Esoteric Testing Market Size to Reach USD 66,214.79 Million by 2030 at a CAGR of 12.5% - Valuates Reports

The esoteric testing market size was valued at USD 20,218.60 Million in 2020 and is estimated to reach USD 66,214.79 Million by 2030, growing at a CAGR of 12.5% from 2021 to 2030.

Major factors driving the growth of the esoteric testing market:

An increase in the prevalence of chronic, infectious, and rare genetic disease; rise in demand for enzyme-linked immunosorbent assay (ELISA) and real-time polymerase chain reaction (RT-PCR) is expected to increase the market growth.

An increase in funding from private & government organizations for the diagnostic service center and advancement in technology for esoteric testing is also expected to boost the market.

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The Global Esoteric Testing Market is Segmented by Type (Infectious Disease Testing, Oncology Testing, Endocrinology Testing, Genetic Testing, Toxicology Testing, Immunology Testing, Neurology Testing, and Other Testing), Technology (Enzyme-Linked Immunosorbent Assay, Chemiluminescence Immunoassay, Mass-Spectrometry, Real Time Polymerase Chain Reaction, DNA Sequencing, Flow Cytometry, and Other Technologies), and End User (Hospital-based Laboratories and Independent and Reference Laboratories)

Based on type the infectious disease testing segment dominated the market in 2020 and is expected to continue this trend during the forecast period. This is attributed to an increase in the prevalence of infectious disease, development in healthcare laboratories, and advancements in technology for molecular diagnostics.

Based on technology, the chemiluminescence immunoassay segment dominated the esoteric testing market in 2020 and is expected to continue this trend during the forecast period. This is attributed to the increase in the prevalence of chronic diseases such as autoimmune disease, diabetics, heart disease, and cancer; surge in awareness about early diagnosis of disease; and advancement in R&D for drug discovery and development activities.

Based on end user-independent and reference laboratories, the segment dominated the market in 2020 and is expected to continue this trend during the forecast period. This is due to the increase in the number of laboratories, high testing volumes, and surge in digitalization of diagnostic laboratories.

Because of the rise in the prevalence of chronic disease, the increase in the number of diagnostic tests, and technological advancement in esoteric testing, North America accounted for a large share of the esoteric testing market in 2020, and it is expected to maintain its dominance during the forecast period. However, Asia-Pacific is expected to register the highest CAGR of 13.4% from 2021 to 2030.

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Similar Reports:

1. CTMS Market: https://reports.valuates.com/market-reports/QYRE-Auto-8Z2614/global-clinical-trial-management-system

2. Infectious Disease Diagnostic Market: https://reports.valuates.com/market-reports/QYRE-Othe-2K269/infectious-disease-diagnostic

3. Genetic Testing Market: https://reports.valuates.com/market-reports/ALLI-Auto-0I340/genetic-testing

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