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Allergy Diagnostic Market Report

RA01184

Allergy Diagnostic Market by Product/Service (Consumables, Instruments, and Services), Allergen (Inhaled Allergens, Food Allergens, Drug Allergens, and Other Allergens), End-user (Diagnostic Laboratories, Hospital-based Laboratories, Academic Research Institutes, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

RA01184

Pages: 180

Oct 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Allergy Diagnostic Market

Global Allergy Diagnostic Market Analysis

The global allergy diagnostics market size is predicted to garner $10,472.92 million in the 20212028 timeframe, growing from $4,465.31 million in 2020, at a healthy CAGR of 11.50%.

Market Synopsis

Strategic alliances among market players, along with rising levels of environmental pollutions, is expected to accelerate the growth of the allergy diagnostics market.

However, expensive cost of allergy diagnostics instruments might be a restricting factor for the market.

According to the regional analysis, the Asia-Pacific allergy diagnostics market is anticipated to grow during the review period and expected to generate revenue of $2,827.69 million in 2028, with CAGR of 12.90%, due to increasing infrastructures of healthcare in the region.

Allergy Diagnostics Overview

An allergy is a reaction or hypersensitivity that is caused by immune system. The substance that causes allergic reactions is called allergen, for example pollen, dust mites excretion, pet dander, and others. Some of the common allergies are drug allergy, mold allergy, allergy to insects, food allergy, and skin allergies. Moreover, allergy diagnostics is the examination that can determine the nature of allergy and then its treatment. Some of the common tests for diagnostic of allergies are intradermal, skin prick, patch, and blood tests.

Impact Analysis of COVID-19 on the Global Allergy Diagnostic Market

 The novel coronavirus pandemic had a devastating effect on several industries, including the allergy diagnostics market that experienced a declined growth during this period. Due to complete lockdowns and fear of spreading of corona virus, diagnostic procedures are avoided in most of the allergic reactions. Moreover, allergists across the globe are preferring the use of telemedicine for rhinitis and asthma during the COVID-19 outbreak. Therefore, such factors can modest the global market growth.

In addition to this, a research article in Italy on Clinical and Molecular Allergy in October 2020, revealed that doctors are facing difficulties in the treating the patients of chronic diseases. Therefore, most of the allergies are treated by telemedicine or postponed. Also, severe asthma patients cannot travel much due to limited facilities for face-to-face visits under serious conditions. The above-stated factors show that the pandemic generates low growth in the market during the pandemic times.

Increasing Environmental Pollution Level to Surge the Market Growth

The global allergy diagnostics industry is witnessing a massive growth mainly due to increasing air pollution that can cause chronic respiratory diseases, thereby driving the market growth. Also, WHO (World Health Organization) revealed that approximately 80% of the people live in urban areas, therefore they are highly affected by air quality, mostly in low-income countries. Moreover, there are many studies that revealed the relationship between the air pollution and allergic rhinitis, asthma, and other disorders that are leading to the overall growth of allergy diagnostics.

Equivalently, companies that are emerging in allergy diagnostics industry are already leading market players to innovate strategies for customers. For example, on 20 February 2020, The UK’s National Measurement Laboratory (NML), launched the first-ever multi-allergen reference material kit containing five common allergens at LGC. Some of the common allergen kits include egg, milk, walnut, hazelnut, and almond. These types of initiatives from market leaders are also predicted to drive the growth of the market.

To know more about global allergy diagnostics market drivers, get in touch with our analysts here.

High Cost of Allergy Diagnostic to Restrain the Market Growth

The allergy diagnostics instruments are very costly; therefore, they are charging high cost on service. Some of the common diagnostic instruments are ELISA analyzers, luminometers, immunoassay analyzers, blot analyzers, and scanners. Moreover, cost of immunoassay analyzer is USD 10,000, and cost of fully automated analyzers is around USD 14,000. Also, such equipment require maintenance, laboratory supervision, operational cost, and others. All such factors are anticipated to hinder the market value of the allergy diagnostics in the next few years.

Growing Trends of mHealth in the Allergy Diagnostic to Create Massive Investment Opportunities

The global allergy diagnostics market is growing at a very fast pace therefore the researchers and scientists have paced up their research and development activities to develop latest technology devices for better use of allergy diagnostics using mobile phones. Moreover, incorporating mHealth in allergy diagnostics can help allergist to communicate with their patients with the help of motion sensors, texting, camera, and video calls. Therefore, allergy diagnostics by mobile health tools helps doctors to understand the level of allergy by documentation of symptoms, thereby positively affecting the market growth.

