Esoteric Testing Market Will reach at a CAGR of 12.25% by 2029

The market insights and analysis for Healthcare industry present in the superior Esoteric Testing market document are backed up by SWOT analysis. In this report, several aspects about the market research and analysis for the Healthcare industry have been underlined. This market report acts as a great support to any size of the business whether it is large, medium or small. The precise and state-of-the-art information provided via this report helps businesses get aware about the types of consumers, consumer's demands and preferences, their point of view about the product, their buying intentions, their response to particular product, and their varying tastes about the specific product already existing in the market.
Data Bridge Market Research analyses that the esoteric testing market is expected to reach the value of USD 37.21 billion by the year 2029, at a CAGR of 12.25% during the forecast period. The rising prevalence of chronic diseases, as well as an increase in the geriatric population, is propelling the esoteric testing market forward. North America accounted for a significant share of the esoteric testing market and is expected to maintain its dominance during the forecast period, owing to an increase in chronic disease prevalence, an increase in the number of diagnostic tests, and technological advancement in esoteric testing

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Esoteric testing is the examination of 'rare' molecules or substances. It is not a routine test in a clinical laboratory. These tests are used when more information than routine lab testing is needed for proper disease diagnosis, establishing a prognosis, or selecting and supervising a therapeutic treatment. Esoteric testing necessitates the use of skilled personnel to perform the test and analyse the results due to the use of sophisticated chemicals and instruments.
Drivers

The rise in the cases of infectious diseases
During the forecast period of 2022-2029, the growing number of infectious disease patients is expected to accelerate the growth of the esoteric testing market. Growing awareness of personalised medicine, on the other hand, and advancements in product technologies will boost various opportunities, resulting in the growth of the esoteric testing market during the forecast period.

The increase in demand of ELISA and (RT-PCR)
The global esoteric testing market is primarily driven by an increase in the prevalence of chronic, infectious, and rare genetic diseases, an increase in demand for enzyme linked immunosorbent assay (ELISA) and real time polymerase chain reaction (RT-PCR), an increase in funding from private and government organisations for diagnostic service centres, and technological advances in esoteric testing.

Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the esoteric testing market.

Opportunities

Increasing personalised medicine, mass cytometry development, and the combination of cell- and bead-based flow cytometry technologies, improving healthcare infrastructure in emerging markets, and the rise of miniaturised and technologically advanced devices will all create new opportunities for the esoteric testing market.

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Global Esoteric Testing Market Scope
The esoteric testing market is segmented on the basis of type, technology and laboratory type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Immunology testing
genetic testing
Infectious diseases
Endocrinology test
Oncology test
Toxicology testing
Neurology testing
others
Based on type, the esoteric testing market is segmented into immunology testing, genetic testing, infectious diseases, endocrinology test, oncology test, toxicology testing, neurology testing and others.

Esoteric testing

chemiluminescence immunoassay
enzyme-linked immunosorbent assay
flow cytometry
mass spectrometry
real time-polymerase chain reactionPCR
radioimmunoassay
others
Esoteric testing market has also been segmented based on the technology into chemiluminescence immunoassay, enzyme-linked immunosorbent assay, flow cytometry, mass spectrometry, real time-polymerase chain reactionPCR, radioimmunoassay and others.

Laboratory type

independent and reference laboratories
hospital laboratories
On the basis of laboratory type, the esoteric testing market is further classified into independent and reference laboratories and hospital laboratories.

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Some of the major players operating in the esoteric testing market are:

Quest Diagnostics (US)
OPKO Health, Inc. (US)
MIRACA HOLDINGS Inc.(Japan)
Myriad Genetics, Inc. (US)
Sonic Healthcare (Australia)
Healthscope, Foundation Medicine (US)
ACM Global Laboratories (India)
ARUP Laboratories (US)
Fulgent Genetics (US)
Invitae Corporation (US)
Mayo Foundation for Medical Education and Research (US)
Fresenius Medical Care (Germany)
Charles River Laboratories (US).
Pacific Bio labs, Inc.(US)
Merck KGaA (Germany)
WuXi AppTec (China)
North American Science Associates Inc. (US)
Nelson Laboratories, LLC (US)

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