The global allergy diagnostics and therapeutics market size is expected to reach USD 9.93 billion by 2028 according to a new study by Polaris Market Research. The report “Allergy Diagnostics and Therapeutics Market Share, Size, Trends, Industry Analysis Report, By Test (In vitro, In vivo); By Product; By Drug Class; By End-Use; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Rising population, increasing incidences of allergies, and growing healthcare expenditure drives the growth of the industry. Poor nutrition and environmental pollution have led to greater cases of allergies. The growing adoption of in vitro diagnostic tests and improvement in medical insurance policies has further supported the industry growth.
The industry has been impacted by the outbreak of COVID-19 due to lockdown, restriction on movement, reduced workforce, and operational challenges across the globe. There has been increasing adoption of telehealth solutions and virtual care to address delayed patient care during the pandemic.
On the basis of the test, the industry is segmented into in vitro and in vivo. The in vivo tests dominated the global industry in 2020. These tests provide reliable and valid diagnostic solutions by performing skin tests. The skin tests include exposure to standardized allergenic extracts through pricking and patch testing. These tests are quick, widely available, easy to use, and highly effective.
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The allergy drug class segment has been divided into antihistamines, corticosteroids, leukotriene inhibitors, nasal anticholinergics, decongestants, and others. The antihistamines segment holds the largest market share in 2020. Antihistamines are prescribed for treating symptoms associated with allergies.
North America holds the largest revenue share in the global market for allergy diagnostics and therapeutics in 2020 and is expected to maintain its dominance over the forecast period. Increasing cases of respiratory illness and the growing adoption of in vitro tests support the market growth in this region.
Industry players are collaborating with each other for research & development, strengthening industry presence, and technological innovation. The greater need to cater to growing customer requirements has encouraged industry participants to leverage new technologies to develop high-quality products.
Polaris Market Research has segmented the allergy diagnostics and therapeutics market report on the basis of test, product, drug class, end-use, and region:
Allergy Diagnostics and Therapeutics, Test Outlook (Revenue, USD Billion, 2016 – 2028)
Allergy Diagnostics and Therapeutics, Product Outlook (Revenue, USD Billion, 2016 – 2028)
Allergy Diagnostics and Therapeutics, Drug Class Outlook (Revenue, USD Billion, 2016 – 2028)
Allergy Diagnostics and Therapeutics, End-Use Outlook (Revenue, USD Billion, 2016 – 2028)
Allergy Diagnostics and Therapeutics, Regional Outlook (Revenue, USD Billion, 2016 – 2028)