Furthermore, allergy diagnostics industry already has leading market players innovating strategies to attract customers. For example, Acar’Up Consumer Health, Belgian based healthcare company, launched “ExAller dust mite allergy self-test”. This test kit helps patient to take self-test at home in five minutes, by detecting specific antibodies in the blood that is caused by immune system in reaction with dust mite. All the products that the company offers are fully clinically certified. All such aspects may further lead to lucrative market opportunities for key players in the upcoming years.

To know more about global allergy diagnostics market opportunities, get in touch with our analysts here.

Allergy Diagnostic Market
By Product Service Type

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Based on product/service type, the market has been divided into Consumables, instruments, and services sub-segments of which Consumables sub-segment is projected to generate the maximum revenue as well as show the fastest growth.

Source: Research Dive Analysis

The consumable sub-segment is predicted to have a dominating as well as fastest growing market share in the global market. The sub-segment is expected to register a revenue of $5,473.57 million during the forecast period. Increasing number of allergies that require quick diagnosis are some of the factors that accelerate the market growth. Moreover, key players operating in the market are adopting strategic alliances in allergy diagnostics to customers. For instance, bioMérieux India Private Limited, one of the largest players in the market, launched VIDAS Allergy panel, the main aim of this panel is to investigate the food and respiratory allergens. These factors and strategic alliances by key companies may bolster the growth of the sub-segment during the forecast period

Allergy Diagnostic Market
By Allergen

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On the basis of allergen, the market has been sub-segmented into Inhaled Allergens, food allergens, drug allergens, and other allergens. Among the mentioned sub-segments, the food allergen sub-segment is predicted to show the fastest growth and inhaled allergen garner a dominant market share.

Source: Research Dive Analysis

The food allergen sub-segment of the global allergy diagnostics market is projected to have the fastest growth. It is also projected to surpass $3,216.35 million by 2028, with an increase from $1,269.10 million in 2020. This growth in the market can be attributed to rising food allergies among the people in both developing and developed countries. Moreover, key market players are adopting strategies to sustain in competitive environment. For instance, Romer Labs Division Holding GmbH, global suppliers of diagnostic solutions, announced in 2019, that they have started food allergen testing in APAC centers. All such elements may increase the demand for sub-segment and further surge the market growth.

The inhaled allergen sub-segment of the global allergy diagnostics market is projected to have the dominant share. It is also projected to surpass $4,499.92 million by 2028, with an increase from $1,972.73 million in 2020. This growth in the market can be attributed to increasing environmental pollution and pollens that is coupled with other factors such as dust, mold, and fungus. All such elements may increase the demand for inhaled allergen and further surge the market growth.

Allergy Diagnostic Market
By End Use

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On the basis of end-user, the market has been sub-segmented into Diagnostic Laboratories, hospital-based laboratories, academic research institutes, and others. Among the mentioned sub-segments, the Diagnostic Laboratories sub-segment is predicted to show the fastest as well as garner a dominant market share.

Source: Research Dive Analysis

The diagnostic laboratories sub-segment of the global allergy diagnostics market is projected to have the fastest as well as dominant growth in the market. It is also projected to surpass $5,194.98 million by 2028, with an increase from $2,135.72 million in 2020. The growth of the sub-segment is mainly attributed to increasing trends of diagnostic laboratories owing to preferences of proper diagnosis among the patients along with growing demand for independent diagnostic laboratories. All such elements may increase the demand for diagnostic laboratories and further surge the market growth.

Allergy Diagnostic Market
By Region

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The allergy diagnostics market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Source: Research Dive Analysis

The Market for Allergy Diagnostics in North America to be the Most Dominant

The North America allergy diagnostics market accounted $1,553.93 million in 2020 and is projected to register a revenue of $3,445.59 million by 2028. The extensive growth of the North America allergy diagnostics market is mainly driven by improved medical insurance policies, number of people with allergies, good healthcare infrastructure, and advanced diagnostic technologies. Moreover, the strong presence of leading allergy diagnostics providers and manufacturers that offer innovative allergy diagnostics tests is fueling the market growth across the globe. These factors will ultimately drive the demand in the allergy diagnostics market across the region.  

