The allergy diagnostics market is expected to grow at around 11.6% CAGR throughout the forecast period from 2021 to 2031

According to the ESOMAR certified Future Market Insights (FMI) research report, the demand for allergy diagnostics has increased significantly due to the rising incidence of allergic asthma and food allergies globally. According to the study, the global allergy diagnostics market is expected to grow at around 11.6% CAGR throughout the forecast period from 2021 to 2031.

According to the report, the rising incidence of drug allergies, particularly penicillin and morphine, has fueled the demand for allergy diagnostics across the world.

The report also states that increasing air pollution and lack of food and drug allergy awareness in emerging and poor countries are encouraging market players to develop cost-effective allergy diagnostic kits.

According to a report published by the World Health Organization, approximately 262 million people worldwide are affected by asthma, of which 461,000 die from it.

The growing demand for effective treatment and treatment of the causes of asthma will contribute to the overall expansion of the allergy diagnostics market.

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The allergy diagnostics market has been growing slowly during the COVID-19 pandemic. Indeed, the pandemic has led to the suspension of immunological care and diverted the healthcare professional to the treatment of COVID patients.

For patients with severe asthma or another allergic reaction, virtual care and limited visitation methods have been used to restrict human contact and stop transmission of the virus.

The introduction of cost-effective food sensitivity and home allergy diagnostics will drive the market growth in the coming years. Such applications will reduce the burden on hospitals and laboratories, resulting in reduced medical and allergy diagnostic costs.

Going forward, the market is expected to witness significant growth as the majority of diagnostic labs and hospitals are turning to automated allergy diagnostics for its high efficiency. Canada and the United States are likely to offer very opportunistic prospects, contributing to the overall expansion of the market.

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Key Findings from the IMF Allergy Diagnostics Market Research

  • The United States is expected to dominate the allergy diagnostics market owing to the increasing incidence of skin allergies, especially eczema and skin inflammation, as well as the high rate of allergic rhinitis (hay fever) in the American black population.
  • The presence of advanced healthcare infrastructure, favorable government and insurance policies, and increased per capita income are the major drivers of the allergy diagnostics market in Canada.
  • The UK will provide lucrative opportunities due to the growing awareness of asthma and other allergic reactions such as atopic eczema and hay fever. The high prevalence of allergies will fuel the demand for allergy diagnostics in the country.
  • Rising per capita income and increasing public and private funding for asthma awareness will drive the sales of allergy diagnostics market in China.
  • India has a low per capita income and the presence of a below average healthcare system. The high prevalence of stigmatic myths and beliefs regarding asthma is one of the major factors limiting the growth of the market.

Competitive landscape

The allergy diagnostics market is a highly competitive market owing to the presence of global players in the market. Market players are using several marketing techniques to expand their global reach.

The allergy diagnostics market players are focusing on using organic and inorganic strategies to expand their global presence.

Inorganic strategies include strategic merger and acquisition and alliance formation with regional distributors to strengthen their supply chain channels.

They also emphasize faster product approvals, product development and patents.

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Major Players operating in the Allergy Diagnostics Market are:

  • Hitachi Chemical Co.Ltd
  • Thermo Fisher Scientific Inc.
  • Siemens Healthineers
  • Danaher Company
  • HOB Biotech Group Co
  • bioMerieux
  • Hycor Biomedical Inc.

Discover IMF’s extensive ongoing healthcare coverage

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About Future Market Insights (IMF)

Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, USA and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.

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