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Allergy Testing Products Market – By Product and Service, By Test Type, By Allergen, By End User, By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030
Allergy Testing Products Market Overview:
Allergy Testing Products Market size is estimated to reach $13 billion by 2030, growing at a CAGR of 12.8% during the forecast period 2024-2030. Allergy Testing Products are experiencing significant market growth primarily due to the rising awareness and prevalence of allergies, driving increased demand for accurate and accessible diagnostic solutions. The expansion of allergic conditions globally has prompted individuals to seek effective means of identifying and managing their allergies. Allergy testing products, ranging from at-home testing kits to advanced diagnostic tools offered by healthcare providers, cater to this growing demand for personalized allergy information.
The surge in demand for Allergy Testing Products can be attributed to advancements in diagnostic technologies which have led to the development of more accessible and user-friendly allergy testing products, allowing individuals to conduct tests at home or through simplified procedures. This convenience factor has significantly contributed to the increased adoption of allergy testing. Additionally, the expanding range of allergies being tested, including food, environmental, and respiratory allergies, caters to a broader spectrum of individuals concerned about their health. Increasing allergy cases also boosting the market growth. Allergy According to The Centers for Disease Control and Prevention (CDC), over 50 million people in America experience allergies every year, making it the sixth-most common cause of chronic illness in the country
Market Snapshot:
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Allergy Testing Products Market - Report Coverage:
The “Allergy Testing Products Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Allergy Testing Products Market.
| Attribute | Segment |
|---|---|
|
By Product and Service |
● Consumables ● Instruments ● Services |
|
By Test Type |
● In Vivo ● In Vitro |
|
By Allergen |
● Inhaled Allergens ● Food Allergens ● Drug Allergens ● Others |
|
By End User |
● Diagnostic Laboratories ● Hospitals and Clinics ● Academic Research Laboratories ● Others |
|
By Geography |
● North America (U.S., Canada and Mexico) ● Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), ● Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), ● South America (Brazil, Argentina, Chile, Colombia and Rest of South America) ● Rest of the World (Middle East and Africa). |
COVID-19 / Ukraine Crisis - Impact Analysis:
● The Allergy Testing Products industry experienced a noteworthy impact amid the COVID-19 pandemic. The disruptions in global supply chains, lockdown measures, and shifts in consumer priorities influenced the market dynamics. The pandemic prompted delays in manufacturing, distribution, and logistics, causing temporary shortages and affecting the availability of allergy testing products. Additionally, with healthcare resources redirected towards managing the crisis, routine medical services, including allergy testing, faced challenges. Despite these hurdles, the industry demonstrated resilience as the demand for at-home testing solutions increased.
● The Russia-Ukraine war has cast a ripple effect on the global business landscape, including the Allergy Testing Products industry. Supply chain disruptions and geopolitical uncertainties stemming from the conflict have led to challenges in the production and distribution of key components used in allergy testing kits. The industry, reliant on a complex network of international suppliers, is grappling with delays and increased costs, affecting both manufacturing timelines and product pricing. Furthermore, the economic repercussions of the conflict have prompted fluctuations in currency exchange rates, adding an additional layer of complexity for businesses operating in this sector.
Key Takeaways:
● Asia-Pacific to Register Highest Growth
Geographically, in the global Allergy Testing Products Market, Asia-Pacific is analyzed to grow with the highest CAGR of 13.5% during the forecast period 2024-2030. The Asia Pacific region has asserted itself as the vanguard of growth in the rapidly evolving field of allergy testing products. A confluence of factors propels this surge, including heightened awareness of allergic conditions, an expanding middle class, and advancements in healthcare infrastructure. Countries across the region are witnessing a paradigm shift in healthcare preferences, with an increasing focus on preventive measures and early diagnosis, thereby fueling the demand for cutting-edge allergy testing products. The burgeoning pharmaceutical and healthcare sectors in key economies, such as China, India, and Japan, are contributing significantly to the region's ascendancy. India’s public expenditure on healthcare touched 2.1 % of GDP in FY23 and 2.2% in FY22, against 1.6% in FY21, as per the Economic Survey 2022-23. Noteworthy is the collaboration and innovation within the local biotechnology and diagnostic companies, fostering the development of indigenous allergy testing solutions. Moreover, governments in the Asia Pacific are playing a pivotal role by implementing supportive policies, encouraging research and development, and ensuring regulatory frameworks are conducive to the growth of the allergy testing products market.