The Market for Allergy Diagnostics in Asia-Pacific to be the Fastest Growing

The share of Asia-Pacific allergy diagnostics market is expected to rise at a CAGR of 12.90%, by registering a revenue of $2,827.69 million by 2028. The growth shall be a result of increasing environmental pollutions that can cause allergic diseases such as asthma, drug allergy, rhinitis, skin allergy, dermatitis, and other allergies. In addition to this, according to a research article, Desiderio Passali et al. published in January 2018, increasing prevalence of allergic rhinitis from 15%–25%. Moreover, it is mostly common among the young adults, children, and adolescents. Such aspects may bolster the demand for allergy diagnostics market, in the upcoming years.

Competitive Scenario in the Global Allergy Diagnostic Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Competitive Scenario in the Global Allergy Diagnostic Market

Source: Research Dive Analysis

Some of the leading allergy diagnostics market players are Thermo Fisher, Perkin Elmer, Danaher, Hitachi Chemicals, BioMerieux, Omega Diagnostics Group PLC, Siemens, Eurofins Scientific, Stallergenes Greer, and NEOGEN Corporation.

Porter’s Five Forces Analysis for the Global Allergy Diagnostic Market:

  • Bargaining Power of Suppliers: The service suppliers of allergy diagnostics are high in number and are larger and more globalized. So, there will be less threat from the suppliers.
    Thus, the bargaining power of suppliers is low. 
  • Bargaining Power of Buyers: Buyers demand cost effective allergy diagnostics kits including virtual consultations. This has increased the pressure on the allergy diagnostics providers to offer the best service in a cost-effective way. Thus, many suppliers are offering best yet cost–effective allergy diagnostics. This gives the buyers the option to freely choose allergy diagnostics that best fits their preference.
    Thus, the bargaining power of the buyers is high. 
  • Threat of New Entrants: Companies entering the allergy diagnostics market are adopting various innovations such as developing allergy diagnostics that are connected by apps.
    Thus, the threat of the new entrants is moderate. 
  • Threat of Substitutes: There are no substitute available for allergy diagnosticss, because it is more accurate and effective as suggested by many studies.
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including Thermo Fisher and Perkin Elmer. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
    Therefore, competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

 North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Product/service

  • Consumables
  • Instruments
  • Services

  Segmentation by Allergen

  • Inhaled Allergens
  • Food Allergens
  • Drug Allergens
  • Other Allergens

  Segmentation by End-user

  • Diagnostic Laboratories
  • Hospital-based Laboratories
  • Academic Research Institutes
  • Others

  Key Companies Profiled

  • Thermo Fisher
  • Perkin Elmer
  • Danaher
  • Hitachi Chemicals
  • BioMerieux
  • Omega Diagnostics Group PLC
  • Siemens
  • Eurofins Scientific
  • Stallergenes Greer
  • NEOGEN Corporation.

Frequently Asked Questions
 

A. The size of the global allergy diagnostics market was over $4,465.31 million in 2020 and is projected to reach $10,472.92 million by 2028.

A. Thermo Fisher, Perkin Elmer, and Siemen are some of the key players in the global allergy diagnostics market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia-Pacific allergy diagnostics market is anticipated to grow at 12.90% CAGR during the forecast period.

A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.

A. Perkin Elmer and Siemen are investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By product & service trends
2.3.By allergens trends
2.4.By end-users trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis

3.8.1.Stress point analysis
3.8.2.Raw material analysis
3.8.3.Manufacturing process
3.8.4.Application analysis
3.8.5.Operating vendors

3.8.5.1.Raw material suppliers
3.8.5.2.products & Services manufacturers
3.8.5.3.products & Services distributors

3.9.Strategic overview

4.Allergy Diagnostics Market, by Product & Service

4.1.Overview

4.1.1.Market size and forecast, by products & services

4.2.Consumables

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region, 2020-2028
4.2.3.Market share analysis, by country 2020 & 2028

4.3.Instruments

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region, 2020-2028
4.3.3.Market share analysis, by country 2020 & 2028

4.4.Services

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region, 2020-2028
4.4.3.Market share analysis, by country 2020 & 2028

