Esoteric Testing Market Size, Share & Trends by Type (Endocrinology, Oncology, Neurology, Genetic Tests, Autoimmune, Infectious Diseases), Technology (ELISA, CLIA, Flow Cytometry, NGS, RT-PCR, Chromatography, Spectrometry), Specimen (Blood, Urine) - Globa

Esoteric Testing Market Size, Share & Trends by Type (Endocrinology, Oncology, Neurology, Genetic Tests, Autoimmune, Infectious Diseases), Technology (ELISA, CLIA, Flow Cytometry, NGS, RT-PCR, Chromatography, Spectrometry), Specimen (Blood, Urine) - Global Forecast to 2029

The global esoteric testing market is valued at an estimated USD 32.2 billion in 2024 and is projected to reach USD 48.3 billion by 2029, at a CAGR of 8.5% during the forecast period. Growth in the esoteric testing market is primarily driven by the increasing prevalence of chronic and infectious diseases, advancements in esoteric tests for personalized medicine, and increasing research funding for precision medicine.

“The Oncology testing segment accounted for the highest CAGR of the esoteric testing market in 2023, by type”

Based on type, the esoteric testing market is segmented into infectious disease testing, autoimmune disease testing, endocrinology testing, oncology testing, genetic testing, toxicology and drug monitoring testing, neurology testing, and other types of testing. Esoteric oncology tests are used to determine the hereditary risk of cancer and are essential in diagnosis, prognosis, and treatment decisions. The growth of the oncology testing segment is driven by the rising prevalence of cancer and the increased adoption of various esoteric tests.

“The chemiluminescence immunoassay (CLIA) segment is projected to witness highest growth rate in the esoteric testing market, by technology, during the forecast period.”

The esoteric testing market is segmented into chemiluminescence immunoassay (CLIA), enzyme-linked immunosorbent assay (ELISA), real-time PCR, chromatography and mass spectrometry, flow cytometry, DNA sequencing and next-generation sequencing, and other technologies, based on technology . Growth in the number of specialized diagnostic laboratories equipped with advanced CLIA technology and the need for early diagnosis have necessitated the use of CLIA tests across the globe. Aggressive R&D expenditures by players and the development of innovative technologies such as chemiluminescent biochips, multiplexed assays, and portable immunoassays are also expected to support the growth of the CLIAs market in the coming years.

“The blood, serum, and plasma segment accounted for the largest market share of esoteric testing market, in 2023, by specimen”

Based on specimens, the esoteric testing market is segmented into blood, serum, and plasma, urine, and other specimens. The large share of this segment is attributed to the growing number of blood donations globally and the increasing incidence of chronic & infectious diseases worldwide.The use of blood as a specimen in esoteric testing is driven by its minimally invasive nature, comprehensive biomarker potential, and technological advancements. These factors, coupled with the growing emphasis on personalized medicine, regulatory support, and the need for efficient infectious disease testing, are propelling the growth of blood-based esoteric tests.

“The independent & reference laboratories segment accounted for the largest share of the esoteric testing market in 2023, by end user”.

Based on end users, the esoteric testing market is segmented into independent & reference laboratories and hospital-based laboratories. The demand for personalized medicine, the increasing prevalence of chronic and genetic diseases, and the need for cost-effective and efficient diagnostic solutions are key growth factors driving the importance of reference laboratories operating in the esoteric testing market in the coming years.

“The Asia Pacific region is projected to witness highest growth rate in the esoteric testing market during the forecast period”

The global esoteric testing market is segmented into six regions - North America, Europe, Latin America, Asia Pacific, the Middle East & Africa, and the GCC Countries. The Asia Pacific market, which comprises Japan, Australia, India, China, and the Rest of Asia Pacific, is expected to offer significant growth opportunities to market players and is projected to register the highest CAGR in the esoteric testing market during the forecast period. Government efforts to increase awareness about early disease detection and regular health checkups, rising healthcare expenditure, and the increasing number of hospitals and clinical diagnostic laboratories, and growing awareness regarding the use of esoteric tests among physicians are some of the major factors driving the growth of the esoteric testing market in the Asia Pacific.

The primary interviews conducted for this report can be categorized as follows:

By Company Type: Tier 1 - 45%, Tier 2 - 38%, and Tier 3 - 17%

By Designation: C-level - 24%, D-level - 32%, and Others - 44%

By Region: North America – 35%, Europe – 26%, Asia Pacific – 24%, Latin America – 12%, Middle East & Africa – 1%, and the GCC Countries – 2%

Lists of Companies Profiled in the Report:

Quest Diagnostics (US), Labcorp (US), H.U. Group Holdings, Inc. (Japan), Sonic Healthcare (Australia), OPKO Health, Inc. (US), Myriad Genetics, Inc. (US), The Mayo Foundation for Medical Education and Research (MFMER) (US), Eurofins Scientific (Luxembourg), Stanford Health Care (US), Foundation Medicine, Inc. (US), Kindstar Globalgene Technology, Inc. (China), Georgia Esoteric & Molecular Laboratory, LLC (US), Thyrocare Technologies Ltd. (India), ACM Global Laboratories (US), NMS Labs (US), HealthQuest Esoterics (US), Cerba Research (US), LeoLabs (India), Flow Health (US), Invitae Corporation (US), ARUP Laboratories (US), Fulgent Genetics (US), bioMONTR Labs (US), and LabGenomics (South Korea).

Research Coverage:

In this report, the esoteric testing market has been categorized based on technology (enzyme-linked immunosorbent assay (ELISA), chemiluminescence immunoassay (CLIA), real-time PCR, flow cytometry, DNA sequencing and next-generation sequencing, chromatography and mass spectrometry, and other technologies), type (oncology testing, infectious disease testing, autoimmune disease testing, genetic testing, endocrinology testing, toxicology and drug monitoring testing, neurology testing, and other types of testing), specimen (blood, serum, and plasma, urine, and other specimens) end user (independent & reference laboratories and hospital-based laboratories), and region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and the GCC Countries).

The report's coverage includes comprehensive details about the key factors impacting the growth of the esoteric testing market, including opportunities, challenges, opportunities, and restraints. To offer insights into their business overview, services offered, significant strategies, acquisitions and partnerships, service launches, and recent developments related to the esoteric testing market, a thorough analysis of the major industry players has been conducted. This study examines the competitive landscape of emerging esoteric testing startups.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall esoteric testing market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, challenges, trends, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers: (Advancements in esoteric tests for personalized medicine, increasing research funding for precision medicine, genetic analysis, and personalized medicine, growing number of collaborations), challenges (Dearth of skilled professionals and inaccuracies and misdiagnosis in diagnostic testing), opportunities (Emerging technologies and advanced tests for screening and risk identification in esoteric testing, and advances in understanding heterogeneity of diseases and safety signals), and restraints (Inadequate reimbursement, high capital investments and low-cost-benefit ratio for biomarkers) influencing the growth of the in esoteric testing market.

Service Development/Innovation: Detailed insights on research & development activities and new service launches in the esoteric testing market.

Market Development: Comprehensive information about lucrative markets – the report analyses the esoteric testing market across varied regions.

Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the esoteric testing market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Quest Diagnostics (US), LabCorp (US), and H.U. Group Holdings, Inc. (Japan), among others, in the esoteric testing market strategies.