According to FutureWise analysis the market for allergy diagnostics and therapeutics in 2023 is US$ 31.36 billion, and is expected to reach US$ 53.17 billion by 2031 at a CAGR of 6.80%.
Allergies are harmless substances that cause an allergic reaction from the immune system. Many individuals with allergens may also experience asthma symptoms, such as wheezing and difficulty breathing. The air spreads allergens around. They settle onto furniture, grass, pillows, mattresses, or floors. They differ in size and are measured in microns (also called micrometers). The rising incidence of allergies, such as common triggers like dust mites, pollen, and pet dander, is increasing and causing chronic illness. The severity of allergies varies, ranging from mild discomfort to a life-threatening condition known as anaphylaxis. Although there is no permanent cure for most allergies, treatments are available to relieve symptoms and improve quality of life.
The allergy diagnosis is based on a medical history of allergic symptoms and diagnostic tests. It is strongly suspected when two or more symptoms of watery rhinorrhea, sneezing, nasal obstruction, and nasal pruritus persist for ≥1 hour on most days. Immunotherapy is one of the most common treatment options for some allergy patients. There are two types of immunotherapy: sublingual immunotherapy (SLIT) and allergy shots. Allergy shots involve administering gradually increasing doses of allergens through injections over a period of time. The individual becomes progressively less sensitive to that allergen. Allergy shots can work well for some individuals with allergies to pollen, pets, dust, bees, other stinging insects, and asthma. Allergy shots do not usually work for allergies to food, medicines, feathers, hives, or eczema. Sublingual Immunotherapy (SLIT) is another alternative to treat allergies without the need for injections. Allergists give patients with small doses of an allergen under the tongue. This improves tolerance to the substance and reduces symptoms. SLIT is relatively safe and effective for treating nasal allergies and asthma. Also, several drugs are available to reduce allergy symptoms, such as antihistamines, decongestants, mast cell stabilizers, etc.
FutureWise Market Research has published a report that provides an insightful allergy diagnostics and therapeutics market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. According to the analysis conducted by FutureWise research analysts, allergy diagnostics and therapeutics market is estimated to register a considerable growth rate over the forecast period. This report lists the market segments and potential prospects available across this industry, in addition providing crucial information on the total valuation currently held by the industry. Moreover, this report will assist key management individuals in an organisation to enhance their decisions pertaining to business expansion as well as strategic changes for increasing customer base.