Esoteric Testing Market

The esoteric testing market is anticipated to expand from US$ 34.40 billion in 2024 to US$ 91.81 billion by 2031, reflecting a projected CAGR of 15.1% from 2025 to 2031.

Market Insights and Analyst Perspective:

Esoteric testing involves analyzing various samples for rare substances or molecules and is not part of standard testing procedures. This diagnostic segment necessitates highly trained professionals and sophisticated, intricate equipment. Such tests are primarily conducted in specialized laboratories, where samples are either referred by healthcare providers (inpatient testing) or submitted by patients themselves (outpatient testing). Some of these tests utilize the radioimmunoassay technique, which is known for being both costly and time-intensive. The COVID-19 pandemic has significantly boosted the esoteric testing market in recent years. The RT-PCR test is widely used for the qualitative detection of SARS-CoV-2 RNA from respiratory samples (collected via nasopharyngeal or oropharyngeal swabs, sputum, etc.) from individuals suspected of having COVID-19.

Growth Catalysts:

Increasing Incidence of Chronic Diseases Fuels Esoteric Testing Market

The Cancer Facts and Figures 2022 report from the American Cancer Society, published in January 2022, indicates that the US saw nearly 1.9 million new cancer cases and 609,360 cancer-related deaths in 2022. A study by the American Heart Association in 2021 projected that over 130 million adults in the US could be affected by some form of heart disease by 2035. The rising rates of cancer and other chronic diseases underscore the necessity for accurate diagnoses and treatments. According to estimates from the American Thyroid Association, more than 12% of the US population is expected to develop a thyroid condition during their lifetime. The increasing prevalence of hormonal disorders, driven by unhealthy eating habits and sedentary lifestyles, has led to a rise in endocrinology testing in North America. Endocrine tests are essential for diagnosing hormonal disorders, including those related to the pituitary, thyroid, adrenal, bone, carcinoid, neuroendocrine, and parathyroid tumors.

Moreover, the growing incidence of chronic diseases and the launch of specialized testing kits for specific therapeutic areas are expected to propel the esoteric testing market's growth in the coming years. The WHO reported in October 2021 that by 2030, 1 in 6 people globally will be aged 60 or older. The population aged 60 and above is projected to increase from 1 billion in 2020 to 1.4 billion by 2050. As the elderly population becomes more vulnerable to genetic and chronic diseases, the demand for esoteric tests is anticipated to rise significantly during the forecast period.

According to the CDC, in September 2022, there were 420 new cases of West Nile virus disease reported, with 65% classified as neuroinvasive and 35% as non-neuroinvasive. These rare diseases can be effectively identified through esoteric tests for infectious diseases, further driving market growth.

Strategic Insights

Report Segmentation and Scope:

The esoteric testing market is categorized by type, technology, and end user. By type, the market includes infectious disease testing, endocrinology testing, oncology testing, toxicology testing, immunology testing, neurology testing, and others. In terms of technology, the esoteric testing market is divided into chemiluminescence immunoassay, enzyme-linked immunosorbent assay, mass spectrometry, real-time PCR, DNA sequencing, flow cytometry, and others. For end users, the market is segmented into hospitals and laboratories, as well as independent and reference laboratories.

Segmental Analysis:

The esoteric testing market is segmented by type into infectious disease testing, endocrinology testing, oncology testing, toxicology testing, immunology testing, neurology testing, and others. The oncology testing segment accounted for the largest market share in 2022, while the infectious disease testing segment is expected to exhibit the highest CAGR from 2022 to 2030.

In terms of technology, the esoteric testing market is divided into chemiluminescence immunoassay, enzyme-linked immunosorbent assay, mass spectrometry, real-time PCR, DNA sequencing, flow cytometry, and others. The chemiluminescence immunoassay segment held the largest market share in 2022, while the enzyme-linked immunosorbent assay segment is projected to achieve the highest CAGR of 18.7% from 2022 to 2030.

By end user, the esoteric testing market is categorized into hospitals and laboratories, and independent and reference laboratories. The hospitals and laboratories segment held a larger market share in 2022 and is expected to grow at a higher CAGR of 15.2% from 2022 to 2030.

Regional Analysis:

The global esoteric testing market is divided into Asia Pacific, Europe, the Middle East & Africa, North America, and South & Central America. In 2022, North America held the largest market share, while Asia Pacific is projected to register the highest CAGR in the esoteric testing market from 2022 to 2030.

The esoteric testing market in North America is further divided into the US, Canada, and Mexico. The US market is primarily driven by the increasing prevalence of chronic diseases and heightened awareness regarding early detection of medical conditions. Esoteric tests are typically conducted to analyze rare and unique substances not included in standard tests. Clinical laboratories require specialized expertise to perform these tests, leading large commercial laboratories to outsource complex tests to reference and esoteric testing laboratories. Notable labs conducting esoteric testing in the US include Quest Diagnostics Incorporated, Mayo Medical Laboratories, ARUP Laboratories, Myriad Genetics, Genomic Health, Foundation Medicine, and Laboratory Corporation of America. The number of laboratories capable of performing these specialized tests is on the rise in the country.

An article published by the Endocrine Society in January 2022 noted that hypogonadism is a prevalent condition among males in the US, particularly among older and obese men, as well as those with type 2 diabetes; it is estimated that 35% of men over 45 and 30-50% of men with type 2 diabetes or obesity have hypogonadism. Furthermore, according to the US Census Bureau, the incidence of hypogonadism in men aged 65 and older increased from approximately 35 million in 2000 to around 55 million by 2020, with projections of nearly 87 million by 2050. The rising prevalence of this condition correlates with the growing elderly population in the US. Additionally, Statista reported that 51,642 adults in the US died from liver disease in 2020, with chronic liver disease/cirrhosis ranked as the 12th leading cause of death in the US that year; the increase in alcoholic cirrhosis cases is a significant risk factor for this disease.

Consequently, the rising cases of hypogonadism, hepatic cirrhosis, and other similar conditions are propelling the growth of the global esoteric testing market.

Esoteric Testing Market Report ScopeIndustry Developments and Future Opportunities:

Key initiatives by major players in the esoteric testing market include:

1. In March 2022, Waters Corporation introduced the Xevo TQ Absolute system, a compact benchtop tandem mass spectrometer. This highly sensitive mass spectrometer quantifies negatively ionizing compounds with up to 15-fold greater sensitivity than its predecessor, while being 45% smaller and consuming up to 50% less electricity and gas.
2. In February 2021, Quest Diagnostics partnered with Grail for its Galleri multicancer blood tests, planning to offer phlebotomy services utilizing the Galleri multicancer early-detection blood tests.

Competitive Landscape and Key Companies:

Prominent companies in the esoteric testing market include Georgia Esoteric & Molecular Laboratory LLC, Laboratory Corp of America Holdings, Quest Diagnostics Inc., National Medical Services Inc., OPKO Health Inc., ARUP Laboratories Inc., bioMONTR Labs, Athena Esoterix LLC, Stanford Hospital & Clinics, and Foundation Medicine Inc. These companies are focused on introducing new technologies, enhancing existing products, and expanding their geographic presence to meet the increasing global consumer demand.

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