The food allergy diagnosis & treatment market is estimated to be valued at USD 18,083.2 million by 2023 and expected to grow at a CAGR of 3.14% during the forecast period. Among food source, the seafood segment accounted for the largest market share. However, milk food source segment has been projected to grow at the highest CAGR on account of increasing cases of lactose intolerance in Europe and North America.
In the diagnosis segment, secondary diagnosis steps such as Polymerase Chain Reaction (PCR), Enzyme-linked ImmunoSorbent Assay (ELISA), and others are expected to garner larger market share in comparison to primary diagnosis steps which includes skin prick test, blood test, food elimination diet test, and others. The major factor responsible for the market growth is the growing awareness regarding food-borne allergies and their expensive screening costs.
However, the only bottleneck in the growth trajectory of the global food allergy diagnosis and treatment market are the lack of skilled technical workforce and limitations associated with ELISA testing, such as false positive result, resulting in recurring cost.
Segment analysis
The global food allergy diagnosis & treatment market has been segmented on the basis of food source, diagnosis, treatment, end-use, and region. On the basis of food source, the market has been divided into eggs, milk, peanuts, seafood, tree nuts, wheat, soy, and others. The adverse effects of egg allergy can vary from hives or rashes to a severe allergic reaction known as anaphylaxis. Milk allergy is most common in infants and children; however, it can develop at any age. Peanuts are the most common cause of food allergy. Tree nuts include almonds, walnuts, hazelnuts, pine nuts, pecans, and lychee nuts, among others. Wheat allergy is an allergic reaction caused by the consumption of wheat and food containing wheat. Soy allergy mainly starts in infancy with reaction to soy-based infant formula. Milk segment is projected to grow at the highest CAGR of 3.87% during the forecast period.
Based on diagnosis, the global food allergy diagnosis & treatment market is segmented into primary and secondary. The primary segment includes—skin prick test, blood test, food elimination diet test, and others. This segment is expected to grow at a CAGR of 3.40% over the forecast period.
Regional Analysis
Geographically, the global food allergy diagnosis & treatment market is segmented into Asia-Pacific, Europe, Americas, and the Middle East & Africa. As per MRFR analysis, Americas dominated the market, accounted for the largest share of the market in 2018, and expected to grow at a CAGR of 2.93%. Americas market is followed by Europe, which is accounting for the second largest number of shares in the global food allergy diagnosis & treatment market, as of 2018. Europe is estimated to reach USD 6,826.4 million by the end of 2023. Asia-Pacific is expected to have the largest market share during the forecast period and is also expected to grow with the highest CAGR of 4.56%, in 2018.
Key Findings of the Study:
The global food allergy diagnosis and treatment market is expected to reach USD 18,083.2 million by 2023 from US D 14,849.5 million in 2017 and is expected to register a CAGR of 3.41% during the forecast period from 2018 to 2023.
In 2017, the market was led by the Americas with a 50.79% share, followed by Europe and Asia-Pacific
On the basis of food source, the seafood segment accounted for the largest market share of 21.86% in 2017. The milk segment is expected to account for the highest CAGR of 3.87% during the forecast period.
The ELISA category accounted for the largest market share in the global level with a value of USD 5,240.7 million in 2017.
On the basis of treatment, the antihistamines segment accounted for the largest market share of 82.0% in 2017.
On the basis of end use the diagnostic centers segment valued at USD 10,612.8 million in 2017.
This research report provides insights into various levels of analyses such as industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the Global Food Allergy Diagnosis & Treatment Market, including the high-growth regions and their political, economic and technological environments. Furthermore, the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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