The report on allergy diagnostics market segments the global Allergy Diagnostic Market by product, by allergen type, by end users and by regions.
Key allergens that disturb the human immune system are dust mites excretion, pollen and pet dander. The different kinds of allergies are categorized as food allergy, skin allergy and dust allergy, allergy to insect stings, drug allergy, and mold allergy. Allergy diagnostic includes testing of skin, prick or blood testing, and is a method of for determining to what substances a person is allergic. Moreover, this market comprises numerous products that are used by diagnostic laboratories, hospitals, academic institutes, and allergists to detect various allergies. In 2015, the global allergy diagnostic market was valued at approx. USD 1.3 billion and is projected to surpass USD 5.30 billion by 2022. The global allergy diagnostic market is projected to grow at a CAGR between 12.0% and 12.5% over the forecast period during 2016 to 2022.
Increasing geriatric population coupled with growing environmental pollution and rising healthcare expenditure are the key market driving factors responsible for the growth of this market. Moreover, rapid lifestyle changes leading to health disorders and increasing allergic condition with demand for in vitro diagnostic blood tests are expected to contribute to the growth of this market in near future. On the other hand, stringent government regulations and policies and high cost of investment are likely to hamper the growth of the global allergic diagnostic market. Growing prevalence of allergic diseases and need for developing new therapies are expected to bring new opportunities for the major market players in the market.
The report on allergy diagnostics market segments the global allergy diagnostic market by product, by allergen type, by end users and by regions. Market segmentation based on the product includes assay kits, instruments and services. By type of allergen segment comprises food allergen, inhaled allergen, drug allergen and other allergen. Diagnostic laboratories, hospitals, academic research institutes, and other are the major end users of this market.
Based on the geography, the global allergy diagnostic market is segmented into North America, Europe, Asia Pacific, Latin America, and Rest of the world (ROW. Moreover, North America dominated the entire allergy diagnostic market as of 2015 and accounted 40% of the total revenue of this market. This is due to increased health care expenditure, advanced diagnostic technologies, improved medical insurance policies, better government support in this region. Europe is also considered a prominent market for the allergy diagnostic in terms of revenue after North America. Moreover, the allergy diagnostic market in Asia Pacific is projected to witness high growth rate over the forecast period owing to increasing prevalence of allergic diseases, developing health care infrastructures, increasing disposable income and rising geriatric population in this region.
The report on allergy diagnostics market covers major player operating the allergy diagnostic market includes, Thermo Fischer Scientific Inc, Quest Diagnostics Inc, BioMerieux SA, Stallergenes Greer, Omega Diagnostics Group Plc, Siemens Healthineers, HAL Allergy Group