openPR Logo
Press release

Esoteric testing Market 2018 – 2024 : Top Players – Laboratory Corporation of America, ACM Global Laboratories, Quest Diagnostics, Arup Laboratories, Fulgent Genetics, Invitae, Mayo Medical Laboratories, Myriad Genetics, OPKO Health

08-22-2018 09:47 AM CET | Health & Medicine

Press release from: Global Market Insights, Inc.

Esoteric testing Market 2018 – 2024 : Top Players –

IDbyDNA’s recent collaboration with Arup Laboratories marks the continuity of the successful growth path carved out by esoteric testing market over the last few years. With this partnership, both the companies aim to collectively develop and commercialize next-generation sequencing infectious disease tests that are relatively more accurate and comprehensive than their conventional counterparts. The initiative is also expected to combine laboratory medication with sophisticated science and genomics and bring forth the advantages of precision medicine to infectious diseases, thereby eventually strengthening the position of both companies in global esoteric testing industry.

A vital sub-sphere of the clinical testing spectrum, esoteric testing market has been gaining massive prominence of late. This is evidenced by the valuation of this business space in 2017 – the industry stood at an appreciable USD 19 billion then. Basically inclusive of molecular analysis that is not carried out in routine clinical testing, esoteric tests are often outsourced by large commercial labs to reference labs, for the sake of clarity and convenience. Lately, a massive surge has been observed in the outsourcing framework, which is a positive indicator of esoteric testing industry expansion.

Get a Sample Copy of this Report@ https://www.gminsights.com/request-sample/detail/1922

It needs to be noted that these tests are customized and are ordered only in the event when a patient or the physician feels the requirement of additional information related to the disease, perhaps to diagnose a disease, decide the course of treatment, monitor a therapeutic regime, or decide a prognosis. Esoteric testing market is characterized by the requirement of a highly skilled workforce and sophisticated instruments, owing to which these tests are outsourced to specialized laboratories. With the increased prevalence of diseases related to the fields of immunology, genetics, oncology, toxicology, endocrinology, microbiology, serology, and molecular diagnostics, the demand for esoteric testing has shot up by quite a few notches lately.

Recently, Roche partnered with the LabCorp Center for Esoteric Testing, to establish the first U.S. site that offered commercial testing services. The testing is expected to be carried out with Roche’s new cobas® 8800 system, which has been designed to automate the overall molecular diagnostics testing process with PCR (polymerase chain reaction) detection. This high-throughput molecular system has already been approved by the FDA and other regulatory bodies, and will stand to offer substantial benefits to both companies, augmenting their position in global esoteric testing market.

It is noteworthy to mention that esoteric testing industry is highly controlled by regulatory bodies, owing to the delicate, sensitive nature of the tests. One of the key medical disciplines for which esoteric testing market is experiencing profound demand is that of infectious diseases and immunology. As per estimates, this segment accounted for 28% of the industry share in 2017, primarily on account of the high prevalence of infectious diseases coupled with high demand for advanced molecular tests. As the demand and availability of immunology laboratory services for every medical specialty increases, esoteric testing industry size will observe a positive growth from the infectious diseases and immunology segment over 2018-2024.

Genomics is forecast to be a prominent segment of esoteric testing market demonstrating heavy growth potential over 2018-2024 and is heavily dependent on regulatory approval. Recently, the FDA approved Merck’s Keytruda drug to treat gene-based cancer, which has been possible only due to esoteric tests.

Another recent instance demonstrating the importance of approval norms in esoteric testing industry is that of Strand Life Sciences receiving regulatory sanction. The genomic profiling company’s Next-Generation Sequencing laboratory, called the Strand Center for Genomics & Personalized Medicine, has received accreditation certificates from the National Accreditation Board for Testing & Calibration Laboratories (NABL) and the College of American Pathologists (CAP). The regulatory approval will strengthen the position of the firm in global esoteric testing market, given that this facility is the first and only one of its kind in India that can boast of receiving two prestigious approvals.

Make Inquiry about this report @ https://www.gminsights.com/inquiry-before-buying/1922

In the future, the rapid rise in the demand for esoteric tests may lead to the requirement of qualified staff. This may act as a possible hindrance for the growth of esoteric testing industry, as experts predict that the total number of available clinical laboratory technicians may not be able to fulfill the demand for skilled staff. However, the restraint may be overcome with regulatory bodies and educational institutions taking initiatives to train the required employee pool.

All in all, two prime factors that can be considered as major drivers of esoteric testing market are the growing trends toward personalized medicine and the plethora of norms enforced by governmental bodies. The former especially, has penetrated across major geographies, especially the United States, and is expected to substantially influence the dynamics of esoteric testing industry. Additionally, huge investments are being made across the globe in the proteomics and genomics sectors to conduct high-tech research & development activities, which will eventually accelerate the business growth. As per Global Market Insights, Inc., esoteric testing market size will cross USD 35 billion by 2024.

