The Global Food Allergy Diagnostics & Therapeutics Market size was estimated at USD 5,364.95 million in 2022 and expected to reach USD 5,866.03 million in 2023, projecting growth at a CAGR of 10.23% to reach USD 11,694.09 million by 2030.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make better decisions. In this report, the years 2018 to 2021 are considered as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 are considered as the forecast period.

Cumulative Impact of COVID-19 Pandemic:

The impact of the COVID-19 pandemic has been felt across all industries worldwide. The global food allergy diagnostics & therapeutics market has also seen significant disruption due to the pandemic. Many countries have imposed restrictions on movement which have resulted in decreased visits to healthcare facilities for the diagnosis and treatment of food allergies. This has led to lower demand for diagnostic tests as well as therapeutic treatments such as immunotherapy or desensitization therapies. Additionally, disruptions in supply chains have caused shortages in key ingredients used in food allergy treatments. These factors have had a negative effect on the overall growth of the industry.

Cumulative Impact of Russia-Ukraine Conflict:

The ongoing conflict between Russia and Ukraine has had a significant impact on the global economy, including the food allergy diagnostics & therapeutics market. Many countries depend on imported foods from Russia and Ukraine; however, due to sanctions imposed by both sides, imports are becoming increasingly difficult for many countries to obtain. This has a direct impact on food allergy diagnostic tests as well as treatments that require specific ingredients from Russian or Ukrainian suppliers. Additionally, rising geopolitical tensions are causing instability in markets worldwide which is having a negative effect on investments in this sector from international investors.

Cumulative Impact of High Inflation:

The current global economic recession is leading to higher inflation rates across many countries worldwide which are having a direct impact on businesses operating within the sector, including those providing services related to diagnosing and treating food allergies. Higher costs lead to reduced access to services due to increased prices which can be detrimental for those with severe allergies who rely heavily upon diagnostic tests and treatments available through this sector. Additionally, higher costs could also cause companies operating within this sector to reduce spending on research and development projects?which could lead to slower progress in developing new technologies related to diagnosing and treating food allergies in the future.

Market Dynamics:

The market dynamics represent the ever-shifting landscape of the Global Food Allergy Diagnostics & Therapeutics Market by providing actionable insights into supply and demand levels. Taking such factors into account helps inform strategies, investments, and future developments to capitalize on opportunities or avoid potential pitfalls related to political, geographical, technical, social, and economic conditions. Such market observations also highlight consumer behaviors while influencing both manufacturing costs as well as consumer purchasing decisions.

  • Drivers
    • Growing incidences of allergic conditions among pediatric and adult populations
    • Increasing funds by organizations in food allergy diagnostics
    • Rising patient demand for in vitro diagnostic blood tests
  • Restraints
    • Limited awareness and less implementation of food allergic testing methods
  • Opportunities
    • Ongoing technological advancements in food allergy diagnostics and therapeutics
    • Increasing number of research and development initiatives for the development of drugs
  • Challenges
    • Stringent regulatory framework for food allergy diagnostics and therapeutics

Market Segmentation & Coverage:

    This research report categorizes the Global Food Allergy Diagnostics & Therapeutics Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:

  • Based on Product Type, the market is studied across Diagnostic Products, Diagnostic Tests Type, and Therapeutic Treatment Type. The Diagnostic Products is further studied across Consumables, Instruments, and Services. The Diagnostic Tests Type is further studied across In Vitro and In Vivo/Skin. The In Vivo/Skin is further studied across Patch Test and Skin Prick Test. The Therapeutic Treatment Type is further studied across Antihistamines and Epinephrine Auto-Injector.
  • Based on Technology, the market is studied across Enzyme-Linked Immunosorbent Assay and Polymerase Chain Reaction.
  • Based on Source, the market is studied across Eggs, Fish, Milk, Peanuts, Shellfish, Soy, Tree Nuts, and Wheat.
  • Based on End-User, the market is studied across Academic Research Institutes, Diagnostics Laboratories, and Hospitals & Clinics.
  • Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

Company Usability Profiles:

The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Food Allergy Diagnostics & Therapeutics Market, including 7 Drops Diagnostics, Inc., AESKU.GROUP GmbH, ALK-Abell? A/S, Allergy Therapeutics PLC, bioM?rieux SA, Eurofins Scientific (Ireland) Limited, EUROIMMUN Medizinische Labordiagnostika AG, HollisterStier Allergy by Jubilant Pharma Holdings Inc., HYCOR Biomedical, Indoor Biotechnologies, Inc., Lincoln Diagnostics, Inc., Medeca Pharma AB, Microbac Laboratories, Inc., Minaris Medical America, Inc., Neogen Corporatio, Nestl? Health Science, Omega Diagnostics Group PLC, Prota Therapeutics Pty. Ltd., R-Biopharm AG, Romer Labs Division Holding GmbH, ROXALL Medizin GmbH, Siemens AG, STALLERGENES GREER International AG, Tecan Trading AG, and Thermo Fisher Scientific Inc..

The report provides insights on the following pointers:

  • Market Penetration: Provides comprehensive information on the market offered by the key players
  • Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
  • Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
  • Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
  • Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
  • Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

  • What is the market size and forecast of the Global Food Allergy Diagnostics & Therapeutics Market?
  • What are the inhibiting factors and impact of COVID-19 shaping the Global Food Allergy Diagnostics & Therapeutics Market during the forecast period?
  • Which are the products/segments/applications/areas to invest in over the forecast period in the Global Food Allergy Diagnostics & Therapeutics Market?
  • What is the competitive strategic window for opportunities in the Global Food Allergy Diagnostics & Therapeutics Market?
  • What are the technology trends and regulatory frameworks in the Global Food Allergy Diagnostics & Therapeutics Market?
  • What is the market share of the leading vendors in the Global Food Allergy Diagnostics & Therapeutics Market?
  • What modes and strategic moves are considered suitable for entering the Global Food Allergy Diagnostics & Therapeutics Market?