Latin America Allergy Diagnostics Market Report Description:
Latin America allergy diagnostics market report gives comprehensive outlook on allergy diagnostics across the country with special emphasis on key countries such as Brazil, Mexico, Argentina, Chile and Rest of Latin America. The report on global allergy diagnostics market gives historical, current, and future market sizes (US$ Mn) on the basis of test type, allergen, end user, and country. This report studies global allergy diagnostics market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global allergy diagnostics market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global allergy diagnostics market to better equip clients with possible investment opportunities across the country (country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global allergy diagnostics market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global allergy diagnostics products.
Latin America Allergy Diagnostics Market:
The Latin America allergy diagnostics market valued US$ 272.8 Mn 2018 and is poised to grow with a CAGR of 10.5%. Some of the key factors influencing the market growth include rising environmental pollution levels, increasing access for allergy diagnosis medical insurance, increase in aging population, rising incidences of allergy disease and growing lifestyle disorders. However, lack of awareness about allergic diseases and issues related to the affordability of allergy diagnostics instruments are factors inhibiting the market growth. In addition, growth in emerging economies provides huge growth opportunity for the market.
Rising Environmental Pollution Levels
It is well known that the prevalence of allergic diseases has increased in recent decades in the industrialized world. In effect, air pollution is a growing public health problem. The prevalence of allergic diseases has been increasing rapidly. Exposure to environmental pollutants may partially account for this increased prevalence. Rapid urbanization and increased energy consumption worldwide have exposed the human body to not only increased quantities of ambient air pollution, but also a greater variety of pollutants. Various adverse health outcomes such as allergic disease can be attributed to rapidly increasing air pollution levels.
Allergic reactions occur when a person’s immune system reacts to harmless substances called allergens in the environment. Thus, life style, exposure to certain allergens and to environmental contaminants or pollutants both indoors (e.g., tobacco smoke) and outdoors (air pollution), or exposure to microorganisms, may account for the observed increase in prevalence Exposure to traffic-related air pollutants as been implicated in asthma development, persistence, and exacerbation. This exposure is highly significant because increasingly large segments of the population worldwide reside in zones that have high levels of TRAP, including children since schools are often located in high traffic pollution exposure areas. Hence, rising environmental pollution levels increases allergic diseases and therefore increases demand for the market.
Brazil Accounts for Larger Market Revenue Share in Latin America Allergy Diagnostics Market
Brazil accounted for larger revenue share in global allergy diagnostics market with a CAGR of 10.5%. The growth in this country can be attributed to due to the increasing awareness, development in medical facilities, economic growth, and favorable government initiatives.
Key player’s profiles in the global allergy diagnostics market include:
- Thermo Fisher Scientific Inc
- ALK-Abelló A/S
- Bio-Rad Laboratories, Inc
- Omega Diagnostics Group PLC
- EUROIMMUN AG
- Siemens Healthcare GmbH
- Lincoln Diagnostics
- Danaher Corporation
- Stallergenes Greer
Latin America allergy diagnostics market is surging owing to expansion of their production facilities for allergy diagnostics to meet the demands of the customers in the market. For Instance, On May, 2018, Thermo Fisher Scientific acquired Phadia. The acquisition of Phadia is a major step forward in their strategy to enhance Thermo Fisher’s global presence in specialty diagnostics, one of the key growth platforms.
Key Findings of the Report:
- Latin America allergy diagnostics market expanding at significant CAGR over 2018 to 2025 owing to increasing incidences of allergy disease and rising lifestyle disorders
- Based on country, Brazil accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global allergy diagnostics market
By Test Type
- Skin Test
- Blood Test
By Allergen Type
- Inhaled Allergens
- Food Allergens
By End User
- Diagnostic Labs
- Academic Research Institutes
- Others (Clinics)
- Rest of Latin America
Key Features of the Report:
- The report provides granular level information about the market size, countries market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market