Published on : Dec 15, 2017
Albany, New York, December 15, 2017: Allergies are one of the most common chronic health conditions in the world. A person becomes allergic when their body develops antigens against a substance. A recent study reveals that, due to the growing prevalence of allergies across the globe, the early diagnostic and therapeutic has been growing rapidly. Market Research Hub (MRH) has freshly broadcasted a study titled “Allergy Diagnostics Market: Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2022)” to its vast archive, which states that the global revenues in the market is projected to be worth US$ 4,000 Mn by 2022, expanding at a strong CAGR therein.
Allergy is an umbrella term embracing all physical body reactions to certain triggering factors; most of the time with the environment. Incidences of allergic diseases including sinusitis, food allergy, asthma, and allergic rhinitis, have surged significantly over the past few years. According to the statistics rendered by American Academy of Allergy, Asthma & Immunology, almost 15% of the global population is affected by allergic rhinitis annually. Considering this fact, governments across the globe are increasingly supporting the development of novel therapies & vaccines for different types of allergic disorders.
Market Key Insights
- Allergy diagnostic services help in identifying types of allergies and consequently determining treatment regimen with respect to specific allergic conditions. Recently, a key theory for development of allergy diagnostics has been presented which is named as ‘Hygiene Hypothesis’. The hypothesis accentuates on lack of early exposure to microorganisms and infectious agents, which increases susceptibility of an individual to allergy.
- An alarming rise in pollution levels, inherent factors responsible for the proneness to allergic reactions, the availability of advanced technologies for allergy diagnostics, and increased healthcare expenditure worldwide are also subsidizing toward the growth of the allergy diagnostics market.
- Geographically, North America will remain the largest market for allergy diagnostics in terms of revenues, with forecast to reach nearly US$ 1,500 Mn by 2022-end. Growth of the market in this region can be attributed to factors such as improved medical insurance policies and better government support.
- By type of allergen, inhaled allergens are proposed to secure a princely share in the global allergy diagnostics market during the forecast period. On the other hand, In-vitro test will remain the most lucrative test used for allergy diagnostics across the globe.
- On the basis of end-user, hospitals will continue to be the fastest growing end-users of allergy diagnostics products in the future.
At last, a detailed analysis of competitive landscape comprising all essential knowledge about companies participating in the market is highlighted in the study, helping readers to study the growth aspects of the market players. At present, key players functioning in the global allergy diagnostics market include R-Biopharm AG, Siemens Healthcare, Lincoln Diagnostics, Inc., Hycor Biomedical Inc., HOB Biotech Group Co, Biomérieux SA, Hitachi Chemical Co., Ltd., Stallergenes Greer, Danaher Corporation, and Thermo Fisher Scientific, Inc.
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