Dublin, May 16, 2024 (GLOBE NEWSWIRE) -- The "Global Allergy Diagnostics Market by Product & Service (Consumables, Instruments (Immunoassay Analyzer, Luminometer), Services), Test Type (In Vivo (Skin Prick, Patch), In Vitro), Allergen (Food, Inhaled, Drug), End User, & Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Allergy Diagnostics market is projected to reach USD 9.8 billion by 2029 from USD 5.3 billion in 2024, at a CAGR of 11% during the forecast period. The growth of this market is majorly driven by rise in awareness program by government and associations, growing allergy research, and rise in innovative technologies for allergy diagnosis. However, a smaller number of allergists and poor implementation of allergy testing methods could restrain the growth of the Allergy Diagnostics market. 
Consumables segment accounted for the highest market share in the Allergy Diagnostics market, by product & service, during the forecast period.
Based on product & service, the Allergy Diagnostics market is segmented into consumables, instruments, and services. In 2023, the consumables segment accounted for the largest share of the Allergy Diagnostics market. Growing prevalence of allergies including inhaled and food allergies and emergence of local players in in vivo test kits to drive the market of this segment during the forecast period. This segment is also anticipated to witness substantial growth over the projected period.
In Vivo type of tests accounted for the larger market share in the Allergy Diagnostics market, by test type, during the forecast period.
The Allergy Diagnostics market is segmented into in vivo tests and in vitro tests based on test type. The in vivo tests segment accounted for the largest share of the Allergy Diagnostics market in 2023 and is also projected to acquire highest CAGR during the forecast period. The growth of in vivo test segment is majorly driven by the increase in demand for point-of care testing and growing awareness about allergic symptoms and need for getting tested.
Hospital-based laboratories & clinics accounted for the highest CAGR during the forecast period.
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. In 2023, the hospital-based laboratories & clinics segment accounted for the largest share of the market. The clinics' significant end-user standing for in vivo allergy testing and their convenience in terms of allergy management and treatment options are the main reasons for their substantial market share.
The North America segment accounted for the highest market share in the Allergy Diagnostics market, by region, during the forecast period.
Based on the region, the Allergy Diagnostics market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America region accounted for the largest share of the global Allergy Diagnostics market in 2023. This large share of North America is due to the growing incidence of food and respiratory allergies, rise in agreement for awareness between government and associations, and presence of major players in the region.
The report provides insights on the following:
- Analysis of key drivers (global rise in prevalence and heavy economic burden of allergic illnesses, growing environmental pollution, and insurance coverage), restraints (high costs of analyzers and access is limited to healthcare services), opportunities (use of mHealth and integration of AI in allergy diagnosis), and challenges (a few number of allergists and challenges during diagnosis of allergy) influencing the growth of the Allergy Diagnostics market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Allergy Diagnostics market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the Allergy Diagnostics market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Allergy Diagnostics market
- Competitive Assessment: In-depth assessment of market ranking, growth strategies, and service offerings of leading players like Thermo Fisher Scientific Inc., (US), Siemens Healthineers AG (Germany), Danaher (US), and Canon, Inc. (Japan) [Minaris Medical America, Inc. (US)], among others in the Allergy Diagnostics market strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 294 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $5.3 Billion |
| Forecasted Market Value (USD) by 2029 | $9.8 Billion |
| Compound Annual Growth Rate | 11.0% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Allergy Diagnostics Market, by Product & Service, 2024 vs. 2029 (USD Billion)
- Allergy Diagnostics Market, by Test Type, 2024 vs. 2029 (USD Billion)
- Allergy Diagnostics Market, by Allergen, 2024 vs. 2029 (USD Billion)
- Allergy Diagnostics Market, by End-user, 2024 vs. 2029 (USD Billion)
- Regional Snapshot of Allergy Diagnostics Market
Premium Insights
- Allergy Diagnostics Market Overview - Increasing Number of Government Initiatives and Investments to Drive Market
- Asia-Pacific: Allergy Diagnostics Market, by Allergen and Country (2023) - China and Inhaled Allergens Accounted for Largest Market Share in 2023
- Allergy Diagnostics Market: Geographic Growth Opportunities - China to Register Highest Growth Rate During Study Period
- Allergy Diagnostics Market: Regional Mix - Asia-Pacific to Witness Fastest Growth During Forecast Period
- Allergy Diagnostics Market: Developed vs. Emerging Economies - Emerging Economies to Register Higher Growth Rates During Forecast Period
Market Dynamics
Drivers
- High Incidence and Heavy Economic Burden of Allergic Diseases
- Increasing Awareness About Allergies
- Rising Environmental Pollution Levels
- Increased Funding for Allergy Diagnostics
- Coverage of Allergy Diagnosis Under Health Insurance Schemes
Restraints
- Premium Cost of Allergy Diagnostic Instruments
- Lack of Adequate Knowledge and Poor Implementation of Allergy Testing Methods
- Limited Access to Healthcare Services
Opportunities
- Use of Mhealth in Allergy Diagnosis
- Integration of Artificial Intelligence in Allergy Diagnosis
Challenges
- Shortage of Allergists and Lack of Training Programs
- Diagnostic Challenges in Allergic Patients
Trends
- Rising Use of Reagent Rental Agreements and Cost-Per-Test Contracts
- Increasing Use of Molecular Diagnostics and Point-Of-Care Allergy Testing
Companies Featured
- Danaher Corporation
- Thermo Fisher Scientific Inc.
- Canon, Inc.
- Siemens Healthineers AG
- Eurofins Scientific
- Revvity, Inc.
- Biomerieux SA
- Stallergenes Greer Ltd.
- Romer Labs Division Holding GmbH
- Hollisterstier Allergy
- Omega Diagnostics Group PLC
- Hob Biotech Group Corp. Ltd.
- Hycor Biomedical
- Lincoln Diagnostics, Inc.
- R-Biopharm AG
- Astra Biotech GmbH
- Erba Group
- Aesku.Group GmbH
- Acon Laboratories, Inc.
- Alcit India Pvt. Ltd.
- Biopanda Reagents Ltd.
- Bioside S.R.L.
- Creative Diagnostic Medicare Pvt. Ltd.
- Dst Diagnostische Systeme & Technologien GmbH
- Dr. Fooke Laboratorien GmbH
For more information about this report visit https://www.researchandmarkets.com/r/km40wa
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