Global Allergy Diagnostics Market, By Product & Service (Assay Kits, Instruments (immunoassay analyzers, luminometers, ELISA analyzers, and other instruments), Services), By Test Type (In Vivo tests, In Vitro tests), By Allergens (iInhaled allergens, Food allergens, Drug allergens, and other allergens), By end-user (Diagnostics laboratories, Hospital-based laboratories, Academic and research institutes, and other end users), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global allergy diagnostics market was valued at US$ 4.7 Bn by the end of 2020 and expected to reach at a value of US$ 10.0 Bn by 2028 with a significant CAGR of 9.8%.
According to the American Academy of Allergy Asthma & Immunology, nearly 10.6% or 7.8 million children accounted for respiratory allergies in the year 2012 across the world. This shows that there is growing prevalence of allergic illnesses among the masses which fundamentally boosts the market growth of allergy diagnostics.
An allergy can be perceived as a hypersensitivity disorder of immune system, which occurs when an individual’s immune system responds to a foreign but non-toxic substance called allergens in the environment. Some of the major allergens that negatively affect the human immune system are pet dander, dust, and pollen.
In addition to that, together with the numerous advancements in the entire medical sector, the diagnosis methods for allergic diseases are also made more effective and convenient. Diagnosis of allergic diseases can be done in three simple ways - checking back the personal or medical history of an individual, through physical exams or through various tests like blood test or skin test. Owing to which, the global allergy diagnostics market is expected to rise exponentially over the years to come.
Furthermore, the rising pollution, specifically air pollution, is also contributing to the growing incidence of dust allergy among the masses, which in turn is accelerating the growth of the global allergy diagnostics market.
However, the lack of awareness regarding allergic diseases in some specific regions across the world may hold back the growth of the global allergy diagnostics market over the coming years.
MMC Study identifies some of the key participating players in the allergy diagnostics market globally are Thermo Fisher Scientific Inc., Siemens AG, Danaher Corporation, Omega Diagnostics Group PLC and Hitachi Chemical Co., Ltd., among others.
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