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The Worldwide Esoteric Testing Industry is Expected to Reach $36.3 Billion by 2026 at a CAGR of 11.6% from 2021

·10-min read

Dublin, July 07, 2021 (GLOBE NEWSWIRE) -- The "Esoteric Testing Market by Type (Infectious Disease, Endocrinology, Oncology, Toxicology, Immunology, Genetic Testing), Technology (MS, CLIA, ELISA, PCR), End User (Independent & Reference Laboratories, Hospital Laboratories) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

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 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.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Esoteric Testing Market Overview
4.2 Asia-Pacific: Esoteric Testing Market, by Technology and Country (2020)
4.3 Esoteric Testing Market: Geographic Growth Opportunities
4.4 Esoteric Testing Market: Regional Mix (2021-2026)
4.5 Esoteric Testing Market: Developed Vs. Developing Markets

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Geriatric Population and the Increasing Prevalence of Chronic and Infectious Diseases
5.2.1.2 Increasing Use of Esoteric Dna Sequencing Technologies in Precision Medicine and the Early Diagnosis of Cancer
5.2.1.3 Advancements in Esoteric Tests for Personalized Medicine
5.2.1.4 Increasing Research Funding for Precision Medicine, Genetic Analysis, and Personalized Medicine
5.2.1.5 Growing Number of Collaborations in the Esoteric Testing Market
5.2.2 Restraints
5.2.2.1 Inadequate Reimbursement
5.2.3 Opportunities
5.2.3.1 Emerging Technologies in Esoteric Testing
5.2.3.2 Growth Opportunities in Emerging Economies
5.2.4 Challenges
5.2.4.1 Dearth of Skilled Professionals
5.3 COVID-19 Impact Analysis
5.3.1 COVID-19 Health Assessment
5.4 Impact of COVID-19 on the Esoteric Testing Market
5.5 Regulatory Overview
5.5.1 North America
5.5.1.1 US
5.5.1.2 Canada
5.5.2 Europe
5.5.3 Asia-Pacific
5.5.3.1 Japan
5.5.3.2 India
5.5.3.3 China
5.6 Technology Analysis
5.7 Average Selling Price Trend
5.8 Patent Analysis
5.9 Value Chain Analysis
5.10 Supply Chain Analysis
5.11 Ecosystem Analysis of the Esoteric Testing Market
5.11.1 Role in the Ecosystem
5.12 Disruptive Technologies in the Market
5.13 Porter's Five Forces Analysis
5.13.1 Intensity of Competitive Rivalry
5.13.2 Bargaining Power of Suppliers
5.13.3 Bargaining Power of Buyers
5.13.4 Threat of Substitutes
5.13.5 Threat of New Entrants

6 Esoteric Testing Market, by Type
6.1 Introduction
6.2 Infectious Disease Testing
6.2.1 Rising Prevalence of Infectious Diseases to Drive Market Growth
6.3 Endocrinology Testing
6.3.1 Increasing Incidence of Diabetes to Drive the Adoption of Esoteric Tests
6.4 Oncology Testing
6.4.1 Rising Prevalence of Cancer to Drive the Market for Esoteric Testing
6.5 Genetic Testing
6.5.1 Advancements in Genomics and Proteomics to Support Market Growth
6.6 Toxicology Testing
6.6.1 Increasing Cases of Drug Abuse and Illicit Drug Consumption Have Increased the Demand for Esoteric Testing
6.7 Immunology Testing
6.7.1 Rising Prevalence of Autoimmune Diseases to Support Market Growth
6.8 Neurology Testing
6.8.1 Increasing Prevalence of Neurological Disorder to Drive Market Growth
6.9 Other Testing

7 Esoteric Testing Market, by Technology
7.1 Introduction
7.2 Chemiluminescence Immunoassay
7.2.1 Rising Geriatric Population to Aid Market Growth
7.3 Enzyme-Linked Immunosorbent Assay
7.3.1 Growing Number of Drug Discovery Activities to Drive Market Growth
7.4 Mass Spectrometry
7.4.1 Mass Spectrometry is Used in Endocrine Testing and Infectious Disease Diagnosis
7.5 Real-Time PCR
7.5.1 Increasing Use of QPCR for Various Diagnostic and Research Purposes to Drive Market Growth
7.6 DNA Sequencing
7.6.1 Rising Demand for Personalized Medicine to Aid Market Growth
7.7 Flow Cytometry
7.7.1 Rising Prevalence of Cancer, Hiv, and Hematologic Malignancies to Drive Market Growth
7.8 Other Technologies

8 Esoteric Testing Market, by End-user
8.1 Introduction
8.2 Independent & Reference Laboratories
8.2.1 Independent & Reference Laboratories are the Largest End-users of Esoteric Tests
8.3 Hospital-Based Laboratories
8.3.1 Hospital-Based Laboratories are More Accessible and Offer Test Results in a Shorter Time Period

