Global Allergy Diagnostics Market Size, Share, Growth Analysis, By Product & Service(Consumables, Instruments, By Allergen, By Test Type(In Vivo Tests, By End User - Industry Forecast 2022-2028

Global Allergy Diagnostics Market was valued at USD 4.80 billion in 2021, and the market size is estimated to reach USD 10.03 billion by 2028, at a CAGR of 11.10% over the forecast period (2022-2028).

The market for allergy diagnostics is anticipated to grow as pollution levels rise. Exposure to allergens, occupational exposure, and exposure to indoor and outdoor air pollution are the key risk factors for chronic respiratory infections. City inhabitants are more likely to have allergy disorders than rural dwellers are because they are exposed to more pollution. The market for allergy diagnostics is anticipated to develop as food allergies become more prevalent.

A type of allergic illness known as food allergy is more prevalent in urban and first-world nations than in rural areas and third-world nations. The hygiene standards and the likelihood of contracting infectious diseases are two of the most obvious disparities between these areas. The development of the immune system is probably influenced by early exposure to bacterial, viral, and parasite illnesses as well as to a number of common human body microorganisms. The incidence of sensitive skin and its propensity for irritation have increased as a result of climate change, air pollution, the complexity of materials, and cosmetic goods. These elements are anticipated to fuel the allergy diagnostics market's expansion in the near future.

Top-down and bottom-up approaches were used to estimate and validate the size of Asia Pacific Allergy Diagnostics Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The global Allergy Diagnostics market is segmented based on product & service, allergen, test type, end user, and region. Based on product & service, the Allergy Diagnostics market is segmented into Consumables, Instruments (Immunoassay Analyzers, ELISA Analyzers, Luminometers, Other Instruments), Services. Based on allergen, the Allergy Diagnostics market is segmented into Inhaled Allergens, Food Allergens, Drug Allergens, Other Allergens. Based on test type, the Allergy Diagnostics market is segmented into In Vivo Tests (Skin Prick Tests, Patch Tests, Other In Vivo Tests), In Vitro Tests. Based on end user, the Allergy Diagnostics market is segmented into Diagnostic Laboratories, Hospital-based Laboratories, Academic Research Institutes, Other End Users. Based on region, the Allergy Diagnostics market is categorized into North America, Europe, Asia-Pacific, and MEA.

Driver

Allergies, occupational exposure, and exposure to indoor and outdoor air pollution are the key risk factors for chronic respiratory illnesses. Due to greater exposure to environmental toxins in cities, there are more people with allergy problems in urban areas than in rural areas (as a result of vehicular pollution and industrial activities). More than 80% of people who live in urban areas, according to the WHO, are exposed to air quality levels that exceed WHO safety recommendations; while this is a global trend, the effects are more severe in urban areas of low-income nations. Since that air pollution from automobiles has been identified as a major risk factor for allergic disorders, this is an important indicator for the development of the market for allergy diagnostics.

Restraint

Industry participants regularly update a number of allergy diagnostic equipment, including luminometers, blot analyzers, scanners, ELISA analyzers, and immunoassay analyzers. These instruments are more expensive because they have numerous features and functionality (the price of each instrument varies based on its accuracy, flexibility, and TAT). For instance, the price of an immunoassay analyzer ranges from $10,000 to $20,000, whereas the price of a luminometer is between $3,000 and $14,000. Fully automated analyzers start at around USD 14,000 while semi-automatic ELISA readers cost between USD 2,000 and USD 5,000. In addition, there are expenses related to running this equipment such as maintenance and insurance, laboratory supervision, and overheads (such as utilities, space, and administration).

Market Trends

Reagent leasing contracts are becoming more popular as a way to lower the high cost of allergy diagnosis. Reagent rental contracts are sales agreements between manufacturers of allergy diagnostic products and end users (such as hospitals and diagnostic laboratories). By entering into a reagent-purchase contract with the producer, the end user leases or purchases instruments at a discounted price under these arrangements. By reducing the end user's initial capital investment and guaranteeing the manufacturer long-term orders, this agreement benefits both parties. In some cases, end users can rent analyzers on a per-test basis. Labs can significantly reduce costs by using cost-per-test contracts and reagent leasing agreements. Also, they help laboratories avoid significant fixed capital expenditures related to the purchase of new equipment. High-volume laboratories incur much higher expenditures than standard laboratories. The average contract lasts between five and ten years, so laboratories may stay current on the most recent developments in allergy diagnosis. Some contracts include service/maintenance fees as part of the total price, giving laboratories an additional savings.