Market Research Report
Allergic Diagnostics and Therapeutics Market 2019-2025
|Allergic Diagnostics and Therapeutics Market 2019-2025|
Published: November 9, 2019
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Allergic Diagnostics and Therapeutics
Market Size, Share & Trends Analysis Report, By Product (Instruments and Consumables), By Drug Class (Antihistamines, Decongestants, Corticosteroids, Mast Cell Stabilizers, Leukotriene Inhibitors, Nasal Anticholinergic, Immunomodulators, Auto-Injectable Epinephrine and Immunotherapy), By End-User (Diagnostic Labs, Hospitals and Clinics and Academic Research Institutions), Forecast 2019-2025.
The global allergy diagnostics and therapeutics market are anticipated to witness significant growth during the forecast period. Increasing prevalence of allergic diseases across the globe is the key factor that is augmenting the growth of the market. Additionally, rising healthcare expenditure and growing demand for in-vitro diagnostic (IVD) test for the treatment of allergic diseases and development of advanced diagnosis product are boosting the allergy diagnostics and therapeutics market across the globe.
Allergic rhinitis affects around 15-30% of the population across the globe. Allergic diseases are estimated to be the 6th leading cause of chronic diseases in the US. An estimated 50 million people in America suffer from allergies every year. Increasing environmental pollution is also one of the major factors driving the growth of the market. According to WHO, approximately 90% of the cities in emerging economies and more than 55% of cities in developed countries fail to comply with WHO air quality guidelines. However, certain factors are restricting the growth of the market which includes stringent government regulations on the use of medical devices, lack of awareness, and high cost of treatment. Increasing demand from emerging economies such as India and China are developing numerous expansion opportunities for the growth of the market.
The global allergy diagnosis and therapeutics market are segmented on the basis of the geographical regions, including North America, Europe, Asia Pacific and RoW. North America was anticipated to hold significant market share in 2018, owing to the increasing prevalence of allergic diseases and well-developed healthcare infrastructure in the region. Asia-Pacific is estimated to be the fastest-growing region during the forecast period owing to the rising allergy patients and cohesive government policies. Increasing pharmaceuticals market in Asia and increasing demand from developing countries such as India and China are driving the growth of the market.
The global allergy diagnosis and therapeutics market have been witnessing optimistic growth owing to the presence of several players focusing on new product launches. Key players of the market include Thermo Fisher Scientific, Inc., Danaher Corp., Siemens AG, bioMeriux AS, PerkinElmer, Inc., Omega Diagnostics Group PLC, and Hitachi Chemical Diagnostics, Inc. To sustain in the market, these players adopt different strategies, such as mergers and acquisitions, product launch and partnerships and collaborations. In May 2016, Thermo Fisher Scientific acquired Field Electron and Ion Co., a provider of microscope technology.
The market study of the global allergy diagnostics and therapeutics market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.
The report is intended for medical device and allergy drugs manufacturers, suppliers and distributors and government agencies for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.