Allergy Diagnostics And Therapeutics Market Size is Predicted to Witness 8.7% CAGR till 2030

 

The global Allergy Diagnostics And Therapeutics Market size was estimated at USD 58.31 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing incidences of allergic diseases, coupled with demand for advanced therapeutics, is expected to drive the market growth in the coming years. According to estimates published by the American Academy of Allergy Asthma & Immunology (AAAAI), allergic rhinitis affects approximately 10-30% of the global population, thereby impacting the adoption of allergy therapeutics globally.

The increasing integration of technologically advanced products, such as the use of artificial intelligence technology to advance treatment outcomes and manage diseases, helps practitioners in the decision-making process. Furthermore, the rising adoption of mHealth apps for diagnosing allergies such as rhinitis is expected to boost the market. For instance, the MASK-Air app is dedicated specifically to allergic rhinitis.

Monoclonal antibodies are anticipated to contribute to the development of new therapies that eradicate specific allergy concerns, owing to their higher efficacy, long-term tolerability, and safety. Hence, key companies are developing novel & effective biologic-based therapies designed with target-specific mechanisms directed toward selective targets, especially monoclonal antibodies. In addition, consistent product approvals of highly significant monoclonal antibodies for allergy disorders are anticipated to expand the scope for growth. 

New therapies such as anti-immunoglobulin E (IgE) antibodies, cytokine modulators, and DNA vaccinations are being used to treat allergic disorders. Omalizumab is a recombinant humanized IgG1 monoclonal anti-IgE antibody, which is used for treating allergic chronic urticaria and asthma. In April 2021, Genentech (Roche Group) announced that its prefilled syringe for self-injection has received FDA approval for Xolair (omalizumab) in the U.S. for chronic idiopathic urticaria allergic asthma, and nasal polyps.

The allergy diagnostics & therapeutics market is moderately competitive, with a strong presence of notable companies such as Merck & Co., Inc, Thermo Fisher Scientific, Inc., Abbott, and Pfizer, Inc. These players are undertaking various initiatives to increase their capabilities, expand their product portfolios, and improve their competencies. 

Related Press Release@ Allergy Diagnostics And Therapeutics Market Report

Allergy Diagnostics And Therapuetics Market Report Highlights

• The consumables product segment held the largest share in the allergy diagnostics & therapeutics market in 2022. The advent of products that include the MeDALL allergen-chip, which is linked with increased sensitivity, precision, and faster detection, is anticipated to encourage market growth
• The drug allergies segment is expected to advance lucratively due to the increasing availability of treatment options and growing awareness about drug allergies among patients
• In vitro tests accounted for the highest share in 2022 due to an increase in the incidence of allergies such as asthma, rhinitis, & allergic conjunctivitis, and a rise in demand for allergy testing globally
• Epinephrine dominated the drug class segment in 2022. The introduction of cost-effective epinephrine autoinjectors by key companies is expected to significantly augment market growth
• North America dominated the allergy diagnostics & therapeutics market in 2022, due to an increase in understanding of the high potential associated with allergy drugs. This has driven U.S.-based firms to make considerable investments in the development of these drugs
• Asia Pacific is expected to witness considerable growth in the future owing to the rising incidences of asthma, chronic cough, and food allergies, among others, in the region

List of Key Players in Allergy Diagnostics And Therapuetics Market

• R-Biopharm AG
• Thermo Fisher Scientific, Inc.
• DASIT Group SPA
• EUROIMMUN Medizinische Labordiagnostika AG (PerkinElmer, Inc.)
• AESKU.GROUP GmbH
• bioMérieux
• Siemens Healthcare GmbH
• Stallergenes Greer
• HYCOR Biomedical
• Minaris Medical America, Inc.
• Omega Diagnostics Group PLC
• Lincoln Diagnostics, Inc.
• HOB Biotech Group Corp., Ltd.
• Danaher
• Alcon
• AbbVie, Inc.
• Sanofi
• Allergy Therapeutics
• Pfizer, Inc.
• Teva Pharmaceutical Industries Ltd.
• GSK plc
• Sun Pharmaceutical Industries Ltd
• F. Hoffmann-La Roche Ltd.
• Merck & Co., Inc.
• Astellas Pharma Inc.
• Epigenomics AG

Request A Free Consultation@ https://www.grandviewresearch.com/request-free-consultation/1759/rfc

Allergy Diagnostics And Therapuetics Market Segmentation

Grand View Research has segmented the global allergy diagnostics & therapeutics market report on the basis of type, allergen type, test type, and region:

Allergy Diagnostics And Therapuetics Type Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostics
• Instruments
• Consumables
• Services
• Therapeutics
• Antihistamines
• Decongestants
• Corticosteroids
• Mast Cell Stabilizers
• Leukotriene Inhibitors
• Nasal Anti-cholinergic
• Immuno-modulators
• Epinephrine
• Immunotherapy

Allergy Diagnostics And Therapuetics Allergen Type Outlook (Revenue, USD Million, 2018 - 2030)

• Food
• Dairy Products
• Poultry Product
• Tree Nuts
• Peanuts
• Shellfish
• Wheat
• Soys
• Other Food Allergens
• Inhaled
• Drug
• Other Allergens

Allergy Diagnostics And Therapuetics Test Type Outlook (Revenue, USD Million, 2018 - 2030)

• In vivo Test
• Skin Prick Test
• Intradermal Test
• Patch Test
• In vitro Test

Allergy Diagnostics And Therapuetics Regional Outlook (Revenue, USD Million, 2018- 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Denmark
• Sweden
• Norway
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Thailand
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• UAE
• Kuwait

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com