Esoteric Testing Market to Witness Remarkable Growth Through 2025
Category: #healthcare  By Ronak Bora  Date: 2021-03-20
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Esoteric Testing Market to Witness Remarkable Growth Through 2025

Global esoteric testing market is poised to witness tremendous growth over the projected timeframe of 2019 to 2025, attributing to rising significance of disease diagnosis due to increasing incidence of complex and rare diseases across the globe. In addition, growing elderly population who are prone to suffer from chronic disorders will further evoke the demand for esoteric testing and molecular diagnostics.

The rising need for early disease detection, growing awareness about the advanced molecular testing mechanism, and an increase in R&D activities in the field of proteomics and genomics will boost the demand for esoteric testing considerably. The high adoption of advanced technologies such as mass spectrometry and real time-PCR in sophisticated clinical laboratories will help in delivering more accurate and effective test results.

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Oncology esoteric testing segment is anticipated to register an appreciable CAGR of 11.2% over the analysis timeframe owing to increasing prevalence of cancer along with rising awareness regarding the disease and its early detection. Moreover, continuous efforts by manufacturers to develop new tests will also contribute to the segment growth. For instance, Quest Diagnostics developed BRCA testing for patients suffering from Hereditary Breast and Ovarian Cancer (HBOC) syndrome..

According to the company, establishment of the center will enable it to provide advanced diagnostic solutions. These solutions include pathology and genomic testing such as tumor sequencing which is predominantly used by oncologists for selecting and monitoring treatment as well as predicting progression in disease. Additionally, it will also provide inherited genetic testing such as BRCA testing for breast cancer.

Mass spectrometry segment is projected to secure a sizeable market share of 18% by 2025 owing to extensive application of mass spectrometry technology in endocrinology, therapeutic drug monitoring, toxicology screening and Vitamin D testing. Besides, mass spectrometry is witnessing increased consumer preference as compared to other available technologies, which will positively influence the segment growth over the ensuing years.

U.S. esoteric testing market accounted for nearly 35% of the total market share in 2018, on account of the rising incidences of rare diseases and technological innovations in the field of medical science and research. The presence of several initiatives, such as Obama’s Precision Medicine Initiative and the 21st Century Cures Act, will certainly favor the regional esoteric testing industry growth.

Leading companies in global esoteric testing market include Nordic Laboratories, Laboratory Corporation of America, Miraca Holdings, Quest Diagnostics, Opko Health, Genomic Health, ACM Global Laboratories, American Esoteric Laboratories (AEL), Myriad Genetics, Arup Laboratories, Invitae, Fulgent Genetics, BioMONTR, and Mayo Medical Laboratories.

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Partial Chapter of the Table of Content

Chapter 4. Esoteric Testing Market, By Test Type

4.1. Key segment trends

4.2. Endocrinology

4.2.1. Market estimates and forecast, by region, 2014 – 2025

4.3. Infectious disease & immunology

4.3.1. Market estimates and forecast, by region, 2014 – 2025

4.4. Oncology

4.4.1. Market estimates and forecast, by region, 2014 – 2025

4.5. Toxicology

4.5.1. Esoteric Testing Market estimates and forecast, by region, 2014 – 2025

4.6. Neurology

4.6.1. Market estimates and forecast, by region, 2014 – 2025

4.7. Genomics

4.7.1. Market estimates and forecast, by region, 2014 – 2025

4.8. Others

4.8.1. Market estimates and forecast, by region, 2014 – 2025

Chapter 5. Esoteric Testing Market, By Technology

5.1. Key segment trends

5.2. Mass spectrometry

5.2.1. Market estimates and forecast, by region, 2014 – 2025

5.3. Flow cytometry

5.3.1. Market estimates and forecast, by region, 2014 – 2025

5.4. ELISA

5.4.1. Market estimates and forecast, by region, 2014 – 2025

5.5. Radioimmunoassay

5.5.1. Esoteric Testing Market estimates and forecast, by region, 2014 – 2025

5.6. Chemiluminescence

5.6.1. Market estimates and forecast, by region, 2014 – 2025

5.7. RT-PCR

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About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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