Global Allergy Diagnostics Market Report 2021: Market to Reach US$8.5 Billion by the Year 2027 - US Dominates the Allergy Diagnostics Market, While China to Witness the Fastest Growth
Global Allergy Diagnostics Market to Reach US$8.5 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Allergy Diagnostics estimated at US$4.6 Billion in the year 2020, is projected to reach a revised size of US$8.5 Billion by 2027, growing at a CAGR of 9.1% over the analysis period 2020-2027.
Assay Kits, one of the segments analyzed in the report, is projected to grow at a 9.8% CAGR to reach US$4.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Instruments segment is readjusted to a revised 8.9% CAGR for the next 7-year period. This segment currently accounts for a 27.8% share of the global Allergy Diagnostics market.
The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 12.1% CAGR for the Period of 2020-2027
The Allergy Diagnostics market in the U.S. is estimated at US$1.2 Billion in the year 2020. The country currently accounts for a 27.03% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2027 trailing a CAGR of 12.2% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.1% and 7.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.1% CAGR while Rest of European market (as defined in the study) will reach US$1.8 Billion by the year 2027.
Services Segment Corners a 20.6% Share in 2020
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$718 Million in the year 2020 will reach a projected size of US$1.1 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2027, while Latin America will expand at a 8.8% CAGR through the analysis period.
Global Allergy Diagnostics Market Set to Witness Rapid Growth
With Allergies on the Rise for Whatever Reason Be It Our Neanderthal Genes or Hygiene Hypothesis or Vitamin D Hypothesis, the Need for Effective Diagnostics Has Never Been Greater
Assay Kits Dominate the Allergy Diagnostics Market
Inhaled Allergens Segment to Witness Fastest Growth
US Dominates the Allergy Diagnostics Market, While China to Witness the Fastest Growth
Rising Demand for In-Vitro Diagnostic Tests for Allergy Diagnosis
Development of Effective Allergy Diagnostic Products Cuts Down on Healthcare Spending
Labs Embrace Automation and Advanced Allergy Tests for Fast Turnaround Times
Need to Offer Quality Services at Affordable Costs Prompts Labs to Consider Reagent Rental Agreements
In-Vitro IgE Molecular Diagnostics to Transform Allergy Testing Market
Macro Array Diagnostics Unveils Allergy Explorer for Allergy Diagnostics
Rising Alcohol and Drug Abuse Increases Demand for Allergy Diagnostics
Increasing Cases of Allergies Drive Development of Advanced Allergy Diagnostics Solutions
Focus on Single and Protein Allergens
IgE Antibody Tests
Allergy Diagnostic Reagents on Microchip
Allergy Diagnosis Moves from Lab-based to Decentralized POC Tests
Patch Test to Experience Healthy Growth
SmartPractice Secures FDA Approval for T.R.U.E. Test(R) Patch Test for Pediatric Use
Providers of Allergy Diagnostic Services Focus on Vertical Integration
Allergic Diagnostic Challenges in Patients
Enhanced Access to Allergy Diagnosis Medical Insurance & Instrument Allowances in the US Widen Market Prospects
Typical Cost Structure for Allergy Testing
Select Digital Technologies to Provide Help in Managing Food Allergy
Select Recent Launches in the Allergy Diagnostics Market to Bolster Market Expansion
EUROIMMUM Develops EUROLINE DPA-Dx Pollen Southern Europe 1 Test for Pollen Allergies
Hycor Biomedical Secures FDA Clearance for NOVEOS Allergy Testing System
ASI Introduces IVT Allergy(R) 3 Screen Panel for Allergy Skin Testing
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