Allergy Diagnostics Market - Regional Analysis And Revenue Growth

By Author: robert henric
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The allergy diagnosis is an important introductory step for effective allergy treatment. Current allergy tests are more convenient and accurate compared to the tests that were available before. With the help of a detailed medical history, allergy tests can identify specific triggers for an individual’s allergic reactions. This process is also required in drug development and the production process of allergy treatments.

The Allergy Diagnostics Market is projected to reach USD 5.74 Billion, at a CAGR of 10.5%.

Growth Opportunity: Growing adoption of automation for quicker turnaround times;

Turnaround time (TAT) is an important factor in laboratory services and is often used as a key indicator of laboratory performance. Fully automated immunoassay systems are popular as they improve the TAT of laboratories and reduce labor costs. Semi-automated instruments are also preferred as they are less expensive; however, these systems increase the TAT. To meet the requirement of increased on-board testing capacity, advanced allergy diagnostic tests have been introduced in the market. Also, the market is witnessing ...
... greater adoption of automation for quicker TAT.

Automation in laboratories helps increase the efficiency of laboratory workflows, thus maintaining high throughputs. The main objective of automation in laboratories is to minimize nonvalue-adding steps, such as tube sorting, centrifugation, loading of analyzers, and preparing and sorting of materials required for testing. Some large laboratory chains are now shifting toward complete or total laboratory automation (TLA). However, these laboratories require major financial commitment.

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The key players in the Allergy Diagnostics Market are 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), R-Biopharm AG (Germany), GA Generic Assays GmbH (Germany), and Tecan Trading AG (Switzerland).

Thermo Fisher Scientific Inc. (US) accounted for the largest market share of the allergy diagnostics market in 2016. The company caters to the market through its Clinical & Diagnostics product segment. The end users that the company caters to are pharmaceutical and biotechnology companies, hospitals and clinical diagnostic laboratories, universities, research institutions, government agencies, and environmental & process control industries. Thermo Fisher offers a broad range of products covering all segments of the market. The company launched innovative products for allergy diagnosis over the last three years in all categories, namely, assay kits and instruments. Thermo Fisher used product innovation as the main strategy to maintain its competitive position in the market. For example, the company launched Thermo Scientific B·R·A·H·M·S Procalcitonin (PCT) assay for allergy diagnosis in 2016.

Siemens AG (Germany) held the second largest share of the global allergy diagnostics market. The company has a strong presence in the US, Europe, and Asia Pacific. Siemens AG focuses on new product launches as its key strategy. In July 2014, Siemens Healthineers launched its latest ADVIA Centaur XPT Immunoassay System1, ADVIA Chemistry XPT System, and Precia Stride Coagulation Analyzer products at the IFCC World Lab in Istanbul.

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Geographical Growth Scenario of Market:

The allergy diagnostics market is segmented into four major regions, namely, North America, Europe, Asia, and the Rest of the World. In 2017, 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.