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Esoteric Testing Market is estimated to expand at a CAGR of 11.4% during forecast period 2022-2032 | Labcorp, Sonic Healthcare, Mayo Foundation for Medical Education and Research, Eurofins Scientific

08-24-2023 01:18 PM CET | Health & Medicine

Press release from: Global Insight Services

Esoteric Testing Market

Esoteric Testing Market

The global Esoteric Testing Market was valued at USD 21.4 billion in 2022 and it is anticipated to grow further up to USD 62.9 billion by 2032, at a CAGR of 11.4% during the forecast period.

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Esoteric Testing involves the laboratory examination of uncommon molecules and substances that is not often done in a clinical laboratory. These tests are carried out when a doctor needs more comprehensive information regarding the patient's health. To assess the outcome, a sophisticated device, materials, and specialist are needed.

Market Trends and Drivers

The growing geriatric population coupled with the increasing prevalence of chronic and infectious diseases and advancing esoteric DNA sequencing technologies in precision medicine, early diagnosis of cancer, and precision medicine are boosting the growth of the market. Globally, chronic diseases including diabetes, heart disease, and cancer are on the rise.

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Infectious disease prevalence is also rising at an alarming rate and includes diseases like Dengue, Hepatitis B, C, HIV, Malaria, Tuberculosis, and others. The knowledge of esoteric testing for the quick and accurate detection of certain disorders is growing.

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Esoteric tests' improving technology is providing quicker results with improved sensitivity, detection limits, and efficacy. The market is expanding as a result of the rising use of esoteric DNA sequencing, NGS technologies, and whole genome sequencing in the early diagnosis of cancer, precision medicine, and personalized medicine.

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Global Esoteric Testing Market Segmentation:

By Type

Infectious Diseases Testing
Endocrinology Testing
Oncology Testing
Genetics Testing
Toxicology Testing
Immunology Testing
Neurology Testing
Others

By Technology

Chemiluminescence Immunoassay
Enzyme-Linked Immunosorbent Assay
Mass Spectrometry
Real-Time PCR
DNA Sequencing
Flow Cytometry
Others

By End User

Independent & Reference Laboratories
Hospital Based Technologies

Major Players in the Global Esoteric Testing Market

The key players in the global esoteric testing market are Labcorp(U.S), Sonic Healthcare(Australia), Mayo Foundation for Medical Education and Research(U.S), Eurofins Scientific(Luxembourg), Kindstar Global Technology, Inc.(China), ARUP Laboratories(U.S), BioAgilytix Labs(U.S), HealthQuest Esoterics(U.S), BUHLMANN Diagnostics Corp(U.S), Leo Labs, Inc.(India).

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About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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