USD 5.33 Billion
Allergy Diagnostics and Therapeutics Market Size, Share, Growth Analysis, By Product(Instruments, Consumables, and Services), By Allergen(Food, Inhaled, Drug, and Others), By Test(In vivo test, and In vitro test), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2183 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
90
|Figures:
76
Allergy Diagnostics and Therapeutics Market Insights
Global Allergy Diagnostics and Therapeutics Market size was valued at USD 5.33 Billion in 2022 and is poised to grow from USD 5.92 Billion in 2023 to USD 13.75 Billion by 2031, at a CAGR of 11.10% during the forecast period (2024-2031).
The global allergy diagnostics market is anticipated to experience significant growth during the forecast period due to several factors. Firstly, the escalating levels of environmental pollution on a global scale and the increased availability of healthcare insurance are expected to contribute to market expansion. Additionally, the high prevalence of allergic diseases, which imposes a substantial economic burden, and the increased investment by organizations in the field of Allergy Diagnostics are driving market growth.
Changing lifestyle patterns, such as the consumption of unhealthy and processed foods, along with rising pollution levels, are major factors fuelling the growth of the global Allergy Diagnostics market in the foreseeable future. Furthermore, there is a notable increase in food allergies, primarily attributed to individuals' lack of awareness about maintaining a healthy diet. This trend is expected to drive the demand for Allergy Diagnostics in the coming years. The integration of mobile health (mHealth) solutions in allergy diagnosis is another significant driver of market growth during the forecast period. Moreover, ongoing research and analysis on new treatment approaches and the adoption of advanced diagnostic strategies for allergies present key opportunities in the Allergy Diagnostics market. The advancement of technology offers substantial growth prospects in the Allergy Diagnostics market, particularly through the introduction of various types of blood tests aimed at mitigating further health complications. The rapidly changing lifestyle patterns and the increased consumption of processed foods, especially among the younger population, are expected to drive the growth of the global Allergy Diagnostics market in the coming years.
US Allergy Diagnostics and Therapeutics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Drug
Fastest Growth
Drug
Growth Rate
11.10% CAGR
Global Allergy Diagnostics and Therapeutics Market ($ Bn)
Country Share for North America Region (%)
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Allergy Diagnostics and Therapeutics Market Segmental Analysis
The global allergy diagnostics and therapeutics market is segmented on the basis of product, allergen, test, and region. By product, the market is segmented into instruments, consumables, and services. By allergen, the market is segmented into food, inhaled, drug, and others. By test, the market is segmented into in vivo test, and in vitro test. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Allergy Diagnostics and Therapeutics Market Analysis By Allergen
In the allergy diagnostics and therapeutics market, inhaled allergies accounted for the highest revenue share. This can be attributed to the escalating occurrences of respiratory allergies caused by the rise in air pollution and industrialization. The Allergy and Asthma Foundation of America estimates that seasonal allergic rhinitis was expected to affect around 81 million individuals in the United States.
The growing prevalence of allergic rhinitis presents promising growth opportunities for the market. Among the different segments, drug allergies are projected to exhibit the fastest compound annual growth rate (CAGR) in the foreseeable future. Drug allergies can lead to severe conditions such as Steven-Johnson syndrome and toxic epidermal necrolysis, particularly in children. Chemotherapy drugs, antiepileptic drugs, and sulfonamide drugs are among the most commonly associated agents with drug allergies.
Allergy Diagnostics and Therapeutics Market Analysis by Test
The in vivo test segment held a substantial market share of 48.85% in the allergy diagnostics and therapeutics market in 2022. This can be attributed to the rising adoption of in vivo tests, which offer convenience, cost-effectiveness, and safety compared to other types of tests. The demand for efficient, rapid, and simple testing options has driven the growth of in vivo diagnostic tests. These tests assess the reactivity and susceptibility of dermal mast cells, providing insights into allergic sensitivity. Standardized allergenic extracts are used in these procedures to ensure reliability during skin examinations.
The in vitro tests segment is anticipated to witness significant growth with a notable compound annual growth rate (CAGR) over the forecast period. In vitro tests are employed to identify allergen-specific immunoglobulin E (IgE). A radio allergo sorbent screening is an in vitro method that detects allergen-specific antibodies of a new immunoglobulin class called IgND. The increasing prevalence of various allergic diseases among the population has heightened the demand for early detection and diagnosis of allergens, driving the need for efficient diagnostic tests or systems and propelling market growth.
Global Allergy Diagnostics and Therapeutics Market By Allergen
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Allergy Diagnostics and Therapeutics Market Regional Insights
The allergy diagnostics and therapeutics market in North America took the lead with a significant revenue. This can be attributed to several factors, including the increasing prevalence of allergies and favorable government initiatives in the region. North America is a developed region with a high level of healthcare expenditure. According to the Asthma and Allergy Foundation of America, the annual cost of nasal allergies in the region ranges between USD 3-4 billion. The presence of regulatory bodies in North American countries is expected to drive advancements in allergy drugs in the near future. These regulatory bodies play a crucial role in raising awareness among consumers about the importance of early diagnosis and therapeutics for allergies.
On the other hand, the Asia Pacific region is projected to exhibit the fastest compound annual growth rate over the forecast period. Within the Asia Pacific, notable markets include Japan, China, and India, which are expected to contribute to the regional market's growth. Key players in these countries are implementing various strategic initiatives to strengthen their dominance. Additionally, Glenmark launched its nasal spray Ryaltris, designed to treat moderate to severe allergic rhinitis, in India.
