Allergy Diagnostics Market – Global Outlook & Forecast 2021-2031

Allergy Diagnostics Market by Test Type [In Vivo and In Vitro], Product Type [Instruments, Consumables and Services], Allergan Type [Drug Allergens, Inhaled Allergens and Food Allergens], End User [Hospitals, Diagnostic Laboratories and Academic Research Institutes] – Global Analysis & Forecast 2021-2031

Clairvoyance Research conducted an in-depth market analysis study of the global allergy diagnostics market. According to the study, the market was valued at ~US$ 4.63 billion in 2020. The market is expected to witness a CAGR of ~10.3% from 2021 to 2031. 

Rising incidence of allergies across the globe, growing adoption of advanced allergy diagnostics kits & technology, increasing environmental pollution and favorable reimbursement scenario in the U.S. are some of the pivotal factors propelling the growth of the allergy diagnostics market. However, lack of coverage for tests in emerging countries and issues related to affordability of allergy diagnostics instruments are likely to hamper the growth of the market to a certain extent.

With an aim to fast-track the development of allergy diagnostics and to meet the needs of the healthcare sector, several initiatives such as providing necessary grants, permissions, clearances & approvals have been instigated by various organizations and government agencies across the world. For instance, in Mar 2021, FARE, the world's leading non-governmental organization engaged in food allergy advocacy and largest private funder of food allergy research, launched a multi-year competition, the FAITH Challenge, designed to put an end to Oral Food Challenges and create a new, safe and compassionate method to accurately diagnose patients with food allergies.

The prevalence of allergic diseases worldwide is rising dramatically in both developed and developing countries. About 30-40% of the world population are being affected by one or more allergic conditions. Allergies are the 6th leading cause of chronic illness in the U.S. More than 50 million Americans experience various types of allergies each year. In 2018, approximately 7.7% of adults and 7.2% of children were diagnosed with hay fever in the U.S. alone. Each year in the U.S., it is estimated that anaphylaxis to food results in 30,000 emergency room visits.

Companies operating in the market are constantly striving to launch several novel and technologically advanced allergy diagnostic platforms & kits that can offer more advantages. For instance, in Dec 2020, Kenota Health Inc., an innovative medical technology company based in Canada, raised $11 million in funding with the aim of providing rapid and reliable allergy testing for physicians to test and treat more patients within a single clinic visit.

However, lack of coverage for test may hamper the growth of the market to a certain extent. Reimbursements for allergen products are heterogeneous and differ from country to country owing to varying insurance contracts and regulations. In the U.S., allergy testing probably costs around US$50 to US$150 with insurance coverage. Without insurance, the costs range from US$200 to US$1000 depending on the test and the number of allergens tested for. Whereas in other regions, it is not clearly defined and are sophisticated. Therefore, out of pocket expenses for allergy diagnostics is considered a huge barrier for the growth of the market. Issues related to affordability of installation and maintenance of allergy diagnostics instruments in small and medium laboratories is also expected to limit the growth of the market to a certain extent

The Asia Pacific region is expected be the fastest growing allergy diagnostics market. Factors such as developing healthcare infrastructure, increasing prevalence of various type of allergies, and rising awareness for allergy diagnostics can be attributed to the growth of the market. Countries such as India, China, Japan in the APAC region, are projected to offer significant growth opportunities owing to presence of large patient pool in the region.

The allergy diagnostics market is marked by presence of prominent players such as Siemens Healthcare Private Limited, Thermo Fisher Scientific, bioMérieux SA, Hitachi Chemical Diagnostics, Inc., Omega Diagnostics Group PLC, StatNano, HYCOR Biomedical, Lincoln Diagnostics, Inc., Stallergenes Greer and HOB Biotech Group Corp., Ltd. Other players operating in the market are R-Biopharm AG, Alcon, among others.

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