Food Allergy Diagnosis & Treatment Market, Top Key Players, Target Audience and Forecast to 2027

Market-Overview
The food allergy diagnosis & treatment market is witnessing a constant increase in terms of size as well as revenues, globally. Increasing the prevalence of allergies for various types of food is a key driving force behind the growth of the market. Besides, the increasing improvements in diagnostic and therapeutic processes have spurred the growth of the market.

Moreover, spreading awareness towards the availability of treatments, alongside the rapid adoption of these diagnostic and treatment methods accelerate market growth. According to Market Research Future (MRFR), the global food allergy diagnosis & treatment market is forecasted to reach a valuation of USD1830.05 MN by 2023, registering approximately 5.10 % CAGR during the anticipated period (2017-2023).

Additional factors such as the growing research & development activities led by substantial investments, clinical trials, and new approvals for the new diagnostic & treatment procedures substantiate the market growth. Rising numbers of pharmaceutical & biotechnology companies and their collaborations with hospitals and independent research centers to develop new therapies are other major growth drivers for the market.

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Key Players
Players leading the global food allergy diagnosis & treatment market include Intertek Group PLC (UK), SGS SA (Switzerland), TÜV SÜD AG (Singapore), Eurofins Scientific SE (Luxembourg), ALS Limited (Australia), Mérieux NutriSciences Corporation (US), Microbac Laboratories, Inc. (US), and AsureQuality Limited (New Zealand), and others.

Market Segment

The analysis has been segmented into five main dynamics to widen the scope of understanding,

By Food Source : Eggs, Milk, Peanuts, Wheat Soy, Seafood, Tree Nuts, and others.

By Diagnosis : Primary (Prick Test, Blood Test, Food Elimination Test, others) and Secondary (Polymerase Chain reaction (PCR), Enzyme-linked Immunosorbent Assay (ELISA), others.

By Treatment : Antihistamines, Adrenalin & Corticosteroids, and others.

By End-Use : Hospital & Clinics, Diagnostic Centers, and others.

By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.

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Regional Analysis

North America dominates the global food allergy diagnosis & treatment market. The largest markets share attributes to the rise in the prevalence of various types of food allergies. Besides, the presence of a well-developed healthcare sector & major key players in the region, alongside the high healthcare expenditures, drive the regional market growth. Also, the increasing cases of anaphylaxis, adoption of new technology, and government initiatives to reduce the severe effects of food allergy impact the regional market growth positively. The North American food allergy diagnosis & treatment market is expected to register 2.93% CAGR during the forecast period.

Europe is the second-largest market in the global food allergy diagnosis & treatment market. Factors such as well-penetrated healthcare sector and the resurging economy in the region foster market growth. Moreover, the increasing awareness of food allergy, increasing concerns about the safety of children, and rising cases of food allergy influence the regional market growth. Furthermore, the increase in health expenditure and R&D investments are anticipated to push the market growth in this region. The European food allergy diagnosis & treatment market valuation had reached USD 5,697.4 million in 2018, which would further appreciate at an impressive CAGR during the assessment period.

The food allergy diagnosis & treatment market in the Asia Pacific region is growing briskly. The market is majorly driven by the presence of countries such as China, Korea, and Japan, where the adoption rates for advanced technologies are quite high. Besides, the large unmet clinical needs in these countries are projected to contribute significantly to the regional market growth. Additionally, the growing penetration of the healthcare industry, alongside the increasing healthcare expenditures, drives the regional market. The APAC food allergy diagnosis & treatment market is estimated to register4.56% during the review period.

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