Esoteric Testing Market: Information by Type (Infectious Disease, Endocrinology), Technology (Chemiluminescence Immunoassay), End-User (Hospital Laboratories), and Region — Forecast till 2029

Feb 12, 2021   Esoteric testing is used to analyze the presence of unusual or atypical substances that are not routinely performed in clinical laboratories. These tests provide cutting-edge research and development of new assays as well as enhancement of existing diagnostic tests to develop tools with sensitivity, specificity, efficiency, and clinical value. Thus, the esoteric testing market is predicted to grow with a CAGR of 11.2% during the forecast period. Increasing Prevalence of Infectious Diseases ac...
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Report Description

Esoteric testing is used to analyze the presence of unusual or atypical substances that are not routinely performed in clinical laboratories. These tests provide cutting-edge research and development of new assays as well as enhancement of existing diagnostic tests to develop tools with sensitivity, specificity, efficiency, and clinical value. Thus, the esoteric testing market is predicted to grow with a CAGR of 11.2% during the forecast period.

Esoteric-Testing-Market

Increasing Prevalence of Infectious Diseases across Globe

The global esoteric testing market is primarily driven by the soaring incidents of infectious diseases, such as HIV, tuberculosis, psoriatic arthritis, and lupus globally. These diseases are expensive and difficult to manage if they progress undiagnosed. As per the WHO, lower respiratory infections, diarrheal diseases, and tuberculosis are the three infectious diseases that were ranked in the top ten causes of death worldwide in 2016. The lower respiratory infections caused3.0 a million deaths, diarrheal diseases 1.4 million deaths, and tuberculosis 1.3 million deaths. HIV/AIDS, is also a leading cause of death, especially in low- middle-income nations, causing 1.0 million deaths in 2016, compared with 1.5 million in 2000. Therefore, esoteric testing is gaining importance over the years for the early diagnosis of these diseases.

RisingAdoptionof Personalized Medicine in Patients

Personalized medicine improves the ability to diagnose and treat disease as it offers potential ways to detect disease at an earlier stage and treat it effectively. Many key players in collaboration with government regulators and policymakers are working together to develop advanced personalized medicine. The growing patient awareness about the benefits of personalized medicine has significantly surged the use of molecular diagnostics, genomics, and proteomics technologies. The esoteric tests enable healthcare providers to make an informed clinical decision and reduce the chances of unnecessary adverse events.

Emerging markets to provide lucrative opportunities for market growth

Asia-Pacific provides lucrative opportunities to the players in the esoteric testing market due to the rising number of infectious patients. As per the World Health Organization(WHO), Tuberculosis (TB) is the leading cause of death in Asia-Pacific. In 2016, there were around 10.4 million TB cases worldwide. About1.3 a million deaths were caused among HIV-negative people, of which around one-third of new cases were estimated in India and Indonesia.

An increase in R&D activities by key market players to tap the market is expected to facilitate the market growth in Asia-Pacific. Furthermore, favorable government reimbursement plans and growing healthcare awareness are key growth contributing factors. For instance, organizations, such as the Asia-Pacific Association of Allergy, Asthma, and Clinical Immunology (APAAACI), are involved in delivering information about clinical development and basic research on allergy, asthma, and clinical immunology to the community.

In the challenging situation of the COVID-19 pandemic, the APAAACI team also participated in providing education and awareness to keep the people up-to-date about the know-how of the disease. Such initiatives are in turn expected to boost the market demand for respiratory drug delivery devices in developing regions.

Growing Geriatric Population

According to the UN Agency, by 2050, the world’s population aged sixty years and older is anticipated to be 2 billion, up from 900 million in 2015. The growing base of geriatric population requiring home care setting of esoteric testing is anticipated to be a key issue driving the market growth. In societies that have accelerated aging, one of all the problems that arise is that the increasing prevalence of chronic conditions, such as cardiovascular disorders, lung diseases, and neurological diseases, further driving the demand for esoteric testing.

Esoteric Testing Market: Segmentation

Infectious Diseases TestingSegment to Dominate the Market during the Forecast Period

Based on type, the global esoteric testing market is majorly segmented into infectious disease, endocrinology, oncology, toxicology, immunology, neurology, genetic testing, and others. The infectious disease segment accounted for the largest share of the esoteric testing market on account of the rising aging population as they are more prone to chronic, infectious, and lifestyle-related diseases. Moreover, the increasing adoption of advanced technologies and the growing healthcare expenditure across the globe provide an impetus to the segment growth.

Hospital Laboratories Segment to Attain New Heights in Terms of Revenue in the Coming Years

By end-user, the esoteric testing market is segmented into independent and reference laboratories and hospital laboratories. The hospital laboratories segment holds the largest share of the esoteric testing market, owing to the surging adoption of these tests in geriatric and chronically ill patients. An upsurge in the number of patients visiting for diagnosis purposes in hospitals as they are well equipped with skilled professionals drives the segment growth.

Regional Overview

North-America-Lead-Esoteric-Testing-Market

North America to Dominate the Esoteric Testing Market during the Forecast Period

North America dominates the esoteric testing market as the region is supported by rising healthcare awareness, coupled with advanced technologies acceptance. Increasing adoption of precision medicine and healthcare IT systems in clinical workflow, along with supportive government policies and funding drives the regional market. Furthermore, the surging prevalence of chronic diseases in the region boosts the market growth. Additionally, the rising geriatric population is anticipated to propel market growth.

Key Players

  • Labcorp (the U.S.)
  • Quest Diagnostics (the U.S.)
  • OPKO Health (the U.S.)
  • MiracaHoldings (Japan)
  • Arup Laboratories (the U.S.)
  • Myriad Genetics (the U.S.)
  • Genomic Health (the U.S.)
  • American Medical Laboratories (the U.S.)
  • Foundation Medicines (the U.S.)
  • Mayo Medical Laboratories (the U.S.)

Esoteric Testing Market: Segmentation

By Type

  • Infectious Diseases Testing
  • Endocrinology Testing
  • Oncology testing
  • Immunology Testing
  • Genetic Testing
  • Toxicology Testing
  • Neurology Testing

By Technology

  • Chemiluminescence Immunoassay (CLIA)
  • Enzyme-linked Immunosorbent Assay (ELISA)
  • Mass Spectrometry
  • Real-Time - PCR
  • Flow Cytometry
  • Radioimmunoassay

By End-User

  • Independent and Reference Laboratories
  • Hospital Laboratories

By Region

  • Americas
    • North America
      • The U.S.
      • Canada
    • South America
  • Europe
    • Western Europe
    • Germany
    • The U.K.
    • France
    • Italy
    • Spain
  • Eastern Europe
  • The Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Korea
    • Australia
    • South Korea
    • The Rest of Asia-Pacific
  • The Middle East and Africa

Frequently Asked Questions (FAQs)

The increasing prevalence of infectious diseases across the globe, the rising adoption of personalized medicine in patients, growing healthcare awareness are the key factors expected to drive Esoteric Testing Market during the forecast period.
North America is expected to hold the highest market share in Esoteric Testing Market.
Labcorp, Quest Diagnostics, OPKO Health, MiracaHoldings, Arup Laboratories, Myriad Genetics, Genomic Health, American Medical Laboratories, Foundation Medicines are the top players in Esoteric Testing Market.
The esoteric testing market is predicted to grow with a CAGR of 11.2% during the forecast period.
Hospital Laboratories Segment is expected to be the leading segment in Esoteric Testing Market during the forecast period.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically, choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.

Esoteric testing is used to analyze the presence of unusual or atypical substances that are not routinely performed in clinical laboratories. These tests provide cutting-edge research and development of new assays as well as enhancement of existing diagnostic tests to develop tools with sensitivity, specificity, efficiency, and clinical value. Thus, the esoteric testing market is predicted to grow with a CAGR of 11.2% during the forecast period.

Esoteric-Testing-Market

Increasing Prevalence of Infectious Diseases across Globe

The global esoteric testing market is primarily driven by the soaring incidents of infectious diseases, such as HIV, tuberculosis, psoriatic arthritis, and lupus globally. These diseases are expensive and difficult to manage if they progress undiagnosed. As per the WHO, lower respiratory infections, diarrheal diseases, and tuberculosis are the three infectious diseases that were ranked in the top ten causes of death worldwide in 2016. The lower respiratory infections caused3.0 a million deaths, diarrheal diseases 1.4 million deaths, and tuberculosis 1.3 million deaths. HIV/AIDS, is also a leading cause of death, especially in low- middle-income nations, causing 1.0 million deaths in 2016, compared with 1.5 million in 2000. Therefore, esoteric testing is gaining importance over the years for the early diagnosis of these diseases.

RisingAdoptionof Personalized Medicine in Patients

Personalized medicine improves the ability to diagnose and treat disease as it offers potential ways to detect disease at an earlier stage and treat it effectively. Many key players in collaboration with government regulators and policymakers are working together to develop advanced personalized medicine. The growing patient awareness about the benefits of personalized medicine has significantly surged the use of molecular diagnostics, genomics, and proteomics technologies. The esoteric tests enable healthcare providers to make an informed clinical decision and reduce the chances of unnecessary adverse events.

Emerging markets to provide lucrative opportunities for market growth

Asia-Pacific provides lucrative opportunities to the players in the esoteric testing market due to the rising number of infectious patients. As per the World Health Organization(WHO), Tuberculosis (TB) is the leading cause of death in Asia-Pacific. In 2016, there were around 10.4 million TB cases worldwide. About1.3 a million deaths were caused among HIV-negative people, of which around one-third of new cases were estimated in India and Indonesia.

