The global allergy diagnostics and therapeutics market are estimated to grow at a CAGR of 11.9% during the forecast period. A significant prevalence of allergic diseases is supporting to drive the growth of the global allergy diagnostics and therapeutics market across the globe. Allergy is considered as the most common chronic disease. In Europe, according to the European Academy of Allergy and Clinical Immunology (EAACI), up to 20% of patients with allergies are living with a severely debilitating form of their condition. These patients are struggling with the fear of a possible anaphylactic shock, asthma attack, or even death from an allergic reaction. More than 150 million Europeans suffer from chronic allergic diseases and are estimated that by 2025, more than 50% of all Europeans will suffer from allergy. Around 100 million Europeans suffer from allergic rhinitis and 70 million suffer from asthma. As per the International Primary Care Respiratory Group (IPCRG), Allergic rhinoconjunctivitis and allergic asthma are the first leading cause of loss of productivity worldwide followed by cardiovascular disease.
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Respiratory allergies are increasing worldwide, particularly in children. Today, 113 million EU citizens suffer from allergic rhinitis and 68 million from allergic asthma. 43% of patients with these conditions have sleep disturbances and 39% have difficulty in falling asleep. Respiratory allergies in Europe are increasing and affect around 20%–30% of the European population. Due to the mark able prevalence of allergic diseases, significant awareness programs have been witnessed over the years. For instance, in this context, national programmes, such as the Finnish Asthma Programme (1994-2004) and the Finnish Allergy Programme (2008-2018), which involve all stakeholders, have been effective in improving the management of patients suffering from these conditions and in reducing the costs and the impact of respiratory allergies on society as a whole. This, in turn, is driving the global allergy diagnostics and therapeutics market.
The Allergy Programme aims to educate and train physicians, pharmacists, and nurses in each Finnish municipal healthcare center about asthma and allergy care, prevention and diagnosis, and management. The more severe the symptoms of asthma, the greater the costs. Therefore, prevention and good control of the disease can considerably reduce costs. Moreover, the EFA Book on Respiratory Allergies is part of a broader 4-year initiative launched by the European Federation of Allergy and Airways Diseases Patients Association (EFA) in August 2010 to raise awareness of respiratory allergies. These programs are aimed at improving allergy diagnostics which ensures that all patients are tested in quality certified allergy testing centers. This contributes to the demand for effective diagnostics test at the healthcare centers, which in turn, is offering significant opportunity for the global allergy diagnostics and therapeutics industry.
Global Allergy Diagnostics and Therapeutics Market- Segmentation
By Product
- Instruments
- Consumables
By Drug Class
- Antihistamines
- Decongestants
- Corticosteroids
- Mast cell stabilizers
- Leukotriene inhibitors
- Nasal anticholinergic
- Immunomodulators
- Auto injectable epinephrine
- Immunotherapy
By End-User
- Diagnostic Labs
- Hospitals and Clinics
- Academic Research Institutions
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