Allergies exhibit diverse manifestations across multiple organs, presenting various symptoms and phenotypes. In Europe, research indicates that approximately 30% of the population experiences allergic rhinoconjunctivitis, 20% suffer from asthma, and 15% have allergic skin diseases. The prevalence of food allergies is on the rise, with increasing severity. Additionally, occupational allergies, medication allergies, and potentially life-threatening insect sting allergies contribute to the expanding allergy epidemic.
According to Data Bridge Market Research, the Allergy Diagnostics Market accounted for USD 4.25 billion in 2021 and is expected to reach USD 9.72 billion by 2029. The market is expected to grow with a CAGR of 10.9% in the forecast period of 2022 to 2029.
“Increasing environmental pollution levels surging the growth of allergy diagnostics market”
Several risk factors, including indoor and outdoor air pollution exposure, allergies, and occupational hazards, influence chronic respiratory illnesses. City dwellers are more susceptible to allergy diseases than rural residents due to increased exposure to environmental pollutants, such as vehicular emissions and industrial activities. Alarmingly, over 80% of the urban population worldwide, particularly in low-income countries, are exposed to air quality levels that surpass the safety standards set by the World Health Organization (WHO). This prevailing trend underscores the significant market potential for allergy diagnostics.
What restraints the growth of the allergy diagnostics market?
“Increased costs regarding the allergy diagnostic instruments restraints the market’s growth”
The growth of the allergy diagnostics market is constrained by increased costs associated with allergy diagnostic instruments. Developing and manufacturing advanced diagnostic instruments involve significant research and development expenditures, along with expensive production processes. These high costs are then passed on to healthcare facilities and patients, making allergy diagnostics less accessible and affordable. As a result, the market's growth potential is limited, as the increased costs pose barriers to adoption and hinder the widespread use of these diagnostic instruments in allergy testing.
Segmentation: Allergy Diagnostics Market
The allergy diagnostics market is segmented on the basis of product and service, allergan, test, end-user, and distribution channel.
- On the basis of product and service, the allergy diagnostics market has been segmented into assay kits, instruments, consumables, and services.
- On the basis of allergan, the allergy diagnostics market has been segmented into inhaled allergens, food allergens, antibiotics, other drugs and chemicals allergens, occupational allergens, miscellaneous plant allergens, contact allergens, and others.
- On the basis of test, the allergy diagnostics market has been segmented into in-vitro test and in-vivo test.
- On the basis of end-user, the allergy diagnostics market has been segmented into hospitals, diagnostic laboratories, academic research laboratories, and others.
- On the basis of distribution channel, the allergy diagnostics market has been segmented into direct and indirect.
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Recent Developments
- In 2021, Hitachi Chemical Diagnostics, Inc. has been replaced by Minaris Medical America, Inc. By uniting the medical business group firms under the Minaris Medical brand, Hitachi wants to boost its global position and increase commercial activities in the field of in-vitro diagnostics. Both companies are owned by Showa Denko Materials Co., Ltd.
- In 2021, PerkinElmer Inc. has reached an agreement to purchase Immunodiagnostic Systems Holdings PLC. PerkinElmer Inc. will be able to strengthen its position in the ImmunoDiagnostics (IDS) industry as a result of the acquisition. EUROIMMUN Medizinische LABORDIAGNOSTIKA AG, a firm that sells allergy products and services, will take over IDS.
The Prominent Key Players Operating in the Allergy Diagnostics Market Include:
- Thermo Fisher Scientific Inc., (U.S.)
- Siemens Healthcare GmbH (Germany)
- Danaher (U.S.)
- Omega Diagnostics Group PLC (U.K.)
- bioMérieux (France)
- Romer Labs Division Holding (Austria)
- EUROIMMUN Medizinische Labordiagnostika AG (Germany)
- HollisterStier Allergy (U.S.)
- NEOGEN Corporation (U.S.)
- Eurofins Scientific (Luxembourg)
- Minaris Medical America, Inc. (U.S.)
- Stallergenes Greer (U.K.)
- HOB Biotech Group Corp., Ltd. (China)
- HYCOR Biomedical (U.S.)
- R-Biopharm AG (Germany)
- AESKU.GROUP GmbH (Germany)
- ACON Laboratories, Inc. (U.S.)
- Lincoln Diagnostics, Inc. (U.S.)
- Astra Biotech GmbH (Germany)
- Erba Group (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of allergy diagnostics market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Latin America Allergy Diagnostics Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Latin America vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
