Allergy Diagnostics Market
Number of pages: 100 | Report Format: PDF | Published date: February 20, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 5.1 billion |
|
Revenue Forecast in 2030 |
US$ 12.62 billion |
|
CAGR |
10.6% |
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Base Year for Estimation |
2021 |
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Forecast Period |
2022-2030 |
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Historical Year |
2020 |
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Segments Covered |
Product & Services, Test, Allergen, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global allergy diagnostics market was valued at US$ 5.1 billion in 2021 and is expected to register a revenue CAGR of 10.6% to reach US$ 12.62 billion by 2030.
Allergy Diagnostics Market Fundamentals
The allergy diagnostics market is expected to continue growing in the coming years, driven by various factors such as increasing prevalence of allergies, advancements in technology, and rising demand for personalized medicine. One of the major factors driving the revenue growth of the market is the increasing incidence of allergic diseases, such as asthma, allergic rhinitis, and food allergies. This is driving the demand for more accurate and reliable allergy diagnostic tests. Furthermore, a growing demand for more personalized and convenient testing options, such as at-home testing and point-of-care testing, is driving the development of new diagnostic tests that can provide fast and accurate results. Advancements in technology are also fueling market growth, with the development of new and innovative diagnostic tools and methods, such as component-resolved diagnostics (CRD), microarray-based diagnostics, and molecular diagnostics. These advancements are improving the accuracy and specificity of allergy testing.
Allergy diagnostics refers to the various tests and procedures that are used to identify and diagnose allergic reactions in individuals. Allergic reactions occur when the immune system overreacts to certain substances, such as food, pollen, or pet dander, and produces an abnormal immune response. Allergy diagnostics include skin tests, blood tests, and elimination diets. Skin tests involve exposing the skin to small amounts of allergens and observing the skin’s reaction. Blood tests, on the other hand, measure the level of specific antibodies in the blood that indicate an allergic reaction. Elimination diets involve removing suspected allergens from an individual’s diet to see if symptoms improve.
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Allergy Diagnostics Market Dynamics
The global prevalence of allergic diseases, such as asthma, allergic rhinitis, and food allergies, is increasing. According to International Food Information Council, globally around 1.1% and 10.8% of the global population has food allergy. This is driving the demand for allergy diagnostics and treatments. Advances in technology are driving innovation in allergy diagnostics, leading to the development of new and more accurate diagnostic tools and methods, such as CRD, microarray-based diagnostics, and molecular diagnostics. These advancements are improving the accuracy and specificity of allergy testing, leading to better diagnosis and treatment outcomes, which is boosting the revenue growth of the allergy diagnostics market. Patients are increasingly seeking personalized healthcare services, and this trend is also evident in the allergy diagnostics market. There is a growing demand for individualized allergy testing, which considers the patient’s specific allergen profile and medical history. This is driving the development of new diagnostic tests that provide more personalized results.
The allergy diagnostics market is highly regulated, and regulatory approvals are required for new diagnostic tests and treatments. Regulatory approvals for new products help to drive market growth, as they indicate that new technologies and treatments are safe and effective, thus propelling the growth of the global allergy diagnostics market.
However, allergy diagnostic tests can be expensive, which can be a barrier to access for some patients, which is restricting the allergy diagnostics market revenue growth. Reimbursement policies can impact the demand for allergy diagnostics, especially in regions with limited public or private insurance coverage, which is also hampering the allergy diagnostics market revenue growth.
Allergy Diagnostics Market Ecosystem
The global allergy diagnostics market has been analyzed from four perspectives: by product & services, test, allergen, and region.
Allergy Diagnostics Market by Product & Services
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Based on the products and services, the global allergy diagnostics market is segmented into assay kits, instruments, and services.
