Allergy Diagnostics Market in Asia Pacific to be most lucrative market in the near future


Allergies are one of the most common chronic diseases around the world. Symptoms of allergies may range from simple reactions such as watery eyes, runny nose, and rashes on the skin, etc. to sometimes more serious anaphylactic reactions. According to a study by Circassia – a leading allergy immunotherapy company, in 2014 around 1 Bn people in the world suffer from some form of allergy, and have been affected at work, and social life. According to American Academy of Allergy Asthma and Immunology (AAAAI) around 30-40% of the world’s population suffered from allergies in 2015. Among all the allergies, inhaled allergies are most prevalent around the world, with an estimated 500 Mn people in the world suffered from allergic rhinitis in 2015, and 300 Mn from Asthma, according to WHO estimates. Food allergy prevalence is on the rise, and an estimated 200-250 Mn people in the world suffered from Food allergies in 2015 according to Food Allergy Research& Education (FARE) statistics.

North America dominated the global Allergy Diagnostics market, with a market share of over40% in 2015. According to American Academy of Allergy Asthma and Immunology (AAAAI) around 26 million people in the U.S., suffered from allergic rhinitis in 2015, while 15 Mn people suffered from food allergies in 2015. Rising prevalence of inhaled allergies in the region owing to factors such as increased hygiene in these countries leading to lack of exposure to allergens in the early ages, and changing climatic conditions and warmer climates leading to longer and stronger pollen seasons, and technological advances in the field of allergy diagnostics, high per capita healthcare expenditure, and increasing demand for better healthcare facilities is expected to drive the growth of the allergy diagnostics market in North America.

Europe was the second most dominant market, accounting fora share of over25%in terms of revenue in 2015. According to the allergy organization of U.K., an estimated 150 Mn people in Europe suffered from allergies, of which around 17 Mn suffered from food allergies in 2015. In U.K., there were around 5.4 Mn patients suffering from Asthma in 2015. Increasing prevalence of inhaled allergies, and rising incidences of food allergies in expected to drive the growth of allergy diagnostics market in this region during the forecast period of 2016-2024.

The market in Asia Pacific is projectedto expandat a phenomenalCAGR during the forecast period from 2016 to 2024.According to Indian Council of Medical Research (IMCR), in 2014, around 17 Mn people in India were suffering from asthma. Food allergies are the most prevalent form of allergies in Asia Pacific region. Changing eating habits, and increased consumption of processed foods, are some factors responsible for this upsurge in the prevalence of food allergies in this region. According to statistics from World Bank, around 84 Mn people in Asia Pacific region suffered from food allergies in 2011.Increasing prevalence of food allergies especially in countries such as Australia, New Zealand, Japan, Singapore and Thailand, along with increasing inhaled allergies in countries like China, and India are expected to drive the allergy diagnostics market during the forecast period of 2016-2024.

Major players in the global Allergy Diagnostics market include C Thermo Fischer Scientific, Inc., Quest Diagnostics, Inc., Stallergenes Greer, BioMerieux SA, Omega Diagnostics Group Plc., Hitachi Chemical Diagnostics, Inc., Siemens Healthineers, Lincoln Diagnostics, Inc., and HAL Allergy Group.