Allergy Diagnostics Market Growing At A Cagr Of 10.5% | High Incidence And Large Economic Burden Of

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The major factors driving the growth of the Allergy Diagnostics Market are the high incidence and large economic burden of allergic diseases, rising environmental pollution, increasing healthcare expenditure, and growing access to medical insurance in the US. On the other hand, lack of awareness of allergic diseases in some countries is restraining the growth of this market.

Major Market Growth Driver:

High incidence and large economic burden of allergic diseases;

Allergy diagnostics is an important step in the treatment of patients suffering from allergic diseases. Major allergic diseases include asthma, rhinitis, angioedema, urticaria, conjunctivitis, and eczema, while conditions such as food allergies and drug and insect allergies also affect large population across the globe. According to an editorial piece published in the World Allergy Journal in May 2014, globally, ~300 million people suffer from asthma, and ~200 to 250 million people suffer from food allergies as of 2013.

According to the WHO, the total number of asthma patients globally is estimated to increase to 400 million by 2025. The ...
... economic burden of allergies includes both direct and indirect costs—direct costs include expenditure on medications and healthcare provisions while indirect costs include the costs associated with loss of work, social support, loss of taxation income, and lower productivity at work. Considering these factors, authorities in several countries are focusing on reducing the burden of allergic diseases in their respective healthcare systems. This, in turn, is expected to drive the demand for allergy diagnostics instruments and consumables in the coming years.

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Market Segmentation in Detailed:

The allergy diagnostics market is classified based on product & service into assay kits, instruments, and services. The assay kits segment is expected to grow at the highest rate during the forecast period. The widespread availability and large consumption of assay kits in allergy testing are expected to drive the growth of this segment in the coming years.

The allergy diagnosis market is segmented based on end users into diagnostic laboratories, hospital-based laboratories, academic & research institutes, and other end users. The diagnostic laboratories segment is expected to command the largest share and is estimated to grow at the fastest rate as compared to other segments. The market is mainly driven by the increasing incidence of allergic disorders in emerging countries.

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Geographical Regions Mapped in Report:

The allergy diagnostics market is segmented into four major regions, namely, North America, Europe, Asia, and the Rest of the World. North America accounted for the largest share of this market owing to the high healthcare expenditure and the strong presence of key market players in the region. These factors, coupled with the rising prevalence of different types of allergies, have resulted in the wide availability and adoption of various allergy diagnostic products and services in the US and Canada.

Maior Key Players Mapped in Research Report:

The key players operating in the allergy diagnostics market include Thermo Fisher Scientific Inc. (US), Siemens AG (Germany), Danaher Corporation (US), Omega Diagnostics Group PLC (UK), Hitachi Chemical Co., Ltd. (Japan), bioMérieux SA (France), Stallergenes Greer (UK), HOB Biotech Group Suzhou Co., Ltd. (China), HYCOR Biomedical (US), Lincoln Diagnostics, Inc. (US), EUROIMMUN AG (Germany), INDOOR Biotechnologies, Inc. (US), DR. FOOKE – Achterrath Laboratorien GmbH (Germany)