9 Esoteric Testing Market, by Region

10 Competitive Landscape
10.1 Overview
10.2 Key Player Strategies/Right to Win
10.2.1 Overview of Strategies Adopted by Key Esoteric Testing Laboratories
10.3 Revenue Analysis
10.4 Market Share Analysis
10.5 Company Evaluation Quadrant (Major Players)
10.5.1 Stars
10.5.2 Pervasive Players
10.5.3 Emerging Leaders
10.5.4 Participants
10.6 Company Evaluation Quadrant (SMEs/Start-Ups)
10.6.1 Progressive Companies
10.6.2 Starting Blocks
10.6.3 Responsive Companies
10.6.4 Dynamic Companies
10.7 Competitive Benchmarking
10.7.1 Company Technology Footprint
10.7.2 Company Testing Footprint
10.7.3 Company Regional Footprint
10.7.4 Company Footprint
10.8 Competitive Scenario and Trends
10.8.1 Deals
10.8.2 Service Launches & Approvals
10.8.3 Other Developments

11 Company Profiles
11.1 Major Players
11.1.1 Labcorp
11.1.1.1 Business Overview
11.1.1.2 Services Offered
11.1.1.3 Recent Developments
11.1.1.4 Analyst's View
11.1.1.4.1 Key Strengths/Right to Win
11.1.1.4.2 Strategic Choices Made
11.1.1.4.3 Weaknesses and Competitive Threats
11.1.2 Quest Diagnostics
11.1.2.1 Business Overview
11.1.2.2 Services Offered
11.1.2.3 Recent Developments
11.1.2.4 Analyst's View
11.1.2.4.1 Key Strengths/Right to Win
11.1.2.4.2 Strategic Choices Made
11.1.2.4.3 Weaknesses and Competitive Threats
11.1.3 Opko Health, Inc.
11.1.3.1 Business Overview
11.1.3.2 Services Offered
11.1.3.3 Recent Developments
11.1.3.4 Analyst's View
11.1.3.4.1 Key Strengths/Right to Win
11.1.3.4.2 Strategic Choices Made
11.1.3.4.3 Weaknesses and Competitive Threats
11.1.4 H.U. Group Holdings, Inc.
11.1.4.1 Business Overview
11.1.4.2 Services Offered
11.1.4.3 Recent Developments
11.1.5 Healius Limited
11.1.5.1 Business Overview
11.1.5.2 Services Offered
11.1.5.3 Recent Developments
11.1.6 Sonic Healthcare Limited
11.1.6.1 Business Overview
11.1.6.2 Services Offered
11.1.6.3 Recent Developments
11.1.7 Mayo Foundation for Medical Education and Research (Mfmer)
11.1.7.1 Business Overview
11.1.7.2 Services Offered
11.1.7.3 Recent Developments
11.1.8 Eurofins Scientific
11.1.8.1 Business Overview
11.1.8.2 Services Offered
11.1.8.3 Recent Developments
11.1.9 Stanford Health Care (Stanford Clinical Pathology)
11.1.9.1 Business Overview
11.1.9.2 Services Offered
11.1.9.3 Recent Developments
11.1.10 Foundation Medicine, Inc.
11.1.10.1 Business Overview
11.1.10.2 Services Offered
11.1.10.3 Recent Developments
11.1.11 Kindstar Global (Beijing) Technology, Inc.
11.1.11.1 Business Overview
11.1.11.2 Services Offered
11.1.11.3 Recent Developments
11.1.12 Arup Laboratories
11.1.12.1 Business Overview
11.1.12.2 Services Offered
11.1.12.3 Recent Developments
11.1.13 Georgia Esoteric & Molecular Laboratory, LLC
11.1.13.1 Business Overview
11.1.13.2 Services Offered
11.1.13.3 Recent Developments
11.1.14 Thyrocare Technologies Limited
11.1.14.1 Business Overview
11.1.14.2 Services Offered
11.1.15 Acm Global Laboratories
11.1.15.1 Business Overview
11.1.15.2 Services Offered
11.1.15.3 Recent Developments
11.2 Other Players
11.2.1 Bioagilytix Labs
11.2.1.1 Services Offered
11.2.2 Bp Diagnostic Centre Sdn. Bhd.
11.2.2.1 Services Offered
11.2.3 Nms Lab
11.2.3.1 Services Offered
11.2.4 Baylor Esoteric and Molecular Laboratory
11.2.4.1 Services Offered
11.2.5 Healthquest Esoterics
11.2.5.1 Services Offered
11.2.6 Cerba Xpert
11.2.6.1 Services Offered
11.2.7 Buhlmann Diagnostics Corp
11.2.7.1 Services Offered
11.2.8 Leo Labs, Inc.
11.2.8.1 Services Offered
11.2.9 Flow Health
11.2.9.1 Services Offered

12 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/prp6z1

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