FEATURED COMPANIES
- ARUP Laboratories
- Foundation Medicine
- Healius Limited
- Laboratory Corporation
- OPKO Health
- Quest Diagnostics
The global esoteric testing market was valued at $20,218.60 million in 2020, and is estimated to reach $66,214.79 million by 2030, growing at a CAGR of 12.5% from 2021 to 2030.
Esoteric testing is defined as the analysis of rare molecule by various technologies such as flow cytometry, mass spectrometry, real time polymerase chain reaction, enzyme linked immunosorbent assay, and DNA sequencing. It is performed when there is a need for additional information except data from lab testing to establish a prognosis and supervise therapeutic treatment. It requires skilled personnel to conduct test and analyze the result by using various chemical agents and sophisticated instruments. It offers accurate diagnosis of disease and treats disease to deliver quality health care for the individual.
The global esoteric testing market is majorly driven by an alarming increase in the prevalence of infectious and chronic diseases, such as cancer, diabetes, cardiovascular disease, HIV, malaria, and hypertension, rise in government initiative for diagnostic testing, surge in demand for ELISA and RT-PCR test, advancement in R&D activities for drug development, and rise in adoption of early diagnosis testing. For instance, according to the World Health Organization (WHO), in 2020, approximately 10 million deaths were reported due to various types of cancer. As per the same source, in 2019, 1.5 million deaths were reported due to diabetics. Moreover, in February 2021, SRL Diagnostic collaborated with Mayo Clinic laboratories to conduct training, seminars, and conferences to enhance knowledge on esoteric tests in India. Furthermore, in June 2021, J Mitra and Company launched COVID-19 Ag Microlisa Elisa Test Kit, which is designed for in-vitro qualitative detection of COVID-19 antigen in oropharyngeal swabs and nasal sample. It provides better time efficiency by decreasing the turnaround time and provides results within two hours. Thus, increase in demand for ELISA and rise in prevalence of cancer and diabetics are expected to propel the growth of the market.
Increase in the number of diagnostic testing and surge in demand for personalized medicine are the major factors that drive the global esoteric testing market. Moreover, increase in prevalence of genetic disease significantly contributes toward the market growth, owing to the fact that esoteric testing, such as genetic testing, is used for monitoring vital signs for early diagnosis and proper treatment of patients. Rise in demand for early diagnosis of disease for effective treatment acts a key driving force of the global market. Furthermore, governments are taking multiple initiatives to develop a diagnostic testing service, which is expected to boost the market growth. Moreover, in 2019, Thermo Fisher Scientific, Inc., the world leader in service science, introduced the novel generation of mass spectrometry instruments used for diagnosis of diseases. On the contrary, advancements in technology in esoteric testing in emerging nations are anticipated to provide lucrative opportunities for the market expansion. For instance, in 2019, Becton, Dickinson and Company, a leading global medical technology company, launched BD FACSDuet automated flow cytometry system, which enables the clinician laboratories to enhance the efficiency by decreasing error and limiting the manual user interaction.
On the contrary, the high cost associated with esoteric testing and lack of skilled laboratory technicians are anticipated to hinder the market growth during the forecast period. Rise in number of diagnostic testing, advancement of esoteric DNA sequencing technologies in precise medicine, and increase in awareness among the population for early diagnosis lead to the enhancement of the esoteric testing sector. This encourages many key players to enter emerging markets, thus offering a lucrative growth opportunity in the esoteric testing market.
The global esoteric testing market is segmented into type, technology, end user, and region. By type, the market is categorized into infectious disease testing, oncology testing, endocrinology testing, genetic testing, toxicology testing, immunology testing, neurology testing, and other testing.
Some of the major companies that operate in the global esoteric testing market are ARUP Laboratories, Baylor Esoteric and Molecular Laboratory, Foundation Medicine, Healius Limited, Laboratory Corporation, Mayo Foundation for Medical Education and Research, OPKO Health, Quest Diagnostics, Sonic Healthcare Limited, and Stanford Clinical Pathology.
Esoteric testing is defined as the analysis of rare molecule by various technologies such as flow cytometry, mass spectrometry, real time polymerase chain reaction, enzyme linked immunosorbent assay, and DNA sequencing. It is performed when there is a need for additional information except data from lab testing to establish a prognosis and supervise therapeutic treatment. It requires skilled personnel to conduct test and analyze the result by using various chemical agents and sophisticated instruments. It offers accurate diagnosis of disease and treats disease to deliver quality health care for the individual.
The global esoteric testing market is majorly driven by an alarming increase in the prevalence of infectious and chronic diseases, such as cancer, diabetes, cardiovascular disease, HIV, malaria, and hypertension, rise in government initiative for diagnostic testing, surge in demand for ELISA and RT-PCR test, advancement in R&D activities for drug development, and rise in adoption of early diagnosis testing. For instance, according to the World Health Organization (WHO), in 2020, approximately 10 million deaths were reported due to various types of cancer. As per the same source, in 2019, 1.5 million deaths were reported due to diabetics. Moreover, in February 2021, SRL Diagnostic collaborated with Mayo Clinic laboratories to conduct training, seminars, and conferences to enhance knowledge on esoteric tests in India. Furthermore, in June 2021, J Mitra and Company launched COVID-19 Ag Microlisa Elisa Test Kit, which is designed for in-vitro qualitative detection of COVID-19 antigen in oropharyngeal swabs and nasal sample. It provides better time efficiency by decreasing the turnaround time and provides results within two hours. Thus, increase in demand for ELISA and rise in prevalence of cancer and diabetics are expected to propel the growth of the market.
