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Allergy Diagnostics and Treatment Market:Executive Summary
The global Allergy Diagnostics And Treatment market size is predicted to cross USD 52 million by the end of 2025. Besides, the market experts have suggested that during the forecast period, the market will grow at around 7 percent of the Compound Annual Growth Rate. The rising prevalence of various allergic conditions, along with the increasing adoption of immunoassay as a diagnostic test, is forecasted to offer the global market many opportunities to grow at the highest rate. The rising cased of allergy is also expected to trigger market growth.
As per the report published in the World Allergy Journal, about 300 million incidents of asthma and around 250 million cased of food allergies were reported in May 2014. This number is now increasing at a moderate rate due to poor dietary habits and changing lifestyles. This, in turn, will create a huge demand for advanced Allergy Diagnostics And Treatment. So, this will influence the growth of the market in a positive way. Rising pollution from industrial sectors, growing urbanization in various developing countries, and expanding CHG- Greenhouse Gas concentrations will increase the prevalence of the respiratory disorder.
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This is greatly boosting the overall growth of this market across the globe. On the other side, the emergence of technologically advanced products, for example, MeDALL allergen-chip to determine the allergy, is further projected to drive the growth of this market. However, the high cost of diagnostics and treatment products can hamper the growth of this market across the world in the coming years. However, the technological advancement in this segment has helped the key manufacturers to come up with new and advanced treatment options.
Market Segment Overview
The global market for Allergy Diagnostics And Treatment is segmented on the basis of product type, application, and the regions. On the basis of product type, its segmented into assay kits, services, and consumables. Among these segments, the assay kits market segment is expected to dominate the product type segment during the forecast period. The reason is the growing usage of such products. However, consumables products are also driving market growth. Now, based on application, it is split into drug allergen, food allergen, inhaled allergen, and others. The food allergen segment is expected to anticipated to witness maximum market share in terms of revenue in the coming years.
Geographical Market Segmentation Overview
The global market, on the basis of region, is segmented into the Middle East & Africa, Western Europe, Eastern Europe, South America, Asia Pacific, and North America. Furthermore, the market is also segmented on the basis of countries. It is divided into Russia, the United Kingdom, the US, Japan, Iraq, China, Southeast Asia, Korea, the United States, South and North Africa, India, Mexico, Italy, Germany, France, Canada, and more. As per the report, North America’s regional market is expected to dominate the market during the forecast period. In this region, the demand for allergic treatment is quite high, owing to rising cased of respiratory and food allergic.
Industry News
In 2015, Stallergenes got approval to market its STG 320 product in Japan. This is the first sublingual immunotherapy tablets which is used to treat the allergy caused by house dust.
In September 2019, Alcon Introduced its new iLUX Patient Care Kits along with the Systane Family of Products. Besides, the company is also working on a new product to treat food allergies.
Continuous…
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