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ALLERGY DIAGNOSTIC AND TREATMENT MARKET ANALYSIS

Allergy Diagnostic and Treatment Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

  • To Be Published : Nov 2024
  • Code : CMI8
  • Formats :
      Excel and PDF
  • Industry : Pharmaceutical

Increasing availability of effective treatment options is a major factor fueling growth of the allergy diagnostic and treatment market size. Overall, the billion dollar allergy diagnostic and treatment market revenue is expected to grow at a significant rate over the forecast period (2016–2024). With government taking key measures to improve healthcare facilities, many private players have emerged in the healthcare market to optimize and revolutionize the healthcare industry. These macro healthcare factors are expected to drive growth of various markets in the healthcare sector, most notably allergy diagnostic market.

Allergy is a form of hypersensitivity medical disorder of the immune system when the system reacts to a foreign substance (allergen). Symptoms of allergy include runny nose, red eyes, itchiness, hives, eczema or more severely an asthma attack. In similar context, allergy diagnostic services are used to identify the type of allergy and accordingly determine treatment regimen of allergic conditions. Moreover, with the amalgamation of advanced technologies in the field of point of care diagnostics, it is expected that the allergy diagnostic and treatment market would experience a significant growth in the near future.

Increasing preventative measure awareness is expected to drive sales of allergy diagnostic and treatment market size.

High incidence of allergic diseases such as allergic rhinitis, asthma, sinusitis, food allergy and other respiratory allergies are expected to boost growth of the allergy diagnostic and treatment market in the near future. For instance, according to the WHO, globally over 300 million patients suffered from asthma in 2013 and are expected to increase to over 400 million by 2025. Moreover, according to statistics provided by the American Academy of Allergy, Asthma & Immunology, globally around 15% of the population are affected by allergic rhinitis. Increasing prevalence of allergies among the global populace is expected to drive growth of the global allergy diagnostic and treatment market outlook. Furthermore, increasing government support for development of novel therapies and vaccines along with high research and development initiatives for development of advanced diagnostic techniques are expected to fuel growth of this market in the near future. Technological advancements in the field of in-vitro diagnostics and increasing focus on retaining superior quality of life are some of the factors that are projected to contribute towards growth of this market over the forecast period. However, high cost of these tests and unavailability of the tests kits are some of the factors that are projected to negatively influence growth of this market.

 Allergy Diagnostic and Treatment Market Taxonomy

Coherent market insights has segmented the market on the basis of

  • Allergy Type
  • Tests Performed
  • Medication
  • End Use

On basis of type of allergy, the allergy diagnostic and treatment market scenario can be segmented as follows:

  • Drug Allergy
  • Allergic Rhinitis
  • Food Allergy
  • Skin Allergy
  • Insect Allergy
  • Sinusitis
  • General Allergy

Sinusitis and food allergies are especially prevalent in developed regions.

Drug allergy segment is expected to grow at double digit rate between 2016 and 2024.

Some of the major diagnostic tests performed for detection of the types of allergy are as follows:

  • Specific IgE testing
  • Patch testing
  • Blood testing
  • Others

On the basis of medications, the allergy diagnostic and treatment market is segmented into

  • Antihistamines
  • Decongestants
  • Corticosteroids
  • Leukotrienes inhibitors
  • Mast cell inhibitors
  • Others

North America and Europe are expected to dominate the global allergy diagnostic and treatment market size

North America, followed by Europe accounted for the largest share of allergy diagnostic and treatment market revenue, mainly fueled by high incidence of allergic diseases in the U.S. According to a research conducted by the Centers for Disease Control and Prevention in 2013, in the U.S., between the periods of 1997 to 2011, food allergies among children increased around 50%. Moreover, according to the European Academy of Allergy and Clinical Immunology (EAACI), over 17 million people in Europe were affected by food allergy in 2015.

A highly fragmented and immensely competitive market

The market is expected to witness an exponential growth rate due to increasing prevalence of various types of allergies in developed nations such as the U.S, the U.K., France, Canada, and Spain. Some of the major companies in the allergy diagnostic and treatment market are bioMérieux, Danaher Corporation, GlaxoSmithKline plc, Hitachi Chemical Diagnostics, Inc., Merck & Co., Inc., Omega Diagnostics Group PLC, Siemens Healthcare, and Thermo Fisher Scientific, Inc.,

Key Developments

  • Increasing R&D in allergies and their treatment is expected to boost growth of the market. For instance, in November 2019, research conducted by the Center for Allergy and Asthma Research at Stanford University and funded by AnaptysBio, Inc. found that a single dose of etokimab could have the potential to desensitize peanut-allergic participants and possibly reduce atopy-related adverse events.
  • In April 2019, HypoPet announced the publication of important preclinical data for their cat allergy vaccine, HypoCatTM, which showed that HypoPet’s virus?like particle vaccine targeting the major feline allergen to which humans are allergic, successfully induced Fel d 1 binding antibodies in cats and that these antibodies neutralized the allergen.
  • In October 2019, a study in the Australasian Journal of Dermatologystated that fragrances are the leading cause of allergic skin reactions in children.

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About Author

Vipul Patil

Vipul Patil is a dynamic management consultant with 6 years of dedicated experience in the pharmaceutical industry. Known for his analytical acumen and strategic insight, Vipul has successfully partnered with pharmaceutical companies to enhance operational efficiency, cross broader expansion, and navigate the complexities of distribution in markets with high revenue potential.

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