Technological advancements in the healthcare industry coupled with the changing lifestyle and food habits of the major population are influencing the market growth.
The global Allergy Diagnostics and Therapeutics market is forecast to reach USD 54.71 Billion by 2028, according to a new report by Reports and Data. This is mainly contributed by the increase in the prevalence of allergies among the population. The technological advancements in the healthcare industry coupled with the changing lifestyle and food habits of the major population will drive the growth of the market. These allergic diseases can occur at almost any age, though some allergies are most likely to develop for the first time in particular age groups, especially in the geriatric population.
Moreover, the increase in the aged population as well as the growing prevalence of respiratory diseases, due to increasing pollution and CO2 emissions, are some of the other factors that will fuel the growth of the market. However, expensive equipment and the lack of awareness regarding ailments for allergic diseases is projected to restrain the growth of the market.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Omega Diagnostics, Thermo Fisher Scientific, Stallergenes Greer, Siemens Healthcare, bioMerieux, Lincoln Diagnostics, Alcon Laboratories, HOB Biotech Group, Hycor Biomedical, and Hitachi Chemical Diagnostics, among others.
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The Allergy Diagnostics And Therapeutics market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Products Outlook (Revenue, USD Billion; 2020-2028)
- Instruments
- Consumables
- Services
Allergen type Outlook (Revenue, USD Billion; 2020-2028)
- Food
- Inhaled
- Drug
Test type Outlook (Revenue, USD Billion; 2020-2028)
- In Vivo
- In Vitro
Drug class Outlook (Revenue, USD Billion; 2020-2028)
- Antihistamines
- Corticosteroids
- Mast Cell Stabilizers
- Leukotriene Inhibitors
- Nasal Anticholinergics
- Decongestants
- Immunomodulators
- Autoinjectable Epinephrine
- Immunotherapy
End users Outlook (Revenue, USD Billion; 2020-2028)
- Academic Research Institutes
- Hospitals
- Diagnostic Laboratories
Key Regions Analyzed in the Report include:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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Furthermore, it consists information about individual segment of the Allergy Diagnostics And Therapeutics market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Further key findings from the report suggest
- The market is segmented on the basis of product into instruments, consumables, and services.
- The consumables segment accounts for the largest market share of ~50% in the year 2020 and is forecasted to witness the highest growth rate of 5.5% during the forecast period. The advancements in the healthcare and pharmaceuticals industry to detect allergic diseases in patients is the factor driving the growth of the segment.
- For instance, assay kits are necessary and readily available consumables, used in life science research, drug discovery development, and environmental monitoring.
- The market is segmented on the basis of allergen type into food, inhaled, and drug.
- The inhaled allergen type accounts for the largest market share of ~50% in the year 2020 and is also forecasted to witness the highest growth rate of 5.8% during the forecast period.
- The increasing population and carbon dioxide emission, leading to increasing cases of respiratory allergies, will drive the growth of this segment.
- The market is segmented on the basis of test type into in vivo and in vitro.
- The in vivo test accounts for a larger market share of ~60% in the year 2020.
- In vivo tests are widely used by healthcare and research industries since they are able to simulate realistic and clinically relevant test environment and conditions.
- The market is segmented on the basis of drug class into antihistamines, corticosteroids, mast cell stabilizers, leukotriene inhibitors, nasal anticholinergics, decongestants, immunomodulators, autoinjectable epinephrine, and immunotherapy.
- The antihistamines drug class accounts for the largest market share of ~20% in the year 2020.
- Antihistamines are used to treat allergic diseases, especially rhinitis. It is an inexpensive, and generic drug that provides relief from nasal congestion, sneezing, or hives caused by pollen, dust mites, or animal allergy.
- The market is segmented on the basis of end users into academic research institutes, hospitals, and diagnostic laboratories.
- The diagnostic laboratories account for the largest market share of ~52% in the year 2020, owing to the growing prevalence of allergic diseases and the need for proper treatment and detection of those diseases.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America, and MEA.
- The Asia Pacific region is forecasted to witness the highest growth rate of 5.8% during the forecast period owing to developing healthcare pharmaceutical industry in this region.
- Asia Pacific has been adopting and advancing itself in terms of technology, owing to the growing population; rise in the number of people suffering from allergic and respiratory diseases, and the need for better diagnostic methods.
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