Industry Outlook and Trend Analysis
The Allergy Diagnostics Market was worth USD 2.61 billion in the year of 2014 and is expected to reach approximately USD 6.49 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 10.64% during the forecast period. Allergy is fundamentally referred to a hypersensitivity medical issue associated with the immune system, where the system responds with foreign particles, otherwise called allergen. Different side effects of sensitivity incorporate red eyes, hives, eczema, itchiness, runny nose, and even, in serious cases, asthma attack. Sensitivity analytic administrations help in recognizing sorts of hypersensitivities, and subsequently deciding treatment regimen as for particular allergic conditions. Increasing aged population, surge in healthcare expenditure in developing as well as developed economies, and rise in environmental pollution level are foreseen to drive the market development. The quickly changing ways of life of individuals are coming about into health issue, for example, sensitivities, accordingly driving interest for analytic blood tests, for example in-vitro and in-vivo tests. However, strict directions and approaches forced by the administrations, and tremendous capital speculation required for establishment of analytic hardware associated with allergic disorders are foreseen to obstruct development of the market.
Product Outlook and Trend Analysis
On the basis of product type the market is segmented into Instruments, Assay Kits, Consumables and services. Assay kits are foreseen to remain favored among products in the market, trailed by instruments. Nonetheless, sales of consumables are anticipated to reflect a relatively higher CAGR in the upcoming years.
End User outlook and Trend Analysis
On the basis of end user the market is segmented into Hospital, Academic Research Institutes and Diagnostic Laboratories. Hospitals are foreseen to be the fastest developing end user section. In 2017, a major share of the overall market was held by hospitals. Additionally, hospitals are foreseen to encounter a rise in their market share between in the upcoming years.
Allergen Type Outlook and Trend Analysis
On the basis of allergen type the market is segmented into Drug Allergens, Inhaled Allergens and Food Allergens. Diagnosis of hypersensitivities caused by inhaled allergens is foreseen to represent the biggest piece of the overall industry, regarding revenue, over the conjecture time frame. Expanded contamination levels are a main consideration expanding pervasiveness of hypersensitivities caused by inhaled allergens.
Test Type Outlook and Trend Analysis
On the basis of test type the market is segmented into In-vitro and In-vivo. In-vitro test will remain the most beneficial test that is useful for allergy diagnostics across the globe. Revenues from in-vitro test for allergy diagnostics are foreseen to increase at a significant CAGR in the upcoming years.
Regional Outlook and Trend Analysis
On the basis of revenue, North America will remain the biggest market for allergy diagnostics with a significant growth rate in the upcoming years. Development of the market in this locale can be ascribed to variables, for example, better government support, higher healthcare expenditure in the region, and improved medical insurance policies.
The leading players in the market are Siemens Healthcare, Lincoln Diagnostics Inc, HOB Biotech Group Co, Hitachi Chemical Company Ltd, Thermo Fisher Scientific India Pvt Ltd, Danaher Corporation, R-Biopharm, Hycor Biomedical Inc and Stallergenes Greer. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Allergy Diagnostics Market is segmented as follows-
By Product type:
By End User:
Academic Research Institutes
By Allergen Type:
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?