Global allergy diagnostics and therapeutics market is expected to reach USD 57.31 Billion by 2026 at a CAGR of 6.23% during the forecast period 2019-2026. Rising instances of allergy diseases and growing demand for IVD tests for allergy diagnosis are the two major factors contributing to the growth of the market.
An allergy is defined as a hypersensitivity disease in the body immune system. Allergy arises when an individual’s immune system reacts to any harmless substances known as allergens. Factors which cause allergy include pet dander, pollen, and dust mite excretion. There are various kinds of allergies such as drug allergy, dust allergy, skin allergy, food allergy, mold allergy and allergy to insect stings. Allergic reactions cause destructive consequences for human wellbeing resulting in huge dreariness due to lung, dermatologic and otolaryngologic issue.
- The base year for the study has been considered 2018, the historic year 2016 and 2017 and, the forecast period considered is from 2019 to 2026. The allergy diagnostics and therapeutics market is analyzed on the basis of value (USD Billion).
- The study delivers a comprehensive analysis of global allergy diagnostics and therapeutics market by products, allergen type, test type, drug class, end-users, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global allergy diagnostics and therapeutics market. This report incorporates the industry analysis which is focused on providing an extensive view of the allergy diagnostics and therapeutics market.
- The study also includes attractiveness analysis of products, allergen type, test type, drug class, end-users and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the allergy diagnostics and therapeutics market and a comparative analysis based on their business overviews, industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Rising instances of allergy diseases
- Growing demand for IVD tests for allergy diagnosis
- Evolution of technologically advanced allergy diagnostics products
- Rising healthcare expenditure triggering the development of effective allergy diagnostic & therapeutic products.
- Low adoption and penetration in developing countries due to the high cost of technology
- Presence of ambiguous regulatory framework
- Growing demand from emerging market.
- Severe government regulation
- High capital requirements
- Lack of awareness
Global Allergy Diagnostics and Therapeutics Market Key Findings:
All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment.
The allergy diagnostics and therapeutics market is segmented on the basis of products, allergen type, test type, drug class, and end-users.
- The products segment is classified into instruments, consumables, and services. The consumables segment has dominated the market by holding the highest market share of 52.84% in 2018 as they are an indispensable element in allergy detection.
- The allergen type segment includes food, inhaled and drug. The inhaled segment valued around USD 17.97 billion in 2018. Rising instances of respiratory allergies and asthma are responsible for the dominance of inhaled allergen segment. It is due to the growing demand for allergy testing and introduction of specific allergen for the detection of allergy.
- The test type segment is divided into segments such as in vivo and in vitro. In vivo segment is anticipated to grow with the highest CAGR of 7.18% over the forecast period owing to related benefits such as ease of use, time efficiency, wider availability and sensitivity for clinically valid allergies.
- The drug class segment includes antihistamines, corticosteroids, mast cell stabilizers, leukotriene inhibitors, nasal anticholinergics, decongestants, immunomodulators, auto-injectable epinephrine, and immunotherapy. The antihistamines segment dominated the market with the highest market share of 34.19% in 2018 due to associated benefits with its usage and wide applications in the treatment of allergy diseases.
- The end-users segment includes academic research institutes, hospitals, and diagnostic laboratories. The hospitals and diagnostic laboratories segment is anticipated to hold the highest share of 38.48% in 2026 due to the increasing use of immunoassay tests in allergy diagnosis coupled with improvements in screening techniques which would enable accurate disease diagnosis and stratification for appropriate treatment.
Regional Segmentation Analysis:
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global allergy diagnostics and therapeutics market with USD 12.99 billion in 2018 where as the Asia Pacific region is growing at the faster rate.
- North America is dominating the market due to the rising number of cases of allergic respiratory disorders and the growing awareness regarding allergy diagnostics coupled with the increasing acceptance of in-vitro blood tests in the region.
- Asia Pacific region is growing rapidly in the market. It is due to the presence of high unmet needs, improvising healthcare infrastructure and demand for minimally invasive diagnostic tools from the consumer end.
Global Allergy Diagnostics and Therapeutics Market Competitive Analysis:
Key players in the allergy diagnostics and therapeutics market are bioMerieux, Thermo Fisher Scientific, Danaher Corporation, Omega Diagnostics, Hitachi Chemical Diagnostics, Stallergenes Greer, Siemens Healthcare, Lincoln Diagnostics, Hycor Biomedical, HOB Biotech Group and Alcon Laboratories. For instance, in July 2015, Thermo Fisher launched the Phadia 2500E Laboratory System. This product offers better diagnostic solutions by detecting and quantifying the relevant antibodies in blood samples of the patients to identify the possible allergy or autoimmune sensitivity.
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This study forecasts revenue growth and volume at global, regional, and country levels from 2016 to 2026. Fior Market Research has segmented the global allergy diagnostics and therapeutics market on the basis of below-mentioned segments:
Global Allergy Diagnostics and Therapeutics Market, By Products:
Global Allergy Diagnostics and Therapeutics Market, By Allergen Type:
Global Allergy Diagnostics and Therapeutics Market, By Test type:
Global Allergy Diagnostics and Therapeutics Market, By Drug class:
- Mast Cell Stabilizers
- Leukotriene Inhibitors
- Nasal Anticholinergics
- Autoinjectable Epinephrine
Global Allergy Diagnostics and Therapeutics Market, By End-Users:
- Academic Research Institutes
- Diagnostic Laboratories
Global Allergy Diagnostics and Therapeutics Market, By Regions: