The global food allergy diagnostics and therapeutics market is projected to exhibit a significant growth, at a CAGR of around 8.2%, during the forecast period. The global food allergy diagnostics and therapeutics market is expected to show potential growth during the forecast period. There are various pivotal factors that are driving the global food allergy diagnostics and therapeutics market, which includes the rising prevalence of food allergies, sedentary lifestyle and unhealthy dietary habits, and rising level of stress. Stress may activate allergic reactions in the gut, and depression or anxiety may aggravate symptoms in inflammatory disorders of the intestine.
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By occupation, professionals that are common across public service industries (such as healthcare workers; teaching professionals and public service professionals) show higher levels of stress as compared to all other professionals. According to the Health and Safety Executive (HSE) in Great Britain, the total number of cases of work-related stress, depression or anxiety was 602,000, a prevalence rate of 1,800 per 100,000 workers in 2018. Among which, the number of new cases was 246,000, an incidence rate of 740 per 100,000 workers. Likewise, an increased level of stress has been reported in the US. For instance, as per the American Institute of Stress (AIS), several studies demonstrated that job stress is the key source of stress among adults in the US, which has even intensified in the last decade.
Other than job stress, rising prevalence of OCD, PTSD, acute stress disorder and anxiety disorders are other conditions that require proper medications and therapy thereby, driving the growth of the food allergy diagnostics and therapeutics market in North America. As per the report of the National Alliance on Mental Illness, nearly 1.2% of US adults experience OCD every year. In the overall prevalence of OCD among adults, women are more prone to be affected by OCD in comparison to men. The OCD often begins in childhood, adolescence or early adulthood stage of an individual’s life. The average age when the symptoms of OCD appear is nearly 19 years old. In addition, PTSD affects approximately 3.5% of the US adults and an estimated one in 11 people are diagnosed with PTSD in their lifetime, as per the American Psychiatric Association.
According to the WHO Europe findings, throughout Europe, stress at work is common. Low job control (less ability of an individual to influence what happens in its work environment) and negative geopolitical conditions are the major sources of stress among the citizens across Europe. Further, according to the WHO, almost 83 million people are affected annually by mental disorders among the adult population of Europe (aged 18-65), where female rates are higher than males. This involves the high demand for products which can bring down the level of stress and anxiety among people. Therefore, the increase in the demand for herbal pills has given manufacturers an opportunity to expand their reach among the population.
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Global Food Allergy Diagnostics and Therapeutics Market-Segmentation
By Diagnostic Type
· Instruments
· Test Kits
By Therapeutics
· Antihistamines
· Decongestant
· Epinephrine Auto-injector
· Others (Corticosteroids)
By End-User
· Academic and Clinical Research Centers
· Diagnostic Centers
· Hospitals and Clinics
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
