global Allergy Diagnostics And Therapeutics market size is expected to be worth around US$ xx billion by 2028, according to a new report by Vision Research Reports.
The global Allergy Diagnostics And Therapeutics market size was valued at US$ 32.10 billion in 2020 and is anticipated to grow at a CAGR of 6.7% during forecast period 2021 to 2028.
Increasing incidences of allergic diseases coupled with high demand for in vitro diagnostic blood tests are projected to drive the industry growth in the coming years.
According to the estimates published by the World Health Organization (WHO), around 40 million cases of inhaled allergies were reported in 2012 in the U.S. and the number is increasing contributing toward the growth of this market. Also, factors, such as changing lifestyles, increasing levels of indoor and outdoor pollution, poor dietary habits, and rapid urbanization across the globe are estimated to result in increased incidences of allergic conditions.
In vivo test was the largest test segment in 2020 and accounted for half of the overall share owing to associated benefits, such as ease of use, time efficiency, wider availability, and sensitivity for clinically valid allergies. Skin prick tests accounted for the largest revenue share in 2018 owing to greater adoption by healthcare professionals and patients. The segment is projected to expand further at the highest CAGR of 11.0% from 2019 to 2025.
This is mainly due to the rising applicability of skin prick tests in food allergy detection, specific IgE mediated allergy testing. In vitro test segment is also expected to witness significant growth in the coming years owing to increasing demand for less invasive diagnostic methods, and highly sensitive and accurate results. Companies in the market are also focusing on providing allergy-specific solutions, accurate result-oriented devices to gain the maximum market share.
The product segment includes instruments, consumables, and services. Consumables led the overall market in 2020 as they are an indispensable component in allergy detection. Technological advancements, such as allergen microarray kits, which are more sensitive and offer individualized patient profiling and monitoring, are projected to drive the segment further. Besides, the advent of products, such as MeDALL allergen-chip associated with enhanced sensitivity specificity, and faster diagnosis is projected to support the market expansion.
Based on allergen type, the market is categorized into food, inhaled, drug, and others. Inhaled allergen led the global allergy diagnostics and therapeutics market in 2018 due to increased incidences of respiratory allergies and asthma across the globe. The segment is projected to expand further at the fastest CAGR owing to the high demand for allergy testing and the introduction of specific allergen for the detection of allergy.
The drug allergies segment is also expected to register a strong CAGR of 11.6% from 2019 to2025. were the second-largest segment, in terms of revenue share, and is projected to continue the trend throughout the forecast years. Children are more susceptible to these types of allergic diseases. According to the estimates published by the U.S. National Institute of Health (NIH), the prevalence of food allergies among children is double that of adults.
The introduction of therapeutically advanced drugs, such as monoclonal antibodies possessing higher efficacy than conventional drugs, is expected to boost the market over the forecast period. Immunotherapy is expected to be the fastest-growing segment with a CAGR of 7.1% from 2019 to 2025 owing to increasing demand for sublingual vaccines, extensive drug pipeline, ongoing clinical trials of monoclonal antibodies for the treatment of allergic disorders, and growing awareness among patients.
Based on end-use, the market has been divide into academic research institutes, hospitals, and diagnostic laboratories. Diagnostic laboratories held the largest market share of 49.8% in 2020 due to extensive utilization of immunoassay tests in allergy diagnosis.
The advancements in screening techniques enabling accurate disease diagnosis and stratification for appropriate treatment is expected to drive the segment further. Hospitals are expected to be the fastest-growing segment due to supportive government funding and rising healthcare expenditure.
North America led the global market, in terms of revenue, in 2020 on account of a high incidence of respiratory allergic disorders along with rising awareness levels about allergy diagnostics and the adoption of in vitro blood tests. Europe is expected to be the second-largest regional market due to the presence of developed pharmaceutical industry and increasing demand for therapeutics.
bioMerieux, Thermo Fisher Scientific, Danaher Corporation, Omega Diagnostics, Hitachi Chemical Diagnostics, Stallergenes Greer, Siemens Healthcare, Lincoln Diagnostics, Hycor Biomedical, HOB Biotech Group, and Alcon Laboratories.
Allergen Type Outlook
Academic Research Institutes
In vivo Test
Skin Prick Test
In vitro Test
Drug Class Outlook
Mast Cell Stabilizers
The Allergy Diagnostics And Therapeutics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Allergy Diagnostics And Therapeutics market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Allergy Diagnostics And Therapeutics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Allergy Diagnostics And Therapeutics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Allergy Diagnostics And Therapeutics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Allergy Diagnostics And Therapeutics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Allergy Diagnostics And Therapeutics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Allergy Diagnostics And Therapeutics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Allergy Diagnostics And Therapeutics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Allergy Diagnostics And Therapeutics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Allergy Diagnostics And Therapeutics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Allergy Diagnostics And Therapeutics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Allergy Diagnostics And Therapeutics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Allergy Diagnostics And Therapeutics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Allergy Diagnostics And Therapeutics market. These factors have benefited the growth of the global market for Allergy Diagnostics And Therapeutics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Allergy Diagnostics And Therapeutics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Allergy Diagnostics And Therapeutics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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