Allergy Diagnostic Market Size to Grow by Generating a Revenue of $16,714.2 Mn by 2031Download Sample Reports Overview
The Global Allergy Diagnostic Market Size is predicted to be valued at $16,714.2 million by 2031, surging from $4,965.4 million in 2021, at a noteworthy CAGR of 13.2%.
Impact Analysis of COVID-19 on the Allergy Diagnostic Market
The coronavirus pandemic has interrupted industrial growth worldwide, generating a disruption for buyers and sellers. The communal transmission of COVID-19 has also generated a negative impact on the allergy diagnostic market, mainly because diagnostic processes were postponed for most allergic disorders owing to severe lockdown and social distancing restrictions. As per a survey conducted in Turkey, allergists preferred the use of telemedicine at a high rate during the COVID-19 outbreak for asthma and rhinitis. However, face-to-face interviews were recommended for more severe allergic disorders such as anaphylaxis and hereditary angioedema. Furthermore, due to the industrial shutdown, a large drop in the global air pollution level was noted at the global level. Such reasons have negatively influenced the global allergy diagnostic market during the COVID-19 pandemic.
Global Allergy Diagnostic Market Analysis
In recent years, environmental contamination levels have substantially increased worldwide. As per the information given by the World Health Organization (WHO), the specialized office of the United Nations (UN) responsible for global health, over 90% of people living across the globe are exposed to air quality levels that exceed the WHO limit. Moreover, every year, around 4.2 million deaths occur due to air pollution. Exposure to allergens, outdoor & indoor air pollution, and occupational exposure are some of the factors responsible for the increased prevalence of chronic respiratory disorders. As a result, the demand for allergy diagnostic kits is expected to skyrocket, fueling the global allergy diagnostic market analysis period.
On the contrary, one of the factors limiting the growth of the global allergy diagnostic market is the high cost of allergy diagnostic kits. Furthermore, low product penetration combined with a scarcity of allergists in low-income countries may limit global allergy diagnostic market demand.
The allergy diagnostic market share is expected to grow due to improved healthcare infrastructure and sustained economic growth, particularly in European countries such as Germany and the UK. Furthermore, organizations operating in Europe are also coming up with unique tactics to strengthen their impact abroad. For instance, in 2021, the Medicines and Healthcare Products Regulatory Agency (MHRA) gave the Reacta Biotech manufacturing facility in Deeside, North Wales permission to produce its patented peanut Oral Food Challenge (OFC) in accordance with good manufacturing practices (cGMP) standards. Reacta Biotech is a clinical diagnostic company committed to providing innovative diagnostics for life-threatening food allergies. The grant will be spent to enhance the accuracy, safety, and efficiency of food allergy testing by establishing Oral Food Challenges (OFCs). These factors reveal cases that the European area can create new potential for the global allergy diagnostic market, in the next few years.
Global Allergy Diagnostic Market, Segmentation
The global allergy diagnostic market is segmented based on test type, product & service, allergen, end-user, and region.
The test type segment is further classified into in vivo and in vitro. Among these, the in vivo sub-segment is anticipated to have a dominant allergy diagnostic market share and surpass $8,474.9 million by 2031, with an increase from $2,588.8 million in 2021.Organ challenge testing and skin tests are the two basic kinds of in vivo allergy tests. Both are meant to prove hypersensitivity and identify the specific antigen that set off the allergic reaction. The growth of this market is significantly influenced by the use of various in vivo diagnostics, such as skin prick tests. These tests are more reliable, safe, practical, and cost-effective than in vitro tests.
Product & Service:
The product & service segment is further classified into consumables, instruments, and services. Among these, the consumables sub-segment is expected to have the dominant market share and surpass $8,658.1 million by 2031, with an increase from $2,485.6 million in 2021.The notable growth of the consumables sub-segment is mainly driven by rapidly expanding cases of allergies including the extensive demand for quick diagnostics to diagnose allergic disorders. Moreover, the government’s assistance policies may create tremendous prospects for the consumables sub-segment during the forecast time.
The allergen segment is further classified into inhaled allergens, food allergens, drug allergens, and other allergens. Among these, the food allergens sub-segment is expected to have lucrative growth and surpass $5,040.3 million by 2031, with an increase from $1,386.2 million in 2021.The surging awareness among consumers about the safety of food goods they consume is further expected to accelerate the need for food allergen testing equipment, in the forecast period. Potentially, key technological breakthroughs in the testing business, such as multi-allergen screening systems, may also produce a favorable impact on the food allergen sub-segment. In addition to this, the strong presence of significant businesses such as Omega Diagnostics Group PLC, Danaher, and BioMérieux SA and their successful strategies are further projected to boost the food allergens sub-segment growth.
The end-user segment is further classified into diagnostic laboratories, hospital-based laboratories, academic research institutes, and others. Among these, the diagnostic laboratories sub-segment is expected to have huge growth and surpass $8,199.8 million by 2031, with an increase from $2,334.6 million in 2021. The notable growth of the sub-segment is mainly driven by increased awareness about the care of allergic disorders, preference for recommended diagnosis from specialists, and vast availability of funding for independent diagnostic laboratory operations.
The allergy diagnostic market share in the Asia-Pacific region is projected to show the fastest growth. This region’s allergy diagnostic market generated a revenue of $1,268.7 million in 2021 and is projected to reach $4,659.9 million by 2031. The increase will be caused by increased environmental pollution, which may cause allergic disorders such as asthma, drug allergy, rhinitis, skin allergy, dermatitis, and others. In addition to this, according to research, there is a rising prevalence of allergic rhinitis of 15% –25 %. Moreover, it is most common among young adults, children, and adolescents. Such factors may strengthen the need for allergy diagnostic market trends, in the following years.
Key Players in the Global Allergy Diagnostic Market
Some of the leading allergy diagnostic market players are
- Thermo Fisher Scientific
- PerkinElmer Inc.
- Hitachi Chemicals
- Omega Diagnostics Group PLC
- Eurofins Scientific
- Stallergenes Greer
- Neogen Corporation.
In 2021, PerkinElmer Inc. entered into an agreement with Immunodiagnostic Systems Holdings PLC to acquire the latter. The acquisition will enable PerkinElmer Inc. to strengthen its position in the ImmunoDiagnostics (IDS) market. IDS would be incorporated under Euroimmun Medizinische Labordiagnostika Ag, a company offering allergy products and solutions.