(EMAILWIRE.COM, December 20, 2024 ) The global Allergy Diagnostics Market growth forecasted to transform from USD 5.3 billion in 2024 to USD 9.8 billion by 2029, driven by a CAGR of 11.0%. The market will grow as a result of rising investments in allergy research, a rise in hospitals offering allergy diagnosis services, and an ongoing rise in allergies brought on by dust and mites in homes. However, factors that are anticipated to hinder the growth of this market during the projected period include the lack of knowledge about allergy disorders and symptoms as well as problems with the cost of instruments for small laboratories and clinics.
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The consumables segment is expected to account for the largest share in 2023.
The Allergy Diagnostics market, by product & service, has been segmented into consumables, instruments, and services. The consumables segment accounted for the largest share of the Allergy Diagnostics market in 2023. This segment is also anticipated to experience significant growth over the projected period. The increasing demand for rapid diagnosis of allergic patients which is driven by increasing number of allergic cases can be attributed for the larger share of this segment during the forecast period.
In Vivo test segment held the largest market share in the Allergy Diagnostics market.
Based on the test type, the Allergy Diagnostics market is segmented into in vivo tests and in vitro tests. In 2023, the in vivo tests segment accounted for the largest share of the Allergy Diagnostics market. The growth of this segment is mainly driven by the growing adoption of various in vivo tests, such as skin prick tests which is considered as the first line of diagnosis for allergy and favorable government support and guidelines.
Inhaled allergy segment held the largest market share in the Allergy Diagnostics market.
Based on the allergen, the Allergy Diagnostics market is segmented into inhaled allergens, food allergens, drug allergens, and other allergens. In 2023, the inhaled allergens segment accounted for the largest share of the Allergy Diagnostics market due to the rising environmental pollution, rising home dust & mites coupled with other factors such as pollen, fungus, mold, and dust, and switching lifestyles, including rise in indoor activities and exposure to indoor allergen.
North America dominates the global Allergy Diagnostics market
Based on the region, the Allergy Diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. North America market is driven by availability of technologically advanced products and growing research on allergy by companies and government. The Asia Pacific segment is projected to register the highest CAGR during the forecast period. Developing healthcare infrastructure, lifestyle changes and climatic conditions, increased ozone and industrial pollution levels, and the rising demand for quality medical care are some of the major factors driving the growth of this regional market.
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Allergy Diagnostics Market Dynamics:
Drivers:
1. High incidence and heavy economic burden of allergic diseases
Restraints:
1. High pricing of allergy diagnostic instruments
Opportunities:
1. Integration of AI in allergy diagnosis
Challenge:
1. Shortage of allergists
Key Market Players of Allergy Diagnostics Industry:
Major players in Allergy Diagnostics market include Thermo Fisher Scientific Inc., (US), Siemens Healthineers AG (Germany), Danaher (US), and Canon, Inc. (Japan), Minaris Medical America, Inc. (US).
Breakdown of supply-side primary interviews by company type, designation, and region:
By Company Type: Tier 1 (20%), Tier 2 (45%), and Tier 3 (35%)
By Designation: C-level (30%), Director-level (20%), and Others (50%)
By Region: North America (36%), Asia- Pacific (27%), Europe (25%), and Latin America- (7%) and MEA-(5%)
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Recent Developments of Allergy Diagnostics Industry:
-In 2023, Canon has completed share transfer procedures with Resonac Corporation. This share transfer is intended to be used to purchase the Resonac subsidiaries Minaris Medical Co., Ltd. and Minaris Medical America, Inc. (collectively, “Minaris Medical”). After this share acquisition is finished, Minaris Medicalwhich runs companies that deal with automated analytical tools and in vitro diagnostic reagentswill be consolidated under Canon Medical.
-In 2023, Romer Labs Division Holding GmbH (Austria) acquired CPAK INTER Co., Ltd. (Thailand), a long-time distributor of Romer Labs solutions based in Bangkok. With the acquisition, Romer Labs has achieved yet another significant milestone in the quickly expanding Asian food safety industry.
-In 2022, The US Food & Drug Administration (FDA) has cleared ImmunoCAP Specific IgE (sIgE) Allergen Components for use in in vitro diagnostic testing for wheat and sesame allergies, according to a statement from Thermo Fisher Scientific, Inc. (US).
