Allergy Diagnostics Market: Western Lifestyle Create Lucrative Opportunities for Market’s Rise

According to the Transparency Market Research (TMR), the global allergy diagnostics market has a highly consolidate business landscape. In 2015, the top five players, namely, Omega Diagnostics Group Plc., Quest Diagnostics Inc., Thermo Fisher Scientific Inc., BioMerieux, and Stallergenes Greer, collectively, held 73% of the overall market. The rivalry among these players is likely to intensify in the near future with each one of these getting involved in partnerships to expand their reach among consumers, states the research report.

As per the research study, the worldwide market for allergy diagnostics, which was worth US$1.3 bn in 2015, is anticipated to rise at a CAGR of 12.80% over the period from 2016 to 2024 and reach a value of US$3.8 bn by the end of the period of the forecast. Among the products, the demand for consumables is relatively greater and the trend is anticipated to remain so in the years to come, thanks to their low cost.

Read Report Overview: https://www.transparencymarketresearch.com/allergy-diagnostics-market.html

Geographically, the market registers its presence across Latin America, Asia Pacific, the Middle East and Africa, Europe, and North America. North America, among all the regional markets, has acquired the topmost position, thanks to the presence of a state-of-art medical and healthcare infrastructure. With the augmenting prevalence of allergies, rising awareness pertaining to threats of allergies, presence of advanced diagnostic technologies, and improving healthcare facilities, the North America market for allergy diagnostics is expected to continue dominating the global market over the next few years, reports the research study.

Western Lifestyle Create Lucrative Opportunities for Market’s Rise

“The main factor behind the growth of the global allergy diagnostics market is the rising incidence of allergies and reactions,” says the author of the study. Apart from this, this market is boosted by a number of genetic, social, geographical, and economic factors. Among these is a theory called “hygiene hypothesis”. According to this hypothesis, the dearth of early exposure to infectious microorganisms and agents augments the susceptibility of an individual to allergies, by limiting the development of the immune system at an early stage. As the urban lifestyle provides minimal exposure to infectious agents in early life, the prevalence of allergies in urban population is increasing substantially, giving rise to the global allergy diagnostics market. Going forward, technological advancements in allergy diagnosis techniques is likely to support this market over the next few years, states the research report.

Request Sample of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5147

Lack of Awareness among People in Emerging Economies to Hamper Growth

On the flip side, the lack of awareness among consumers in emerging economies, coupled with the dearth of financial resources to fund these expensive diagnosis tests, may limit the growth of this market to some extent in the years to come. However, the rising number of government programs to educate about the benefits of early diagnosis of allergies and improved reimbursement scenarios in various developing countries will aid this market over the forthcoming years, notes the study.

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=5147

About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact us:
Transparency Market Research
90 State Street,
Suite 700,
Albany
NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/

This release was published on openPR.