Allergy Diagnostics Market Analysis, Challenges, and Growth Opportunities
14 June 2019, Global allergy diagnostics market is expected to grow at a significant CAGR of 10% in the upcoming period as the scope and its applications are rising enormously across the globe. Allergy diagnostics help to determine if the body has an allergic reaction to a known substance. It is mainly done using blood or skin tests as patients show an exclusive range of varying sensation patterns and symptoms against particular allergens.
The factors that are playing a major role in the growth of the market are the rise in healthcare expenditure, growing occurrence of allergic diseases, the rising access for allergy diagnosis medical insurance in the United States, and increasing environmental pollution level. However, lack of awareness regarding allergic diseases and the high cost of instruments are the factors that may restrain overall market growth in the years to come. Allergy diagnostics market is segmented based on product type, test, allergen, end-user, and region.
Instruments, assay kits, services, and other product types could be explored in allergy diagnostics in the forecast period. The assay kits sector accounted for the substantial market share of allergy diagnostics and is estimated to continue its dominance in the years to come. The reason could be great level of precision, effective performance, and reliability. In vitro tests and in vivo tests are the test types that could be explored in allergy diagnostics in the forecast period.
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Based on the allergen, drug, inhaled, and food allergens could classify allergy diagnostics in the forecast period. Inhaled allergen sector accounted for the substantial market share of allergy diagnostics and is estimated to lead the overall market in the years to come. The reason could be a growing environmental pollution. The market may be categorized based on end-users like academic research institutes, diagnostic laboratories, hospital-based laboratories, and others could be explored in allergy diagnostics in the forecast period.
Globally, North America accounted for the substantial market share of allergy diagnostics and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the rising healthcare expenditure, developed healthcare infrastructure, availability of allergy diagnosis medical insurance, and the presence of key manufacturers in this region. The United States and Canada are the major consumers of allergy diagnostics in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period.
The key players of the allergy diagnostics market are R-Biopharm AG, Thermo Fisher Scientific Inc., Lincoln Diagnostics, Inc., Siemens AG, Hycor Biomedical, Inc., Danaher Corporation, Hob Biotech Group Suzhou Co., Ltd., Omega Diagnostics Group PLC, Stallergenes Greer, Hitachi Chemical Co., Ltd., and Biomérieux SA. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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