Global Allergy Diagnostics and Therapeutics Market By Region
- Largest
- Fastest
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Allergy Diagnostics and Therapeutics Market Dynamics
Allergy Diagnostics and Therapeutics Market Drivers
Increased Prevalence and Heavy Economic Burden of Allergic Diseases
- The incidence of allergy disorders is more prevalent among urban dwellers compared to those living in rural areas, primarily due to increased exposure to environmental pollutants in cities.
Rise in Access to Health Insurance
- Hospitals and diagnostic laboratories that have substantial financial resources are more likely to dominate a larger portion of the market. This is because they have the ability to invest in high-volume systems, thanks to their significant capital budgets.
Allergy Diagnostics and Therapeutics Market Restraints
Challenges
- However, the rising costs associated with allergy diagnostic instruments are expected to hinder the growth of the allergy diagnostics market during the forecast period. Additionally, the shortage of allergists could pose further challenges to the market's growth in the near future. This report on the allergy diagnostics market provides comprehensive information on recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and local market players, analysis of opportunities in emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growth, application niches and dominance, product approvals, product launches, geographic expansions, and technological innovations in the market. For more detailed information on the allergy diagnostics market, please contact Data Bridge Market Research for an Analyst Brief. Our team will assist you in making informed market decisions to achieve growth in your business.
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Allergy Diagnostics and Therapeutics Market Competitive Landscape
The global market for allergy diagnostics and therapeutics is highly competitive and characterized by the presence of several key players. These companies focus on strategic initiatives such as product launches, collaborations, partnerships, and mergers and acquisitions to maintain their market position and gain a competitive edge. They also emphasize research and development activities to introduce innovative solutions and stay ahead in the market. The market players strive to expand their geographical presence and strengthen their distribution networks to cater to a wider customer base. Additionally, they invest in marketing and promotional activities to increase product visibility and brand awareness. These players also actively participate in regulatory compliance and adhere to quality standards to ensure the safety and effectiveness of their products. Moreover, technological advancements play a crucial role in the competitive landscape of the allergy diagnostics and therapeutics market. Companies continuously innovate and develop advanced diagnostic tools and therapeutic solutions to meet the evolving needs of healthcare professionals and patients. The competitive landscape is further influenced by factors such as pricing strategies, reimbursement policies, and customer service. Companies aim to offer competitive pricing while maintaining product quality and profitability. They also focus on providing excellent customer service and support to enhance customer satisfaction and loyalty. Overall, the global allergy diagnostics and therapeutics market is marked by intense competition among key players, who strive to differentiate themselves through product innovation, market expansion, and customer-centric strategies.
Allergy Diagnostics and Therapeutics Market Top Player’s Company Profile
- Omega Diagnostics Group PLC (UK)
- bioMérieux SA (France)
- Romer Labs Division Holding (Austria)
- EUROIMMUN Medizinische Labordiagnostika AG (Germany)
- HollisterStier Allergy (US)
- NEOGEN Corporation (US)
- Eurofins Scientific (Luxembourg)
- Minaris Medical America Inc. (US)
- Stallergenes Greer (UK)
- HOB Biotech Group Corp. Ltd. (China)
- HYCOR Biomedical (US)
- R-Biopharm AG (Germany)
- AESKU.GROUP GmbH (Germany)
- ACON Laboratories Inc. (US)
- Lincoln Diagnostics Inc. (US)
- Astra Biotech GmbH (Germany)
- Erba Group (UK)
Allergy Diagnostics and Therapeutics Market Recent Developments
- In August 2022, STAT Medical introduced its inaugural product line comprising a collection of user-friendly at-home allergy test kits. These kits enable individuals to conduct self-screening for a wide array of prevalent food and respiratory allergies using a single finger prick.
- In June 2022, Cambridge-based healthcare testing laboratory, Oncologica, unveiled a novel Allergy focus test designed to assist individuals in identifying the specific global allergens to which their bodies react.
Allergy Diagnostics and Therapeutics Key Market Trends
- Increasing Prevalence of Allergic Diseases: There has been a significant rise in the prevalence of allergic diseases worldwide, leading to a growing demand for allergy diagnostics and therapeutics. Factors such as changing lifestyles, environmental pollution, and dietary habits contribute to the increased occurrence of allergies.
- Rising Demand for Home Testing Services: The demand for at-home allergy testing is on the rise. With the availability of self-testing kits and telemedicine services, individuals can conveniently perform allergy tests in the comfort of their homes. This trend offers greater accessibility and convenience to patients, especially during the COVID-19 pandemic.
Allergy Diagnostics and Therapeutics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global allergy diagnostics and therapeutics market analysis, the increasing prevalence of allergic diseases, technological advancements in diagnostics, and the growing focus on personalized medicine are the key growth drivers. The market is witnessing a shift towards at-home testing, driven by the demand for convenient and accessible allergy testing options. Furthermore, collaborations and partnerships among key players are fostering innovation and the development of advanced diagnostic tools and therapeutic solutions. The dominant region in the global allergy diagnostics and therapeutics market is North America, which accounted for a significant share in terms of revenue. Factors such as the rising incidence of allergies, favorable government initiatives, and high healthcare expenditure contribute to the region's market dominance. On the other hand, the Asia Pacific region is projected to exhibit the fastest growth during the forecast period. Countries like Japan, China, and India are notable markets driving regional growth. Key players in these countries are undertaking strategic initiatives to increase their market presence and cater to the growing demand for allergy diagnostics and therapeutics.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.33 Billion |
| Market size value in 2031 | USD 13.75 Billion |
| Growth Rate | 11.10% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Allergy Diagnostics and Therapeutics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Allergy Diagnostics and Therapeutics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Allergy Diagnostics and Therapeutics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Allergy Diagnostics and Therapeutics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Allergy Diagnostics and Therapeutics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Allergy Diagnostics and Therapeutics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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