MarketsandMarkets Research Report’s View on Revenue Impact?
The allergy diagnostics market is projected to reach USD 8.2 billion by 2026 from USD 4.8 billion in 2021, at a CAGR of 11.1% from 2021 to 2026.
Factors Responsible for Growth and In-Depth Analysis?
The Allergy testing aids in determining the substances that are causing allergy symptoms in a patient. Tests include a skin test, intradermal test, challenge test, blood test and patch test. Allergists commonly conduct challenge tests; these include food challenge, inhalation challenge, drug challenge, and physical challenge. Allergy tests such as in vitro & in vivo tests are performed to determine the cause, stage, prognosis, and treatment course for allergic diseases. Factors such as the high incidence of allergic diseases and associated heavy economical burden, rising environmental pollution levels, increasing funds by organizations in allergy diagnostics, and the increasing access to healthcare insurance are supporting the growth of this market.
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Leading Key Players and Analysis:
The major players operating in Allergy Diagnostics Market are Thermo Fisher Scientific Inc., (US), Siemens Healthineers (Germany), Danaher (US), Omega Diagnostics Group PLC (UK), bioMérieux SA (France), Romer Labs Division Holding (Austria), EUROIMMUN Medizinische Labordiagnostika AG (Germany), HollisterStier Allergy (US), NEOGEN Corporation (US), Eurofins Scientific (Luxembourg).
Thermo Fisher Scientific Inc. a US-based company, is the leading player in the allergy diagnostics market, accounting for a share of 14.6% in 2020. The company’s strong position in the market can be primarily attributed to its product portfolio. Phadia instruments offered by the company are extensively used by laboratories and other healthcare settings for allergy testing. Besides, the company also has a strong geographic presence, which is the main factor for the company’s strong customer base. The company serves more than 400,000 customers in pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental, industrial quality and process control settings.
Geographical Analysis in Detailed?
The allergy diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America commanded the largest share of the allergy diagnostic market. The large share of North America can be attributed to the rising incidence of allergies, favorable reimbursement scenarios for allergy diagnosis, and the availability of supportive initiatives by associations.
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“In vivo tests are expected to hold the largest share of the allergy diagnostics market.
Based on test type, segmented into in vivo tests and in vitro tests. In 2020, the in vivo tests segment accounted for the largest share of the allergy diagnostic market. The growth of this segment is mainly driven by the increasing adoption of various in vivo tests, such as skin prick tests. These tests are dependable, safe, convenient, and cost-effective, as compared to in vitro tests.
“Inhaled allergens are expected to hold the largest share of the allergy diagnostics market.
Based on allergens, segmented into inhaled allergens, food allergens, drug allergens, and other allergens. In 2020, the inhaled allergens segment accounted for the largest share of the allergy diagnostic market due to the increasing environmental pollution and rising pollen coupled with other factors such as fungus, mold, and dust.
“Diagnostic laboratories are expected to hold the largest share of the allergy diagnostics market”
Based on end user, segmented into diagnostic laboratories, hospital-based laboratories, academic research institutes, and other end users. In 2020, the diagnostic laboratories segment accounted for the largest share of the market. The large share of the segment can be primarily attributed to the preference for proper diagnosis from a specialist, rising awareness regarding the management of allergic diseases, and the availability of funds for the operation of independent diagnostic laboratories.
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