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Esoteric testing market Statistical Analysis Report 2019| Top Companies: Genomic Health, ARUP Laboratories, ACM Global Laboratories, American Esoteric Laboratories
Esoteric Testing Market
Increasing prevalence of chronic diseases and infectious diseases in developing countries such as China along with rising geriatric population, highly susceptible to suffer from chronic disorders will drive esoteric testing market over the forecast timeframe. Rising number of people suffering from rare diseases has escalated burden on healthcare systems to develop innovative test solutions, thereby fueling industry growth. Furthermore, sophistication of laboratory equipment leading to growing adoption of ground breaking technologies such as flow cytometry, mass spectrometry and real time-PCR will favor industry growth.
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Infectious disease and immunology segment accounted for around 28% market share in 2017 owing to high prevalence of infectious diseases coupled with high demand for advanced molecular tests. Availability of immunology laboratory services for every medical specialty will positively impact segment growth in the foreseeable future.
Globally, growing awareness regarding early disease diagnosis and treatment coupled with rising incidences of cancer will drive oncology segment growth over the forecast timeframe. Introduction of esoteric tests such as BRCAvantage developed by Quest Diagnostics for patients suffering from Hereditary Breast and Ovarian Cancer (HBOC) syndrome, who are at higher risk of suffering from cancer will positively impact business growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Myriad Genetics
• Litholink / Laboratory Corporation of America
• Mayo Medical Laboratories
• Miraca Holdings Inc.
• Nordic
• Immunological laboratories BV
• Quest Diagnostics
• Genomic Health
• ARUP Laboratories
• ACM Global Laboratories
• American
• Esoteric Laboratories
• Fulgent Genetics
• OPKO Health, Inc.
Chemiluminescence business segment dominated esoteric testing industry in 2017 and is anticipated to witness over 10% CAGR growth owing to high adoption of chemiluminescence in esoteric testing due to its high efficiency along with necessity of small sample. Superior sensitivity and accuracy delivered by this technology using low analyte concentration will further stimulate business growth.
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ELISA business segment held over 20% of business share in 2017 and will witness more than 9.5% growth from 2018 to 2024. Moreover, ELISA is common technique for basic research, high throughput screening performed in laboratories, and drug discovery program. New developments in biomarker field leading to availability of new targets will generate revenue growth for the segment.
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.
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Chapter 3. Esoteric Testing Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.2. Industry pitfalls & challenges
3.4. Growth potential analysis
3.4.1. By test-type
3.4.2. By technology
3.5. Types of business models
3.5.1. Mobile lab services
3.5.2. Full service diagnostics
3.5.3. Reference/ Consulting Services
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.
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