An increase in R&D activities by key market players to tap the market is expected to facilitate the market growth in Asia-Pacific. Furthermore, favorable government reimbursement plans and growing healthcare awareness are key growth contributing factors. For instance, organizations, such as the Asia-Pacific Association of Allergy, Asthma, and Clinical Immunology (APAAACI), are involved in delivering information about clinical development and basic research on allergy, asthma, and clinical immunology to the community.

In the challenging situation of the COVID-19 pandemic, the APAAACI team also participated in providing education and awareness to keep the people up-to-date about the know-how of the disease. Such initiatives are in turn expected to boost the market demand for respiratory drug delivery devices in developing regions.

Growing Geriatric Population

According to the UN Agency, by 2050, the world’s population aged sixty years and older is anticipated to be 2 billion, up from 900 million in 2015. The growing base of geriatric population requiring home care setting of esoteric testing is anticipated to be a key issue driving the market growth. In societies that have accelerated aging, one of all the problems that arise is that the increasing prevalence of chronic conditions, such as cardiovascular disorders, lung diseases, and neurological diseases, further driving the demand for esoteric testing.

Esoteric Testing Market: Segmentation

Infectious Diseases TestingSegment to Dominate the Market during the Forecast Period

Based on type, the global esoteric testing market is majorly segmented into infectious disease, endocrinology, oncology, toxicology, immunology, neurology, genetic testing, and others. The infectious disease segment accounted for the largest share of the esoteric testing market on account of the rising aging population as they are more prone to chronic, infectious, and lifestyle-related diseases. Moreover, the increasing adoption of advanced technologies and the growing healthcare expenditure across the globe provide an impetus to the segment growth.

Hospital Laboratories Segment to Attain New Heights in Terms of Revenue in the Coming Years

By end-user, the esoteric testing market is segmented into independent and reference laboratories and hospital laboratories. The hospital laboratories segment holds the largest share of the esoteric testing market, owing to the surging adoption of these tests in geriatric and chronically ill patients. An upsurge in the number of patients visiting for diagnosis purposes in hospitals as they are well equipped with skilled professionals drives the segment growth.

Regional Overview

North-America-Lead-Esoteric-Testing-Market

North America to Dominate the Esoteric Testing Market during the Forecast Period

North America dominates the esoteric testing market as the region is supported by rising healthcare awareness, coupled with advanced technologies acceptance. Increasing adoption of precision medicine and healthcare IT systems in clinical workflow, along with supportive government policies and funding drives the regional market. Furthermore, the surging prevalence of chronic diseases in the region boosts the market growth. Additionally, the rising geriatric population is anticipated to propel market growth.

Key Players

  • Labcorp (the U.S.)
  • Quest Diagnostics (the U.S.)
  • OPKO Health (the U.S.)
  • MiracaHoldings (Japan)
  • Arup Laboratories (the U.S.)
  • Myriad Genetics (the U.S.)
  • Genomic Health (the U.S.)
  • American Medical Laboratories (the U.S.)
  • Foundation Medicines (the U.S.)
  • Mayo Medical Laboratories (the U.S.)

Esoteric Testing Market: Segmentation

By Type

  • Infectious Diseases Testing
  • Endocrinology Testing
  • Oncology testing
  • Immunology Testing
  • Genetic Testing
  • Toxicology Testing
  • Neurology Testing

By Technology

  • Chemiluminescence Immunoassay (CLIA)
  • Enzyme-linked Immunosorbent Assay (ELISA)
  • Mass Spectrometry
  • Real-Time - PCR
  • Flow Cytometry
  • Radioimmunoassay

By End-User

  • Independent and Reference Laboratories
  • Hospital Laboratories

By Region

  • Americas
    • North America
      • The U.S.
      • Canada
    • South America
  • Europe
    • Western Europe
    • Germany
    • The U.K.
    • France
    • Italy
    • Spain
  • Eastern Europe
  • The Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Korea
    • Australia
    • South Korea
    • The Rest of Asia-Pacific
  • The Middle East and Africa

Frequently Asked Questions (FAQs)

The increasing prevalence of infectious diseases across the globe, the rising adoption of personalized medicine in patients, growing healthcare awareness are the key factors expected to drive Esoteric Testing Market during the forecast period.
North America is expected to hold the highest market share in Esoteric Testing Market.
Labcorp, Quest Diagnostics, OPKO Health, MiracaHoldings, Arup Laboratories, Myriad Genetics, Genomic Health, American Medical Laboratories, Foundation Medicines are the top players in Esoteric Testing Market.
The esoteric testing market is predicted to grow with a CAGR of 11.2% during the forecast period.
Hospital Laboratories Segment is expected to be the leading segment in Esoteric Testing Market during the forecast period.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically, choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.