Increase in the number of diagnostic testing and surge in demand for personalized medicine are the major factors that drive the global esoteric testing market. Moreover, increase in prevalence of genetic disease significantly contributes toward the market growth, owing to the fact that esoteric testing, such as genetic testing, is used for monitoring vital signs for early diagnosis and proper treatment of patients. Rise in demand for early diagnosis of disease for effective treatment acts a key driving force of the global market. Furthermore, governments are taking multiple initiatives to develop a diagnostic testing service, which is expected to boost the market growth. Moreover, in 2019, Thermo Fisher Scientific, Inc., the world leader in service science, introduced the novel generation of mass spectrometry instruments used for diagnosis of diseases. On the contrary, advancements in technology in esoteric testing in emerging nations are anticipated to provide lucrative opportunities for the market expansion. For instance, in 2019, Becton, Dickinson and Company, a leading global medical technology company, launched BD FACSDuet automated flow cytometry system, which enables the clinician laboratories to enhance the efficiency by decreasing error and limiting the manual user interaction.
On the contrary, the high cost associated with esoteric testing and lack of skilled laboratory technicians are anticipated to hinder the market growth during the forecast period. Rise in number of diagnostic testing, advancement of esoteric DNA sequencing technologies in precise medicine, and increase in awareness among the population for early diagnosis lead to the enhancement of the esoteric testing sector. This encourages many key players to enter emerging markets, thus offering a lucrative growth opportunity in the esoteric testing market.
The global esoteric testing market is segmented into type, technology, end user, and region. By type, the market is categorized into infectious disease testing, oncology testing, endocrinology testing, genetic testing, toxicology testing, immunology testing, neurology testing, and other testing.
By technology, it is divided into enzyme-linked immunosorbent assay, chemiluminescence immunoassay, mass-spectrometry, real time polymerase chain reaction, DNA sequencing, flow cytometry, and other technologies. By end user, the market is bifurcated into hospital-based laboratories and independent and reference laboratories. On the basis of hospital-based laboratories, the market is further distributed into enzyme-linked immunosorbent assay, chemiluminescence immunoassay, mass-spectrometry, real time polymerase chain reaction, DNA sequencing, flow cytometry, and other technologies. By independent and reference laboratories, the market is further categorized into enzyme-linked immunosorbent assay, chemiluminescence immunoassay, mass-spectrometry, real time polymerase chain reaction, DNA sequencing, flow cytometry, and other technologies. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global esoteric testing market are ARUP Laboratories, Baylor Esoteric and Molecular Laboratory, Foundation Medicine, Healius Limited, Laboratory Corporation, Mayo Foundation for Medical Education and Research, OPKO Health, Quest Diagnostics, Sonic Healthcare Limited, and Stanford Clinical Pathology.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the global esoteric testing market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global esoteric testing market.
KEY MARKET SEGMENTS
By Type
- Infectious Disease Testing
- Oncology Testing
- Endocrinology Testing
- Genetic Testing
- Toxicology Testing
- Immunology Testing
- Neurology Testing
- Other Testing
By Technology
- Enzyme-linked Immunosorbent Assay
- Chemiluminescence Immunoassay
- Mass Spectrometry
- Real Time Polymerase Chain Reaction
- DNA Sequencing
- Flow Cytometry
- Other Technologies
By End User
- Hospital-based Laboratories
- Enzyme-linked Immunosorbent Assay
- Chemiluminescence Immunoassay
- Mass Spectrometry
- Real Time Polymerase Chain Reaction
- DNA Sequencing
- Flow Cytometry
- Other Technologies
- Independent and Reference Laboratories
- Enzyme-linked Immunosorbent Assay
- Chemiluminescence Immunoassay
- Mass Spectrometry
- Real Time Polymerase Chain Reaction
- DNA Sequencing
- Flow Cytometry
- Other Technologies
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- ARUP Laboratories
- Baylor Esoteric and Molecular Laboratory
- Foundation Medicine
- Healius Limited
- Laboratory Corporation
- Mayo Foundation for Medical Education and Research
- OPKO Health
- Quest Diagnostics
- Sonic Healthcare Limited
- Stanford Clinical Pathology
Frequently Asked Questions about the Global Esoteric Testing Market
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Note: Product cover images may vary from those shown
FEATURED COMPANIES
- ARUP Laboratories
- Foundation Medicine
- Healius Limited
- Laboratory Corporation
- OPKO Health
- Quest Diagnostics
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: ESOTERIC TESTING MARKET, BY TYPE
CHAPTER 5: ESOTERIC TESTING MARKET, BY TECHNOLOGY
CHAPTER 6: ESOTERIC TESTING MARKET, BY END USER
CHAPTER 7: ESOTERIC TESTING MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Note: Product cover images may vary from those shown
- ARUP Laboratories
- Baylor Esoteric Molecular Laboratory
- Foundation Medicine
- Healius Limited
- Laboratory Corporation
- Mayo Foundation for Medical Education Research
- OPKO Health
- Quest Diagnostics
- Sonic Healthcare Limited
- Stanford Clinical Pathology.
Note: Product cover images may vary from those shown
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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