Pune, India -- (SBWIRE) -- 11/13/2018 -- The Global Allergy Diagnostics Market is expected to reach USD 5.95 billion by 2023 expanding at a CAGR of 12.4% between 2017 and 2023 from USD 2.61 billion in 2016. The North America region accounted for the largest market share of approximately 40% in 2016 and is expected to remain dominant through the forecast period. The Latin America region is expected to grow at highest CAGR of 13% during the forecast period.

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An allergy is a hypersensitivity disorder of the human immune system. Allergen reactions come about when a person's immune system reacts to harmless substances called allergens in the environment. Key allergens that disturb the human immune system are dust mites excretion, pollen and pet dander. The different kinds of allergies are categorized as food allergy, skin allergy and dust allergy, allergy to insect stings, drug allergy, and mold allergy. Allergy diagnostic includes testing of skin, prick or blood testing, and is a method of for determining to what substances a person is allergic. Moreover, this market comprises numerous products that are used by diagnostic laboratories, hospitals, academic institutes, and allergists to detect various allergies.

The global allergy diagnostics market is driven by the factors such as rising environmental pollution, growing healthcare expenses and insurance cover for treatments, and significant rise in number of incidence of allergies. However, strict government regulations pertaining to medical devices and lack of awareness about allergy diseases are likely to act as restraining factors affecting the global allergy diagnostics market over the forecast period. Growing prevalence of allergic diseases and need for developing new therapies are expected to bring new opportunities for the major market players in the market.

Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of allergy diagnostic globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider.  The report provides insights into the market using analytical tools such as Porter's five forces analysis of allergy diagnostic market.

Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the allergy diagnostic market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the allergy diagnostics market to understand the present and future trends in this market and formulate their strategies accordingly.

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