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Collaborations Like That of Perkin-Elmer and Everly Inc. to Create Vital Opportunities for the Growth of the Global Allergy Diagnostic Treatment Market

An allergy is a misguided hypersensitivity or a damaging immune response to a foreign substance by the immune system. The substances that cause the allergic reaction in the body is called allergens. Some of the allergens include dust mites, grass or tree pollen, pet dander, and many more. Thus, allergy diagnostic refers to the analysis and examination that determines and deduces the nature of the allergy whilst proving effective treatments. Some of the conventional tests for diagnostic of allergies are skin prick, intradermal, patch, blood tests, and others.

Forecast Analysis of the Global Allergy Diagnostic Market

Rising environmental pollution across the globe and rising prevalence of different allergies in developing and developed countries around the world is expected to drive the growth of the global allergy diagnostic market during the forecast period 2021-2022. In addition, incorporation of mHealth in allergy diagnostic, enabling allergy specialists to communicate with their patients through motion sensors, cameras, and video calls is further expected to create immense opportunities for the growth of the allergy diagnostics market during the forecast period. However, extortionate cost of allergy diagnostic instruments is expected to restrain the growth of the market during the forecast period.

According to the report published by Research Dive, the global allergy diagnostics market is expected to generate a revenue of $10,472.92 million by 2028, growing tremendously at a CAGR of 11.50% during the forecast period. The prominent players of the allergy diagnostics market include Siemens, Eurofins Scientific, Stallergenes Greer, Danaher, Hitachi Chemicals, Thermo Fisher, Perkin Elmer, NEOGEN Corporation, Omega Diagnostics Group PLC, BioMerieux, and many more.

Key Players of the Global Allergy Diagnostic Market

The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global liver disease treatment market to grow exponentially.

For instance, in July 2019, Perkin-Elmer, an American global corporation immersed in the business areas of diagnostics, environmental, industrial testing, life science research and food, collaborated with EverlyWell Inc., one of the largest at-home health and wellness testing companies, in order to facilitate innovation and accessibility of consumer-initiated health testing.

In July 2021, Reacta Biotech, a North Wales-based food allergy diagnostic company, secured a GBP2.9 million investment in a funding round led by Praetura Ventures, a venture capital firm based in Manchester, United Kingdom. Reacta will efficiently use the funding to scale up the manufacture of its existing product range and further expand its products portfolio.

In January 2019, AllerGenis, a Data-driven food allergy diagnostics company, entered into a non-exclusive agreement with Luminex Corporation, a dominant company that develops, manufactures, and markets biological testing technologies in the clinical diagnostic and life science industries, so as to adopt Luminex’s bead-based xMAP® technology that would substantially increase the power and scope of AllerGenis’ food allergy diagnostic.

COVID-19 Impact on the Global Allergy Diagnostic Market

The outbreak of COVID-19 has had a negative impact on the growth of the global allergy diagnostic market, owing to the prevalence of lockdowns in various countries across the globe. Lockdowns adversely halted diagnostic procedures in most of the allergic reactions. In addition, severe asthma patients could not travel much due to the restricted facilities for immediate checkups in diagnostic laboratories during the pandemic.

Most Profitable Region

The North America allergy diagnostics market is expected to be most profitable and generate a revenue of $3,445.59 million during the forecast period. Availability of improved medical insurance policies and impeccable healthcare infrastructure in this region is expected to drive the growth of the market during the forecast period. In addition, presence of prominent diagnostic providers and manufacturers in this region is further expected to bolster the growth of the regional allergy diagnostic market during the forecast period.

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