The global allergy diagnostics and therapeutics market size was valued at USD 25,752.6 million in 2014. Increasing incidences of allergic diseases coupled with demand for in vitro diagnostic blood test is posed to drive the industry growth in coming years. According to estimates published by the World Health Organization (WHO), around 40 million patients were affected by inhaled allergies in 2012, in the U.S. alone and the number is expected to grow over the forecast period contributing towards the adoption of diagnostics globally.
Furthermore, factors such as changing lifestyle, increasing indoor and outdoor pollution, dietary habits, and urbanization contribute to the increasing incidences of allergic conditions. The introduction of technologically advanced diagnostic and therapeutic products which offers highly sensitive and accurate results is expected to boost the market growth over the forecast period.
Allergy diagnostics product penetration & future growth opportunities, by allergen type
Type of Allergen Insights
Growing global incidences of respiratory allergies and asthma are responsible for the dominance of inhaled allergen segment as of 2014. This segment is expected to grow at fastest rate owing to, the increasing demand for allergy testing and introduction of specific allergen for the detection of allergy. Drug allergies segment is expected to grow at over 11.0% during the forecast period.
Test Type Insights
In vivo test, owing to associated benefits such as ease of use, time efficiency, wider availability and sensitivity for clinically valid allergies held over 51.0% of share in terms of revenue in 2014. Skin prick test accounted for relatively larger revenue share as of 2014 owing to greater adoption by healthcare professionals and patients. In addition, rising applicability in food allergy detection, specific IgE-mediated allergy testing is further expected to provide growth platform to this market.
In vitro test segment is expected to grow lucratively in coming years owing to increasing demand for less invasive diagnostic methods, rising lab automation, coupled with highly sensitive & accurate results. Industry players are concentrating in providing allergy specific solutions, accurate result oriented devices in a vain to capitalize market growth.
Product segment includes instruments, consumables, and services. Consumables segment dominated the overall industry in 2014 in terms of revenue share at over 57.0% as they are an indispensable component in allergy detection. Technological advancements such as allergen microarray kits which are more sensitive and offers individualized patient profiling & monitoring. In addition, the introduction of products such as MeDALL allergen-chip associated with enhanced sensitivity specificity, and faster diagnosis are high impact rendering factor of allergy diagnostics and therapeutics market.
Allergy diagnostics and therapeutics caters various sectors including academic research studies, hospitals, and diagnostic laboratories. As of 2014, diagnostic laboratories held the largest revenue share of over 50.0% due to extensive utilization of immunoassay tests in allergy diagnosis.
In addition, advancements in screening techniques enabling accurate disease diagnosis and stratification for appropriate treatment is expected to further augment growth opportunities for this segment. Hospital segment is expected to be the fastest growing segment in terms of revenue share due to increasing penetration, supportive government funding, and rising healthcare expenditure.
Therapeutic Drug Class Insights
The global market dominated by antihistamines as of 2014, due to associated benefits with its usage and wide applications in the treatment of allergy diseases. Immunotherapy segment expected to be the fastest growing segment with CAGR of 6.4% owing to increasing demand for sublingual vaccines , extensive drug pipeline, ongoing clinical trials of monoclonal antibodies for the treatment of allergic disorders and growing awareness amongst patients.
North America dominated the overall industry in terms of revenue in 2014 at over 39.0%. Higher incidence of respiratory allergic disorders, awareness level pertaining to allergy diagnostics and rising adoption of in vitro blood tests are attributing to the largest revenue share of this region. The European market is also expected to show positive growth due to developed pharmaceutical industry and increasing demand for therapeutics. Growing geriatric population and rising incidences of allergic conditions are also contributing to the aforementioned growth.
Asia-Pacific, on the other hand, is expected to be the fastest growing regional industry, by registering CAGR of over 12.0% in coming years due to the presence of high unmet needs, improvising healthcare infrastructure and demand for minimally invasive diagnostic tools from the consumer end.
Competitive Market Share Insights
Some key players in this market include bioMerieux, Thermo Fisher Scientific, Danaher Corporation, Omega Diagnostics, Hitachi Chemical Diagnostics, Stallergenes Greer, Siemens Healthcare, Lincoln Diagnostics, Hycor Biomedical, HOB Biotech Group and Alcon Laboratories.
Pertinent segments are expected to experience lucrative growth primarily owing to, the increasing automation in allergy diagnostics. For instance, in July 2015, Thermo Fisher launched the Phadia 2500E Laboratory System which offers better diagnostic solutions in order to gain a competitive advantage over other players. In addition, participants are now concentrating in providing allergy specific solutions, accurate result oriented devices in order to capitalize on unmet consumer needs.
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