Reports And Data

Demand for Allergy Diagnostics and Therapeutics in the healthcare industry.

NEW YORK, NY, UNITED STATES, December 3, 2021 /EINPresswire.com/ -- The global Allergy Diagnostics and Therapeutics market is forecast to reach USD 54.71 Billion by 2028, according to a new report by Reports and Data. This is mainly contributed by the increase in the prevalence of allergies among the population. The technological advancements in the healthcare industry coupled with the changing lifestyle and food habits of the major population will drive the growth of the market. These allergic diseases can occur at almost any age, though some allergies are most likely to develop for the first time in particular age groups, especially in the geriatric population.

Moreover, the increase in the aged population as well as the growing prevalence of respiratory diseases, due to increasing pollution and CO2 emissions, are some of the other factors that will fuel the growth of the market. However, expensive equipment and the lack of awareness regarding ailments for allergic diseases is projected to restrain the growth of the market.

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Some of the key companies operating in the global Allergy Diagnostics And Therapeutics market are:

Omega Diagnostics, Thermo Fisher Scientific, Stallergenes Greer, Siemens Healthcare, bioMerieux, Lincoln Diagnostics, Alcon Laboratories, HOB Biotech Group, Hycor Biomedical, and Hitachi Chemical Diagnostics, among others.

The pharma and healthcare sector is rapidly growing in the recent past and is expected to register substantial revenue share over the forecast period of 2028. Factors such as technological developments in the healthcare and pharma field, improving healthcare infrastructure and increasing healthcare expenditure are key factors boosting market growth. The market dynamics have completely changed after the outbreak of COVID-19 pandemic. Increasing prevalence of various chronic diseases, high occurrence of diabetes, cancer and cardiovascular disorders and rising number of accidents across the globe are fueling growth of the global Allergy Diagnostics And Therapeutics market. In addition, increasing investments in research and development activities, high adoption of personalized medicines and ongoing research on drug discovery are further boosting market growth.

The report is curated using extensive primary and secondary research which is thoroughly evaluated by industry experts and professionals. Advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, and investment return analysis are used to obtain the report data. This data is represented through various diagrams, graphs, tables, and charts to help the reader understand the market dynamics accurately. The report also provides information about each market player, its global position, business expansion plan financial status, license agreement, and product and services portfolio.

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Further key findings from the report suggest

• The market is segmented on the basis of product into instruments, consumables, and services.

• The consumables segment accounts for the largest market share of ~50% in the year 2020 and is forecasted to witness the highest growth rate of 5.5% during the forecast period. The advancements in the healthcare and pharmaceuticals industry to detect allergic diseases in patients is the factor driving the growth of the segment.

• For instance, assay kits are necessary and readily available consumables, used in life science research, drug discovery & development, and environmental monitoring.

• The market is segmented on the basis of allergen type into food, inhaled, and drug.

• The inhaled allergen type accounts for the largest market share of ~50% in the year 2020 and is also forecasted to witness the highest growth rate of 5.8% during the forecast period.

• The increasing population and carbon dioxide emission, leading to increasing cases of respiratory allergies, will drive the growth of this segment.

• The market is segmented on the basis of test type into in vivo and in vitro.

• The in vivo test accounts for a larger market share of ~60% in the year 2020.

• In vivo tests are widely used by healthcare and research industries since they are able to simulate realistic and clinically relevant test environment and conditions.

• The market is segmented on the basis of drug class into antihistamines, corticosteroids, mast cell stabilizers, leukotriene inhibitors, nasal anticholinergics, decongestants, immunomodulators, autoinjectable epinephrine, and immunotherapy.

• The antihistamines drug class accounts for the largest market share of ~20% in the year 2020.

• Antihistamines are used to treat allergic diseases, especially rhinitis. It is an inexpensive, and generic drug that provides relief from nasal congestion, sneezing, or hives caused by pollen, dust mites, or animal allergy.

• The market is segmented on the basis of end users into academic research institutes, hospitals, and diagnostic laboratories.

• The diagnostic laboratories account for the largest market share of ~52% in the year 2020, owing to the growing prevalence of allergic diseases and the need for proper treatment and detection of those diseases.

• The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America, and MEA.

• The Asia Pacific region is forecasted to witness the highest growth rate of 5.8% during the forecast period owing to developing healthcare & pharmaceutical industry in this region.

• Asia Pacific has been adopting and advancing itself in terms of technology, owing to the growing population; rise in the number of people suffering from allergic and respiratory diseases, and the need for better diagnostic methods.

• The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.

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For the purpose of this report, Reports and Data have segmented global Allergy Diagnostics and Therapeutics Market on the basis of product, allergen type, test type, drug class, end user, and region:

Products Outlook (Revenue, USD Billion; 2020-2028)

• Instruments
• Consumables
• Services

Allergen type Outlook (Revenue, USD Billion; 2020-2028)

• Food
• Inhaled
• Drug

Test type Outlook (Revenue, USD Billion; 2020-2028)

• In Vivo
• In Vitro

Drug class Outlook (Revenue, USD Billion; 2020-2028)

• Antihistamines
• Corticosteroids
• Mast Cell Stabilizers
• Leukotriene Inhibitors
• Nasal Anticholinergics
• Decongestants
• Immunomodulators
• Autoinjectable Epinephrine
• Immunotherapy

End users Outlook (Revenue, USD Billion; 2020-2028)

• Academic Research Institutes
• Hospitals
• Diagnostic Laboratories

Regional Outlook:

• North America (U.S., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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