LATAM Allergy diagnostics Market By Products and Services (Assay Kits, Instruments, Consumables and Services), Allergen (Inhaled Allergens, Food Allergens, Antibiotics, Other Drugs and Chemicals Allergens, Occupational Allergens, Miscellaneous Plant Allergens, Contact Allergens And Others), Test (In-Vitro Test and In-Vivo Test), End User (Hospitals, Diagnostic Laboratories, Academic Research Laboratories and Others), Distribution Channel (Direct and Indirect), Country (Mexico, Brazil, Argentina, Chile, Uruguay, Peru, Colombia, Ecuador, Rest of LATAM) Market Trends and Forecast to 2027
Market Analysis and Insights: Latin America Allergy Diagnostics Market
Allergy diagnostics market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 9.2% in the forecast period of 2020 to 2027and expected to reach USD 720.37 million by 2027 from USD 353.67 million in 2019. High incidence of allergic diseases due to increasing environmental pollutions is driving for the market growth.
Allergy diagnostic test is performed through experts in the order to identify allergic reaction in the patient body from any known substances. Allergy diagnostics tests of could activate mild itching, skin redness and inflammation. Increasing awareness towards allergy diagnostics is augmenting the market growth.
Increased number of allergy diagnostics models as compared to the past few years will accelerate the market growth. Rising environmental pollution levels is increasing the allergic diseases. For instance, in 2017, According to an Organisation for Economic Co-operation and Development (OECD) Environment Directorate, due to air pollution there were 2,240 deaths in Israel increasing the allergic diseases is increasing demand for diagnostic of allergic disease for better treatment. Increasing healthcare expenditure will also drive the market. Allergy diagnostics cost in respect to testing kits and diagnostic product which is used at the time of allergy test has become more expensive. For instance, the cost of skin allergy test is around USD 60 to USD 300. Blood test for food allergies may cost around USD 200 to USD 1,000. Medical health insurance may not cover the costs of these allergy tests. For the treatment of allergy diseases, diagnoses through this test are compulsory because without this test, medical physician is unable to tell about the cause and will not be able to treat the symptoms for the disease. Such policies support allergy diagnostics market growth in the forecast period to 2027.
This allergy diagnostics market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Latin America Allergy Diagnostics Market Scope and Market Size
Latin America allergy diagnostics market is segmented of the basis of products and services, allergen, test, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on products and services, allergy diagnostics market is segmented into assay kits, instruments, consumables and services. Assay kits segment is dominating in the market because it is comparatively economical than instruments as well as assay kits provide fast accurate research tool for the detection and identification of foreign particles. For instance, ELISA Kits price USD 320.00 while instrument price USD 8,000.00 to USD 10,000.00 per set. This factor allows market to grow with highest CAGR in the forecasted period of 2027.
- Rising incidence of allergy across the globe is one of the prominent factors for an upsurge demand of allergy diagnostics. This factor has increased the production of assay and instruments used in allergy diagnostics. In the current scenario, the allergy prevalence has increased with environmental pollution level which has enhanced the abundance and induced the chemical modifications of allergens. Thus, increasing utilization of allergy diagnostics assay, services, consumables and instruments is also contributing in market growth.
- Based on allergen, allergy diagnostics market is segmented antibiotics, other drugs and chemicals allergens, food allergens, inhaled allergens, occupational allergens, contact allergens, miscellaneous plant allergens, others. Antibiotics, other drugs and chemicals allergens segment is dominating in the market because most of the patients suffered from antibiotics, other drugs and chemicals allergens associated allergy. As per the published article, around 31.20% patient suffered from allergy reactions in Latin America. This factor allows market to grow with highest CAGR in the forecasted period of 2027.
- Based on test, allergy diagnostics market is segmented in-vitro test and in-vivo test. In vivo-test are dominating in the market because in-vivo test is less expansive as compared to in-vitro test while quality control is difficult in in-vitro test. As per the published research study in National Centre for Biotechnology Information, the in- vivo skin prick test (SPT) is mostly considered as less expensive as compared to in-vitro gamma-immunoglobulin E (IgE) for determination in the diagnoses of allergy.
- Based on end user, allergy diagnostics market is segmented into hospitals, diagnostic laboratories, academic research laboratories and others. Diagnostics laboratories segment is dominating in the market because diagnostic laboratories provide better diagnoses facility as well as availability of medical staffs. According to the official statistics, around 2500 clinical laboratories are present in Mexico.
- Based on distribution channel, allergy diagnostics market is segmented into direct and indirect. Direct sales segment is dominating because of direct supply from manufacturer to hospitals as well as manufacturer find more profit by direct supply of exosomes therapeutics in the hospitals.
Allergy Diagnostics Market Country Level Analysis
Latin America Allergy diagnostics market is analysed and market size information is provided by country, by products and services, allergen, test, end user and distribution channel as referenced above.
The countries covered in the Allergy diagnostics market report are Mexico, Brazil, Argentina, Chile, Uruguay, Peru, Colombia, Ecuador, and Rest of Latin America in Latin America.
Country Level Analysis, By Product and Services
Mexico dominates the allergy diagnostics market as Mexico is the leader in allergy diagnostics manufacturing as well as export major components parts required for allergy diagnostics. For instance, Omega Diagnostics Group PLC will be the leader among the competitors in the market. Latin America allergy diagnostics such as Siemens Healthcare GmbH, R-Biopharm AG, Thermo Fisher Scientific Inc are intensifying their efforts in. Mexico is expected to grow with the highest growth rate in the forecast period of 2020 to 2027 because of increasing cases of various allergies such as food allergy, drug allergy and occupational allergy.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Latin America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Huge Investment for Allergy diagnostics and New Technology Penetration
Latin America allergy diagnostics market also provides you with detailed market analysis for every country growth in allergy diagnostics industry, allergy diagnostics sales, components sales, impact of technological development in diagnostics and changes in regulatory scenarios with their support for the allergy diagnostics market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Allergy diagnostics Market Share Analysis
Latin America allergy diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Latin America presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, concept cars, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Latin America allergy diagnostics market.
The major players covered in the report are Thermo Fisher Scientific Inc., Siemens Healthineers AG, Indoor Biotechnologies, Inc., bioMérieux SA, R-Biopharm AG, among other players domestic and Latin America. Allergy diagnostics market share data is available for Latin America. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many joint ventures and developments are also initiated by the companies worldwide which are also accelerating the Latin America Allergy diagnostics market.
- In February 2017, bioMérieux SA announced that they received 510(k) FDA approval on their product VIDAS which is an automated assay measuring procalcitonin (PCT). The company commercializes their product in the market after receiving 510(k) approval from the FDA.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for allergy diagnostics through expanded model range.
Customization Available : Latin America Allergy Diagnostics Market
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