Global allergy diagnostics and
therapeutics market is expected to reach USD 40.8 billion by
2022, according to a new report by Grand View Research, Inc. Increasing
prevalence of allergic conditions and adoption of immunoassay as a viable
diagnostic test is expected to serve this market with lucrative future growth
opportunities.
The
prevalence of target diseases such as asthma and food allergies are expected to
grow over the next seven years, supported by sedentary and dietary lifestyle
habits. In addition, rising indoor, industrial pollution, rapid urbanization in
developing countries and increasing greenhouse gas concentrations are expected
to increase the prevalence of pollen induced respiratory disorder, thereby
boosting the overall market growth over the forecast period.
Increasing
incidences of allergies has triggered the demand for sensitive, cost effective
and accurate diagnostics tools. Manufacturers in congruence with the changing
customer preferences are now engaged in constant product development. For
instance, the MeDALL allergen-chip for allergy determination is further
expected to propel market growth during the next seven years.
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Further key findings from the study suggest:
- Consumables being an indispensable diagnostic product segment sell in large volumes and therefore, dominated the market in 2014 with revenue share of over 55.0%. In addition, expensive nature of reagents and their frequent application in diagnostic assay also supports the aforementioned fact.
- Increasing demand for analyzers and laminators for allergy diagnostics is expected to help this segment grow at a lucrative CAGR of above 12.0% over the forecast period. Increasing awareness pertaining to outsourcing of allergy testing services is anticipated to show upward shift in coming years.
- Increasing demand for minimally invasive and allergen specific tests is anticipated to serve in vitro allergy diagnostics market with future growth opportunities. The market is expected to grow with CAGR of above 12.0% over the forecast period.
- Inhaled allergens accounted for the largest share of revenue in 2014 owing to, the growing incidences of respiratory allergies. According to statistics published in 2012 by American Academy of Allergy Asthma and Immunology (AAAAI), around 7.8 million children suffered from respiratory allergies worldwide and the number is expected to increase over the forecast period.
- Hospitals are the largest consumer of allergy diagnostic products. The segment is anticipated to grow with CAGR of over 11.0% in coming years.
- Antihistamines were the largest allergy therapeutic segment as of 2014 with share valued at over 17.0% due to associated advantages such as non sedating nature of drugs and minimum side effects with use of second generation antihistamines in allergy treatment.
- Immunotherapy vaccines are expected to witness lucrative growth owing to extensive R&D coupled with the introduction of sublingual immunotherapy tablets in the treatment of allergic rhinitis. For instance, In April 2014, the U.S. FDA announced the approval of a five-grass pollen sublingual tablet (Ex-Oralair) produced by Stallergenes which are used in the treatment of pollen allergy.
- Some key players of this market include Thermo Fisher Scientific, Omega Diagnostics, Siemens Healthcare, Stallergenes Greer, Lincoln Diagnostics, bioMerieux, HOB Biotech Group, Alcon Laboratories, Hycor Biomedical and Hitachi Chemical Diagnostics.
- Industry players are focusing on introducing technologically advanced and innovative products to gain competitive advantage. For instance, in March 2015, Stallergenes received approval for STG 320 in Japan, which is the first sublingual immunotherapy tablet used in the treatment of house dust mite allergy.
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Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
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Grand View Research, Inc
Phone: 1-415-349-0058
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Email:
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