The esoteric testing market report studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. Geographically, the esoteric testing market is segmented into North America, Europe, Asia Pacific, Rest of Latin America, and Middle East & Africa. In 2018, North America is expected to account for the largest share of the market followed by Europe.
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Esoteric testing market is projected to reach USD 35.24 billion by 2023 from USD 20.38 billion in 2018, at a CAGR of 11.6%. Growth in this market is primarily driven by increasing burden of chronic diseases (majorly due to rising geriatric population), rising prevalence of infectious diseases, rising demand for early disease diagnosis using specialized tests, growing awareness on personalized medicine, and increasing government funding for the research and development of innovative esoteric tests.
Target Audience for this Report:
- Independent/reference laboratories
- Clinical laboratory testing service providers
- Diagnostic companies
- Suppliers and distributors of diagnostic test kits
- OEM manufacturers
- Healthcare service providers (including hospital-affiliated laboratories)
- Medical institutes
- Health insurance players
- Pharmaceutical, biopharmaceutical, and biotechnology companies
- Market research and consulting firms
Growth in esoteric testing market is primarily driven by the increasing burden of chronic diseases (majorly due to the rising geriatric population), rising prevalence of infectious diseases, rising demand for early disease diagnosis using specialized tests, growing awareness on personalized medicine, and increasing government funding for the research and development of innovative esoteric tests.
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Esoteric testing market major factors driving growth of this market in the North American region include accessibility to advanced technologies, presence of a well-established network of independent & reference laboratories, expansion of molecular diagnostics for genetic disorders and cancer screening, and presence of major leading companies in the US.
Global Esoteric Testing Market, by Type
- Infectious Diseases Testing
- Endocrinology Testing
- Oncology testing
- Immunology Testing
- Genetic Testing
- Toxicology Testing
- Neurology Testing
The prominent players in the global esoteric testing market include LabCorp (US), OPKO Health (US), ARUP Laboratories (US), Miraca Holdings (Japan), Myriad Genetics (US), Genomic Health (US), Quest Diagnostics (US), American Medical Laboratories (US), Foundation Medicine (US), Mayo Medical Laboratories (US), Primary Healthcare (Australia), Healthscope (Australia), Sonic Healthcare (Australia), Fulgent Genetics (US), Invitae (US), Spectra Laboratories (US), Eurofins Scientific (Luxembourg), Unilabs (Switzerland), SYNLAB International (Germany), Enzo Biochem (US), Clinical Reference Laboratory (US), Sequenom (US), and American Pathology Partners (US).
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Objectives of the study are:
- To define, describe, and forecast the global market by type, technology, and laboratory type
- To provide detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, challenges, and industry trends)
- To analyze various segments covered in the study with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To strategically profile key players in this market and comprehensively analyze their market shares and core competencies
- To forecast the market size of the global market with respect to the five key regions (along with countries), namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To track and analyze competitive developments such as joint ventures, agreements, and partnerships; mergers and acquisitions; product launches; and research and development activities in the global market
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