A recent report published by Infinium Global Research on allergy diagnostics market provides in-depth analysis of segments and sub-segments in the global as well as regional allergy diagnostics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional allergy diagnostics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global allergy diagnostics market. According to the report, the global allergy diagnostics market is projected to grow at a CAGR of 9.15% over the forecast period of 2019-2025.
An allergy is a sensitivity reaction to the human immune system. Several common symptoms of allergy are itchiness, red eyes, asthma attacks, swelling, hay-fever, and other symptoms. There are several kinds of allergies such as skin & dust allergy, drug allergy, food allergy, and insect stings allergy. when an individual’s immune system responds to inoffensive substances known as allergens in the environment allergic reactions arise. Hence, the allergy is required to be treated and diagnosed properly. To detect an allergy several tests such as blood test, skin test, and others are performed. Allergy diagnostics indicate of defining the nature of the allergic disease and decisive its course of treatment.
Growing environmental pollutions and changing dietary habits of individuals are the main factors driving the growth for allergy diagnostics market. Further, increasing occurrence of chronic diseases among the elderly population, growing incidences of allergy due to the weak immune system, and increasing demand for biosimilar drugs due to their cost efficiency are again some of the supporting factors for the growth of allergy diagnostics market. As per European Academy of Allergy and Clinical Immunology (EAACI) in 2016, more than 150 million Europeans were suffering from chronic allergic diseases and it is predicted that by the end of 2025 half of the European population will be affected. Besides, increasing awareness regarding allergic diseases in emerging economies is generating a growth opportunity for the market during the forecast period. On the other hand, low affordability of allergy diagnostics and high capital investments for diagnostics tools may hamper the growth for allergy diagnostics market.
In terms of geographies, North America dominated the growth for allergy diagnostics market followed by Asia Pacific region. In the North America region owing to advanced diagnostic technology, improvement in medical insurance policies, and growing incidents of allergies are some of driving factors for the allergy diagnostics market. Further, the existence of countries such as Canada and the U.S also fuel the growth of the region. In the Asia Pacific region increasing aging population, developing healthcare sectors, growth in disposable income, environmental pollutions, rising incidence of lifestyle diseases and an upsurge in healthcare expenditures are boosting the market growth in this region. Addition to this, growing population and growth in emerging countries such as India and China are also likely to support growth for the market in the Asia Pacific region.
The report on global allergy diagnostics market covers segments such as type, product type, and end user. On the basis of type, the sub-markets include food allergen, inhaled allergen, drug allergen, and others. On the basis of product type, the sub-markets include consumables, assay kits, and instruments. On the basis of end user, the sub-markets include hospitals, laboratories, and academics.
The report provides profiles of the companies in the market such as Thermo Fisher Scientific Inc., bioMérieux S.A., Omega Diagnostics Group PLC, Siemens Healthcare GmbH, Lincoln Diagnostics, Inc., Hitachi Chemical Diagnostics, Inc., Stallergenes Greer plc, HYCOR Biomedical, DST Diagnostische Systeme & Technologien GmbH, and Danaher Corporation.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of allergy diagnostics market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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