5.Allergy Diagnostics Market, by Allergens

5.1.Overview

5.1.1.Market size and forecast, by allergens

5.2.Inhaled Allergens

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2020-2028
5.2.3.Market share analysis, by country 2020 & 2028

5.3.Food Allergens

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2020-2028
5.3.3.Market share analysis, by country 2020 & 2028

5.4.Drug Allergens

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region, 2020-2028
5.4.3.Market share analysis, by country 2020 & 2028

5.5.Other Allergens

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region, 2020-2028
5.5.3.Market share analysis, by country 2020 & 2028

6.Allergy Diagnostics Market, by End-user

6.1.Overview

6.1.1.Market size and forecast, by end-users

6.2.Diagnostic Laboratories 

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region, 2020-2028
6.2.3.Market share analysis, by country 2020 & 2028

6.3.Hospital-based Laboratories

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region, 2020-2028
6.3.3.Market share analysis, by country 2020 & 2028

6.4.Academic Research Institutes

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region, 2020-2028
6.4.3.Market share analysis, by country 2020 & 2028

6.5.Other End Users

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by region, 2020-2028
6.5.3.Market share analysis, by country 2020 & 2028

7.Allergy Diagnostics Market, by Region

7.1.Overview

7.1.1.Market size and forecast, by region

7.2.North America

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by products & services, 2020-2028
7.2.3.Market size and forecast, by allergens, 2020-2028
7.2.4.Market size and forecast, by end-users, 2020-2028
7.2.5.Market size and forecast, by country, 2020-2028

7.2.6.U.S.

7.2.6.1.Market size and forecast, by products & services, 2020-2028
7.2.6.2.Market size and forecast, by allergens, 2020-2028
7.2.6.3.Market size and forecast, by end-users, 2020-2028

7.2.7.Canada

7.2.7.1.Market size and forecast, by products & services, 2020-2028
7.2.7.2.Market size and forecast, by allergens, 2020-2028
7.2.7.3.Market size and forecast, by end-users, 2020-2028

7.2.8.Mexico

7.2.8.1.Market size and forecast, by products & services, 2020-2028
7.2.8.2.Market size and forecast, by allergens, 2020-2028
7.2.8.3.Market size and forecast, by end-users, 2020-2028

7.3.Europe

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by products & services, 2020-2028
7.3.3.Market size and forecast, by allergens, 2020-2028
7.3.4.Market size and forecast, by end-users, 2020-2028
7.3.5.Market size and forecast, by country, 2020-2028

7.3.6.Germany 

7.3.6.1.Market size and forecast, by products & services, 2020-2028
7.3.6.2.Market size and forecast, by allergens, 2020-2028
7.3.6.3.Market size and forecast, by end-users, 2020-2028

7.3.7.UK

7.3.7.1.Market size and forecast, by products & services, 2020-2028
7.3.7.2.Market size and forecast, by allergens, 2020-2028
7.3.7.3.Market size and forecast, by end-users, 2020-2028

7.3.8.France

7.3.8.1.Market size and forecast, by products & services, 2020-2028
7.3.8.2.Market size and forecast, by allergens, 2020-2028
7.3.8.3.Market size and forecast, by end-users, 2020-2028

7.3.9.Spain

7.3.9.1.Market size and forecast, by products & services, 2020-2028
7.3.9.2.Market size and forecast, by allergens, 2020-2028
7.3.9.3.Market size and forecast, by end-users, 2020-2028

7.3.10.Italy 

7.3.10.1.Market size and forecast, by products & services, 2020-2028
7.3.10.2.Market size and forecast, by allergens, 2020-2028
7.3.10.3.Market size and forecast, by end-users, 2020-2028

7.3.11.Rest of Europe

7.3.11.1.Market size and forecast, by products & services, 2020-2028
7.3.11.2.Market size and forecast, by allergens, 2020-2028
7.3.11.3.Market size and forecast, by end-users, 2020-2028

7.4.Asia Pacific

7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by products & services, 2020-2028
7.4.3.Market size and forecast, by allergens, 2020-2028
7.4.4.Market size and forecast, by end-users, 2020-2028
7.4.5.Market size and forecast, by country, 2020-2028

7.4.6.China

7.4.6.1.Market size and forecast, by products & services, 2020-2028
7.4.6.2.Market size and forecast, by allergens, 2020-2028
7.4.6.3.Market size and forecast, by end-users, 2020-2028

