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.
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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.
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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.
Global Allergy Rapid Test Market: Segmentation
Based on product type, the global allergy rapid test market can be classified into:
- Food Allergen
- Hair Allergen
- Plant Allergen
In terms of end-user, the global allergy rapid test market can be divided into:
Based on age, the global allergy rapid test market can be categorized into:
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.