Allergy Diagnostic and Treatment Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024

Increasing availability of effective treatment options is a major factor fueling growth of the allergy diagnostic and treatment market size. Overall, the billion dollar allergy diagnostic and treatment market revenue is expected to grow at a significant rate over the forecast period (2016–2024). With government taking key measures to improve healthcare facilities, many private players have emerged in the healthcare market to optimize and revolutionize the healthcare industry. These macro healthcare factors are expected to drive growth of various markets in the healthcare sector, most notably allergy diagnostic market.

Allergy is a form of hypersensitivity medical disorder of the immune system when the system reacts to a foreign substance (allergen). Symptoms of allergy include runny nose, red eyes, itchiness, hives, eczema or more severely an asthma attack. In similar context, allergy diagnostic services are used to identify the type of allergy and accordingly determine treatment regimen of allergic conditions. Moreover, with the amalgamation of advanced technologies in the field of point of care diagnostics, it is expected that the allergy diagnostic and treatment market would experience a significant growth in the near future.

 

Increasing preventative measure awareness is expected to drive sales of allergy diagnostic and treatment market size.

High incidence of allergic diseases such as allergic rhinitis, asthma, sinusitis, food allergy and other respiratory allergies are expected to boost growth of the allergy diagnostic and treatment market in the near future. For instance, according to the WHO, globally over 300 million patients suffered from asthma in 2013 and are expected to increase to over 400 million by 2025. Moreover, according to statistics provided by the American Academy of Allergy, Asthma & Immunology, globally around 15% of the population are affected by allergic rhinitis. Increasing prevalence of allergies among the global populace is expected to drive growth of the global allergy diagnostic and treatment market outlook. Furthermore, increasing government support for development of novel therapies and vaccines along with high research and development initiatives for development of advanced diagnostic techniques are expected to fuel growth of this market in the near future. Technological advancements in the field of in-vitro diagnostics and increasing focus on retaining superior quality of life are some of the factors that are projected to contribute towards growth of this market over the forecast period. However, high cost of these tests and unavailability of the tests kits are some of the factors that are projected to negatively influence growth of this market.

 

Allergy Diagnostic and Treatment Market Taxonomy

Coherent market insights has segmented the market on the basis of

  • Allergy Type
  • Tests Performed
  • Medication
  • End Use

 

On basis of type of allergy, the allergy diagnostic and treatment market scenario can be segmented as follows:

  • Drug Allergy
  • Allergic Rhinitis
  • Food Allergy
  • Skin Allergy
  • Insect Allergy
  • Sinusitis
  • General Allergy

Sinusitis and food allergies are especially prevalent in developed regions.

Drug allergy segment is expected to grow at double digit rate between 2016 and 2024.

 

Some of the major diagnostic tests performed for detection of the types of allergy are as follows:

  • Specific IgE testing
  • Patch testing
  • Blood testing
  • Others

 

On the basis of medications, the allergy diagnostic and treatment market is segmented into

  • Antihistamines
  • Decongestants
  • Corticosteroids
  • Leukotrienes inhibitors
  • Mast cell inhibitors
  • Others

 

North America and Europe are expected to dominate the global allergy diagnostic and treatment market size

North America, followed by Europe accounted for the largest share of allergy diagnostic and treatment market revenue, mainly fueled by high incidence of allergic diseases in the U.S. According to a research conducted by the Centers for Disease Control and Prevention in 2013, in the U.S., between the periods of 1997 to 2011, food allergies among children increased around 50%. Moreover, according to the European Academy of Allergy and Clinical Immunology (EAACI), over 17 million people in Europe were affected by food allergy in 2015.

 

A highly fragmented and immensely competitive market

 The market is expected to witness an exponential growth rate due to increasing prevalence of various types of allergies in developed nations such as the U.S, the U.K., France, Canada, and Spain. Some of the major companies in the allergy diagnostic and treatment market are bioMérieux, Danaher Corporation, GlaxoSmithKline plc, Hitachi Chemical Diagnostics, Inc., Merck & Co., Inc., Omega Diagnostics Group PLC, Siemens Healthcare, and Thermo Fisher Scientific, Inc.,.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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