Allergy Diagnostics Market | Growing at a CAGR of 10.5% | Rising Environmental Pollution Levels

PUNE, India, 2020-Sep-02 — /EPR Network/ —

The allergy diagnosis is an important introductory step for effective allergy treatment. Current allergy tests are more convenient and accurate compared to the tests that were available before. With the help of a detailed medical history, allergy tests can identify specific triggers for an individual’s allergic reactions. This process is also required in drug development and the production process of allergy treatments.

According MarketsandMarkets Research – The Allergy Diagnostics Market is projected to reach USD 5.74 Billion, at a CAGR of 10.5%.

Major Market Growth Drivers:

• High Incidence and Large Economic Burden of Allergic Diseases
• Rising Environmental Pollution Levels
• Increasing Healthcare Expenditure
• Increasing Access for Allergy Diagnosis Medical Insurance in the Us

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Market Growth Opportunity: Growing adoption of automation for quicker turnaround times

Turnaround time (TAT) is an important factor in laboratory services and is often used as a key indicator of laboratory performance. Fully automated immunoassay systems are popular as they improve the TAT of laboratories and reduce labor costs. Semi-automated instruments are also preferred as they are less expensive; however, these systems increase the TAT. To meet the requirement of increased on-board testing capacity, advanced allergy diagnostic tests have been introduced in the market. Also, the market is witnessing greater adoption of automation for quicker TAT.

Automation in laboratories helps increase the efficiency of laboratory workflows, thus maintaining high throughputs. The main objective of automation in laboratories is to minimize nonvalue-adding steps, such as tube sorting, centrifugation, loading of analyzers, and preparing and sorting of materials required for testing. Some large laboratory chains are now shifting toward complete or total laboratory automation (TLA). However, these laboratories require major financial commitment.

Diagnostic laboratories to dominate the allergy diagnostics market during the forecast period

The allergy diagnosis market is segmented based on end users into diagnostic laboratories, hospital-based laboratories, academic & research institutes, and other end users. The diagnostic laboratories segment is expected to command the largest share and is estimated to grow at the fastest rate as compared to other segments. The market is mainly driven by the increasing incidence of allergic disorders in emerging countries.

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Asia is estimated to be the fastest growing regional segment in the market during the forecast period

Geographically, the allergy diagnostics market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). The Asian region is estimated to grow at the fastest rate which can be attributed to the improving life sciences research infrastructure in emerging economies and rising investments by governments to promote research activities.

The key players operating in the allergy diagnostics market include Thermo Fisher Scientific Inc. (US), Siemens AG (Germany), Danaher Corporation (US), Omega Diagnostics Group PLC (UK), Hitachi Chemical Co., Ltd. (Japan), bioMérieux SA (France), Stallergenes Greer (UK), HOB Biotech Group Suzhou Co., Ltd. (China), HYCOR Biomedical (US), Lincoln Diagnostics, Inc. (US), EUROIMMUN AG (Germany), INDOOR Biotechnologies, Inc. (US), DR. FOOKE – Achterrath Laboratorien GmbH (Germany), R-Biopharm AG (Germany), GA Generic Assays GmbH (Germany)