker Center for allergy and asthma research at Stanford University (Stanford) to identify potential biomarkers of allergy immunotherapy (AIT) efficacy.
Market Segmentation:

 Global allergy diagnostics market segmentation, by product type:

  
Assay Kits
  
Instruments
  
Services

Global allergy diagnostics market segmentation, by allergen type:

  
Inhaled Allergen
  
Food Allergen
  
Drug Allergen
  
Others

Global allergy diagnostics market segmentation, by end user:

  
Laboratories
Hospitals
  
Academics
  
Others

Key Market Players included in the report: Global Allergy Diagnostics Market

  
Hitachi Chemical Diagnostics Inc.
  
HOB Biotech Group Suzhou Co. Ltd.
  
HYCOR Biomedical LLC
  
Quest Diagnostics Inc.
  
Stallergenes Greer
  
BioMerieux SA
  
Omega Diagnostics Group PLC
  
Siemens AG
  
Lincoln Diagnostics, Inc.
  
THERMO FISHER SCIENTIFIC INC.

Key Insights Covered: Global Allergy Diagnostics Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Allergy Diagnostics industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Allergy Diagnostics industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Allergy Diagnostics industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Allergy Diagnostics industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Allergy Diagnostics industry.

Research Methodology: Global Allergy Diagnostics Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.