Global Esoteric Testing Market, By Type (Immunology Testing, Genetic Testing, Infectious Diseases, Endocrinology test, Oncology test, Toxicology Testing, Neurology Testing, Others), Technology (Chemiluminescence Immunoassay, Enzyme-Linked Immunosorbent Assay, Flow Cytometry, Mass Spectrometry, Real Time–Polymerase Chain Reaction , Radioimmunoassay, Others), Laboratory Type (Independent and Reference Laboratories, Hospital Laboratories) – Industry Trends and Forecast to 2029
Market Analysis and Size
According to WHO estimates from 2012, Africa, Asia, Central and South America account for more than 60% of all new cancer cases each year. Esoteric testing typically requires the use of complex apparatus and materials, as well as trained personnel to perform and evaluate results. These tests are generally more expensive and are ordered less frequently than standard tests.
Data Bridge Market Research analyses that the esoteric testing market is expected to reach the value of USD 37.21 billion by the year 2029, at a CAGR of 12.25% during the forecast period. The rising prevalence of chronic diseases, as well as an increase in the geriatric population, is propelling the esoteric testing market forward. North America accounted for a significant share of the esoteric testing market and is expected to maintain its dominance during the forecast period, owing to an increase in chronic disease prevalence, an increase in the number of diagnostic tests, and technological advancement in esoteric testing
Market Definition
Esoteric testing is the examination of 'rare' molecules or substances. It is not a routine test in a clinical laboratory. These tests are used when more information than routine lab testing is needed for proper disease diagnosis, establishing a prognosis, or selecting and supervising a therapeutic treatment. Esoteric testing necessitates the use of skilled personnel to perform the test and analyse the results due to the use of sophisticated chemicals and instruments.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2014 - 2019)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Type (Immunology Testing, Genetic Testing, Infectious Diseases, Endocrinology test, Oncology test, Toxicology Testing, Neurology Testing, Others), Technology (Chemiluminescence Immunoassay, Enzyme-Linked Immunosorbent Assay, Flow Cytometry, Mass Spectrometry, Real Time–Polymerase Chain Reaction , Radioimmunoassay, Others), Laboratory Type (Independent and Reference Laboratories, Hospital Laboratories)
|
|
Countries Covered
|
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
|
|
Market Players Covered
|
Quest Diagnostics (US), OPKO Health, Inc. (US), MIRACA HOLDINGS Inc.(Japan) Myriad Genetics, Inc. (US) Sonic Healthcare (Australia) Healthscope, Foundation Medicine (US) ACM Global Laboratories (India) ARUP Laboratories (US) Fulgent Genetics (US) Invitae Corporation (US) Mayo Foundation for Medical Education and Research (US) Fresenius Medical Care (Germany) Charles River Laboratories (US). Pacific Bio labs, Inc.(US) Merck KGaA (Germany) WuXi AppTec (China) North American Science Associates Inc. (US) and Nelson Laboratories, LLC (US)
|
Esoteric Testing Market Dynamics
Drivers
- The rise in the cases of infectious diseases
During the forecast period of 2022-2029, the growing number of infectious disease patients is expected to accelerate the growth of the esoteric testing market. Growing awareness of personalised medicine, on the other hand, and advancements in product technologies will boost various opportunities, resulting in the growth of the esoteric testing market during the forecast period.
- The increase in demand of ELISA and (RT-PCR)
The global esoteric testing market is primarily driven by an increase in the prevalence of chronic, infectious, and rare genetic diseases, an increase in demand for enzyme linked immunosorbent assay (ELISA) and real time polymerase chain reaction (RT-PCR), an increase in funding from private and government organisations for diagnostic service centres, and technological advances in esoteric testing.
- Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the esoteric testing market.
Opportunities
Increasing personalised medicine, mass cytometry development, and the combination of cell- and bead-based flow cytometry technologies, improving healthcare infrastructure in emerging markets, and the rise of miniaturised and technologically advanced devices will all create new opportunities for the esoteric testing market.
