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Allergy occurs when a person's immune system reacts to substances in the environment that are harmless for most people. Allergy refers to the damaged or hypersensitive immune responses towards substances that either enter or come in contact with the human body, such as food, pollen, dust or fur, and pet dander. Although allergies can develop at any age, the risk of developing allergies is genetic in nature. Some of the most common allergic conditions include hay fever, allergic eyes, asthma, and allergic shock.
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Global Allergy Diagnostic Market: Market Dynamics
According to the report, increasing allergic conditions, and changing lifestyle leading to rise in incidences of allergic diseases are some other key factors fuelling demand of the global allergy diagnostic market. Chemicals used during food production plays an important role in increasing food allergic condition, owing to increase in use of certain medicines contributes to rise in allergies due to antibiotics causing mild skin rashes. Moreover, constantly changing climatic condition, increase in carbon dioxide levels in the environment and increased environmental pollution are major factors expected to drive growth of the global allergy diagnostic market over the forecast period.
However, high investment cost related to development activities for the detection of allergies and new innovative diagnostic test material are some major factors restraining growth of the global allergy diagnostic market.
A major and growing trend, especially in developed countries, is minimal or no use of needle for allergy diagnostic detection test and development of new treatment such as bronchial thermoplasty is expected to drive growth of the global allergy diagnostic market to a significant extent during the forecast period. In addition, growing expenditure on infrastructural development is expected to create a wider scope for potential opportunities for key players in the market in future. Manufacturers can capitalize on these opportunities by developing new technology and low cost health package.
According to allergy diagnostic market infographics published on MarketResearch.Biz, revenue from assay kits expected to increase 3.4X between 2016 and 2026.
Global Allergy Diagnostic Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global allergy diagnostic market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global allergy diagnostic market is expected to expand at a moderate CAGR of 12.4% during the forecast period.
Global Allergy Diagnostic Market: Segmental Snapshot
The market report has been segmented on the basis of product type, allergen type, end user, and region. The product type segments include assay kit, instruments, services. Allergen type segments include inhaled allergen, food allergen, drug allergen, and others. End-use type segment includes hospitals, laboratories, academics, and others. The regions and countries covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Rest of the World.
By product type: Assay kits segment is estimated to register a CAGR of over 13.0%, thereby accounting for highest revenue share among the type segments.
By allergen type: Inhaled allergen segment is estimated to account for highest revenue share among the allergen type segments, registering a CAGR of over 12.9% over the forecast period.
By end-user: laboratories segment is estimated to account for the highest revenue share among the allergen type segments, registering a CAGR of over 12.9% over the forecast period.
By region: The market in North America accounted for highest revenue share in the global allergy diagnostic market in 2016, and is expected to record highest CAGR of over 12.3% between 2016 and 2026.
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Global Allergy Diagnostic Market: Competitive Analysis
The research report on the global allergy diagnostic market includes detailed competitive analysis on major companies such as Hitachi Chemical Diagnostics Inc., HOB Biotech Group Suzhou Co. Ltd., HUCOR Biomedical LLC, Quest Diagnostics Inc., Stallergenes Greer, BioMerieux SA, Omega Diagnostics Group PLC., Siemens AG, Lincoln Diagnostics, Inc., and Thermo Fisher Scientific Inc.
The Global Allergy Diagnostic Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2016-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global allergy diagnostic market for 2016-2026.
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