2024 Research: Allergy Diagnostics and Therapeutics Market Projected to Surpass $100 Billion by 2034 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Allergy Diagnostics and Therapeutics Market by Type, by Allergen Type, by Test Type, by End-user, and by Region" report has been added to ResearchAndMarkets.com's offering.

The worldwide market for allergy diagnostics and therapeutics is witnessing a significant upsurge, driven by the escalating prevalence of allergic diseases and advancements in allergy diagnostics. According to industry analysis, the market is set to expand from USD 33.10 billion in 2023 to an estimated USD 104.53 billion by 2034, reflecting a compound annual growth rate (CAGR) of 11.02% during the forecast period of 2024 to 2034.

Analysts attribute the growth of the allergy diagnostics and therapeutics market to a rise in allergic conditions globally, influenced by changes in dietary habits, increasing pollution levels, and lifestyle transitions. Technological advancements in diagnostics, such as improved blood testing, molecular diagnostics, and skin prick testing, are enhancing the accuracy and ease of identifying allergens, thus bolstering market growth.

The therapeutic segment remains dominant in terms of revenue generation, attributed to the high prevalence of allergic diseases, along with significant strides in therapeutic options and personalized medicine. Conversely, the diagnostic segment is anticipated to experience the quickest CAGR over the forecast period, owing to advancements in diagnostic technologies and the expanding role of digital health solutions.

North America maintains its lead in the global market share, thanks to the high incidence of allergies and robust healthcare infrastructure complemented by substantial R&D investments. Meanwhile, the Asia Pacific region is estimated to grow at the most rapid CAGR, with an increased adoption of advanced diagnostic and treatment methodologies, improving healthcare infrastructures, and heightened awareness of allergic disorders. The global allergy diagnostics and therapeutics market is undergoing significant growth, with trends indicating a promising future for technological advancements and therapeutic developments across diverse regions and end-user segments.

Allergen Type Analysis

Among various allergen types, the inhaled allergens segment commands the market, primarily because of the widespread incidence of respiratory allergies and the effectiveness of inhaled treatments. However, the drug allergies segment is predicted to grow at the fastest rate, propelled by increasing instances of adverse drug reactions and a pressing need for accurate diagnostic and therapeutic methods.

Diagnostics Test Type Insights

In vitro tests lead the market within the diagnostics test type segment, prized for their high accuracy and reliability as well as the growing preference for laboratory-based allergy testing. The in vivo test segment, including skin prick and other immediate result-oriented tests, is expected to grow rapidly due to its time-efficiency and precision.

End-user Dynamics

Hospital settings, with their advanced diagnostic tools and extensive treatment options, are the primary contributors to the market's revenue. However, diagnostic laboratories are forecasted to progress at the highest CAGR, likely due to the surge in specialized allergy testing services and the expansion of diagnostic lab networks.

Key Attributes:

Report Attribute	Details
No. of Pages	200
Forecast Period	2023 - 2034
Estimated Market Value (USD) in 2023	$33.1 Billion
Forecasted Market Value (USD) by 2034	$104.53 Billion
Compound Annual Growth Rate	11.0%
Regions Covered	Global

Companies Featured

• Thermo Fisher Scientific Inc.
• Siemens Healthineers
• Danaher Corporation (Beckman Coulter)
• Stallergenes Greer
• Omega Diagnostics Group PLC
• bioMérieux SA
• HAL Allergy Group
• Lincoln Diagnostics Inc.
• Hycor Biomedical
• Hitachi Chemical Diagnostics Inc.
• HOB Biotech Group Corp.
• EUROIMMUN AG (A PerkinElmer Company)
• R-Biopharm AG
• Indoor Biotechnologies Inc.
• Quest Diagnostics Incorporated.

For more information about this report visit https://www.researchandmarkets.com/r/5of189

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