Dublin, July 13, 2021 (GLOBE NEWSWIRE) -- The "Allergy Diagnostics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Allergy Diagnostics Market to Reach US$8.5 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Allergy Diagnostics estimated at US$4.6 Billion in the year 2020, is projected to reach a revised size of US$8.5 Billion by 2027, growing at a CAGR of 9.1% over the analysis period 2020-2027.
Assay Kits, one of the segments analyzed in the report, is projected to grow at a 9.8% CAGR to reach US$4.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Instruments segment is readjusted to a revised 8.9% CAGR for the next 7-year period. This segment currently accounts for a 27.8% share of the global Allergy Diagnostics market.
The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 12.1% CAGR for the Period of 2020-2027
The Allergy Diagnostics market in the U.S. is estimated at US$1.2 Billion in the year 2020. The country currently accounts for a 27.03% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2027 trailing a CAGR of 12.2% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.1% and 7.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.1% CAGR while Rest of European market (as defined in the study) will reach US$1.8 Billion by the year 2027.
Services Segment Corners a 20.6% Share in 2020
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$718 Million in the year 2020 will reach a projected size of US$1.1 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2027, while Latin America will expand at a 8.8% CAGR through the analysis period.
Focus on Select Players
- Alk-Abello A/S (Denmark)
- Allergy Therapeutics PLC (UK)
- Angsana Molecular & Diagnostics Laboratory Pte. Ltd. (Singapore)
- Astra Biotech Gmbh (Germany)
- biomerieux SA (France)
- Danaher Corporation (USA)
- Demeditec Diagnostics GmbH (Germany)
- EUROIMMUN AG (Germany)
- GA Generic Assays GmbH (Germany)
- Hitachi Chemical Co., Ltd. (Japan)
- INDOOR Biotechnologies, Inc. (USA)
- Lincoln Diagnostics, Inc. (USA)
- Omega Diagnostics Group Plc (UK)
- R-Biopharm Ag (Germany)
- Roxall Medizin GmbH (Germany)
- Stallergenes Greer (UK)
- Siemens Healthineers (Germany)
- Tecan Trading AG (Switzerland)
- Theradiag (France)
- Thermo Fisher Scientific Inc. (USA)
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- Allergens: A Prelude
- Key Allergy Stats
- Allergy: Symptoms and Causes
- Global Allergy Diagnostics Market Set to Witness Rapid Growth
- With Allergies on the Rise for Whatever Reason Be It Our Neanderthal Genes or Hygiene Hypothesis or Vitamin D Hypothesis, the Need for Effective Diagnostics Has Never Been Greater
- Assay Kits Dominate the Allergy Diagnostics Market
- Inhaled Allergens Segment to Witness Fastest Growth
- US Dominates the Allergy Diagnostics Market, While China to Witness the Fastest Growth
- Rising Demand for In-Vitro Diagnostic Tests for Allergy Diagnosis
- Development of Effective Allergy Diagnostic Products Cuts Down on Healthcare Spending
- Labs Embrace Automation and Advanced Allergy Tests for Fast Turnaround Times
- Need to Offer Quality Services at Affordable Costs Prompts Labs to Consider Reagent Rental Agreements
- In-Vitro IgE Molecular Diagnostics to Transform Allergy Testing Market
- Macro Array Diagnostics Unveils Allergy Explorer for Allergy Diagnostics
- Rising Alcohol and Drug Abuse Increases Demand for Allergy Diagnostics
- Increasing Cases of Allergies Drive Development of Advanced Allergy Diagnostics Solutions
- Focus on Single and Protein Allergens
- IgE Antibody Tests
- Allergy Diagnostic Reagents on Microchip
- Allergy Diagnosis Moves from Lab-based to Decentralized POC Tests
- Patch Test to Experience Healthy Growth
- SmartPractice Secures FDA Approval for T.R.U.E. Test(R) Patch Test for Pediatric Use
- Providers of Allergy Diagnostic Services Focus on Vertical Integration
- Allergic Diagnostic Challenges in Patients
- Enhanced Access to Allergy Diagnosis Medical Insurance & Instrument Allowances in the US Widen Market Prospects
- Typical Cost Structure for Allergy Testing
- Select Digital Technologies to Provide Help in Managing Food Allergy
- Select Recent Launches in the Allergy Diagnostics Market to Bolster Market Expansion
- EUROIMMUM Develops EUROLINE DPA-Dx Pollen Southern Europe 1 Test for Pollen Allergies
- Hycor Biomedical Secures FDA Clearance for NOVEOS Allergy Testing System
- ASI Introduces IVT Allergy(R) 3 Screen Panel for Allergy Skin Testing
- CLA-1 (TM) Luminometer In-Vitro Allergy Testing Platform for Accurate, Reliable Results
- Growth Drivers
- Increasing Prevalence and Incidence of Allergic Disorders to Drive the Demand for Allergy Diagnostics
- Atopic Dermatitis (Eczema) Prevalence Rates among Global Adult Population
- Environmental Changes and Pollution Aggravate Incidence of Allergic Reactions, Resulting in Increased Need for Allergy Diagnostics
- Major Environmental Factors with Link to Allergic Diseases
- Growing Number of Food Allergy Cases Fuels Demand for Allergy Testing Kits
- Prevalence Rate of Five Common Food Allergies among US Adults
- Factors Responsible for Rising Prevalence of Food Allergy
- Burgeoning Aging Population and Longer Life Expectancy to Drive Allergy Diagnostics Market
- Market Restraints
- Inadequate Knowledge about Food Allergy Inhibits Growth of Allergy Diagnostic Market
- Expensive Nature of Allergy Diagnostics Approaches Limits Market Growth
- New Regulations and Statutory Provisions to Affect Diagnostic Allergen Extracts
III. MARKET ANALYSIS
- Allergy Prevalence Statistics
- Incidences of Food Allergy and Intolerance on the Rise among Americans
- Pain Killer Abuse Leads to High Incident of Drug Allergy Reactions
- US Witnesses Increasing Popularity of At-Home Allergy Diagnostic Kits
- US Offers Favorable Reimbursements for Allergy Testing
- Food Allergy: Regulatory Overview
- EU FIC Regulation
- Soy Allergy Regulations
- Egg Allergy Regulations
- Allergy: An Overview
- Food Allergies and Intolerances on the Rise among Indians
IV. COMPETITION
- Total Companies Profiled: 67
For more information about this report visit https://www.researchandmarkets.com/r/t4vcfo