The size of global allergy diagnostics market in terms of revenue was estimated to be worth $5.3 billion in 2024 and is poised to reach $9.8 billion by 2029, growing at a CAGR of 11.0% from 2024 to 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.
Global Allergy Diagnostics Dynamics
DRIVER: High incidence and heavy economic burden of allergic diseases
The important step in the treatment of patients suffering from allergic diseases is the allergy diagnosis. Asthma, rhinitis, angioedema, urticaria, conjunctivitis, and eczema are considered as the major allergic diseases. Additionally, across the globe, conditions such as food allergies and drug & insect allergies also affect many people. Allergies and related diseases have continued to be prevalent for more than 50 years in the industrialized world, globally. According to data from CDC’s (June 2023) National Center for Health Statistics. 27.2% of children show allergy symptoms, and 31.8% of adults, which tallies over 100 million people. The allergy cases witnessed to be high among children; sensitization rates to one or more common allergens among school children are currently approaching 40%-50%
RESTRAINT: High pricing of allergy diagnostic instruments
Key market players periodically update several Allergy Diagnostics instruments, such as luminometers, blot analyzers, scanners, ELISA analyzers, and immunoassay analyzers. These are priced at a premium (the price of each instrument varies based on its accuracy, flexibility, and TAT), as these instruments are equipped with advanced features and functionalities. For instance, Phadia 2500+ by Thermo Fisher Scientific, Inc. (US) costs USD 1,185,895, IMMULITE 2000 xpi by Siemens costs USD 20,953.8, while luminometers cost USD 3,000 and USD 14,000. Semi-automated ELISA readers cost USD 2,000 and USD 5,000, while fully automated analyzers cost around USD 14,000. Furthermore, an additional expense required to operate this equipment for maintenance and insurance, laboratory supervision, and overheads (including utilities, space, and administration).
OPPORTUNITY: Integration of AI in allergy diagnosis
In the area of data science, artificial intelligence (AI) refers to sophisticated computational devices that can interact with humans and learn from data. Early diagnosis, self-care, wellness and prevention, clinical decision support, care delivery, and chronic care management are just a few of the healthcare domains where AI may be useful. The most recent advancements in AI methodology have opened up new avenues for defining the patient-to-patient heterogeneity of allergic disorders, as discovered in paediatric allergy research.
CHALLENGE: Shortage of allergists
General practitioners could not manage the diagnosis and treatment of allergic disorders such as asthma, rhinitis, food allergies, urticaria and others is multi-faceted and complicated and thus requires the prowess of a dedicated allergy specialist. For maintaining good health for people of all ages, allergists play a vital role. However, there is now a growing shortage of allergists. For instance, the leading membership organization American Academy of Allergy, Asthma & Immunology (AAAAI), includes more than 7,000 allergists / immunologists and it is the trusted resource of patients for allergies, asthma and immune deficiency disorders. Furthermore, one San Francisco study reported that there are long scheduling waits in most areas to see allergists and the mean wait times to consult an allergist of more than 60 days (Source: Barton Associates).
North America to dominate in Allergy Diagnostics industry.
The global allergy diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate during the forecast period, primarily due to the growing availability of government funding for allergy research activities, the presence of major players in the US, presence of telemedicine & remote testing, and increased collaborations and partnerships between government and allergy associations.
Prominent players in the Allergy Diagnostics market include:
- Thermo Fisher Scientific Inc., (US)
- Siemens Healthineers AG (Germany)
- Danaher (US)
- Canon, Inc. (Japan)
- Minaris Medical America, Inc. (US)
Recent Developments of Allergy Diagnostics Industry:
- In 2023, Canon has completed share transfer procedures with Resonac Corporation. This share transfer is intended to be used to purchase the Resonac subsidiaries Minaris Medical Co., Ltd. and Minaris Medical America, Inc. (collectively, “Minaris Medical”). After this share acquisition is finished, Minaris Medical—which runs companies that deal with automated analytical tools and in vitro diagnostic reagents—will be consolidated under Canon Medical.
- In 2023, Romer Labs Division Holding GmbH (Austria) acquired CPAK INTER Co., Ltd. (Thailand), a long-time distributor of Romer Labs solutions based in Bangkok. With the acquisition, Romer Labs has achieved yet another significant milestone in the quickly expanding Asian food safety industry.
- In 2022, The US Food & Drug Administration (FDA) has cleared ImmunoCAP Specific IgE (sIgE) Allergen Components for use in in vitro diagnostic testing for wheat and sesame allergies, according to a statement from Thermo Fisher Scientific, Inc. (US).