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Esoteric Testing Market by Type, Technology, End User - Global Forecast to 2026

Esoteric Testing Market by Type, Technology, End User - Global Forecast to 2026

  • June 2021
  • 240 pages
  • ID: 5304233
  • Format: PDF
  • MarketsandMarkets

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The global esoteric testing market is projected to reach USD 36.3 billion by 2026 from USD 21.0 billion in 2021, at a CAGR of 11.6% during the forecast period. Market growth is largely driven by the rising incidence of chronic and infectious diseases, increasing use of esoteric DNA sequencing technologies in precision medicine, early diagnosis of cancer, and advancements in the personalized medicine. Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market. In contrast, inadequate reimbursements of the esoteric test may restrict market growth to a certain extent. The esoteric testing market is segmented based on type, technology, end user and region.

Infectious disease testing segment is expected to dominate the market during the forecast period and the genetic testing segment is also expected to grow at the highest CAGR during the forecast period.

Based on product, the esoteric testing market is segmented into infectious disease testing, endocrinology testing, oncology testing, genetic testing, toxicology testing, immunology testing, neurology testing, and other testing.Infectious disease testing segment accounted the largest share of the esoteric testing market.

The largest share of the segment is attributed to the increasing incidence of infectious diseases, technological innovations in molecular diagnostics, and improving healthcare infrastructure in developing nations.The genetic testing segment is expected to register the highest CAGR during the forecast period.

The fastest growth of the genetic testing segment is attributed to the advancements in the sequencing technologies such as NGS and increasing awareness.

CLIA segment to dominate the market during the forecast period.
Based on technology, esoteric testing market is segmented into chemiluminescence immunoassay (CLIA), enzyme-linked immunosorbent assay (ELISA), mass spectrometry, real-time PCR, flow cytometry, DNA sequencing, and other technologies.CLIA accounted for the largest share of the esoteric testing market in 2020.

The large share of this segment can be attributed to its advantages over other testing methods, such as high-performance levels, low detection limits, higher specificity, high signal intensity, and good precision.

Independent & reference laboratories segment to dominate the market during the forecast period.
Based on end user, the esoteric testing market is segmented into independent & reference laboratories and hospital-based laboratories.Independent & reference laboratories account for the largest share of the esoteric testing market.

The largest share is attributed to the high testing volumes. In addition, the ongoing automation, and digitalization of diagnostic laboratories, growing number of accredited laboratories, significant reimbursement coverage, and the competitive benefits offered by these providers are pushing the growth of the segment.

North America will dominate the market during the forecast period.
Geographically, the esoteric testing market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.In 2020, North America accounted for the largest share of the esoteric testing market.

The large share of the North American market can be attributed to the increasing per capita healthcare expenditure, presence of the leading market players, increasing use of rapid diagnostics, expanding geriatric population, and advancing precision medicine in the region.

The primary interviews conducted for this report can be categorized as follows:
• By Company Type - Tier 1: 48%, Tier 2: 40%, and Tier 3: 12%
• By Designation - C-level: 26%, D-level: 30%, and Others: 44%
• By Region - North America: 34%, Europe: 26%, Asia Pacific: 23%, and Rest of the World: 17%

List of Companies Profiled in the Report
• Labcorp (US)
• Quest Diagnostics (US)
• OPKO Health (US)
• H.U. Group Holdings, Inc. (Japan)
• Healius Limited (Australia)
• Sonic Healthcare (Australia)
• Mayo Foundation for Medical Education and Research (MFMER, US)
• Eurofins Scientific (Luxembourg)
• Stanford Clinical Pathology (US)
• Foundation Medicine (US)
• Kindstar Global (Beijing) Technology, Inc. (China)
• ARUP Laboratories (US)
• Georgia Esoteric & Molecular Laboratory, LLC (US)
• Thyrocare Technologies Ltd. (India)
• ACM Global Laboratories (US)
• BioAgilytix Labs (US)
• National Medical Services Inc. (NMS) (US)
• Baylor Esoteric and Molecular Laboratory (US)
• Cerba Xpert (Belgium)
• HealthQuest Esoterics (US)
• BUHLMANN Diagnostics Corp (BDC, US)
• BP Diagnostic Centre SDN BHD (Malaysia)
• Flow Health (US)
• Leo Labs, Inc. (India).

Research Coverage:
This report provides a detailed picture of the global esoteric testing market.It aims at estimating the size and future growth potential of the market across different segments, such as type, technology, end user and region.

The report also analyzes factors (such as drivers, restraints, opportunities and challenges) affecting market growth.It evaluates the opportunities in the market for stakeholders and provides details of the competitive landscape for market leaders.

The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total esoteric testing market. The report forecasts the revenue of the market segments with respect to four major regions.

Reasons to Buy the Report:

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on esoteric testing services offered by the top 24 players in the esoteric testing market. The report analyses the esoteric testing market by type, technology, end user and region.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various esoteric testing services across key geographic regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the esoteric testing market.
• Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players in the esoteric testing market.

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