Press release
North America Esoteric Testing Market to Catch Up to Demand by 2025, Say Researchers - Graphical Research
According to the Graphical Research new growth forecast report titled “North America Esoteric Testing Market Size By Test Type (Endocrinology, Infectious Disease & Immunology, Oncology, Toxicology, Neurology, Genomics), By Technology (Mass Spectrometry, Flow Cytometry, ELISA, Radioimmunoassay, Chemiluminescence, RT-PCR), Industry Analysis Report, Regional Outlook (U.S., Canada), 2019-2025”, Estimated To Exceed USD 14 Billion By 2025.
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Growing incidence of rare and infectious diseases should highly impact North America esoteric testing business growth. According to Centers for Disease Control and Prevention, in the year 2015 and 2016, huge Zika virus disease outbreak occurred in the Americas leading to rise in travel-related Zika virus affected people in the U.S. Similarly, increasing transmission of other infectious diseases as well as expanding prevalence of genetic disorders will spur North America esoteric testing market in the upcoming years.
However, requirement of high quality standards for esoteric tests may hinder esoteric testing industry growth in forthcoming years.
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Endocrinology esoteric testing market was valued at over USD 1.6 billion in 2018. Growing pervasiveness of hormonal disorders owing to adoption of sedentary lifestyle and consumption of unhealthy food will escalate the demand for esoteric testing. The American Thyroid Association estimates that around 12% of the U.S. population will develop a thyroid condition in their lifetime. In addition, growing geriatric population that is prone to various endocrine dysfunction will boost endocrinology esoteric market growth in the upcoming years.
Chemiluminescence esoteric testing is forecasted to proceed at 10.0% CAGR over the forecast timeframe. High receptivity and reliability of the technology escalates customer preference for chemiluminescence in esoteric testing. Chemiluminescence is more sensitive than other technologies and is able to assay large number of test samples in a shorter time duration. Such beneficial features of the chemiluminescence technology will assist segmental growth over the forecast period.
Canada esoteric testing held USD 741.8 million revenue size in 2018. Increasing focus on development of esoteric testing in the academic commercial laboratories across Canada should highly impact its adoption across the nation. Growing healthcare infrastructure and investment in research and development will thus support advancement in esoteric testing over the coming years. Moreover, increasing occurrence of infectious diseases will expand Canada esoteric testing industry growth in the foreseeable future.
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Major market players in North America esoteric testing market are Laboratory Corporation of America, Opko Health, Myriad Genetics and Quest Diagnostics. Key market players are undertaking strategies such as mergers and strategic alliances for geographical and business expansion. For instance, in January 2017, Quest diagnostics partnered with Montefiore Health System. This partnership was envisioned with an aim to deliver innovative laboratory services coupled with high-value.
Segments we cover:
North America Esoteric Testing Market, By Test Type, 2014-2025, (USD Million)
Endocrinology
Infectious Disease & Immunology
Oncology
Toxicology
Neurology
Genomics
Others
North America Esoteric Testing Market, By Technology, 2014-2025, (USD Million)
Mass Spectrometry
Flow Cytometry
ELISA
Radioimmunoassay
Chemiluminescence
RT-PCR
Others
Browse key industry insights from this Report @ https://www.graphicalresearch.com/industry-insights/1172/north-america-esoteric-testing-market
Contact Us:
Parikhit B.
Corporate sales,
Graphical Research
Email: sales@graphicalresearh.com
Web: https://www.graphicalresearch.com/
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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