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Global Esoteric Testing Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

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

Esoteric Testing Market

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)

Research Methodology: Global Esoteric Testing Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

The current market value for esoteric testing is expected USD 37.21 billion by 2029.
The Esoteric Testing Market is to grow at a CAGR of 12.25% during the forecast by 2029.
On the basis of technology, the Esoteric Testing Market is segmented into Chemiluminescence Immunoassay, Enzyme-Linked Immunosorbent Assay, Flow Cytometry, Mass Spectrometry, Real Time–Polymerase Chain Reaction , Radioimmunoassay, Others.
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) and Nelson Laboratories, LLC (US).