Allergy Diagnostics Market 2017 - Global Forecast to 2022

The global allergy diagnostics market is expected to reach USD 5.74 Billion by 2022 from USD 3.49 Billion in 2017, at a CAGR of 10.5%.

A number of factors, such as the high incidence and large economic burden of allergic diseases, rising environmental pollution levels, increasing healthcare expenditure, and growing access to medical insurance in the US are expected to drive the growth of this market.

The global allergy diagnostics market is segmented by product & service, test type, allergen, end user, and region. By product & service, the allergy diagnostics market is segmented into assay kits, instruments, and services. The assay kits segment is expected to lead the global allergy diagnostics market in 2017. The widespread availability and large consumption of assay kits in allergy testing are expected to drive the growth of this segment in the coming years.

The global allergy diagnostics systems market is dominated by North America, followed by Europe. North America will continue to dominate the global allergy diagnostics market during the forecast period. However, Asia is expected to witness the highest CAGR, with the growth in this market centered at Japan, China, and India. Improving life sciences research infrastructure in emerging economies and growing government investment in biomedical, pharmaceutical, and biotechnology industries are some factors propelling market growth in the Asian region.

The worldwide economic downturn and pricing limitations are expected to restrain the market growth to a certain extent.

Major industry players launched innovative products in the recent past and have plans to launch new products and expand across geographies via partnerships and acquisitions in the future. Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), and Siemens AG (Germany) have been identified as the top players in this market. These companies have a broad product portfolio with comprehensive features and have also launched innovative products. Further, these leaders have products for all end users in this segment, strong geographical presence, and more importantly focus on continuous product innovations.

Market Dynamics

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Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/research/s7zdjz/allergy

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