Inclination toward Molecular Approach to Boost Growth of Global Allergy Diagnostics Market

Allergy diagnostics comprise tests and products that are utilized for determining the dominance of allergens such as drugs, milk, peanuts, weed, grass, etc. within the samples for getting knowledge regarding the presence of antibodies made by the immune system. The global allergy diagnostics market stood at US$1.3 bn in 2015 and is predicted to touch US$3.8 bn by 2024, rising at a healthy 12.80% CAGR between 2016 and 2024. 

Transparency Market Research (TMR), a market intelligence company, highlights the key forces impacting the market dynamics coupled with a subsequent evaluation of the trends influencing the global allergy diagnostics market. The leading product segment in the market and insights on its position in the coming years also form an integral part of this study.

Research Report:

Q. Which forces will positively influence the growth of the global allergy diagnostics market?

The rising occurrence of different allergies and the introduction of cutting-edge technologies for the diagnosis of allergens will provide impetus to the development of the global allergy diagnostics market. In addition, the increasing healthcare expenditure globally and the rising occurrence of genetic factors causing allergies will also positively impact the development of the market. Furthermore, a number of climatic changes taking place globally has also emerged as a key factor causing various kinds of allergies, thus driving the growth of the overall market. 

The inclination toward molecular approach in case of allergy diagnostics has emerged as a prime opportunity in the growth of the market. Moreover, various top manufacturers are indulging in conducting numerous research and development activities for the development of more effective automated systems, optimized allergens, and diagnostic techniques. On the other hand, obstacles encountered in the quality control of allergic test results in some of the nations may emerge as roadblocks in the growth of the market for allergy diagnostics.

Q. Which product segment and allergen type will drive the growth of the allergy diagnostics market and why?

In terms of product, the segment of consumables led the market in 2015 and is poised to maintain its superiority all through 2024. The reason for the superiority of this segment is the economical cost and huge volume of consumables such as pipettes and reagents. In terms of allergen type, the segment of inhaled allergens held the dominant share in the market in 2015. The increasing smoking of tobacco and the growing preference given to hygiene, particularly in western nations will boost the growth of the segment of inhaled allergens. In addition, the change in climatic conditions resulting in longer and stronger pollen seasons and the rising air pollution will also drive the growth of the segment for inhaled allergens.

On the other hand, the segment of food allergens will also experience growth due to the rising consumption of processed and packed foods and the transforming food habits of individuals globally. 

Q. Which is the most dominant geographical segment in the market and why?

In 2015, the North America allergy diagnostics market emerged as the most top market and held a share of over 40%, with U.S. being the most dominant nation.  The absence of exposure to allergens in previous stages due to the increasing hygiene levels in advanced nations will result in the increasing occurrence of inhaled allergies in the U.S. On the other hand, Europe also emerged as a key allergy diagnostic market in the same year, whereas Asia Pacific is expected to rise at a remarkable growth rate in the coming years due to the increasing occurrence of food allergies in this region. 

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