● In Vitro Segment to Register the Fastest Growth
In the Allergy Testing Products Market analysis, the In Vitro segment is estimated to grow with the highest CAGR of 13.8% during the forecast period 2024-2030. In the dynamic landscape of the Allergy Testing Products industry, In Vitro testing has emerged as the fastest-growing segment. This methodology, which involves conducting tests outside the living organism, has garnered significant attention and adoption due to its efficiency and accuracy. Unlike traditional in vivo testing, In Vitro methods offer a streamlined and controlled environment, allowing for precise examination of allergens and their effects. The appeal of In Vitro testing lies in its ability to provide rapid results, aiding healthcare professionals in swift diagnostic processes. The technology's versatility has contributed to its widespread integration across various healthcare settings, from clinics to research laboratories. The demand for In Vitro allergy testing products is propelled by their reliability, cost-effectiveness, and the reduction of ethical concerns associated with in vivo methods. In May 2023, Thermo Fisher Scientific, the world leader in serving science, announced it is making ImmunoCAPTM Specific IgE tests available to more patients across the U.S. The ImmunoCAP tests are now available to patients at all Kroger Health the Little Clinic LLC (“The Little Clinic”) locations, through a blood draw taken on site.
● Increasing Allergy Prevalence is Propelling the Market Growth.
The surging prevalence of allergies globally has emerged as a prominent market driver for the Allergy Testing Products Industry. The Centers for Disease Control and Prevention (CDC) estimates that over 50 million people in America experience allergies every year, making it the sixth-most common cause of chronic illness in the country. As more individuals experience allergic reactions, there is a growing need for accurate and timely diagnosis, propelling the demand for allergy testing products. The rise in allergic conditions, ranging from respiratory issues to food sensitivities, has prompted a significant shift towards proactive healthcare management, where individuals seek personalized solutions for their well-being. This increase in awareness and the prevalence of allergies not only amplifies the market's potential but also stimulates innovation in testing technologies to meet the evolving diagnostic needs. The healthcare sector is witnessing a paradigm shift as consumers prioritize early detection and management of allergies, creating a robust market for allergy testing products. Moreover, supportive regulatory frameworks and policies further facilitate the accessibility and availability of these products, contributing to the overall growth of the industry
● High Cost Associated with Testing Products Limiting the Market Growth.
The Allergy Testing Products Industry encounters a substantial challenge in the form of the high cost associated with testing products. This financial hurdle poses a significant barrier to both industry players and end-users alike. The intricate nature of allergy testing necessitates sophisticated technologies and precise methodologies, contributing to elevated production costs. Manufacturers grapple with the need for state-of-the-art equipment, cutting-edge diagnostic tools, and skilled personnel, all of which come at a premium. As a consequence, the end price of allergy testing products is often steep, impacting accessibility for a broader demographic. The elevated cost of these products not only affects consumers seeking allergy testing but also presents challenges for healthcare providers and institutions aiming to integrate comprehensive allergy diagnostics into their services. Furthermore, the financial strain on end-users is limiting widespread adoption, hindering the industry's growth potential.
