Healthcare

Allergy Diagnostics and Therapeutics Market Report

The Allergy Diagnostics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Allergy Diagnostics Market:

https://www.thebusinessresearchcompany.com/report/allergy-diagnostics-global-market-report

According to The Business Research Company’s Allergy Diagnostics Global Market Report 2024, The allergy diagnostics market size has grown rapidly in recent years. It will grow from $5.77 billion in 2023 to $6.48 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to rise in prevalence of allergies, investments in research and development of allergy diagnostics, changing dietary habits and environmental factors, government initiatives, rise in demand for personalized medicine.

The allergy diagnostics market size is expected to see rapid growth in the next few years. It will grow to $10.4 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to economic growth, expanding healthcare infrastructure, expansion of the aging population, greater emphasis on early diagnosis and prevention, . Major trends in the forecast period include molecular allergy diagnostics, customized allergen profiles, allergy testing kits for home use, integration of artificial intelligence (ai), telemedicine and remote allergy consultations.

The increased occurrences of allergic diseases will propel the growth of the allergy diagnostics market. The rise in allergy diseases has been attributed to increased environmental pollution from traffic and numerous industries. An allergic reaction is described as an abnormal immune system response to an allergen. Allergy diseases include anaphylaxis, allergic rhinitis (often referred to as ‘hay fever’), food allergies, skin allergies, and allergic asthma. Avoiding the allergen is the most essential treatment for allergic disorders. As a result, proper allergy diagnosis is crucial for effective allergy treatment. For instance, according to the American College of Allergy, Asthma, and Immunology (ACAAI), asthma and allergic diseases were common in the US for all the age groups. Asthma affected 24 million people in the US which included more than 6 million children. Allergies were 6th leading cause of illness and costed around $18 million in excess. More than 50 million Americans suffered from allergies each year. Thus, the rise in the prevalence of allergic diseases will further support the growth of the allergic diagnostics market.

Get A Free Sample Of The Report (Includes Graphs And Tables):

https://www.thebusinessresearchcompany.com/sample.aspx?id=5655&type=smp

The allergy diagnostics market covered in this report is segmented –

1) By Test Type: In-vivo Allergy Tests, In-vitro Allergy Tests

2) By Allergen: Inhaled Allergens, Food Allergens, Drug Allergens

3) By Products: Consumables, Instruments, Luminometers

4) By End User: Diagnostics Laboratories, Hospital-based Laboratories, Academic and Research Institutes

The rise in the number of collaborations and partnerships among companies operating in the allergy diagnostics industry to invent new testing methods or improve existing ones is a recent trend in the market. For instance, in August 2022, LifeMD, a US-based telehealth company announced strategic partnership between its wholly-owned subsidiary, Cleared and Allergenis, a US-based predictive data analytics company. The strategic partnership is aimed at leveraging Cleared’s allergy telehealth expertise and allergenis’ peanut allergy diagnostic blood test in the direct-to-customer channel.

The allergy diagnostics market report table of contents includes: