Esoteric Testing Market Forecasts to 2028 – Global Analysis By Application (Bioengineering, Chemical Industry, Medical), End User (Hospital Laboratories, Clinical Research Laboratories and Medical Institutes) and By Geography
According to Stratistics MRC, the Global Esoteric Testing Market is accounted for $18.82 billion in 2020 and is expected to reach $52.19 billion by 2028 growing at a CAGR of 13.6% during the forecast period. The rising incidence of chronic and infectious diseases and advancements in the personalized medicine are the factors driving the market growth. However, dearth of skilled professionals is hampering the growth of the market.
Esoteric testing is the analysis of rare molecules or substances. It is not performed in a routine clinical laboratory. These tests are performed when there is requirement of additional information external routine lab testing, for proper diagnosis of disease, establish a prognosis or select and supervise a therapeutic treatment.
Based on the type, the molecular diagnostics segment is going to have lucrative growth during the forecast period due to increased prevalence of rare and genetic diseases. By geography, North America is going to have high growth during the forecast period due to higher incidence and prevalence rate, growing awareness about early disease detection, and quick adoption of sophisticated instruments.
Some of the key players profiled in the Esoteric Testing Market include American Esoteric Laboratories, ARUP Laboratories, bioMontr Labs, BP Diagnostic Centre SDN BHD, Fulgent Genetics Inc, Genomic Health, Inc, Gold Standard Diagnostics Corp, Grifols, S.A, Laboratory Corporation of America Holdings, Leo Labs, Inc, Miraca Holdings Inc, Nordic Laboratories, OPKO Health, Inc, Quest Diagnostics , and ZeptoMetrix Corporation.
Estimated Market Size in 2020:
USD 18.82 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 52.19 billion
Tables, Graphs & Figures
Type, Technology, Application, End User, and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Endocrinology Testing
• Genetic Testing
• Infectious Disease
• Molecular Diagnostics
• Neurology Testing
• Chemiluminescence Immunoassay (CLIA)
• DNA Sequencing
• Enzyme-Linked Immunosorbent Assay (ELISA)
• Flow Cytometry
• Mass Spectrometry (MS)
• Radio Immunoassay
• Real-Time Polymerase Chain Reaction (RT-PCR)
• Chemical Industry
End Users Covered:
• Hospital-Based Laboratories
• Independent & Reference Laboratories
• Clinical Research Laboratories and Medical Institutes
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2054 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Esoteric Testing Market is majorly driven by the rising incidence of chronic and infectious diseases and advancements in the personalized medicine.
The chemiluminescence immunoassay (CLIA) segment is growing at a highest CAGR owing to its high-performance levels and accuracy.
North America dominated with a significant market share due to the factors such as increasing healthcare expenditure and growing geriatric population.
Asia Pacific market is growing at a highest CAGR owing to the increasing prevalence of various diseases and development of medical infrastructure.
Key players in Esoteric Testing Market include American Esoteric Laboratories, ARUP Laboratories, bioMontr Labs, BP Diagnostic Centre SDN BHD, Fulgent Genetics Inc, Genomic Health, Inc, Gold Standard Diagnostics Corp, Grifols, S.A, Laboratory Corporation of America Holdings, Leo Labs, Inc, Miraca Holdings Inc, Nordic Laboratories, OPKO Health, Inc, Quest Diagnostics , and ZeptoMetrix Corporation.
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