Allergy Diagnostic and Treatment Market – Global Industry Insights 2024

Artificial Pancreas Market Industry
Allergy Diagnostic and Treatment Market – Global
Industry Insights, Trends and Opportunity Analysis,
2016-2024
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Report Description
Increasing availability of effective treatment options is a major factor fueling growth of the allergy
diagnostic and treatment market size. Overall, the billion dollar allergy diagnostic and treatment market
revenue is expected to grow at a significant rate over the forecast period (2016–2024). With government
taking key measures to improve healthcare facilities, many private players have emerged in the healthcare
market to optimize and revolutionize the healthcare industry. These macro healthcare factors are expected
to drive growth of various markets in the healthcare sector, most notably allergy diagnostic market.
Allergy is a form of hypersensitivity medical disorder of the immune system when the system reacts to a
foreign substance (allergen). Symptoms of allergy include runny nose, red eyes, itchiness, hives, eczema
or more severely an asthma attack. In similar context, allergy diagnostic services are used to identify the
type of allergy and accordingly determine treatment regimen of allergic conditions. Moreover, with the
amalgamation of advanced technologies in the field of point of care diagnostics, it is expected that the
allergy diagnostic and treatment market would experience a significant growth in the near future.
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Increasing preventative measure awareness is expected to drive sales of allergy diagnostic and
treatment market size.
High incidence of allergic diseases such as allergic rhinitis, asthma, sinusitis, food allergy and other
respiratory allergies are expected to boost growth of the allergy diagnostic and treatment market in the
near future. For instance, according to the WHO, globally over 300 million patients suffered from asthma
in 2013 and are expected to increase to over 400 million by 2025. Moreover, according to statistics
provided by the American Academy of Allergy, Asthma & Immunology, globally around 15% of the
population are affected by allergic rhinitis. Increasing prevalence of allergies among the global populace
is expected to drive growth of the global allergy diagnostic and treatment market outlook. Furthermore,
increasing government support for development of novel therapies and vaccines along with high research
and development initiatives for development of advanced diagnostic techniques are expected to fuel
growth of this market in the near future. Technological advancements in the field of in-vitro diagnostics
and increasing focus on retaining superior quality of life are some of the factors that are projected to
contribute towards growth of this market over the forecast period. However, high cost of these tests and
unavailability of the tests kits are some of the factors that are projected to negatively influence growth of
this market.
Allergy Diagnostic and Treatment Market Taxonomy
Coherent market insights has segmented the market on the basis of
•
Allergy Type
•
Tests Performed
•
Medication
•
End Use
On basis of type of allergy, the allergy diagnostic and treatment market scenario can be segmented as
follows:
•
Drug Allergy
•
Allergic Rhinitis
•
Food Allergy
•
Skin Allergy
•
Insect Allergy
•
Sinusitis
•
General Allergy
Sinusitis and food allergies are especially prevalent in developed regions.
Drug allergy segment is expected to grow at double digit rate between 2016 and 2024.
Some of the major diagnostic tests performed for detection of the types of allergy are as follows:
•
Specific IgE testing
•
Patch testing
•
Blood testing
•
Others
On the basis of medications, the allergy diagnostic and treatment market is segmented into
•
Antihistamines
•
Decongestants
•
Corticosteroids
•
Leukotrienes inhibitors
•
Mast cell inhibitors
•
Others
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North America and Europe are expected to dominate the global allergy diagnostic and treatment
market size
North America, followed by Europe accounted for the largest share of allergy diagnostic and treatment
market revenue, mainly fueled by high incidence of allergic diseases in the U.S. According to a research
conducted by the Centers for Disease Control and Prevention in 2013, in the U.S., between the periods
of 1997 to 2011, food allergies among children increased around 50%. Moreover, according to the
European Academy of Allergy and Clinical Immunology (EAACI), over 17 million people in Europe were
affected by food allergy in 2015.
A highly fragmented and immensely competitive market
The market is expected to witness an exponential growth rate due to increasing prevalence of various
types of allergies in developed nations such as the U.S, the U.K., France, Canada, and Spain. Some of
the major companies in the allergy diagnostic and treatment market are bioMérieux, Danaher Corporation,
GlaxoSmithKline plc, Hitachi Chemical Diagnostics, Inc., Merck & Co., Inc., Omega Diagnostics Group
PLC, Siemens Healthcare, and Thermo Fisher Scientific, Inc.
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on lucrative growth opportunities in the market and to follow firmly position themselves on a high growth
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Increasing availability of effective treatment options is a major factor fueling growth of the allergy diagnostic and treatment market size. Overall, the billion dollar allergy diagnostic and treatment market revenue is expected to grow at a significant rate over the forecast period (2016–2024). With government taking key measures to improve healthcare facilities, many private players have emerged in the healthcare market to optimize and revolutionize the healthcare industry. These macro healthcare factors are expected to drive growth of various markets in the healthcare sector, most notably allergy diagnostic market.