Restraints/Challenges
During the forecast period, market growth is expected to be limited by the high cost of esoteric testing and a scarcity of skilled technicians. In addition, a lack of required infrastructural facilities in underdeveloped economies will impede market growth.
This esoteric testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the esoteric testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Esoteric Testing Market
The sudden outbreak of the COVID-19 pandemic has slowed the growth of the esoteric testing market. Companies faced operational and logistical challenges in the first quarter of 2020 as a result of lockdowns. With the massive influx of COVID-19 patients and tremendous demand for mass scale diagnosis in various regions, companies escalated and shifted their focus away from esoteric tests and toward COVID-19 diagnostic offerings.
Recent Development
- Labcorp will acquire Myriad Genetics' autoimmune business unit in May 2021.
- Quest Diagnostics partnered with GRAIL in February 2021 to support Galleri, a first-of-its-kind multi-cancer early detection blood test.
- Scarlet Health, an in-home diagnostic, fully integrated digital platform, was launched in the United States by OPKO Health Inc. (BioReference Laboratories) in January 2021.
- Miraca Holdings, a subsidiary of H.U. Group Holdings, partnered with Chugai Pharmaceutical Co., Ltd. in March 2019.
Global Esoteric Testing Market Scope
The esoteric testing market is segmented on the basis of type, technology and laboratory type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Immunology testing
- genetic testing
- Infectious diseases
- Endocrinology test
- Oncology test
- Toxicology testing
- Neurology testing
- others
Based on type, the esoteric testing market is segmented into immunology testing, genetic testing, infectious diseases, endocrinology test, oncology test, toxicology testing, neurology testing and others.
Esoteric testing
- chemiluminescence immunoassay
- enzyme-linked immunosorbent assay
- flow cytometry
- mass spectrometry
- real time–polymerase chain reactionPCR
- radioimmunoassay
- others
Esoteric testing market has also been segmented based on the technology into chemiluminescence immunoassay, enzyme-linked immunosorbent assay, flow cytometry, mass spectrometry, real time–polymerase chain reactionPCR, radioimmunoassay and others.
Laboratory type
- independent and reference laboratories
- hospital laboratories
On the basis of laboratory type, the esoteric testing market is further classified into independent and reference laboratories and hospital laboratories.
Esoteric Testing Market Regional Analysis/Insights
The esoteric testing market is analysed and market size insights and trends are provided by country, type, technology and laboratory type as referenced above.
The countries covered in the esoteric testing market report are U U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America accounted for a significant share of the esoteric testing market and is expected to maintain its dominance during the forecast period, owing to an increase in chronic disease prevalence, an increase in the number of diagnostic tests, and technological advancement in esoteric testing. However, Asia-Pacific is expected to grow at the fastest rate during the forecast period due to an increase in the prevalence of chronic disease, an increase in government initiatives for diagnostic services, a surge in demand for enzyme-linked immunoassay ELISA and reverse transcription polymerase chain reaction RT-PCR tests, and an increase in population awareness for self-diagnostic testing..
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The esoteric testing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for esoteric testing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the esoteric testing market. The data is available for historic period 2010-2020.
Competitive Landscape and Esoteric Testing Market Share Analysis
The esoteric testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to esoteric testing market.
Some of the major players operating in the esoteric testing market are:
- Quest Diagnostics (US)
- OPKO Health, Inc. (US)
- MIRACA HOLDINGS Inc.(Japan)
- Myriad Genetics, Inc. (US)
- Sonic Healthcare (Australia)
- Healthscope, Foundation Medicine (US)
- ACM Global Laboratories (India)
- ARUP Laboratories (US)
- Fulgent Genetics (US)
- Invitae Corporation (US)
- Mayo Foundation for Medical Education and Research (US)
- Fresenius Medical Care (Germany)
- Charles River Laboratories (US).
- Pacific Bio labs, Inc.(US)
- Merck KGaA (Germany)
- WuXi AppTec (China)
- North American Science Associates Inc. (US)
- Nelson Laboratories, LLC (US)
SKU-