July 21, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Allergy Diagnostics Market.
It was estimated prior to this unanticipated outbreak that the Allergy Diagnostics Market is likely to witness an impressive CAGR of 11.0% during the forecast period. High incidence of allergic diseases, rising levels of environmental pollution, increased funding for allergy diagnostics by organizations, and increasing access to healthcare insurance are some of the major factors accelerating the growth of the market during the forecast period.
Market Scope & Segmentation
Allergy diagnostics are performed to identify allergens like mold, bee stings and peanuts, pet dander, which can cause allergies. An allergy is an immune system hypersensitivity disorder. Allergic reactions occur when a person's immune system reacts to harmless substances in the environment known as allergens.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Segments' Analysis
Based on the product & service type, the market is segmented as consumables, instruments, and services. The consumables segment is expected to capture the major share of the market during the forecast period. The growing prevalence of allergies and the need for rapid tests to diagnose allergic conditions can be attributed to the dominance of the consumables segment.
Based on the test type, the market is segmented as in vivo tests and in vitro tests. In vivo tests are estimated to hold the major share of the market during the forecast period on account of the growing adoption of various in vivo tests, such as skin prick tests, as these in vivo tests are safe, cost- effective, and more convenient as compared to in vitro tests.
Based on the end-user type, the market is segmented as diagnostic laboratories, hospital-based laboratories, academic research institutes, and other end-users. Diagnostic laboratories are estimated to hold the major share of the market during the forecast period on account of growing awareness among consumers regarding the management of allergic diseases, preference for proper diagnosis from specialists, and the availability of funds for the operation of independent diagnostic laboratories.
In terms of regions, North America is estimated to be the dominating region in the market over the forecast period on account of favorable regulations and initiatives by associations, increasing incidences of allergies, and favorable reimbursement conditions for allergy diagnosis, all of which are fueling the regional market growth. Furthermore, Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
The key players in the market are:
- Danaher Corporation
- Eurofins Scientific
- Euroimmun Medizinische Labordiagnostika AG
- HollisterStier Allergy
- Minaris Medical America, Inc.
- Neogen Corporation
- Romer Labs Division Holding GmbH
- Siemens Healthineers AG
- Stallergenes Greer Ltd.
- Thermo Fisher Scientific.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Allergy Diagnostics analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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