Allergy Rapid Test Market

Allergy Rapid Test Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Global Allergy Rapid Test Market: Introduction

Allergy is defined as a hypersensitivity reaction proceeded by immunological mechanisms of an individual’s body system. Allergy can be cell-mediated or antibody-mediated. In most of the cases, antibody Immunoglobulin E-IgE isotype is responsible for allergic conditions and reactions on the body. This is referred as IgE-mediated allergy. Atopic diseases considered as hyper reaction in the target whether skin, organ, nose, gastrointestinal tract or lung. This reaction (allergy) may include both the antibodies non-IgE-mediated and IgE mediated. The condition is a major concern for individuals because the allergen could increase target organ hyper-responsiveness, resulting in exaggerated symptoms on exposure to non-specific irritants (tobacco smoke, changes in temperature, etc.) in allergic subjects. Only a small percentage of atopic individuals develop the disease. Prevalence rate of allergies in several countries ranges from 7.5% to 40% (mean 22%).

Global Allergy Rapid Test Market: Competitive Landscape

Siemens Healthineers Ltd.

Siemens Healthineers Ltd. is a global provider of health care solutions and services. The company develops, manufactures, and provides a range of market-leading and innovative imaging, diagnostic, and advanced therapy products and services to health care providers across the world. Siemens Healthineers is also developing its digital health and enterprise services. The company operates through three major segments: diagnostics, advanced therapies, and imaging. The imaging segment offers products and services in computed tomography, magnetic resonance, ultrasound, X-ray systems, and molecular imaging. Siemens Healthineers Ltd. was listed on the Frankfurt Stock Exchange on March 16, 2018, with Siemens AG holding 85.0% stake.

Danaher Corporation

Danaher Corporation is a global leader in the life science industry. The company develops, manufactures, and markets a broad range of products, services, and technologies in various life sciences and health care domains. It operates through four business segments: diagnostics, life sciences, dental, and environmental & applied solutions. The diagnostics and life science business segments comprise nine leading companies: Cepheid, Beckman Coulter, HemoCue, Leica Biosystems, Radiometer, Sciex, Molecular Devices, Pall Corporation, and Phenomenex.

Thermo Fisher Scientific, Inc.

Thermo Fisher Scientific is a global leader in development, manufacturing, and commercialization of life sciences products for the health care, pharmaceutical & biotechnology, and life sciences industries. Thermo Fisher Scientific, Inc. operates through four segments: specialty diagnostics, analytical instruments, life sciences solutions, and laboratory products and services. The specialty diagnostics segment offers a wide range of instruments, kits, and reagents for customers in health care, academic institutes, and other service providers. The segment comprises clinical diagnostics, immunodiagnostics, microbiology, and other businesses. Thermo Fisher Scientific offers products and services to more than 400,000 customers across the globe.

Global Allergy Rapid Test Market: Dynamics

Rise in Demand for Allergy Rapid Tests

The incidence and prevalence of allergies has been increasing across the globe. Allergy care are unable to address this increase in demand. Untreated or poorly treated allergic conditions can have a high psychosocial impact on individuals and place a substantial economic burden on health care services. There is a high degree of heterogeneity and inequity in the availability of services across the world.

Stringent Regulatory Environment

There are potential issues with clinical governance and confidentiality. Lack of adequately trained specialists can affect implementation of these measures. The ‘allergy epidemic’ 13 has surprised unprepared health systems globally. There has been failure on the part of governments and stakeholders to acknowledge the rapid rise in allergies.

High Cost of Rapid Tests due to Expensive Testing Equipment

High cost of the treatment and requirement of a second surgical procedure for removal of internal distractors are expected to restrain the global allergy rapid test market during the forecast period.

Lack of Political Engagement and Reluctance to Allocate Funds to Improve Allergy Services

Studies have shown that effective allergy services can not only improve quality of life, but can also be cost-saving. Hence, there is a need to impress on policymakers the importance and wisdom of investing in the improvement of allergy services. There is currently no agreement on how allergy services should be structured. Despite increasing demand, allergy services and training remain poor. There are dedicated allergy services in public hospitals for adults. Laboratory support for allergy and immunology is inadequate.