Overview:

The global allergy diagnostics market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. The testing and treatment of allergy is commonly referred as allergy diagnostics. In this health condition, the immune system of human body generates allergic response against particular substance, which is considered harmful by body.

The allergy is commonly categorized into two types that are seasonal allergy and lifelong allergy. Also, there are various types of allergy viz. food allergy, drug allergy, latex allergy, insect allergy, pet allergy, pollen allergy, and few others.

Market Dynamics:

Growing burden of various types of allergies across the globe is a key factor driving growth of the global allergy diagnostics market. For instance, according to the American College of Allergy, Asthma and Immunology, around 10% to 30% of global population suffer from seasonal allergies.

In addition, growing incidence and prevalence of food allergy across the globe is a major factor resulting in the market growth. For example, as per statistics published by Food Allergy Research & Education, every year around 200,000 individuals in the US require emergency medical care due to food allergy.

Moreover, growing healthcare access, rising healthcare spending, and increasing awareness about various types of allergy in population over the globe are some other factors supporting growth of the target market.

However, growing allergy testing cost across the globe is a key factor hampering growth of the global allergy diagnostics market to a certain extent. In addition, low awareness about various allergies among population residing in developing countries affecting the global market growth to a certain limit.

Key Trends:

Rising focus on market expansion through various strategic mergers and acquisitions among key players is a key trend driving growth of the global allergy diagnostics market. For instance, in March 2020, Thermo Fisher Scientific Inc. has announced the process of acquisition of QIAGEN N.V. This acquisition will help the company to expand its product portfolio and market presence.

Regional Analysis:

For detailed understanding of market dynamics, the global Allergy Diagnostics market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently North America holds major market share in the global market closely followed by Europe. This is owing to strong market presence of key players in the region. In addition, high medical spending and high awareness about the allergy among individuals in countries in these regions are key factors supporting the market growth.

However, Asia Pacific is expected to witness highest CAGR over the forecast period. Growing population, rising prevalence of various type of allergy, and growing pollution in countries in the region are key factors driving growth of the target market in the region.

Scope of the Report:

Detailed Segmentation:

Global Allergy Diagnostics Market, By Product Type:

• Instruments
• Assay Kits
• Service

Global Allergy Diagnostics Market, By Allergen:

• Inhaled Allergens
• Food Allergens
• Drug Allergens
• Other Allergens

Global Allergy Diagnostics Market, By End User:

• Hospitals
• Diagnostic Laboratories
• Homecare Settings

Key Players Covered:

Key players operating in the global allergy diagnostics market include, Thermo Fisher Scientific Inc., Siemens Healthineers AG, BioMerieux, Hitachi Chemical Diagnostic Inc., HYCOR Biomedical, LincoIn Diagnostic Inc., Stallergenes Greer Ltd, Quest Diagnostics Incorporated, R-Biopharma AG, and Omega Diagnostics Group.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Allergy Diagnostics Market by product type, allergen, end user, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global allergy diagnostics market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.