Allergy Diagnostics And Therapeutics Market to Witness Significant Growth at a CAGR of over 12% by 2022 | Hexa Research

October 18 20:16 2017

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The growth of “Allergy Diagnostics And Therapeutics Market” is fueled by the rise in the number of children below 14 years of age who are at greater risk of developing allergic diseases and disorders.

The global Allergy Diagnostics And Therapeutics Market is anticipated to grow at a CAGR exceeding 12% during the forecast period (2016 to 2022). This attributes to the problem of environmental pollution and high incidence of allergic diseases. The probability of children below 14 years of age being afflicted with chronic allergies is a prominent factor that fuels industry demand. Frequent need for in-vitro blood tests may drive this market over the forecast period. Widespread adoption of diagnostics for treating inhaled allergies caused by air pollution could significantly contribute to demand. Nowadays, people are highly susceptible to allergies because of changing lifestyles, unhealthy dietary patterns, and urbanization.

The worldwide allergy diagnostics and therapeutics market is categorized on the basis of products, type of allergens, end uses, tests, drug classes, and geographies. On the basis of products, the segments are services, consumables, and instruments. Immunoassay analyzers, luminometers, and other diagnostic devices are few of the commonly used equipment. Popularity of immunoassay analyzers is by far the highest in most developing economies of the world. Various types of allergens are drug allergens, inhaled allergens, food allergens, and others. Inhaled allergens held the highest industry share over the past couple of years because of numerous cases of air pollution based allergies.

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Based on end uses, the industry is trifurcated into diagnostics laboratories, and academic research institutes. Types of tests mainly include the following: in-vitro, patch, intradermal, skin prick, and in vivo. As per drug classes, the divisions are immunotherapy, autoinjectable epinephrine, immunomodulators, decongestants, nasal anticholinergics, leukotriene inhibitors, mast cell stabilizers, corticosteroids, and antihistamines.

Geographically, the worldwide allergy diagnostics and therapeutics market is divided into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Over the past couple of years, North America has been dominating the global market in terms of revenue earnings. The region may continue leading the industry over the forecast period. Growing acceptance of in vitro blood tests, awareness about allergy diagnostics, and rising cases of allergic respiratory anomalies are drivers of this region.

Europe is expected to register a high rate of growth because the region boasts of a mature pharmaceuticals industry. Surging demand for therapeutics is also a prominent regional driver. Other factors are rising cases allergic conditions and a rapidly expanding geriatric population. Asia Pacific may expand rapidly till 2022 owing to a rapidly developing medical infrastructure and surging demand for minimally invasive diagnostics solutions.

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The global allergy diagnostics and therapeutics market is a highly fragmented one with a host of companies continuously striving towards larger market shares. Lincoln Diagnostics, Siemens Healthcare, Hitachi Chemical Diagnostics, Alcon Laboratories, and Hycor Biomedical are some of the prominent competitors operating in the global market.

In May 2016, Thermo Fisher Scientific licensed ProBioGen AG’s GlymaxX® technology for the development of allergy diagnostics. ProBioGen AG is a Germany based CDMO (contract development and manufacturing organization) & technology provider. Its key areas of focus are GMP production of biopharmaceuticals, process development, and cell lining engineering. The GlymaxX® technology yields antibodies with lower fucose content, is applicable to different types of species, needs no culture additives, and can even lead to enhanced productivity.

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