The global Allergy Diagnostics and Therapeutics market is forecasted to reach USD 54.71 Billion by 2032, This is mainly contributed by the increase in the prevalence of allergies among the population. The technological advancements in the healthcare industry coupled with the changing lifestyle and food habits of the major population will drive the growth of the market. These allergic diseases can occur at almost any age, though some allergies are most likely to develop for the first time in particular age groups, especially in the geriatric population.
Moreover, the increase in the old aged population as well as the growing prevalence of respiratory diseases, due to increasing pollution and CO2 emissions, are some of the other factors that will fuel the growth of the market. However, expensive equipment and the lack of awareness regarding ailments of allergic diseases is projected to restrain the growth of the market.
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Key Coverage of the Report
- Region and country wise statistics of Allergy Diagnostics And Therapeutics from the period 2016-2032. While 2016 and 2017 have been utilized as historical data, 2023 is considered the base year. 2019-2032 have been derived as forecasts.
- Estimation of the market size along with historical and forecasted trend analysis.
- Various products available for the end user of Allergy Diagnostics and Therapeutics has been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- Share of allergen type including food, inhaled, and the drug has been estimated.
- Healthcare & pharmaceuticals regulatory framework of each region.
- Regional up-coming Allergy Diagnostics and Therapeutics use outlook.
- Status of on-going trials and developments.
- Regional prevalence of end users and technology has been mapped.
- Demand and supply gap analysis
- Regional competitors pricing strategy
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market trends (drivers, constraints, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Allergy Diagnostics And Therapeutics Market
- Allergy Diagnostics And Therapeutics market is expected to grow at a CAGR of 4.7% in terms of value and is forecasted to reach USD 54.71 Billion in 2032.
- Advancements in the healthcare and pharmaceuticals industries to detect allergic diseases in patients is the factor driving the growth of the segment.
- For instance, assay kits are necessary and readily available consumables, used in life science research, drug discovery & development, and environmental monitoring.
- The increasing population and carbon dioxide emission, leading to increasing cases of respiratory allergies, will drive the growth of the inhaled allergen type segment.
- The in vivo test accounts for a larger market share of ~60% in the year 2023.
- In vivo tests are widely used by healthcare and research industries since they are able to simulate realistic and clinically relevant test environment and conditions.
- Antihistamines are used to treat allergic diseases, especially rhinitis. It is an inexpensive, and generic drug that provides relief from nasal congestion, sneezing, or hives caused by pollen, dust mites, or animal allergy.
- The diagnostic laboratories account for the largest market share of ~52% in the year 2023, owing to the growing prevalence of allergic diseases and the need for proper treatment and detection of those diseases.
- The growth of the academic research laboratories and institutes segment is contributed by the rising government and non-government investments towards research projects conducted by academic and research institutes.
- The growth of the European market is contributed by a developed pharmaceutical industry and increasing demand for diagnosis methods and therapeutics.
- The Asia Pacific region is forecasted to witness the highest growth rate of 5.8% during the forecast period owing to developing healthcare & pharmaceutical industry in this region.
- Asia Pacific has been adopting and advancing itself in terms of technology, owing to the growing population; rise in the number of people suffering from allergic and respiratory diseases, and the need for better diagnostic methods.
Companies considered and profiled in this market study
Omega Diagnostics, Thermo Fisher Scientific, Stallergenes Greer, Siemens Healthcare, bioMerieux, Lincoln Diagnostics, Alcon Laboratories, HOB Biotech Group, Hycor Biomedical, and Hitachi Chemical Diagnostics, among others.
The companies have adopted various strategies including mergers and acquisitions, contracts, agreements, and partnerships to hold ongoing trails and come up with new developments in the market.
- The valuation for Allergy Diagnostics and Therapeutics market was USD 38.03 Billion in 2023, and it is forecasted to reach USD 54.71 Billion by 2032.
- The market is segmented on the basis of product into instruments, consumables, and services.
- The consumables segment accounts for the largest market share of ~50% in the year 2023 and is forecasted to witness the highest growth rate of 5.5% during the forecast period.
- The market is segmented on the basis of allergen type into food, inhaled, and drug.
- The inhaled allergen type accounts for the largest market share of ~50% in the year 2023 and is also forecasted to witness the highest growth rate of 5.8% during the forecast period.
- The increasing cases of allergic asthma, due to exposure to some harmless substances, such as plant pollen, mold, or animal hair, skin or saliva, will fuel the growth of the inhaled allergen type segment.
- The market is segmented on the basis of test type into in vivo and in vitro.
- The in vitro test is forecasted to witness a higher growth rate of 5.3% during the forecast period.
- The growth of in vitro tests can be due to its simplicity, repeatability, and accuracy of allergy detection. Moreover, advancements in in-vitro methods of testing such as miniaturized & automated methods will propel the demand of these test types.
- The market is segmented on the basis of drug class into antihistamines, corticosteroids, mast cell stabilizers, leukotriene inhibitors, nasal anticholinergics, decongestants, immunomodulators, autoinjectable epinephrine, and immunotherapy.
- The immunotherapy drug class is forecasted to witness the highest growth rate of 7.7% during the forecast period.
- The growth of immunotherapy is contributed by the increasing cases of cancer and the rise in cancer research activities. It is a type of cancer treatment that helps the immune system fight cancer.
- The market is segmented on the basis of end users into academic research institutes, hospitals, and diagnostic laboratories.
- The hospital segment is forecasted to witness the highest growth rate of 6.8% during the forecast period, due to the expanding healthcare industry as well as government expenditure on the research and treatment of deadly diseases like cancer.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America, and MEA.
- North America accounts for the largest market share of ~42% in the year 2023 and is anticipated to maintain its dominance throughout the forecast period, owing to the presence of mature healthcare and pharmaceutical industry.
- Moreover, funding in research and development, especially in the US is another factor driving the growth of the market in the region.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2032. For the purpose of this study, have segmented the global Allergy Diagnostics And Therapeutics market on the basis of product, allergen type, test type, drug class, end user, and region:
Products Outlook (Revenue, USD Billion; 2023-2032)
Allergen type Outlook (Revenue, USD Billion; 2023-2032)
Test type Outlook (Revenue, USD Billion; 2023-2032)
- In Vivo
- In Vitro
Drug class Outlook (Revenue, USD Billion; 2023-2032)
- Mast Cell Stabilizers
- Leukotriene Inhibitors
- Nasal Anticholinergics
- Autoinjectable Epinephrine
End users Outlook (Revenue, USD Billion; 2023-2032)
- Academic Research Institutes
- Diagnostic Laboratories
Regional Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Asia Pacific
- Latin America
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