Market Synopsis:

According to Market Research Future (MRFR), the global food allergy diagnosis & treatment market is estimated to acquire the market value of USD 1830.05 million, expanding at a CAGR of 5.10% during the evaluation period 2023.

The rising incidences of food-borne diseases owing to the increasing environmental pollution is anticipated to be a key factor driving the Food Allergy Diagnosis & Treatment Industry 2023. The number of patients suffering from food allergies due to changing lifestyle is likely to increase the demand for advanced diagnostic methods that can boost the market in the review period. Furthermore, increasing awareness about various efficient treatment for food allergies is projected to surge the demand for treatment methods, which is anticipated to strengthen the market. Other salient factors contributing to the rise in demand for allergy diagnosis treatment are modernization, food globalization, and higher disposable income, which can grow the market.

On the other hand, the high cost of treatment is predicted to hamper market growth during the forecast period. However, increasing R&D programs with above-mentioned factors are expected to counter the restraining causes which can increase the diagnosis demand and grow the market.

Market Segmentation:

The segmental analysis of the global food allergy diagnosis & treatment market is done by diagnosis, food source, end-use, and treatment.

The diagnosis-based segments of the global food allergy diagnosis & treatment market are primary and secondary. Among all, the secondary segment is projected to acquire the largest market share, with primary segment likely to exhibit the highest CAGR in the review period.

The food source-based segments of the global food allergy diagnosis & treatment market are eggs, milk, peanuts, seafood, tree nuts, wheat, soy, and others. Among all, the seafood segment is projected to acquire the largest market share during the evaluation period.

The end-use-based segments of the global food allergy diagnosis & treatment market are diagnostic centers, hospitals & clinics, and research institutes. Among all, the hospital & clinics segment is likely to procure the largest market share during the forecast period.

The treatment-based segments of the global food allergy diagnosis & treatment market are adrenalin & corticosteroids, and antihistamines. Among all, the antihistamines segment is anticipated to procure the largest market share during the forecast period.

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Regional Analysis:

Based on the region, the global market is segmented into the Americas, Asia-Pacific, Europe, and the Middle East & Africa.

According to the analysis, the market is anticipated to be dominated by the Americas, owing to the increasing cases of anaphylaxis. Moreover, increasing initiatives taken by the government to control food allergy cases is likely to support the regional market expansion.

Europe market is anticipated to acquire significant market share in the projection period due to the increasing awareness of food allergy. Furthermore, increasing healthcare expenditure and rising R&D are predicted to contribute to the expansion of the regional market.

The APAC region is expected to grow at the fastest region with the highest CAGR in the review period owing to the contribution of emerging economies that have high adoption rates of the latest technologies.

The MEA region is anticipated to grow at a CAGR of 4% in the evaluation period. The economic stability in the Middle East countries can contribute to market growth during the forecast period.

Top Key Players:

Some of the prominent players in the food allergy diagnosis & treatment market are Intertek Group PLC (U.K.), SGS S.A. (Switzerland), Microbac Laboratories, Inc. (U.S.), and AsureQuality Limited (New Zealand).

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