A recent report published by Infinium Global Research on allergy diagnostics market provides in-depth analysis of segments and sub-segments in the global as well as regional allergy diagnostics market
Pune, India -- (SBWIRE) -- 01/23/2020 -- A recent report published by Infinium Global Research on Allergy Diagnostics Market (Type - Food Allergen, Inhaled Allergen, Drug Allergen, and Others; Product Type - Consumables, Assay Kits, and Instruments; End User - Hospitals, Laboratories, and Academics): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025. According to the report, the global allergy diagnostics market is projected to grow at a CAGR of 9.15% over the forecast period of 2019-2025.
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The global allergy diagnostics market is expected to grow with CAGR of 15% from the year 2018-2023, this is due to the increased number of cases globally provoking allergies diagnosis market. Allergies are hypersensitive responses from the immune system to substances (allergen) that either enter or come into contact with the body. An allergen is a usually harmless substance that is capable of triggering a response that starts in the immune system and results in an allergic reaction.
Increased Demand for Accurate Diagnostic Tests Contributing to the Growth of the Market
The increasing burden of allergic diseases coupled with changing lifestyles of people is expected to boost the allergy diagnostic market globally, according to the CDC report More than 50 million Americans suffer from allergies each year. Rising Environmental Pollution Levels, unhealthy food intake results in increased allergy cases. Furthermore, High Incidence and huge Economic Burden of Allergic Diseases and increased demand for accurate diagnostic tests contributing to the growth of the market. However, less awareness related to allergic diseases, concerns related to the affordability of allergy diagnostics instruments in several small clinics can hamper the growth of the market. On the other hand presence, few players in the market provide ample opportunity for new investors with cost-efficient diagnosis tools in the market.
Assay Kits Hold a Considerable Share in the Market
The allergy diagnostics market is segmented by allergen type, product type, and end-user. Allergen types are categorized into inhaled allergens, food allergens, drug allergens, and others. Inhaled allergens accounted for the sizeable share of the global allergy diagnostics market this is mainly due to increasing air pollution levels across the globe. Based on the Product type the segment divided into Assay Kits, Instruments, and Services. Assay kits hold a considerable share in the market, easy availability and significant use of assay kits in allergy testing. The end-user segment sub-segmented into diagnostic laboratories, hospital-based laboratories, academic research institutes, and others. Increased number of diagnostic centers with sophisticated facilities and increasing preference towards diagnostic centers for allergy test dominates diagnostic laboratories in the global market.
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Allergy Diagnostics Market: Regional Analysis
Geographically allergy diagnosis markets divided into North America, Europe, Asia-Pacific, Latin America, and RoW. North America holds the largest share in the global allergy diagnostics market, factors like the rising number of allergy cases, use of advanced diagnostic technologies contributing to the growth of the market in this region. Asia Pacific region anticipated to register high growth during the forecast period, increased number of hospitals and diagnostic laboratories, large patient pool and growing healthcare expenditure are the reasons for the growth of the market in this region.
Allergy Diagnostics Market: Competitive Analysis
Some of the leading players in the allergy diagnostic market are Thermo Fischer Scientific, Inc., Quest Diagnostics, Inc., BioMerieux SA, Omega Diagnostics Group Plc., Siemens Healthineers, Lincoln Diagnostics, Inc., Hitachi Chemical Diagnostics, Inc., stallergenes greer plc, Hycor Biomedical Inc., Hob Biotech Group Co. Ltd.
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About Infinium Global Research
The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The allergy diagnostics market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the allergy diagnostics market.