Global Allergy Diagnostics Market 2018-2022
About Allergy Diagnostics
Allergy is a hypersensitivity disorder of the immune system, where the immune system reacts with foreign particles, also known as allergens. Various symptoms of allergy include hives, itchiness, red eyes, runny nose, eczema, and, in severe cases, asthma attack. Allergy diagnostics help in identifying types of allergies and consequently determining treatment regimen concerning specific allergic condition.
Technavio’s analysts forecast the global allergy diagnostics market to grow at a CAGR of 10% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global allergy diagnostics market for 2018-2022. To calculate the market size, the report considers the revenue generated from the allergy diagnostics..
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Allergy Diagnostics Market 2018-2022
Technavio recognizes the following companies as the key players in the global allergy diagnostics market: bioMérieux, Danaher, Hitachi Chemical, Omega Diagnostics Group, Siemens Healthcare, and Thermo Fisher Scientific
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing funding for allergy diagnostic devices. The advances in the development of innovative diagnostic devices are increasing to analyze allergic reactions. The demand for allergic diagnostic tests is increasing from the end-users such as hospitals and diagnostic laboratories owing to the growing number of patients requiring allergy diagnosis.”
According to the report, one of the major drivers for this market is Expansion of product ranges through M&A. Companies are trying to expand allergy diagnostic systems and consumable products through inorganic growth. Hence, the large companies such as Abbott, Siemens Healthcare, and bioMérieux are focusing on increasing their product sales through M&A.
Further, the report states that one of the major factors hindering the growth of this market is High cost of allergy diagnostic products and procedures. There is an increasing demand for diagnostic instruments, which can diagnose allergy quickly. However, the high price of these test kits and systems hinders the growth of the global allergy diagnostics market. The price of these systems plays an important role. The end-users such as hospitals and diagnostic laboratories purchase these systems after extensive cost-benefit analysis. However, local manufacturers can offer their equipment at a low price owing to the low-cost labor and less raw material cost.
bioMérieux, Danaher, Hitachi Chemical, Omega Diagnostics Group, Siemens Healthcare, and Thermo Fisher Scientific
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