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Esoteric Testing Market on growth track| Key Players: Genomic Health, ARUP Laboratories, ACM Global Laboratories, American Esoteric Laboratories

03-26-2019 02:34 PM CET | Health & Medicine

Press release from: Global Market Insights, Inc

Esoteric Testing Market

Esoteric Testing Market

The Esoteric Testing Market to exceed USD 35 billion by 2024; according to a new research report by Global Market Insights. Growing demand for proteomics and genomics coupled with increasing investment towards development of innovative test solutions for detecting rare substances in the body will propel business growth. The prediction and assessment of treatment response, growth of pharmaceutical industries and rising prevalence of chronic diseases has escalated demand for personalized genomics healthcare solutions. However, stringent regulations and dearth of skilled professionals in developing countries will restrain industry growth over the forecast timeframe.

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Increasing incidences of rare and complex diseases coupled with growing awareness about early disease diagnosis and treatment will drive esoteric testing market over the forecast period. According to European Commission, nearly 27 to 36 million people suffer from rare disease in European region.

Rapidly improving healthcare sector in developing countries along with rising number of sophisticated laboratories offering advanced services will favour industry growth. Growing number of baby boomers prone to suffer from several chronic conditions will act as high impacting factor for industry 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.

Regional Analysis:

U.S. esoteric testing market accounted for around 35% of the global industry share in 2017. Increasing prevalence of rare and complex diseases along with advancements in medical research will drive U.S. esoteric testing market over the coming years. Government initiated programs such as Obama Precision Medicine Initiative should positively impact industry growth.

Germany esoteric testing market should grow with more than 8.5% CAGR growth rate owing to increasing incidences of rare and complex diseases and high cutting edge technological adoption. Germany has well developed National Rare Disease Plan with centralized core programs for neonatal screening, national funding, access to treatments, robust research plans, coordinated networks and cross-border collaborations for rare diseases should propel industry growth.

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.

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.

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Esoteric Testing Market by Test-type

Endocrinology
Infectious disease & immunology
Oncology
Toxicology
Neurology
Genomics

Esoteric Testing Market by Technology

Mass spectrometry
Flow cytometry
ELISA
Radioimmunoassay
Chemiluminescence
RT-PCR

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.

Global Market Insights, Inc.
4 North Main Street
Selbyville, Delaware 19975 USA
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email:sales@gminsights.com

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