Allergy Diagnostics Market Size, Share, Growth Analysis, By Product(Consumables, Instruments (Immunoassay Analyzers, ELISA Analyzers, Luminometers), By Allergens(Inhaled Allergens, Food Allergens, Drug Allergens, Other Allergens), By Test Type(Vivo Tests (Skin Prick Tests, Patch Tests, Other In Vivo Tests), In Vitro Tests), By End User(Diagnostic Laboratories, Hospital-based Laboratories, Academic Research Institutes, Other End Users), By Region - Industry Forecast 2024-2031

Allergy Diagnostics Market size was valued at around USD 4.3 billion in 2022 and is expected to rise from USD 4.8 billion in 2023 to reach a value of USD 11.1 billion by 2031, at a CAGR of 11% over the forecast period (2024–2031).

The allergy diagnostics market has been witnessing notable growth in the recent past, impacted by the growing prevalence of allergies, improvements in diagnostic technologies, and rising awareness of allergy testing. There has been a notable rise in commonly seen allergic conditions like hay fever, asthma, and multiple food allergies along with numerous environmental factors and lifestyle changes. All these majorly contribute to the expansion of the allergy diagnostics market. Moreover, modernizations in diagnostic technologies and tools, including skin prick tests, vitro testing, and molecular diagnostics improve efficiency and accuracy.

Nevertheless, the global allergy diagnostics market is restrained by different regulatory hurdles and significantly priced diagnostic technologies. Stringent regulations associated with diagnostic tests may notably slow down the market entry of novel products and technologies, which may hamper market growth. Also, the high price of advanced diagnostic technologies may be a challenge for a few patients as well as for most healthcare systems. In addition, lack of standardization may hinder market growth. Due to absence of standardized testing procedure, the test may offer variable results, thus reducing overall reliability of allergy diagnostics. Yet, the market is projected to witness considerable growth owing to opportunities like emergence of innovative diagnostic procedures, integration of ML and AI, and heavy investments in healthcare infrastructure and growing awareness of allergies and benefits of diagnostics.

US Allergy Diagnostics Market  is poised to grow at a sustainable CAGR for the next forecast year.