Allergy Diagnostics and Therapeutics Market Analysis and Professional Outlook 2021 – Danaher Corporation, Thermo Fisher Scientific

The Global Allergy Diagnostics and Therapeutics Market size is estimated to be USD 34.08 billion in 2019 and is predicted to reach USD 63.36 billion by 2030 with a CAGR of 5.8% from 2020-2030.

Worldwide, number of people are affected with allergic diseases such as anaphylaxis, food allergies, forms of asthma, conjunctivitis, eczema, eosinophilic disorders, and drug & insect allergies. The incidences and prevalence of these diseases are increasing significantly, particularly in the low and middle income economies. Thus, especially in children and young adults the severity and complexity of allergic diseases continue to increase, who are bearing the greatest burden of these trends. It is essential for patients to receive an accurate diagnosis and treatment.

The social and economic impact of allergic diseases is large, including costs of health care, lost work and school hours, and lower quality of life. According to the data published in World Allergy Organization Journal in 2015, globally 300 million people suffer from asthma and about 200 to 250 million people suffer from food allergies. 400 million of the population suffers from rhinitis and one tenth from drug allergies. This large number of people suffering with allergic infections drives the demand for appropriate and affordable diagnostic and therapeutic alternatives.

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Top Companies: bioMerieux, Danaher Corporation, Thermo Fisher Scientific, Staller genes Greer, Hitachi Chemical Diagnostics, Siemens Healthcare, Omega Diagnostics, Hycor Biomedical, Lincoln Diagnostics and others.

Market Dynamics and Trends:

The increase in the prevalence of allergies is observed as societies become more prosperous and urbanized. An increase in environmental risk factors like outdoor and indoor pollution like tobacco smoke combined with reduced biodiversity also contributes to this rise in prevalence. Apart from increasing prevalence and large economic burden of allergic conditions, changing lifestyle, increasing indoor and outdoor pollution, and development of technologically advanced diagnostic and therapeutic products are expected to fuel the growth of the market. However, lack of knowledge about products available, and affordability of the diagnostic instruments and tests can act as hindrances to the growth of this market.

In the field of Allergology, recombinant technology has brought tremendous advances in allergen characterization and vaccine development. These advances have brought improved opportunities for innovation in diagnostic and therapy of allergic diseases. In April 2018, Omega Diagnostics signed a global distribution deal for its allergy testing kits, writes Kevin Scott. Similarly, other companies and laboratories such as Omega Diagnostics, AllerGenis, and Well Source Nutraceuticals are collaborating and developing new techniques for diagnosis and treatment of allergic conditions. Such developments are expected to flourish in further technological innovations in allergy diagnostics and therapeutics market.

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Market Segmentations and Scope of the Study:

The global Allergy Diagnostics and Therapeutics Market share is analyzed on the basis of product, allergen type, test type, end users. On the basis of product, the Allergy Diagnostics and Therapeutics market is segmented into instruments, consumables and services. The allergen types include food allergens, inhaled allergens, drug allergen and others. Diagnostic tests covered in the report includes in vivo and in vitro tests. On the basis of end user the is segmented into diagnostic laboratories, hospitals, research laboratories and other end users. The allergy therapeutics market is segmented on the basis of the various drug class. The geographical segmentation covers North America, Europe, Asia Pacific, and Rest of the World.

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