Allergy Diagnostics Market Size

Allergy Diagnostics Market Size

Allergy Diagnostics Market size was valued at USD 5.4 billion in 2022 and is projected to witness more than 10.8% CAGR from 2023 to 2032 owing to increasing prevalence and high economic burden of allergic diseases.

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The benefits associated with allergic disease diagnosis such as reliability in disease screening and reduced severity of disease with a better diagnosis & management are forecasted to positively impact the industry progress. Risk factors comprising dietary influences or food allergens, inhaled allergens and drug allergens among others are contributing to the allergic reactions significantly.

Further, the economic burden of these food allergies cost around USD 25 billion each year in the U.S. The allergy diagnostic products are proved to be an ideal instrument to perform allergy evaluation. These diagnostic tests can be used to make decisions on the diagnosis and treatment of individuals with allergic diseases, including the prescription of drugs for relevant treatment therapies. Ongoing advancements have favored the evolution of these diagnostic tests that are associated with offering optimum specificity & sensitivity. This availability of unique and non-invasive diagnostic procedures are allowing ease and accuracy in early diagnosis and prevention of allergic disease. Reduced time minimized the risk of other infections during testing, and less pain & discomfort will further stimulate the adoption of the product.

Allergic disease includes number of conditions that are caused by the hypersensitivity of body's immune system to typically harmless substances present in the environment. This includes allergic rhinitis, asthma, different types of food and drug allergies, etc. Thus, the overall process to evaluate and determine the nature of an allergy to provide proper and early treatment to the patient can be considered as allergy diagnostics.

High cost of instruments used in allergy diagnostics and lack of awareness related to allergic diseases are some of the variables that are expected to hamper the market growth. Allergy diagnostic instruments including ELISA analysers, luminometers, and scanners among others are considerably costly attributable to integrated advance features that offer higher efficiency. Similarly, the fully automated ELISA analysers can cost up to USD 15,000. Hence, smaller diagnostic laboratories find it difficult to deploy such units thereby limiting the market expansion.