Market forecast firm Markets and Markets predicts that the food allergy diagnostics market will nearly double over the next five years reaching to higher than $2.2 billion in 2019. The market includes assay kits, consumables, and instruments used to diagnose and discern a treatment course for allergies.
“Increasing global incidence of allergic diseases, rising environmental pollution, and rapidly increasing global population of children aged 14 years and below (who are more susceptible to allergic diseases) are important growth drivers for the global market,” the report states. The largest share of the allergy diagnostics market will remain the Americas, specifically North America; especially as access to health insurance that covers allergies increases. The Asian market is also expected to grow rapidly.
Markets and Markets is expecting the allergy test and diagnostics market to grow by at least 12 percent per year, from its current $1.2 billion to over $2.2 billion by 2019.
The report, meant largely for investors, is available to purchase on the MarketandMarkets.com website.