Allergy Diagnostics Market - Forecast to 2021 - New Market Research Report

Allergy Diagnostics Market by Product (Assay Kits, Instruments (Immunoassay Analyzer, Luminometer), Consumables, Services), Allergen (Food, Inhaled, Drug), Tests (In Vivo, In Vitro), End User (Hospital, Diagnostic Laboratory) - Forecast to 2021

The allergy diagnostics market is expected to reach USD 5.34 billion by 2021 from USD 2.98 billion in 2016, at a CAGR of 12.4%. The global allergy diagnostics market is segmented based on product, allergen, test, end user, and region. The assay kits segment is expected to register the highest growth rate in the allergy diagnostics market, by product, during the forecast period. The high growth in this segment is attributed to the increase in number of allergens and increasing healthcare expenditure worldwide.

Based on end users, the allergy diagnostics market is segmented into diagnostic laboratories, hospitals, academic research institutes, and other end users. The diagnostic laboratories segment is expected to account for the largest share of the market in 2016. Increasing prevalence of allergic diseases and the need for developing new therapies will drive the growth of this market.

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Geographically, the allergy diagnostics market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). Growth in the North American region is primarily driven by the rising aging population and benefits for youth in health insurance.

The major factors contributing to the growth of the allergy diagnostics market include increasing incidences of allergic diseases, rising environmental pollution, increasing healthcare expenditure, and increase in access to medical insurance in the U.S. On the other hand, stringent regulatory policies for validation of medical devices and the highly consolidated market which creates an obstacle for entry of small players are the major factors restraining the growth of this market.

Apart from comprehensive geographic and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by the market players to maintain and increase their shares in the market. The above-mentioned market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output in order to remain successful in the allergy diagnostics market.

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