Allergy Diagnostics Market Infographics Description:
The global allergy diagnostics market, with a valuation of US$ 1,732.6 million in 2017, is expected to witness substantial growth, forecasting a rise to US$ 7,706.3 million by 2026. This trajectory reflects a compound annual growth rate (CAGR) of over 12% across the forecast period from 2017 to 2026. The growth is largely propelled by technological advancements in the field of allergy diagnostics and a heightened awareness of allergic diseases among the global population.
Among product types, the diagnostic assay kits segment is pivotal, driving a significant portion of the market’s revenue. With a CAGR of 8.8%, this segment is expected to dominate the market landscape during the forecast period. The rising adoption of these kits is due to their evolving capabilities which offer increased accuracy and speed in allergy detection, making them indispensable in clinical settings. The revenue from assay kits is anticipated to multiply substantially, highlighting a growing reliance on these technologies in the allergy diagnostics field.
The instruments and services segments are also set to expand significantly. Instruments are projected to grow at a CAGR of over 11.5% and services at 12.2%, driven by ongoing innovations that enhance operational efficiencies and diagnostic accuracies. These advancements support the complex needs of modern medical diagnostics by integrating cutting-edge technologies that streamline workflows and improve patient outcomes.
Geographically, North America is forecasted to maintain its lead in the allergy diagnostics market, attributed to its advanced healthcare infrastructure, the presence of key market players, and proactive health management practices. The market in North America is characterized by a deep penetration of advanced diagnostic solutions and a robust CAGR of 4.8%, reflecting steady growth driven by technological integration and strategic healthcare initiatives.
The laboratory segment, among end users, is particularly noteworthy. Dominating the market in terms of revenue contribution, laboratories are expected to continue leading with the highest CAGR of over 12%. This growth is fueled by the increasing number of diagnostic laboratories and a rising patient pool requiring allergy testing. Laboratories’ expansion is supported by the broader availability of advanced diagnostic tools that enhance testing capabilities and improve the accuracy of allergy assessments.
In terms of cumulative revenue, the market is projected to reach US$ 5,417.6 million during the first half of the forecast period (2017–2021), with a significant increase expected in the latter half (2022–2026). The inhaled allergen segment commands the largest share, indicating the prevalent issue of airborne allergens and the critical need for their identification and management.
Key market players, such as BioMerieux SA, Danaher Corporation, and Siemens AG, are instrumental in driving forward the allergy diagnostics market through continuous innovation and strategic expansions. These firms are deeply involved in developing new diagnostic solutions that cater to the evolving needs of the healthcare sector, underscoring the dynamic nature of the allergy diagnostics market. These developments are expected to further enhance the efficacy, accessibility, and application of allergy diagnostic procedures, ensuring sustained growth and technological progression in the industry.
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