The global allergy diagnostics market is on an impressive trajectory, currently valued at approximately USD 6220 million in 2024 and projected to flourish at a compound annual growth rate (CAGR) of 7.7%, reaching an estimated USD 13060.1 million by 2034. This growth is attributed to several key factors, including the increasing prevalence of allergies, technological advancements, and rising patient awareness regarding allergy management.
Allergies have emerged as a significant global health concern, affecting millions and placing considerable strain on medical infrastructures worldwide. The market is witnessing a notable surge due to the rising incidence of allergic conditions, such as food allergies, allergic rhinitis, asthma, and atopic dermatitis. Environmental pollution, changing dietary habits, and genetic predispositions are among the factors driving this increase, underscoring the need for precise and timely diagnostic solutions.
Technological innovations are revolutionizing the allergy diagnostics landscape, leading to the development of more efficient and accurate testing methodologies. Breakthroughs such as allergen microarrays, molecular diagnostics, and advanced immunoassays have enhanced the precision, speed, and responsiveness of allergy tests. These advancements empower healthcare providers to identify specific allergens and tailor treatment strategies to individual patient needs.
Furthermore, the growing awareness among patients and healthcare professionals about the importance of early detection and management of allergies is catalyzing market expansion. Timely identification not only improves patient outcomes but also helps reduce healthcare costs associated with uncontrolled allergic reactions.
Regional Outlook:
The allergy diagnostic market in the United States witnessed growth because of incidences of peanut, milk, and seafood allergies. The prevalence of peanut allergies and food intolerance escalates the demand for allergy diagnostics. In Canada, catalysts include healthcare infrastructure, favorable government and insurance policies, and higher per capita income levels.
The soaring per capita income and healthcare expenditure optimistically impact the allergen diagnostic market growth. The accelerating government and private financing to elevate asthma awareness surges sales of allergy diagnostics in China.
A low GDP and poor healthcare infrastructure inhibit India’s allergy diagnostic industry growth. The incidence of myths and stigmatic ideas about asthma, along with a high degree of illiteracy, stifle allergy diagnostic and therapeutic market expansion.
“The allergen diagnostic market is poised for steady growth ushered by growing prevalence of allergies globally. Technological innovations, elevating healthcare expenditure, and growing awareness about conditions transform the allergy diagnostic market expansion.” Comments an FMI analyst.
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Key Takeaways:
- The fungal allergy diagnostic segment in the product type category to possess a share of 68.8% in 2024.
- In the allergen type category, the inhaled allergens segment to garner a share of 46.8% in 2024.
- The United States allergy diagnostic industry imply augmentation at a CAGR of 7.1% between 2024 and 2034.
- The United Kingdom allergy diagnostic market reflects expansion between 2024 and 2034 at a CAGR of 6.7%.
- China allergy diagnostic industry exhibit upsurge at CAGR of 7.2% between 2024 and 2034.
- From 2024 to 2034, South Korea allergy diagnostic and therapeutic market equates at a CAGR of 6.4%.
- Japan allergy diagnostic market implies expansion at a CAGR of 6.8% through 2034.
Competitive Landscape:
The market is highly competitive because of the presence of numerous established allergy diagnostic vendors. The allergy diagnostic and therapeutic producers use diverse promotional techniques to expand their global outreach. Allergy diagnostics providers emphasize employing organic and inorganic strategies to proliferate their global footprint.
Latest Developments:
- STAT Medical launched its product portfolio in August 2022 with an array of simple at-home allergy test kits that permit anyone to screen for diverse common food and respiratory allergies with a single finger prick.
- Oncologica, a prominent healthcare testing laboratory based in Cambridge, introduced a new Allergyfocus test in June 2022, assisting patients to identify which prevalent global allergens their bodies react to.
Leading Allergy Diagnostic Brands:
- Hitachi Chemical Co. Ltd
- Thermo Fisher Scientific Inc.
- Siemens Healthineers
- Danaher Corporation
- HOB Biotech Group Co
- bioMérieux
- Hycor Biomedical Inc.
- Stallergenes Greer
- R-Biopharm AG
- Lincoln Diagnostics Inc.
Key Segments of Allergy Diagnostic Market Report:
By Product Type:
The market is bifurcated into fungal allergy diagnostic, and neutral lactase enzymes.
By Allergen Type:
Key allergen type present in the industry include inhaled allergens, food allergens, drug allergens, and other allergens.
By Test Type:
The report consists of key test types like in-vivo allergy tests and in-vitro allergy tests.
By End User:
Key end users present in the industry include diagnostic laboratories, hospitals, academic research institutes, and other end users.
By Region:
Analysis of the market has been carried out in key countries of North America, Latin America, East Asia, South Asia and Pacific, Western Europe, Eastern Europe, and the Middle East and Africa.
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