Allergy Diagnostics Market is Expected to Reach $9.8 billion | MarketsandMarkets™

Chicago, May 09, 2024 (GLOBE NEWSWIRE) -- Allergy Diagnostics market in terms of revenue was estimated to be worth $5.3 billion in 2024 and is poised to reach $9.8 billion by 2029, growing at a CAGR of 11.0% from 2024 to 2029 according to a latest report published by MarketsandMarkets™.

The market will grow as a result of rising investments in allergy research, a rise in hospitals offering allergy diagnosis services, and an ongoing rise in allergies brought on by dust and mites in homes. However, factors that are anticipated to hinder the growth of this market during the projected period include the lack of knowledge about allergy disorders and symptoms as well as problems with the cost of instruments for small laboratories and clinics.

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Allergy Diagnostics Market Scope:

Report Coverage Details
Market Revenue in 2024 $5.3 billion
Estimated Value by 2029 $9.8 billion
Growth Rate Poised to grow at a CAGR of 11.0%
Market Size Available for 2022–2029
Forecast Period 2024–2029
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product & Service, Test Type, Allergen, and End User
Geographies Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Integration of AI in allergy diagnosis
Key Market Driver High incidence and heavy economic burden of allergic diseases

Based on product & service, the Allergy Diagnostics market is segmented into consumables, instruments, and services. The consumables segment accounted for the largest share of the Allergy Diagnostics market in 2023. The growing number of allergy cases and the demand for quick testing to identify allergic disorders are the reasons for the consumables segment's significant share. Over the course of the projected period, this segment is also anticipated to experience significant expansion.

Based on the test type, the Allergy Diagnostics market is segmented into in vivo tests and in vitro tests. The in vivo tests segment accounted for the largest share of the Allergy Diagnostics market in 2023. This market's growth is primarily being driven by its affordability, ease, and preference as the first line of diagnosis for allergies. Comparing these tests to in vitro tests, the former is more reliable and secure.

Based on the end user, the Allergy Diagnostics market is segmented into diagnostic laboratories, hospital-based laboratories & clinics, academic research institutes, and other end users. The hospital-based laboratories & clinics segment accounted for the largest share of the market in 2023. The majority of in vivo tests being performed in clinics and hospital-based labs, the desire for a correct diagnosis from a specialist, and raising awareness about the management of allergy illnesses are the main reasons for the segment's size.

Based on the region segmentation, the Allergy Diagnostics market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2023, North America accounted for the largest share of the global Allergy Diagnostics market. The rising number of government and association-sponsored supportive programs, the attractive payment scenarios for allergy diagnosis, and the increasing frequency of food allergies are the main reasons contributing to North America's big share.

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Prominent Players of Allergy Diagnostics Market

  • Thermo Fisher Scientific Inc., (US)
  • Siemens Healthineers (Germany)
  • Danaher (US)
  • Minaris Medical America, Inc. (US)
  • Omega Diagnostics Group PLC (UK)
  • bioMérieux SA (France)
  • Romer Labs Division Holding (Austria)
  • EUROIMMUN Medizinische Labordiagnostika AG (Germany)
  • HollisterStier Allergy (US)
  • Eurofins Scientific (Luxembourg)
  • Stallergenes Greer (UK)
  • HOB Biotech Group Corp., Ltd. (China)
  • HYCOR Biomedical (US)
  • R-Biopharm AG (Germany)
  • AESKU.GROUP GmbH (Germany)
  • ACON Laboratories, Inc. (US)
  • Lincoln Diagnostics, Inc. (US)
  • Astra Biotech GmbH (Germany)
  • Erba Group (UK)
  • Biopanda Reagents (UK)
  • Bioside S.r.l. (Italy)
  • Creative Diagnostic Medicare Pvt. Ltd. (India)
  • DST Diagnostische Systeme & Technologien GmbH (Germany)
  • Dr. Fooke Laboratorien GmbH (Germany)
  • and Among others

This research report categorizes the Allergy Diagnostics market into the following segments:

Regional Split

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Type Split

  • Consumables
  • Instruments
  • Services

Test Type Split

  • In Vivo Tests
  • In Vitro Tests

Allergen Split

  • Inhaled Allergens
  • Food Allergens
  • Drug Allergens
  • Other Allergens

End-user Split

  • Hospitals-Based Laboratories & Clinics
  • Diagnostic Laboratories
  • Academic Research Institutes

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Key Market Stakeholders:

  • Senior Management
  • Finance/Procurement Department
  • Doctors/Allergists
  • Researchers
  • Technicians
  • End Users/Operators

Report Objectives:

  • To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
  • To define, describe, segment, and forecast the Allergy Diagnostics market by product & service, test type, allergen, end user, and region.
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall Allergy Diagnostics market
  • To forecast the size of the Allergy Diagnostics market in five main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa.
  • To profile key players in the Allergy Diagnostics market and comprehensively analyze their core competencies and market shares
  • To track and analyze competitive developments, such as acquisitions; product launches; expansions; collaborations, agreements, & partnerships; and R&D activities of the leading players in the Allergy Diagnostics market.
  • To benchmark players within the Allergy Diagnostics market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy

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