Company Profiles :-
• ACM Global Laboratories
• American Esoteric Laboratories (AEL)
• Arup Laboratories
• BioMONTR
• Fulgent Genetics Inc
• Genomic Health
• Invitae
• Laboratory Corporation of America
• Mayo Medical Laboratories
• Miraca Holdings Inc.
• Myriad Genetics
• Nordic Laboratories
• OPKO Health Inc.
• Quest Diagnostics, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Esoteric testing Market 2018 – 2024 : Top Players – Laboratory Corporation of America, ACM Global Laboratories, Quest Diagnostics, Arup Laboratories, Fulgent Genetics, Invitae, Mayo Medical Laboratories, Myriad Genetics, OPKO Health here

News-ID: 1193143 • Views: 1290

More Releases from Global Market Insights, Inc.

Asia Pacific Dicyclopentadiene Market to register extensive growth to 2024
Asia Pacific Dicyclopentadiene Market is projected to hold a revenue size of over USD 400 million by 2024. The region witnesses notable production and consumption of the UPR products which will drive the industry growth over 2018-2024. Significant UPR production in the countries like China and Japan coupled with the existence of well-established manufacturing sector in the region will augment the Asia Pacific dicyclopentadiene industry growth. Asian countries are the prime
APAC body worn insect repellent market is expected to be on the top of the overa …
Asia Pacific Body worn insect repellent market size is projected to register a CAGR of over 7.5% through 2024. With the rise in the occurrences of all the vector-borne diseases that include West Nile, Dengue, Chikungunya and malaria as well as increasing penchant for adventure tourism, body worn insect repellent market trends shall witness a considerable boost over the next few years. Request for a sample of this research report
Foam Blowing Agents Market to see 7% CAGR till 2024 | Sinochem, AkzoNobel, ZEON …
A blowing agent is a substance which is capable of producing a cellular structure in a range of different materials that involve phase transition or hardening, including polymers and plastics, among others, via foaming process. One of the major reasons for increasing foam blowing agents market penetration is the capability of the product to enhance the strength and other existing properties of polymeric foams. Proliferating infrastructural development in APAC region
Printing sector is likely to offer impetus to the glycidyl methacrylate market o …
Global printing ink application market size from the =97% purity segment will surpass $95 million by 2025 owing to the thriving automotive, electrical & electronics, food & beverage, metals, and chemicals sector. Wide usage of glycidyl methacrylate in automotive sector is going to significantly promote the growth of glycidyl methacrylate market by 2025 as the automotive industry continues to expand. In-depth table of contents @ https://www.gminsights.com/toc/detail/glycidyl-methacrylate-marke Contact Us Arun Hegde Corporate Sales,

All 5 Releases


More Releases for Laboratories

Global Infertility Treatment Devices Market 2019 - Abbott Laboratories, Bio-Rad …
The Global Infertility Treatment Devices Market 2019 - overview combining the data integration and analysis capabilities with the relevant findings, the report has predicted strong future growth of the market. The research analyst combining secondary research which involves reference to various statistical databases, relevant patent and regulatory databases and a number of internal a nd external proprietary databases. Cell Line Development Equipment report has focused on each region market
Clinical laboratory services Market Laboratories, Charles River Laboratories, My …
The file offers a radical assessment of the present increase dynamics of the worldwide Clinical laboratory services with the assist of great market data protecting all critical factors and market segments. The document offers a birds’ eye view of the past and present traits as properly the elements predicted to power or obstruct the market increase possibilities of the Clinical laboratory services Market in the near destiny. Get Sample Copy of
Biomedicine & Bioscience Laboratories Ltd
Biomedicine & Bioscience Laboratories Ltd is a laboratory chemicals and reagents manufacturing company and a testing laboratory. Biomedicine & Bioscience Laboratories Ltd provides a broad range of laboratory chemicals and reagents to the UK/Europe and worldwide industry in order that the global laboratory industry, healthcare industries and related industries can enhance, excellence, and keep on advancing in their professionals activities. Biomedicine & Bioscience Laboratories Ltd (BLC) is further dedicated to
Biomedicine & Bioscience Laboratories
Biomedicine & Bioscience Laboratories Co. - (Medical) Standards Provider & Testing Laboratory Biomedicine & Bioscience Laboratories is a provider of (medical) standards and a testing laboratory. Biomedicine & Bioscience Laboratories provides BSI (British Standards Institution) standards primarily in order that the global laboratory and healthcare community can enhance, excellence, and keep on advancing in laboratory medicine and healthcare. Biomedicine & Bioscience Laboratories is also a laboratory that provides microbiological and chemical
BIOMEDICAL LABORATORIES ONLINE SHORT COURSES
Biomedical Laboratories Organized By Biomedical Professionals, the Biomedical Laboratories Team Starting Any time Learning Outcomes Various online courses provided for laboratory professionals. All courses are developed to introduce, refresh, update and/or further develop biomedical laboratory professionals regarding their continuing professional development (CPD) in these course program fields. After completion of a course the participant should have the knowledge and understanding of the basic techniques used in that specific course. A certificate will be awarded upon completion of
Environmental Laboratories in India
C.P.R. Environmental Education Centre is a Centre of Excellence of the Ministry of Environment and Forests , Government of India, established jointly by the Ministry and the C.P. Ramaswami Aiyar Foundation. C.P.R. Environmental Education Centre in collaboration with the British High Commission, New Delhi implemented a project on Biodiversity Conservation through Capacity Building. The objective of the project was to provide participants an understanding of the design and nature of