Global Allergy Diagnostics Market Report 2022: Market To
Dublin, June 07, 2022 (GLOBE NEWSWIRE) — The ‘Allergy Diagnostics – Global Market Trajectory & Analytics’ report has been added to from ResearchAndMarkets.com offer.
Global allergy diagnostics market to reach US$5.7 billion by 2026
The global allergy diagnostics market, estimated to be worth US$3.8 billion in 2022, is expected to reach a revised size of US$5.7 billion by 2026, growing at a CAGR of 9.3% over the analysis period.
The global allergy diagnostics market, after slowing for some time due to the Covid-19 effect, is recovering and growing, driven by the increase in allergy cases resulting from exposure to pollution and increased consumption of processed foods as well as dairy and confectionery products. .
The increasing prevalence of allergies and the associated health implications justify an urgent need for effective diagnosis and treatment. The rapid increase in the incidence of allergies coupled with changing dietary habits plays a pivotal role in strengthening the allergy diagnostics market. The growth of the market is also augmented by the increase in the level of environmental pollution and the resultant increase in the number of allergy sufferers.
Changing lifestyles and dietary habits, coupled with rapid urbanization and increasing levels of outdoor and indoor pollution, are likely to increase the incidence of allergic conditions. Market growth is also estimated to be propelled by strong demand for in vitro diagnostic blood tests.
Test Kits, one of the segments analyzed in the report, is expected to grow at a CAGR of 10% to reach US$3.3 billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Instruments segment is readjusted to a revised CAGR of 9.2% for the next 7-year period. This segment currently accounts for a 28.2% share of the global allergy diagnostics market.
The test kits are expected to see strong demand fueled by key factors such as growing preference for test kits by physicians in allergy testing, high prevalence of allergic diseases and increasing testing volumes. Wide product availability and the need for repeat purchases in allergy testing are also expected to drive high consumption of test kits in the coming years.
Despite the high cost of instruments, the segment is expected to hold a large share owing to the long lifespan of instruments and limited need for frequent installations. The purchase of used instruments by smaller healthcare organizations also increases the instrument market share.
The US market is estimated at $1.3 billion in 2022, while China is expected to reach $622.5 million by 2026
The allergy diagnostics market in the United States is estimated to be worth US$1.3 billion in 2022. The country currently accounts for a 34.21% share of the global market. China, the second largest economy in the world, is expected to reach an estimated market size of US$622.5 million in 2026 growing at a CAGR of 13.8% over the analysis period.
Other noteworthy geographic markets include Japan and Canada, each forecasting growth of 7.1% and 8.9% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of approximately 8.8%, while the rest of the European market (as defined in the study) will reach US$189.6 million by the end of the year. analysis period.
Although developed regions are major revenue contributors, developing regions have emerged as hotspots for the future growth of the allergy diagnostics market. Factors such as increased public and private sector investment in health, increased incidence of allergies, improved access to health care and increased levels of awareness promote market growth in developing regions.
Services segment to reach $1.1 billion by 2026
In the global services segment, the United States, Canada, Japan, China and Europe will drive the estimated CAGR of 7.5% for this segment. These regional markets representing a combined market size of US$544.4 million will reach a projected size of US$872.6 million by the end of the analysis period.
China will remain among the fastest growing markets in this group of regional markets. Led by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$124.1 million by 2026, while Latin America will expand to a CAGR of 9.6% over the analysis period.
Main topics covered:
1. MARKET OVERVIEW
Allergens: a prelude
Key Allergy Statistics
Allergy: symptoms and causes
Allergy diagnosis: an introduction
Food allergen analysis
Impact of Covid-19 and a looming global recession
The allergy diagnostics market under the lens of Covid
Telemedicine gains prominence amid pandemic
Global Allergy Diagnostics Market Expected to Grow Rapidly
With allergies on the rise for whatever reason, be it our Neanderthal genes, the hygiene hypothesis, or the vitamin D hypothesis, the need for effective diagnostics has never been greater.
Assay kits dominate the allergy diagnostic market
The inhaled allergen segment will see the fastest growth
US Dominates Allergy Diagnostics Market, China to See Fastest Growth
Growing demand for in vitro diagnostic tests for allergy diagnosis Recent market activity
Competitive Market Presence – Strong/Active/Niche/Trivial for 67 players globally in 2022 (E)