Allergy Diagnostics Market Growing at a CAGR of 10.5% – Growth Drivers, Future Opportunities and Key Players

PUNE, India, 2021-Mar-25 — /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 Research Report “Allergy Diagnostics Market by Products (Assay Kits, Immunoassay & Elisa Analyzers, Luminometers, Services), Allergens (Food, Inhaled, Drug), Tests (In Vivo, In Vitro), End Users (Hospital, Diagnostic Laboratory) – Global Forecast”, is projected to reach USD 5.74 Billion, at a CAGR of 10.5%

The major factors driving the growth of Allergy Diagnostics Market are the high incidence and large economic burden of allergic diseases, rising environmental pollution, increasing healthcare expenditure, and growing access to medical insurance in the US. On the other hand, lack of awareness of allergic diseases in some countries is restraining the growth of this market.

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Growth Driver: High incidence and large economic burden of allergic diseases;

Allergy diagnostics is an important step in the treatment of patients suffering from allergic diseases. Major allergic diseases include asthma, rhinitis, angioedema, urticaria, conjunctivitis, and eczema, while conditions such as food allergies and drug and insect allergies also affect large population across the globe. According to an editorial piece published in the World Allergy Journal in May 2014, globally, ~300 million people suffer from asthma, and ~200 to 250 million people suffer from food allergies as of 2013.

According to the WHO, the total number of asthma patients globally is estimated to increase to 400 million by 2025. The economic burden of allergies includes both direct and indirect costs—direct costs include expenditure on medications and healthcare provisions while indirect costs include the costs associated with loss of work, social support, loss of taxation income, and lower productivity at work.

Future 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.

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Global Key Leaders: 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)