Allergy Diagnostics & Therapeutics Market Size Worth Around US$ 50.9 Billion by 2026 Print E-mail
By GLOBE NEWSWIRE   
Tuesday, 11 June 2019 08:00

Acumen Research and Consulting, Recently Announced New Study on Titled “Allergy Diagnostics And Therapeutics Market Size, Share, Growth and Forecast 2019-2026”.

LOS ANGELES, June 11, 2019 (GLOBE NEWSWIRE)

Acumen Research and Consulting, Recently Announced New Study on Titled “Allergy Diagnostics And Therapeutics Market Size, Share, Growth and Forecast 2019-2026”.

LOS ANGELES, June 11, 2019 (GLOBE NEWSWIRE) -- The Global Allergy Diagnostics & Therapeutics Market is estimated to grow at CAGR above 6% over the forecast time frame and reach the market value around USD 50.9 billion by 2026.

Increased allergy incidence and use of immunoassay as a diagnostic test are anticipated to provide profitable growth possibilities in this industry. A total of about 300 million instances of asthma and about 200 to 250 million cases of food allergy were recorded, according to the study released by the World Allergy Journal in May 2014. Due to sedentary lifestyle and bad nutritional habitat, this amount is anticipated to raise over the forecast period.

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In the era of projected development, enhanced environmental pollution, quick urbanization in developing nations and enhanced levels of Greenhouse Gas are anticipated to result in enhanced pollen-induced respirative disease. In future years, the emergence of sophisticated technological products, for example the MeDALL allergic chip, is anticipated to further stimulate the development of the industry.

The world market has high competitiveness and is managed by businesses such as Thermo Fisher Scientific, bioMerieux, Omega Diagnostic, Stallergenes Greer, Siemens Healthcare, the HB Biotech group, Lincoln Diagnostics, and Alcon Laboratories. In order to achieve competitive benefit, most sector members concentrate on developing sophisticated goods and techniques. In March 2015, for example, the first sublingual immunotherapy tablet used in the home dust allergy mite therapy, Stallergenes, obtained permission for STG 320 in Japan.

Instruments, consumables and services are considered in the product section. Consumables were a key element in the allergy detection industry in 2018. The segment is expected to be further driven by technological progress such as more delicate allergens microarray kits, which give personalized patient profiling and tracking. Furthermore, product development such as MeDALL allergy chips connected with increased sensitivity and rapid diagnosis is planned to encourage the development of the market.

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Regional Stance

As a result of elevated rates of allergic respiratory diseases and the increasing awareness of allergy diagnosis and the implementation of the in vitro blood tests, North America resulted the world market in 2018 in terms of revenues. The existence of advanced pharmaceutical industries and an growing demand for therapeutics will make Europe the second-largest regional market. The region is also contributing to the increase of the geriatric population and the increasing incidences of allergy. The fastest growing global market for CAGR is anticipated in Asia Pacific.

Key Findings

Due to a strong demand for allergy diagnostic analysers and laminators, the product segment of Instruments is expected to be the largest CAGR of more than 12 per cent between 2019 and 2026.

Due to increased demand for minimally invasive and allergen specific trials, In-Vitro is anticipated to be the biggest and most rapidly growing sample segments over the estimated time span.

Due to its benefits, such as non-sedative nature and minimum side-effects with the use of antihistamines of second-generation allergy therapy the allergy diagnostics and therapeutics industry leaded in 2018.

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The CAGR maximum is anticipated to be recorded in immunotherapy vaccines from 2019 to 2026 due to comprehensive R&D for allergic rhinitis therapy and the introduction of sublingual immunotherapy tablets.

In April 2014, for example, in the US The FDA endorsed a Stallergenes (ex-Oralair) five-grease pollen sublingual tablet, which is used for pollen allergy therapy.

Key Players & Strategies

Some of the main worldwide businesses include Thermo Fisher Scientific, bioMerieux, Danaher Corporation, Stallergenes Greer, Omega diagnoses, Siemens Healthcare, Hitachi Chemical Diagnostics, Hycor Biomedical and Alcon. The industry is extremely competitive and businesses are actively engaged in the launch of fresh products, strategic partnerships, procurement and development of technology to achieve maximum market share.

For example, the Medic Savoure Ltd. was acquired by Stallergenes Greer in October of 2017 and thus strengthened its presence on the immunotherapy market for allergies in Canada. In July 2016, FDA approval was also obtained from Novartis AG to use its Xolair product to treat allergic asthma in pediatrics that contributed to expanding its product portfolio.

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