News

Healthcare

Staff Reporter

, APAC

Published:

6 months ago

Photo from Coley Christine on Unsplash

Allergy diagnostics market to rise by 11% CAGR until 2029

APAC is expected to register the highest CAGR during the forecast period.

Revenue for the allergy diagnostics market is expected to increase from $5.3b this year to $9.8b by 2029, representing a compound annual growth rate (CAGR) of 11%.

The report by MarketsandMarkets revealed that the market’s growth is driven by a rise in initiatives and investments for allergy research, an increase in home care allergy test kits, and the establishment of new facilities by hospitals and clinics.

ALSO READ: Global orthodontic and orthopaedic market projected to rise at 9% CAGR until 2028

Meanwhile, The Asia Pacific (APAC) region is projected to register the highest CAGR during the forecast period.

The report mentioned that developing healthcare infrastructure, lifestyle changes and climatic conditions, increased ozone and industrial pollution levels, and the rising demand for quality medical care are some of the top factors driving the regional market’s growth.

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