The assay kits segment dominated the allergy diagnostics market with the highest revenue share in 2021. Assay kits are relatively easy to use and require minimal technical expertise, making them accessible to a wide range of healthcare providers. These tests can be performed in a clinical laboratory or even in a doctor’s office, allowing for quick and easy testing. Assay kits are relatively inexpensive, which makes them an affordable option for many patients and healthcare systems, which is propelling segmental revenue growth. Moreover, assay kits are widely available from multiple vendors and manufacturers, resulting in their widespread usage. This ensures that healthcare providers have a variety of options to choose from, allowing them to select the best kit for their needs. Assay kits are known for their accuracy and sensitivity, which makes them an effective tool for the diagnosis of allergies. They can detect small amounts of allergen-specific IgE antibodies in patient samples, providing valuable information for the diagnosis and management of allergic diseases, thus increasing the demand for assay kits.
Allergy Diagnostics Market by Test
Based on test type, the allergy diagnostics market is segmented into in-vitro and in-vivo testing.
The in-vivo testing segment dominated the global allergy diagnostics market with the largest revenue share in 2021. In-vivo testing is known for its accuracy and sensitivity, which makes it an effective tool for the diagnosis of allergies, thus promoting segmental revenue growth. In-vivo testing is versatile and can be used in the testing of a wide range of allergens, making it a valuable tool for the diagnosis of various types of allergies. In-vivo testing has been used for many years and is a well-established method for the diagnosis of allergies. It has a proven track record of accuracy and reliability, which contributes to its widespread usage and market share. In-vivo testing is widely accepted by healthcare providers, who consider it a valuable tool for the diagnosis of allergies. These factors contribute to its popularity and highest revenue share in the allergy diagnostics market.
Allergy Diagnostics Market by Allergen
Based on allergen, the allergy diagnostics market is segmented into food allergens, inhalant allergens, drug allergens, and others.
The inhalant allergens segment accounted for the largest revenue share of the allergy diagnostics market in 2021. Inhalant allergens, such as pollen, dust mites, and animal dander, are a common cause of respiratory allergies, which affect a significant portion of the global population. As a result, there is a high demand for diagnostic tests to identify the specific allergen causing the allergy, which is driving the revenue growth of the inhalant allergens segment. A wide range of diagnostic tests are available for inhalant allergens, including skin prick tests, blood tests, and patch tests. This variety of tests allows physicians to select the most appropriate test for each patient, which further drives the demand for inhalant allergen diagnostics. Technological advancements have led to the development of more accurate and efficient diagnostic tests for inhalant allergens. For instance, the usage of CRD allows for the identification of specific allergenic components, which can help to improve the accuracy of diagnosis and treatment.
Allergy Diagnostics Market by Region
Geographically, the global allergy diagnostics market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominated the global allergy diagnostics market in 2021. The region has a high prevalence of allergies, including allergic rhinitis, asthma, and food allergies. According to the Asthma and Allergy Foundation of America, over 50 million people in the U.S. have allergies, and the prevalence of allergies is increasing. This high prevalence of allergies is driving the demand for allergy diagnostics in the region. The North America allergy diagnostics market is also driven by favorable reimbursement policies for diagnostic tests, which encourage patients to seek diagnosis and treatment. The increase in environmental allergens, such as pollen, mold, and dust mites, is driving the demand for allergy diagnostics in North America.
Allergy Diagnostics Market Competitive Landscape
The prominent companies operating in the global allergy diagnostics market are:
Allergy Diagnostics Market Strategic Developments
Allergy diagnostics refers to the various tests and procedures that are used to identify and diagnose allergic reactions in individuals.
A growing trend towards the development of point-of-care diagnostic tests for allergies, which allow for rapid and convenient testing in a variety of settings, including doctor’s offices and clinics, is propelling revenue growth in the global market.
The global allergy diagnostics market was valued at US$ 5.1 million in 2021.
Danaher Corp, Thermo Fisher Scientific Inc., Minaris Medical America, Siemens Healthcare Diagnostics, Inc., and BioMérieux SA are among the top market players.
The global allergy diagnostics market is expected to register a revenue CAGR of 10.6% during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain