Global Allergy Diagnostics Market Size to Reach USD 12.45 Billion 2030 | Emergen Research

High prevalence of allergic diseases is a significant factor driving the global allergy diagnostics market revenue growth

Vancouver, Aug. 21, 2023 (GLOBE NEWSWIRE) — The latest analysis by Emergen Research anticipates that the global market for allergy diagnostics is poised to attain a noteworthy valuation of USD 12.45 Billion by 2030, exhibiting a consistent compound annual growth rate (CAGR) of 11.1% in terms of revenue. A primary catalyst steering the augmented revenue generation within this market is the notable upsurge in the prevalence of allergic ailments. For instance, allergic rhinitis, commonly referred to as hay fever, affects approximately 7.8% of the populace in the United States.

Furthermore, statistics suggest that Immunoglobulin E (IgE)-mediated food allergies or sensitivities afflict around 3.5-4% of the general population in the U.S. This heightened incidence of allergic conditions is consequently spurring an escalated demand for allergy diagnostics. Progresses in diagnostic methodologies and algorithms are aiding medical practitioners in more precise allergy identifications, thereby facilitating the administration of tailored therapeutic interventions.

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A noteworthy obstacle that has the potential to impede the expansion of market revenue is the limited awareness and utilization of allergy testing technologies. To illustrate, despite the progression of scientific understanding pertaining to allergic conditions, nearly fifty percent of individuals afflicted with allergies opt for diagnosis and therapy through alternative healthcare practitioners annually.

Consequently, a portion of these individuals might be exposed to unverified allergy tests or therapies. The convergence of conventional Eastern healthcare principles with Western culture, coupled with sensationalized media coverage of groundbreaking allergy treatments, is contributing to this trend. Consequently, these factors possess the capacity to curtail the growth of revenue within the allergy diagnostics market.

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Scope of Research

Major Companies and Competitive Landscape

The global allergy diagnostics market is fragmented, with several large and medium-sized players accounting for the majority of market revenue. Major companies are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, and developing, testing, and introducing more effective allergy diagnostics services. Some major players included in the global allergy diagnostics market report are:

• Thermo Fisher Scientific Inc.
• Danaher
• Minaris Medical America, Inc.
• Siemens Healthcare GmbH
• Eurofins Scientific
• EUROIMMUN Medizinische Labordiagnostika AG
• BIOMÉRIEUX SA
• Stallergenes Greer
• Neogen Corporation
• Omega Diagnostics Group PLC

Strategic Development

• On 18 May 2022, Amulet, which is a startup developing the world’s tiniest, quickest, and sleekest molecular detection technology capable of identifying anything from infections in the air to pesticides in vegetables, announced the formal launch of its product. Allergy Amulet, which is a consumer brand with a signature wearable that notifies individuals of allergens in their food, and Amulet Scientific, a commercial brand that provides the industry with a detection platform for identifying a variety of molecular targets, including food toxins and environmental contaminants, are both owned by Amulet.
• On 18 June 2021, Reacta Biotech, which is a clinical diagnostic company focused on providing advanced diagnostics for life-threatening food allergies, announced that the Medicines and Healthcare products Regulatory Agency (MHRA) has approved its manufacturing facility in Deeside, North Wales, to start manufacturing its proprietary peanut Oral Food Challenge (OFC) under current Good Manufacturing Practices (cGMP) standards.

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Some Key Highlights From the Report

• The food allergens segment is expected to register fastest revenue CAGR during the forecast period, which is attributed to rising prevalence of food allergies among individuals in both developing and developed countries and initiatives from key market players. For example, Eurofins Technologies, which is a manufacturer of laboratory test kits and systems, announced the launching of the new SENSIStrip Allergen product line on 14 December 2020, which quickly identifies allergens that must be labeled on packaged food items. The allergy diagnostics market is also supported by regulatory activities from international agencies such as the U.S. Food and Drug Administration (FDA). To protect individuals with food allergies and other food hypersensitivities, FDA enforces laws requiring firms to list ingredients on packaged foods and drinks. Some foods or substances that cause allergies or other hypersensitivity reactions are subject to more severe labeling rules. These factors are driving revenue growth of the segment.
• In vitro tests segment is expected to register a high CAGR during the forecast period as patients are not exposed to allergens, which eliminates the possibility of adverse responses during testing. The patient’s use of antihistamines or other medicines causes no interference. Testing is not prohibited in the presence of broad dermatological sickness or dermographism. The standardization and quantification of test systems enable more robust comparisons in an individual across time and across testing sites. A single blood sample can be used to measure specific IgE to a wide range of allergens, and a more extensive test menu is available.

• The market in North America is expected to account for largest revenue share during the forecast period, which is attributed primarily to rising prevalence of allergic reactions, increasing regulatory approvals for current innovations, and favorable reimbursement policies. On 22 August 2022 for example, Thermo Fisher Scientific Inc. gained FDA clearance for the use of ImmunoCAP Specific IgE (sIgE) Allergen Components in vitro for wheat and sesame allergies. These new blood tests can assist specialists and other healthcare providers in identifying wheat and sesame allergies in those who are at risk of a severe allergic reaction. ImmunoCAP Specific IgE Allergen Components will be accessible shortly throughout the U.S.

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Emergen Research has segmented the global allergy diagnostics market on the basis of product & service, allergen, test type, end-use, and region.

• Product & Service Outlook (Revenue, USD Billion; 2019–2030)
  • Consumables
  • Instruments
    • • • Immunoassay Analyzers
        • ELISA Analyzers
        • Luminometers
        • Others
  • Services
• Allergen Outlook (Revenue, USD Billion; 2019–2030)
  • Inhaled Allergens
  • Food Allergens
  • Drug Allergens
  • Others
• Test Type Outlook (Revenue, USD Billion; 2019–2030)
  • In Vivo Tests
    • • • Skin Prick Tests
        • Patch Tests
        • Others
  • In Vitro Tests
• End-use Outlook (Revenue, USD Billion; 2019–2030)
  • Diagnostics Laboratories
  • Hospital-based Laboratories
  • Academic Research Institutes
  • Others
• Regional Outlook (Revenue, USD Billion; 2019-2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. Italy
    5. Spain
    6. Sweden
    7. BENELUX
    8. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. U.A.E.
    3. South Africa
    4. Israel
    5. Rest of MEA

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