Allergy Diagnostics and Therapeutics Market Outlook
According to a new report by Expert Market Research titled, “Global Allergy Diagnostics and Therapeutics Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global allergy diagnostics and therapeutics market is projected to grow at a CAGR of 6.50% between 2024 and 2032. Aided by the surging prevalence of allergic conditions globally and the advancements in diagnostic technologies, the market is expected to grow significantly by 2032.
Allergic reactions are hypersensitive responses of the immune system to typically harmless substances in the environment, such as pollen, pet dander, or certain foods. With modern lifestyles, urbanisation, and increasing exposure to various allergens, the incidence of allergic diseases like rhinitis, asthma, and food allergies has seen a significant upswing. Consequently, the demand for accurate diagnostics and effective therapeutics has grown, driving the global allergy diagnostics and therapeutics market growth.
Allergy diagnostics encompass a range of tests, from skin prick tests to blood assays like ImmunoCAP, used to identify and measure allergen-specific antibodies in a patient’s system. These diagnostics are pivotal in not only confirming the presence of an allergy but also pinpointing the specific allergens responsible, thereby guiding effective treatment. The constant evolution in diagnostic technologies, ensuring quicker, more accurate results, acts as a significant booster for allergy diagnostics and therapeutics market demand.
On the therapeutic side, the market has witnessed a plethora of innovations. From antihistamines to corticosteroids and beyond, therapeutic options have expanded immensely. The advent of biologics and allergen-specific immunotherapies has transformed the treatment landscape, offering more personalised and targeted treatments for patients with severe and refractory allergies.
The escalating awareness and understanding of allergic conditions among the general populace, combined with improved access to medical care, are influencing the allergy diagnostics and therapeutics market outlook. As awareness grows, more individuals are seeking medical advice and treatment for their allergic symptoms, thus pushing the demand for diagnostic tests and therapeutic solutions.
Additionally, the medical community’s deepening knowledge of allergic diseases has spotlighted the need for early diagnosis and intervention, particularly in conditions like food allergies in children, where timely intervention can significantly alter the disease trajectory. As a result, many healthcare settings are incorporating routine allergy screenings, especially in paediatric populations, further amplifying the market’s growth potential.
Allergy Diagnostics and Therapeutics Market Segmentation
The market can be divided based on product, allergen type, end use, diagnostic tests, drug class, and region.
Market Breakup by Product
- Instruments
- Consumables
- Services
Market Breakup by Allergen Type
- Food
- Inhaled
- Drug
- Others
Market Breakup by End Use
- Diagnostics Labs
- Hospitals
- Academic Research Institutes
Market Breakup by Diagnostic Tests
- In-Vivo
- Skin Prick Test
- Intradermal
- Patch Test
- In-Vitro
Market Breakup by Drug Class
- Antihistamines
- Decongestants
- Corticosteroids
- Mast Cell Stabilisers
- Leukotriene Inhibitors
- Nasal Anticholinergics
- Immunomodulators
- Autoinjectable Epinephrine
- Immunotherapy
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global allergy diagnostics and therapeutics market. Some of the major players explored in the report by Expert Market Research are as follows:
- GlaxoSmithKline plc
- Stallergenes Greer Ltd
- Hitachi Chemical Co., Ltd
- Omega Diagnostics Group PLC
- bioMérieux SA
- Thermo Fisher Scientific Inc.
- Siemens Healthcare GmbH
- Others