7.4.7.Japan

7.4.7.1.Market size and forecast, by products & services, 2020-2028
7.4.7.2.Market size and forecast, by allergens, 2020-2028
7.4.7.3.Market size and forecast, by end-users, 2020-2028

7.4.8.India 

7.4.8.1.Market size and forecast, by products & services, 2020-2028
7.4.8.2.Market size and forecast, by allergens, 2020-2028
7.4.8.3.Market size and forecast, by end-users, 2020-2028

7.4.9.South Korea

7.4.9.1.Market size and forecast, by products & services, 2020-2028
7.4.9.2.Market size and forecast, by allergens, 2020-2028
7.4.9.3.Market size and forecast, by end-users, 2020-2028

7.4.10.Australia 

7.4.10.1.Market size and forecast, by products & services, 2020-2028
7.4.10.2.Market size and forecast, by allergens, 2020-2028
7.4.10.3.Market size and forecast, by end-users, 2020-2028
7.4.10.4.Comparative market share analysis, 2020 & 2028

7.4.11.Rest of Asia Pacific

7.4.11.1.Market size and forecast, by products & services, 2020-2028
7.4.11.2.Market size and forecast, by allergens, 2020-2028
7.4.11.3.Market size and forecast, by end-users, 2020-2028

7.5.LAMEA

7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by products & services, 2020-2028
7.5.3.Market size and forecast, by allergens, 2020-2028
7.5.4.Market size and forecast, by end-users, 2020-2028
7.5.5.Market size and forecast, by country, 2020-2028

7.5.6.Latin America  

7.5.6.1.Market size and forecast, by products & services, 2020-2028
7.5.6.2.Market size and forecast, by allergens, 2020-2028
7.5.6.3.Market size and forecast, by end-users, 2020-2028

7.5.7.Middle East 

7.5.7.1.Market size and forecast, by products & services, 2020-2028
7.5.7.2.Market size and forecast, by allergens, 2020-2028
7.5.7.3.Market size and forecast, by end-users, 2020-2028

7.5.8.Africa

7.5.8.1.Market size and forecast, by products & services, 2020-2028
7.5.8.2.Market size and forecast, by allergens, 2020-2028
7.5.8.3.Market size and forecast, by end-users, 2020-2028

8.Company profiles

8.1.Thermo Fisher Scientific 

8.1.1.Company overview
8.1.2.Operating business segments
8.1.3.Product portfolio
8.1.4.Financial Performance
8.1.5.Recent strategic moves & developments

8.2.Perkin Elmer 

8.2.1.Company overview
8.2.2.Operating business segments
8.2.3.Product portfolio
8.2.4.Financial Performance
8.2.5.Recent strategic moves & developments

8.3.Danaher Corporation

8.3.1.Company overview
8.3.2.Operating business segments
8.3.3.Product portfolio
8.3.4.Financial Performance
8.3.5.Recent strategic moves & developments

8.4.Hitachi Chemicals

8.4.1.Company overview
8.4.2.Operating business segments
8.4.3.Product portfolio
8.4.4.Financial Performance
8.4.5.Recent strategic moves & developments

8.5.BioMerieux

8.5.1.Company overview
8.5.2.Operating business segments
8.5.3.Product portfolio
8.5.4.Financial Performance
8.5.5.Recent strategic moves & developments

8.6.Omega Diagnostics Group PLC

8.6.1.Company overview
8.6.2.Operating business segments
8.6.3.Product portfolio
8.6.4.Financial Performance
8.6.5.Recent strategic moves & developments

8.7.Siemens

8.7.1.Company overview
8.7.2.Operating business segments
8.7.3.Product portfolio
8.7.4.Financial Performance
8.7.5.Recent strategic moves & developments

8.8.Eurofins Scientific

8.8.1.Company overview
8.8.2.Operating business segments
8.8.3.Product portfolio
8.8.4.Financial Performance
8.8.5.Recent strategic moves & developments

8.9.Stallergenes Greer

8.9.1.Company overview
8.9.2.Operating business segments
8.9.3.Product portfolio
8.9.4.Financial Performance
8.9.5.Recent strategic moves & developments

8.10.NEOGEN Corporation

8.10.1.Company overview
8.10.2.Operating business segments
8.10.3.Product portfolio
8.10.4.Financial Performance
8.10.5.Recent strategic moves & developments

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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