Allergy diagnostics and therapeutics Market forecast period 2023-2030 | Expected to Double Its Size by Upcoming Years

Global Allergy diagnostics and therapeutics Market is valued approximately USD 29.36 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.6% over the forecast period 2023-2030. Allergy diagnostics and therapeutics refer to the field of medicine and healthcare focused on identifying and treating allergies. Allergies occur when the immune system overreacts to harmless substances known as allergens, such as pollen, dust mites, certain foods, or animal dander. The Allergy diagnostics and therapeutics market is expanding because of factors such as rising increasing incidence of allergies and advancements in technology and launch of new products.

According to Information form the American College of Allergy, Asthma & Immunology, More than 50 million Americans suffer from allergies each year. In addition, according to statista, in India The number of people suffering from allergies had increased from 13% in 2018 to 15% in 2020 across India. Similar to this, according to data from the Asthma and Allergy Foundation of America, 81 million Americans were diagnosed with seasonal allergic rhinitis in 2021, making up about 26% of adults and 19% of children who were affected.

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Thus rising incidence of allergies across the regions is driving the market growth. In addition, high adoption of immunotherapy drugs and rising exposure to environmental pollutants is creating a lucrative opportunity to the market growth. However, low adoption and penetration in developing countries due to the high cost of technology and lack of allergen standardization stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Allergy diagnostics and therapeutics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of branded products and the region’s increasing disease prevalence. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising target populations, an increase in the number of collaborations for product development, geographic expansion of key players.

Major market players included in this report are:
R-Biopharm AG
EUROIMMUN Medizinische Labordiagnostika AG
DASIT Group SPA
AESKU.GROUP GmbH
bioMerieux SPA
Danaher Corporation
Thermo Fisher Scientific, Inc
Stallergenes Greer
Minaris Medical America, Inc.
Siemens Healthcare GmbH

Recent Developments in the Market:
In May 2021, Glenmark announced the launched of nasal spray name Ryaltris, the product can be used to treat the moderate to severe allergic rhinitis.

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In June 2022, -Oncologica, has launched a new Allergyfocus test which helps the sufferers discover common allergens their bodies react to. Antibodies that have been produced in response to a certain allergen are found by allergyfocus. The antibody allergy test saves allergy patients from making numerous trips to allergy specialists as well as the trial and error method of determining the source of their allergic reactions.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Instruments
Consumables
Services

By Allergen Type:
Food
Inhaled
Drugs
Others

By Test type:
In Vivo test
In vitro test

By Drug Class:
Antihistamines
Decongestants
Corticosteroids
Mast Cell Stabilizers
Leukotriene Inhibitors
Nasal Anti-cholinergic
Others

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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Key Questions Market Research and Analysis Report

• What are the technological advancements and innovations affecting the industry?
• What are the potential risks and challenges for market participants?
• What are the market entry barriers and competitive intensity?
• What are the market forecasts and projections for the future?
• What are the key success factors for businesses operating in the market?
• What are the recommended strategies for market participants to achieve growth and competitive advantage?
• What are the investment opportunities and potential returns in the market?

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