Efforts by Various Organizations to Generate Awareness on Allergic Diagnostics Bodes Well for Market
At the forefront of driving growth in the global market for allergic diagnostics is obviously the increasing instances of ailments resulting from allergies. This, in turn, is a result of the surging pollution worldwide. The rising cases of allergies worldwide has warranted the need for better diagnostics procedures leveraging latest technologies.
Hampering the market, on the other hand, is the lack of knowledge about the various diagnostic procedures in inhabitants of developing and underdeveloped nations. Nevertheless, the market for allergic diagnostics is expected to grow at a healthy clip in the next couple of years because of the increasing initiatives by government and non-governmental organizations to generate awareness about the diagnosis and treatment of such conditions, and also because of the supportive reimbursement policies.
A recent report on the market for allergic diagnostics published by Transparency Market Research finds that it would rise at a solid 12.80% CAGR during 2016 and 2024. At this rate, the market’s projected worth would become US$3.8 bn by 2024-end, predicts the report.
Affordability of Consumables Results in their Higher Sales
Some of the key products in the market for allergic diagnostics are consumables, assay kits, and instruments. Among those, the segment of consumables far surpasses the other two vis-à-vis market share – at present it holds about half the share. Going forward too, it is expected to retain its leading position mainly because of high production volumes and the resulting lower costs.
Depending upon the type of allergens, the market is segmented into food allergens, inhaled allergens, drug allergens, and others. Of those, the inhaled allergens serve to generate maximum demand for allergic diagnostics.
The two prominent tests in the market for allergic diagnostics are in-vitro tests and in-vivo tests. Between them, the in-vivo tests is seeing greater traction because of their affordability, hassle-free procedures, and high degree of efficiency. In the near future too, the segment is expected to maintain its dominance.
Advanced Healthcare Infrastructure Promotes North America Market
North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa are the regions across which the market for allergic diagnostics is spread. Of them, North America leads the way owing to the superior healthcare infrastructure and high medical spends of people in the region, particularly in the U.S. and Canada. In addition, the increasing occurrence of allergies, high degree of awareness about them, and the effective medical reimbursement policies too have helped the market in the region. In the years ahead, the market in North America is expected to further grow its leading share owing to the thrust on cutting-edge research and development to come up with better methods.
Europe is another prominent region propelled by the increased spending capacity of people in the region along with the state-of-the-art healthcare facilities, supportive reimbursement policies, and continued research and development in the domain of medicine and treatments.
Some of the leading players operating in the highly consolidated market for allergic diagnostics include Stallergenes Greer, Omega Diagnostics Group Plc., Thermo Fisher Scientific Inc., Quest Diagnostics Inc., and BioMerieux.
Allergy Diagnostics Market: Scope and Methodology
Allergy diagnostics includes products and tests that are used to determine the presence of allergens such as grass, weed, peanuts, milk, or drugs etc. in the samples by determining the presence of antibodies developed by the immune system. The report on global allergy diagnostics market, analyzes the current and future prospects of the market. The report consists of an executive summary that provides information about the products, its segments and sub-segments, market opportunity analysis, along with a market snapshot and comparative analysis by geography, in terms of revenue %, for 2015.
A detailed overview of market dynamics, including the drivers, restraints, and opportunities of the allergy diagnostics market, along with porter’s analysis, and value chain analysis, of the global market, has been provided in this report. Market revenue analysis for all the above mentioned segments, and their sub segments has been provided for the forecast period of 2016-2024, considering 2015 as the base year, and 2014 as the historical year, along with compound annual growth rate (CAGR %), for the forecast period of 2016-2024. Market share estimations were based on in-depth analysis and study of products, and their features, prices etc.
This report provides in-depth analysis of the allergy diagnostics market. The stakeholders for this report include companies involved in the manufacturing of products for allergy diagnosis. For providing a snapshot of this market to the stakeholders, executive summary section is included in this report, which summarizes the market size, trends and competition in different regions. Market share analysis among the market players is analyzed to signify percentage share of the major players operating in the allergy diagnostics market. Furthermore, the report incorporates market attractiveness analysis by geography that depicts the most attractive and significant region in the global market in 2015.
The research methodology is a combination of primary and secondary research. Primary research includes information collected via e-mails, and telephonic interviews of Key Opinion Leaders (KOL), and forms the bulk of our research. Secondary research includes information collected from various sources, by study of company websites, annual reports, stock analysis presentations, press releases, and various national and international databases.
Allergy Diagnostics Market: Segmentation
Based on products, the global allergy diagnostics market has been segmented into assay kits, consumables and instruments. The instruments considered in the study include blot analyzers, luminometers, mass spectrometers, ELISA analyzers, immunoassay analyzers etc. Based on allergen type, the allergy diagnostics market is segmented into inhaled allergens, food allergens, drug allergens, and others. Based on tests, the allergy diagnostics market is segmented into In-vivo tests and In-vitro tests. Based on end users, the market is segmented as hospitals, diagnostic laboratories, academic research institutes, and others.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further segmented into major countries which include, U.S., Canada, Germany, U.K., France, Italy, Spain, rest of Europe, China, Japan, India, Australia, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, Saudi Arabia, South Africa, and Rest of Middle East & Africa.
Allergy Diagnostics Market: Competitive Landscape
The report also comprises list major players in the market, their SWOT analysis, market share of these players in the Allergy Diagnostics market, key business strategies, product portfolios, and recent developments. Key market players profiled in this report include, Thermo Fischer Scientific, Inc., Quest Diagnostics, Inc., BioMerieux SA, Stallergenes Greer, Omega Diagnostics Group Plc, Siemens Healthineers, and HAL Allergy group, among others.
The global allergy diagnostics market has been segmented as follows:
Global Allergy Diagnostics Market, by Product
- Assay Kits
Global Allergy Diagnostics Market, by Allergen Type
- Inhaled Allergens
- Food Allergens
- Drug Allergens
Global Allergy Diagnostics Market, by Tests
- In-vivo tests
- In-vitro tests
Global Allergy Diagnostics Market, by End-users
- Diagnostic Laboratories
- Academic Research Institutes
Global Allergy Diagnostics Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa