Allergy Diagnostics and Therapeutics Market is Forecast To Reach USD 49.57 Billion By 2026 | Top Key Players Omega Diagnostics, Thermo Fisher Scientific, Stallergenes Greer, Siemens Healthcare

The global Allergy Diagnostics and Therapeutics Market is forecast to reach USD 49.57 Billion by 2026, according to a new report by Reports and Data. This is mainly contributed by the increase in the prevalence of allergies among the population. The technological advancements in the healthcare industry coupled with the changing lifestyle and food habits of the major population will drive the growth of the market. These allergic diseases can occur at almost any age, though some allergies are most likely to develop for the first time in particular age groups, especially in the geriatric population.

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Companies considered and profiled in this market study

Omega Diagnostics, Thermo Fisher Scientific, Stallergenes Greer, Siemens Healthcare, bioMerieux, Lincoln Diagnostics, Alcon Laboratories, HOB Biotech Group, Hycor Biomedical, and Hitachi Chemical Diagnostics, among others.

Moreover, the increase in the aged population as well as the growing prevalence of respiratory diseases, due to increasing pollution and CO2 emissions, are some of the other factors that will fuel the growth of the market. However, expensive equipment and the lack of awareness regarding ailments for allergic diseases is projected to restrain the growth of the market.

For the purpose of this report, Reports and Data have segmented global Allergy Diagnostics and Therapeutics Market on the basis of product, allergen type, test type, drug class, end user, and region:

Products Outlook (Revenue, USD Billion; 2018-2026)
Instruments
Consumables
Services

Allergen type Outlook (Revenue, USD Billion; 2018-2026)
Food
Inhaled
Drug

Test type Outlook (Revenue, USD Billion; 2018-2026)
In Vivo
In Vitro

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Drug class Outlook (Revenue, USD Billion; 2018-2026)
Antihistamines
Corticosteroids
Mast Cell Stabilizers
Leukotriene Inhibitors
Nasal Anticholinergics
Decongestants
Immunomodulators
Autoinjectable Epinephrine
Immunotherapy

End users Outlook (Revenue, USD Billion; 2018-2026)
Academic Research Institutes
Hospitals
Diagnostic Laboratories

Regional Outlook (Revenue, USD Billion; 2018-2026)
North America
Europe
Asia Pacific
Latin America
MEA

Further key findings from the report suggest

1. The market is segmented on the basis of product into instruments, consumables, and services.

2. The consumables segment accounts for the largest market share of ~50% in the year 2018 and is forecasted to witness the highest growth rate of 5.5% during the forecast period. The advancements in the healthcare and pharmaceuticals industry to detect allergic diseases in patients is the factor driving the growth of the segment.

3. For instance, assay kits are necessary and readily available consumables, used in life science research, drug discovery & development, and environmental monitoring.

4. The market is segmented on the basis of allergen type into food, inhaled, and drug.

5. The inhaled allergen type accounts for the largest market share of ~50% in the year 2018 and is also forecasted to witness the highest growth rate of 5.8% during the forecast period.

6. The increasing population and carbon dioxide emission, leading to increasing cases of respiratory allergies, will drive the growth of this segment.

7. The market is segmented on the basis of test type into in vivo and in vitro.

8. The in vivo test accounts for a larger market share of ~60% in the year 2018.

9. In vivo tests are widely used by healthcare and research industries since they are able to simulate realistic and clinically relevant test environment and conditions.

10. The market is segmented on the basis of drug class into antihistamines, corticosteroids, mast cell stabilizers, leukotriene inhibitors, nasal anticholinergics, decongestants, immunomodulators, autoinjectable epinephrine, and immunotherapy.

11. The antihistamines drug class accounts for the largest market share of ~20% in the year 2018.

12. Antihistamines are used to treat allergic diseases, especially rhinitis. It is an inexpensive, and generic drug that provides relief from nasal congestion, sneezing, or hives caused by pollen, dust mites, or animal allergy.

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Key selling points of this research study

1. The study gives an in-depth evaluation of the evolving competitive scenario that gives the reader/client a competitive edge.

2. It offers a holistic view of all critical aspects boosting or limiting the growth of the sector

3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.

4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.

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