The global esoteric testing market size was estimated to be US$ 25.5 billion in 2021 and is expected to grow at a CAGR of 7.2% between 2023 to 2032.
The analysis of rare substances or molecules is called esoteric testing. Such testing is not performed in a routine clinical laboratory.
Esoteric tests are performed under following circumstances:
To perform the tests and analyze the results, skilled personnel are required and sophisticated chemicals and instruments are needed. These tests are costly and are only performed by independent and specialized clinical reference laboratories. Such tests are regulated by strict regulatory framework and can’t be performed in physician office laboratories and hospitals.
The global esoteric testing market will experience new growth opportunities due to following factors:
The constantly growing numbers of infectious disease patients will accelerate the growth of the esoteric testing market globally. Additionally, advancements in new product technologies and growing awareness of personalized medicine will boost the growth of esoteric testing market.
Due to an increase in the prevalence of chronic infectious and rare genetic diseases, there is an increase in demand for enzyme linked immunosorbent assay (ELISA) and real time polymerase chain reaction (RT-PCR). There is also a considerable increase in funding from government and private organizations for diagnostic services and technological advances in esoteric testing.
Due to an increasing demand for new treatment options for COVID-19 global pandemic and associated infectious diseases, there is an increase in funding for medical research activities and the growth of the market is certain. The growing awareness among the doctors and patients regarding esoteric testing and increase in public and private healthcare expenditure has further bolstered the market growth.
Testing for rare substances and its analysis is a highly complex and costly process that requires significant investments, quality systems, scientific standards, technical capabilities, sophisticated chemicals and instruments.
The lack of skilled lab technicians needed to properly perform the tests and to avoid incorrect test results owing to incorrect procedures is a major factor which restrain would the global market growth. Unless these factors are addressed by healthcare authorities the global market growth will be hindered even during the forecast period.
Esoteric Testing Market Share Analysis, by Geography (2022)
Some of the major players operating in the esoteric testing market are Quest Diagnostics, OPKO Health Inc, MIRACA HOLDINGS Inc, Myriad Genetics Inc, Sonic Healthcare, Healthscope Foundation Medicine, ACM Global Laboratories, ARUP Laboratories, Fulgent Genetics, Invitae Corporation, Mayo Foundation for Medical Education and Research, Fresenius Medical Care, Charles River Laboratories, Pacific Bio labs Inc, Merck KGaA, WuXi AppTec, North American Science Associates Inc, Nelson Laboratories LLC and others.
By Type
By Esoteric Testing
By Laboratory Type
By Geography
The analysis of rare substances or molecules is called esoteric testing. Such testing is not performed in a routine clinical laboratory.
The global market for esoteric testing will most likely expand at over 7.2% CAGR through 2032.
The constantly growing numbers of infectious disease patients will accelerate the growth of the esoteric testing market globally. Additionally, advancements in new product technologies and growing awareness of personalized medicine will boost the growth of esoteric testing market.
The global esoteric testing market segmented on the basis of Type, Esoteric Testing, Laboratory Type and Geography.
Quest Diagnostics, OPKO Health Inc, Merck KGaA, WuXi AppTec and North American Science Associates Inc are the top 5 esoteric testing manufacturers.
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