Market Overview A recent report by Reports and Data predicts that the global Allergy Diagnostics and Therapeutics market will attain a value of USD 54.71 Billion by 2028. The surge in allergy prevalence worldwide primarily contributes to this projection. Factors such as technological advancements in healthcare, coupled with changes in lifestyle and dietary habits, are anticipated to propel market growth. Allergic diseases can manifest at any age, with certain allergies more likely to emerge in specific age groups, particularly in the elderly population.
Furthermore, the market is expected to benefit from the increasing elderly population and the rising incidence of respiratory diseases linked to elevated pollution and CO2 emissions. However, challenges such as expensive equipment and insufficient awareness about allergic ailments may hinder market growth.
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Key Report Highlights The report provides comprehensive statistics on Allergy Diagnostics and Therapeutics worldwide from 2016 to 2028, using 2016 and 2017 as historical data and considering 2020 as the base year. Forecasts for the period 2019-2028 are also included. Market size estimation, historical and forecasted trend analysis, and analysis of various products for end-users are covered. The report assesses the share of allergen types, including food, inhaled, and drugs. Regulatory frameworks in healthcare and pharmaceuticals for each region are outlined. Upcoming trends in Allergy Diagnostics and Therapeutics use at the regional level are discussed. Ongoing trials, developments, prevalence of end-users, and technology status are mapped regionally. Demand and supply gap analysis, pricing strategies of regional competitors, and market share analysis of top industry players are provided. Strategic recommendations for new entrants and insights into market trends, including drivers, constraints, opportunities, threats, challenges, and investment opportunities, are included.
Key Trends in the Allergy Diagnostics And Therapeutics Market The market is projected to grow at a CAGR of 4.7%, reaching USD 54.71 Billion by 2028. Advancements in healthcare and pharmaceuticals for detecting allergic diseases drive segment growth. The consumables segment holds the largest market share of ~50% in 2020 and is expected to witness the highest growth rate of 5.5% during the forecast period. Inhaled allergen types dominate with a market share of ~50% in 2020 and are forecasted to grow at a rate of 5.8% during the forecast period. In vivo tests constitute approximately 60% of the market share in 2020, widely used for simulating realistic and clinically relevant test environments. Antihistamines, particularly for treating rhinitis, exhibit market dominance and are cost-effective. Diagnostic laboratories command the largest market share of ~52% in 2020 due to the growing prevalence of allergic diseases. The European market growth is attributed to a developed pharmaceutical industry and increasing demand for diagnosis methods and therapeutics. The Asia Pacific region is expected to witness the highest growth rate of 5.8% during the forecast period, driven by advancements in technology and a growing population.
Companies Profiled Key companies in the market study include Omega Diagnostics, Thermo Fisher Scientific, Stallergenes Greer, Siemens Healthcare, bioMerieux, Lincoln Diagnostics, Alcon Laboratories, HOB Biotech Group, Hycor Biomedical, and Hitachi Chemical Diagnostics, among others. These companies have implemented various strategies such as mergers, acquisitions, contracts, agreements, and partnerships to sustain ongoing trials and introduce new developments in the market.
Market Dynamics (Market-O-Nomics) The Allergy Diagnostics and Therapeutics market valuation was USD 38.03 Billion in 2020, expected to reach USD 54.71 Billion by 2028. Product segmentation includes instruments, consumables, and services, with consumables holding the largest market share of ~50% in 2020 and a forecasted growth rate of 5.5%. Allergen type segmentation covers food, inhaled, and drug types, with inhaled allergens leading with a market share of ~50% in 2020 and a forecasted growth rate of 5.8%. Test type segmentation includes in vivo and in vitro tests, with in vitro tests forecasted to witness a higher growth rate of 5.3%. Drug class segmentation consists of antihistamines, corticosteroids, mast cell stabilizers, leukotriene inhibitors, nasal anticholinergics, decongestants, immunomodulators, autoinjectable epinephrine, and immunotherapy. Immunotherapy is expected to witness the highest growth rate of 7.7% during the forecast period. End-user segmentation covers academic research institutes, hospitals, and diagnostic laboratories, with the hospital segment anticipated to witness the highest growth rate of 6.8%. Regional segmentation includes North America, Europe, Asia Pacific, Latin America, and MEA, with North America holding the largest market share of ~42% in 2020 and maintaining dominance throughout the forecast period.
Segment-wise Revenue Outlook (2020-2028) Products:
- Instruments
- Consumables
- Services
Allergen Type:
- Food
- Inhaled
- Drug
Test Type:
- In Vivo
- In Vitro
Drug Class:
- Antihistamines
- Corticosteroids
- Mast Cell Stabilizers
- Leukotriene Inhibitors
- Nasal Anticholinergics
- Decongestants
- Immunomodulators
- Autoinjectable Epinephrine
- Immunotherapy
End Users:
- Academic Research Institutes
- Hospitals
- Diagnostic Laboratories
Regional Outlook (2020-2028)
- North America (U.S.)
- Europe (France, UK)
- Asia Pacific (China, India, Japan)
- Latin America (Brazil)
- MEA
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