Allergy Testing Products Market Share (%) By Region, 2023
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Allergy Testing Products Market. The top 10 companies in this industry are listed below:
1. Thermo Fisher Scientific Inc.
2. Siemens Healthineers
3. Danaher Corporation
4. BioMérieux
5. Hycor Biomedical Inc.
6. Omega Diagnostics
7. Minaris Medical America
8. Neogen Corporation
9. Lincoln Diagnostics, Inc.
10. HollisterStier Allergy
Scope of Report:
| Report Metric | Details |
|---|---|
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
CAGR |
12.8% |
|
Market Size in 2030 |
$13 billion |
|
Segments Covered |
Product and Service, Test Type, Allergen, End User and Region |
|
Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
|
Key Market Players |
1. Thermo Fisher Scientific Inc. 2. Siemens Healthineers 3. Danaher Corporation 4. BioMérieux 5. Hycor Biomedical Inc. 6. Omega Diagnostics 7. Minaris Medical America 8. Neogen Corporation 9. Lincoln Diagnostics, Inc. 10. HollisterStier Allergy |
Table of Contents
1. Allergy Testing Products Market - Overview
1.1 Definitions and Scope
2. Allergy Testing Products Market - Executive Summary
3. Allergy Testing Products Market - Comparative Analysis
3.1 Company Benchmarking
3.2 Global Financial Analysis
3.3 Market Share Analysis
3.4 Patent Analysis
3.5 Pricing Analysis
4. Allergy Testing Products Market - Start-up Companies Scenario
4.1 Key Start-up Company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Venture Capital and Funding Scenario
5. Allergy Testing Products Market – Industry Market Entry Scenario Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing Business Index
5.3 Case Studies of Successful Ventures
6. Allergy Testing Products Market - Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters Five Force Model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Allergy Testing Products Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. Allergy Testing Products Market Segment Analysis – By Product and Service
8.1 Consumables
8.2 Instruments
8.2.1 Immunoassay Analyzer
8.2.2 ELISA Analyzer
8.2.3 Luminometer
8.2.4 Others
8.3 Services
9. Allergy Testing Products Market Segment Analysis – By Test Type
9.1 In Vivo
9.2 In Vitro
10. Allergy Testing Products Market Segment Analysis – By Allergen
10.1 Inhaled Allergens
10.2 Food Allergens
10.3 Drug Allergens
10.4 Others
11. Allergy Testing Products Market Segment Analysis – By End User
11.1 Diagnostic Laboratories
11.2 Hospitals and Clinics
11.3 Academic Research Laboratories
11.4 Others
12. Allergy Testing Products Market Segment Analysis -By Geography
12.1 North America
12.1.1 U.S.
12.1.2 Canada
12.1.3 Mexico
12.2 Europe
12.2.1 U.K.
12.2.2 Germany
12.2.3 France
12.2.4 Italy
12.2.5 Spain
12.2.6 Russia
12.2.7 Rest of Europe
12.3 Asia-Pacific
12.3.1 China
12.3.2 India
12.3.3 Japan
12.3.4 South Korea
12.3.5 Australia & New Zealand
12.3.6 Rest of Asia-Pacific
12.4 South America
12.4.1 Brazil
12.4.2 Argentina
12.4.3 Chile
12.4.4 Colombia
12.4.5 Rest of South America
12.5 Rest of the World
12.5.1 Middle East
12.5.2 Africa
13. Allergy Testing Products Market - Entropy
14. Allergy Testing Products Market – Industry/Segment Competition Landscape
14.1 Market Share Analysis
14.1.1 Global Market Share – Key Companies
14.1.2 Market Share by Region – Key companies
14.1.3 Market Share by Countries – Key Companies
14.2 Competition Matrix
14.3 Best Practices for Companies
15. Allergy Testing Products Market – Key Company List by Country Premium
16. Allergy Testing Products Market - Company Analysis
16.1 Thermo Fisher Scientific Inc.
16.2 Siemens Healthineers
16.3 Danaher Corporation
16.4 BioMérieux
16.5 Hycor Biomedical Inc.
16.6 Omega Diagnostics
16.7 Minaris Medical America
16.8 Neogen Corporation
16.9 Lincoln Diagnostics, Inc.
16.10 HollisterStier Allergy
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