Allergy Diagnostics Market Size

Allergy Skin Test Market Analysis

The Allergy Diagnostics Market size is estimated at USD 5.70 billion in 2024, and is expected to reach USD 9.80 billion by 2029, growing at a CAGR of 11.20% during the forecast period (2024-2029).

• The pandemic significantly impacted the growth of the allergic diagnostics market since several clinics that perform allergy diagnostic tests had to shut down temporarily due to the lockdown restrictions. For instance, according to an article published by the Clinical and Translational Allergy in January 2022, the pandemic had an impact on medical professionals who treated allergic patients in terms of diagnostic, management, and treatment techniques, including allergen immunotherapy (AIT) for food, insect venom, and respiratory allergies. Moreover, most allergy/immunology care was delayed or postponed or handled through virtual care.
• For patients with asthma of a certain severity, there was a limited provision for face-to-face visits under critical conditions. Such factors have impacted the market growth during the pandemic. However, as the pandemic restrictions are eased, the studied market is expected to witness significant growth in the coming years due to the increase in allergy cases and rapid technological advancements in allergy diagnostics.
• Certain factors that are propelling the market growth are increasing incidences of allergic diseases and environmental pollution. The rising incidences of allergic diseases such as hives, atopic dermatitis, allergic conjunctivitis, and various food allergies are expected to increase market growth. For instance, as per the January 2023 update by CDC, nearly 1 in 3 United States adults and more than 1 in 4 United States children reported having a seasonal allergy, eczema, or food allergy in 2021, according to new data from CDC’s National Center for Health Statistics. Almost 6% of US adults and children had a food allergy, with Black, non-Hispanic adults and children one of the most likely to report this type of allergy. Also, approximately 25.7% of adults had a seasonal allergy, 7.3% had eczema, and 6.2% had a food allergy. Thus, a high prevalence of allergy cases is likely to increase the demand for allergy diagnostics, thereby boosting market growth.
• Furthermore, the increasing focus of the companies on research and development activities to develop novel diagnostic products, tests, or kits to cater to high unmet medical needs is highly impacting the market’s growth. For instance, in May 2022, Amulet, a manufacturer of the smallest, fastest, and sleekest molecular detection technology, launched Allergy Amulet, a consumer brand with a signature wearable that alerts people to allergens in their food, and Amulet Scientific, a commercial brand that equips industry with a detection platform for identifying a range of molecular targets, including food toxins and environmental contaminants.
• Similarly, in October 2022, Scottish tech startup LiberEat secured USD 0.26 million (GBP 209 thousand) in grant funding from Innovate UK to accelerate the development of the Aberdeen-based firm’s allergen platform and further advance its machine learning capabilities.
• Thus, owing to the increase in the prevalence of allergy cases and the rise in investment as well as product launches for allergy detection, the studied market is expected to witness significant growth over the forecast period. However, the lack of awareness about allergic diseases and the affordability of allergy diagnostics are likely to impede the market growth over the forecast period.