The allergy diagnostics and therapeutics market is projected to reach USD 40.8 billion by 2022. It had a previous market estimate totaling USD 25.7 billion in 2014. Rising cases of allergic diseases coupled with need for in-vitro diagnostic blood test will create opportunities for the market. According to a report by WHO (World Health Organization), about 40 million were affected from inhaled allergies in the US and the number is expected to grow over the forecast period (2015-2022).
Full research report on allergy diagnostics and therapeutics market analysis:
Introducing technologically advanced therapeutics and diagnostics able to predict accurate results will boost market growth during the forecast period. Changing lifestyle, dietary habits, urbanization coupled with indoor and outdoor pollution will provide an impetus to the allergy diagnostics and therapeutics market.
The market is divided on the basis of food, drug, and inhaled allergen. Inhaled allergens earned the largest revenue in 2014 due to demand for allergy testing and rising cases of respiratory allergies.
In vivo and in vitro are 2 tests available in the allergy diagnostics and therapeutics market. In vivo are further sub-divided into skin prick, intradermal, and patch tests. In vivo tests had a 51% revenue share in 2014 on account of availability and ease of use. Skin prick had a large revenue share in 2014 on account of food allergy tests. IgE specific testing will create new avenues for this product. In vitro will gain a reputable share in the coming years on account of highly accurate results and less invasive methods. It has a CAGR over 12% during the forecast period.
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Products in the market are consumables, services, and instruments. Consumables sell in large volumes and dominated the market with a 55% revenue share in 2014. Expensive nature of reagents used frequently in diagnostics will help consumables retain its dominant position over the next 7 years. For instance, products like MeDALL allergen chip to determine allergies will propel allergy diagnostics and therapeutics market growth.
Academic research institutes, hospitals, and diagnostic laboratories are end-users of the market. Diagnostic laboratories had a revenue share over 50% in 2014. Hospitals will be the largest end-user with a CAGR above 12% by the end of the forecast period.
Prominent players of the allergy diagnostics and therapeutics market are Omega Diagnostics, Alcon Laboratories, Thermo Fisher Scientific, Siemens Healthcare, and bioMerieux.
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