ALLERGY DIAGNOSTIC AND TREATMENT MARKET ANALYSIS

Market Challenges And Opportunities

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.