Global Allergy Diagnostics And Therapeutics Market Size To Grow At A CAGR Of 6.5% In The Forecast Period Of 2023-2028
The ‘Global Allergy Diagnostics and Therapeutics Market Share, Size, Trends, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global allergy diagnostics and therapeutics market, assessing the market on the basis of its segments like product, allergen type, end use, diagnostic tests, drug class, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Allergy Diagnostics and Therapeutics Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6.5%
|Market Size in 2020||USD 34.1 billion|
|Growth Rate CAGR||CAGR of 6.5%.|
|Major Players||GlaxoSmithKline plc, Stallergenes Greer Ltd, Hitachi Chemical Co., Ltd, Omega Diagnostics Group
PLC, bioMérieux SA, Thermo Fisher Scientific Inc., Siemens Healthcare GmbH, and Others.
The global allergy diagnostics and therapeutics market is expected to register growth during the forecast period on account of the growing air pollution levels in the environment.
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The increasing prevalence of chronic diseases due to the growing exposure to outdoor and indoor air pollutants along with exposure to allergens are expected to fuel the market growth of allergy diagnostics and therapeutics globally.
Moreover, the growing air pollution, as well as the lack of awareness about food and drug allergy in developing countries, are positively influencing the market players for creating allergy diagnostics kits that are cost-effective which is expected to boost the market growth.
Rapid urbanisation is likely to increase the prevalence of allergy disorders which is further expected to fuel the allergy diagnostics and therapeutics market growth. This is due to the increased exposure to environmental pollutants in cities as compared to rural areas.
The increase in the incidence of allergy conditions along with the rising funds for allergy diagnosis by various organisations is likely to drive the allergy diagnostics and therapeutics market growth over the upcoming years.
There is rising consumer spending on healthcare and a growing prevalence of drug and food allergies. Along with the surging presence of developed infrastructure, these aspects are expected to fuel the market growth of allergy diagnostics and therapeutics over the coming years.
Allergy Diagnostics and Therapeutics Industry Definition and Major Segments
Allergy diagnostics and therapeutics refer to the process of identifying allergens for a particular patient and recommending treatments.
Allergens can be tested through a limited and controlled exposure to the potential allergen, including skin prick and patch tests. Results from the allergy test can help an individual to take steps to control allergies by limiting exposure. Allergy therapeutics are aimed at treating exposures to allergens, through medication or devices such as inhalers.
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Based on product type, the market is segmented into:
By allergen type, the market is classified into:
Based on the end use, the market is segmented into:
- Diagnostics labs
- Academic Research Institutes
On the basis of diagnostic tests, the market is segmented into:
- Skin Prick Test
- Patch Test
By drug class, the market is classified into:
- Mast Cell Stabilisers
- Leukotriene Inhibitors
- Nasal Anticholinergics
- Autoinjectable Epinephrine
Based on region, the market is divided into:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Allergy Diagnostics and Therapeutics Market Trends
Geographically, the North American region is anticipated to drive allergy diagnostics and therapeutics market growth on account of the increasing cases of milk, seafood, and peanut allergies, especially in the United States. There are well-established healthcare facilities in North America.
Growing initiatives by various governments and non-government organisations to increase awareness regarding food and drug allergies and to reduce food and drug allergy-related causalities are expected to support the market demand for allergy diagnostics and therapeutics in the region.
Meanwhile, the Asia Pacific is anticipated to gain momentum over the coming years in the allergy diagnostics and therapeutics market growth on account of the rapid modernisation and advancement of healthcare centres in the region.
The rising per capita income among consumers along with enhanced spending on the healthcare industry and growing healthcare infrastructure is expected to promote the market growth of allergy diagnostics and therapeutics.
Key Market Players
The major players in the global allergy diagnostics and therapeutics market report are :
- GlaxoSmithKline plc
- Stallergenes Greer Ltd
- Hitachi Chemical Co., Ltd
- Omega Diagnostics Group PLC
- bioMérieux SA
- Thermo Fisher Scientific Inc.
- Siemens Healthcare GmbH
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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