The global food allergy diagnostics and therapeutics market size is expected to reach USD 13.28 billion by 2030, registering a CAGR of 8.0% during the forecast period, according to a new report by Grand View Research, Inc. The market is expected to grow in the coming years owing to increasing incidence of food allergies coupled with rising demand for products for management of these conditions.
Food Allergy Diagnostics And Therapeutics Market Report Highlights
- Therapeutics segment dominated the market in 2023 due to growing demand for antihistamines and epinephrine auto-injector
- Diagnostic segment includes instruments, consumables, and services, wherein consumables expected to grow at the fastest CAGR during the forecast period
- The most common tests used to diagnose food allergies are skin prick tests and blood tests
- Peanut allergen source segment is anticipated to register lucrative growth over the forecast period, owing to novel product launches coupled with rising incidence of peanut allergies worldwide.
- Hospitals & clinics dominated the food allergy diagnostics & therapeutics market in 2023 owing to increase in number of hospitalizations due to severe allergic conditions
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Medical was the largest application for PEG, accounting for more than 40% of market share in 2022. Superior blending, hygroscopicity, and non-toxic properties of PEG have resulted in high demand for the chemical in numerous pharmaceutical products such as tablets and ointments. Increasing pharmaceutical expenditure, particularly in emerging economies of India, China, and Brazil, is expected to boost PEG market over the forecast period. Growing demand for paints & coatings coupled with the increasing use of PEG as a solvent due to its low VOC emissions is anticipated to fuel market growth over the next six years.
However, administering epinephrine using an auto-injector during the early stage of anaphylaxis might help avoid any serious complications. Treatment for food allergy costs around USD 25 billion annually in the U.S. Development of cost-effective in vitro diagnostic tests for detection of allergy is expected to fuel the demand for diagnostic products.
List of major companies in the Food Allergy Diagnostics And Therapeutics Market
- Astellas Pharma, Inc.
- Aimmune Therapeutics
- Meridian Medical Technologies
- ALK-Abelló Ltd
- Medeca Pharma AB
- bioMeriux SA
- Omega Diagnostics Group PLC
- HYCOR Biomedical
- HOB Biotech Group Corp Ltd.
- Cambridge Allergy Ltd
- Medeca Pharma AB
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We have segmented the global artificial food allergy diagnostics and therapeutics market based on product, allergen source, end-use, and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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