The demand within the global market for allergy diagnostics has been rising on account of the growing culture of dust mites, bacterial agents, and other allergens, finds Transparency Market Research (TMR). The presence of a humongous number of vendors in the global allergy diagnostics market has generated new opportunities for market growth. The competitive landscape of the global allergy diagnostics market displays a picture of cutthroat competition. This is because a large population suffers from various kinds of injuries, and market vendors are aiming to capitalise on this huge consumer base. It is expected that a large number of vendors within the global allergy diagnostics market would resort to the use of inbound marketing tactics to gain a competitive edge.
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The global market for allergy diagnostics is expected to witness new mergers in the forthcoming years. This projection is based on the apparent benefits that the vendors could reap through collaboration and alliances. Furthermore, the market for allergy diagnostics shall become increasingly fragmented as new vendors make their way into the market. Some of the key vendors in the global allergy diagnostics market are Quest Diagnostics Inc., Omega Diagnostics Group Plc., Stallergenes Greer, and BioMerieux. These vendors in the global allergy diagnostics market are making serious efforts to manufacture improved products.
Transparency Market Research (TMR) predicts that the global allergy diagnostics market would expand at a stellar CAGR of 12.80% over the period ranging from 2016 to 2024.The total value of the global allergy diagnostics market is expected to reach US$3.8 bn by the end of 2024. On the basis of product, the market for assay kits has been rising at a stellar rate in recent times. Based on regions, the market for allergy diagnostics in North America is expected to grow at a robust rate in the years to come.
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Growing Incidence of Dust-Induced Allergies
Several factors could trigger allergies in humans and animals, making it important to have a swift anti-allergic mechanism. This factor has played s key role in the growth of the global allergy diagnostics market. Medical practitioners have asserted that allergies could be the cause several other chronic diseases, and there is a dire need to find a strong avert mechanism for allergic bodied. This factor has also created a plethora of growth opportunities within the global market for allergy diagnostics. The rising levels of pollution are also projected to aid the growth of the global allergy diagnostics market.
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Availability of Improved Testing Technologies
It is extremely important to find the root of an allergy, and the subsequent allergen that has caused it. Hence, the demand for diagnostics tests for allergies has been rising at a stellar pace in recent times. The presence of an expansive sector for in-vitro tests has also played a vital role in the growth of the global allergy diagnostics market. Academic research centers have emerged as key consumers of allergy diagnostic product. This factor has also emerged as a strong propeller of demand within the global allergy diagnostics market in recent times.
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The review is based on TMR’s report titled, “Allergy Diagnostics Market (Product - Assay Kits, Consumables, and Instruments; Allergen Type - Inhaled Allergens, Food Allergens, and Drug Allergens; Test Type - In-vivo and In-vitro tests; End Users - Hospitals, Diagnostic Laboratories, and Academic Research Institutes) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”.
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