Esoteric Testing Market: By Type (Infectious Diseases Testing, Endocrinology Testing, Oncology Testing, Genetics Testing, Toxicology Testing, Immunology Testing, Neurology Testing, Other Testing), By Technology (Chemiluminescence Immunoassay, Enzyme-Linked Immunosorbent Assay, Mass Spectrometry, Real-Time PCR, DNA Sequencing, Flow Cytometry, Other Technologies), By End User (Independent & Reference Laboratories, Hospital-Based Laboratories), And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031
Esoteric Testing Market: By Type (Infectious Diseases Testing, Endocrinology Testing, Oncology Testing, Genetics Testing, Toxicology Testing, Immunology Testing, Neurology Testing, Other Testing), By Technology (Chemiluminescence Immunoassay, Enzyme-Linked Immunosorbent Assay, Mass Spectrometry, Real-Time PCR, DNA Sequencing, Flow Cytometry, Other Technologies), By End User (Independent & Reference Laboratories, Hospital-Based Laboratories), And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031
PRODUCT OVERVIEW
Esoteric testing is a laboratory analysis of a rare chemical or substance that isn't done in a typical clinical lab. When a physician requires further and specific information regarding a patient's health, these tests are conducted. To assess the results, you'll need a sophisticated device and materials, as well as a competent technician. Reference and esoteric testing labs are used by many large commercial labs to outsource difficult tests. However, as laboratory testing technology advances, tests that are currently deemed exotic may become routine in just a few years.
MARKET HIGHLIGHTS
The Global Esoteric Testing Market is expected to achieve a remarkable CAGR of 13% in 2031.
Global Esoteric Testing Market to surpass USD 88.4 billion by 2031 from USD 26.2 billion in 2021 at a CAGR of 13% in the coming years, i.e., 2021-2031. Increased frequency of chronic, infectious, and rare genetic diseases, as well as increased demand for enzyme linked immunosorbent assay (ELISA) and real time polymerase chain reaction (RT-PCR), are propelling the market forward. Furthermore, the market is likely to benefit from increased financing from commercial and government entities for diagnostic service centres, as well as advancements in technology for esoteric testing.
GLOBAL ESOTERIC TESTING MARKET: SEGMENTS
Infectious Diseases Testing segment is expected to lead with the highest CAGR during 2021-31
Based on Type, the global Esoteric Testing Market is fragmented into Infectious Diseases Testing, Endocrinology Testing, Oncology Testing, Genetics Testing, Toxicology Testing, Immunology Testing, Neurology Testing, and Other Testing. The infectious disease testing segment has dominated the market in recent years and is likely to continue to do so in the future, owing to an increase in the frequency of infection disease, breakthroughs in healthcare laboratory technology, and advances in molecular diagnostic technology.
Independent & Reference Laboratories segment to register significant market share CAGR during 2021-31
Global Esoteric Testing Market is classified on the basis of End User into Independent & Reference Laboratories, and Hospital-Based Laboratories. Owing to an increase in the number of laboratories, high testing volumes, and a spike in diagnostic laboratory digitalization, the independent and reference laboratories segment led the market in past years and is likely to continue this trend during the projection period.
MARKET DYNAMICS
Drivers
Growing Incidence of Chronic and Infectious Diseases
Improvements in Esoteric Test Technology
Restraint
Poor reimbursement of Esoteric Testing
GLOBAL ESOTERIC TESTING MARKET:
Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Baylor Esoteric and Molecular Laboratory
- Foundation Medicine
- Healius Limited
- Laboratory Corporation
- Mayo Foundation for Medical Education and Research
- OPKO Health
- Quest Diagnostics
- Sonic Healthcare Limited
- Stanford Clinical Pathology
- Other Prominent Players
GLOBAL ESOTERIC TESTING MARKET REPORT ALSO CONTAINS ANALYSIS ON:
Esoteric Testing Market Segments:
- By Type
- Infectious Diseases Testing
- Endocrinology Testing
- Oncology Testing
- Genetics Testing
- Toxicology Testing
- Immunology Testing
- Neurology Testing
- Other Testing
- By Technology
- Chemiluminescence Immunoassay
- Enzyme-Linked Immunosorbent Assay
- Mass Spectrometry
- Real-Time PCR
- DNA Sequencing
- Flow Cytometry
- Other Technologies
- By End User
- Independent & Reference Laboratories
- Hospital-Based Laboratories
- Esoteric Testing Market Dynamics
- Esoteric Testing Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Reasons to Purchase this Report - Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 3-month post-sales analyst support.
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