United States Esoteric Testing - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

United States Esoteric Testing - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The United States Esoteric Testing Market size is estimated at USD 8.53 billion in 2024, and is expected to reach USD 11.79 billion by 2029, growing at a CAGR of 6.70% during the forecast period (2024-2029).

The COVID-19 epidemic had an impact on the growth of the esoteric testing market in the United States. The COVID-19 pandemic has put a strain on the US healthcare system and boosted the need for ELISA and RT-PCR testing to detect COVID-19. For instance, in February 2021, Agilent Technologies Inc. launched the Agilent Dako SARS-CoV-2 IgG Enzyme-Linked Immunosorbent Assay (ELISA) kit to detect immunoglobulin G (IgG) antibodies qualitatively to SARS-CoV-2 in human serum or plasma. Thus, the demand for esoteric testing has increased during the pandemic. However, the market continued to grow post-pandemic over the forecast period due to the significant adoption of esoteric testing in the diagnosis of chronic and infectious diseases.

The rise in the prevalence of chronic and infectious diseases in the United States, advancements in R&D activities in the healthcare sector, increased population awareness for early diagnosis, and an increase in the number of diagnostic tests are expected to significantly contribute to the growth of the United States esoteric testing market during the forecast period. For instance, as stated in the American Heart Association 2021 Journal, it is estimated that by the year 2035, more than 130 million adults in the United States will have some type of heart disease. Additionally, according to Cancer Facts and Figures 2022, published in January 2022 by the American Cancer Society, there were around 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the United States in 2022. The need for precise diagnosis and treatment is enhanced by the rising incidence of cancer and the significant burden of other chronic diseases. This is likely to boost the adoption of esoteric testing for early diagnosis purposes, which will ultimately spur market expansion over the forecast period.

Moreover, market participants are concentrating on the development of innovative techniques for utilizing esoteric testing technology. For instance, in June 2021, Thermo Fisher Scientific introduced the Invitrogen Attune CytPix flow cytometer, which allows users to better comprehend cell morphology and quality. Thus, all the aforementioned factors are expected to boost market growth over the forecast period. However, the high price of diagnostic procedures has limited the growth of the market.

United States Esoteric Testing Market Trends

Infectious Diseases Testing Segment is Expected to Hold a Significant Market Share Over the Forecast Period

Infectious diseases are caused by pathogenic microorganisms, such as bacteria, viruses, parasites, or fungi. Diseases can be spread, directly or indirectly, from one person to another. Zoonotic diseases are infectious diseases of animals that can cause disease when transmitted to humans. Recently, the cases of certain infectious diseases in the United States have increased. For instance, as per the Department of Health and Human Services Report published in 2021, in 2020, 30,635 people received an HIV diagnosis in the United States and its dependent areas. An increase in infectious diseases is expected to boost the esoteric testing market in the United States.

Furthermore, new research and development, technological breakthroughs, and the introduction of technologically upgraded items by key rivals are expected to fuel market growth. Altona Diagnostics released one in-vitro diagnostic test in April 2021 that recognizes and measures the human immunodeficiency virus (HIV) specific RNA in human plasma. It uses real-time RT-PCR technology. The 1.5 AltoStar HIV RT-PCR Kit was the name of the test. Thus, all the aforementioned factors are expected to boost segment growth over the forecast period.

Chemiluminescence Immunoassay Segment is Expected to Hold a Significant Market Share Over the Forecast Period

Chemiluminescence (CL) is described as the discharge of electromagnetic radiation owing to the production of light by a chemical reaction. Chemiluminescence immunoassay (CLIA) is an assay incorporating the technique of chemiluminescence with immunochemical reactions. The segment's growth is driven by the rising prevalence of chronic diseases and product launches by the market players.

As per the CDC (Centers for Disease Control and Prevention) data updated in February 2022, coronary artery disease, ischemic heart disease, or history of myocardial infarction accounted for 7.2% of emergency room visits currently, and the data updated in January 2022 by the CDC shows that the number of visits to emergency departments with stroke as the primary diagnosis was 432,000 in the previous year. Thus, the significant burden of chronic diseases in the United States is expected to rise in demand for esoteric testing and thereby boost segment growth.

In addition, according to the American Academy of Dermatology Association, more than 1 million Americans are living with melanoma. In the United States, 197,700 new cases of melanoma will be diagnosed in 2022, with 97,920 non-invasive (in situ) and 99,780 invasive cases. Melanoma claims the lives of over 20 Americans every day. Melanoma is anticipated to kill 7,650 people in 2022, with 5,080 males and 2,570 females dying. Thus, the increasing prevalence and burden of chronic diseases in the country demand effective diagnosis and treatment methods, resulting in increased use of CLIA methods. This is expected to contribute to the growth of the market.

The approval and introduction of new products will likely drive segment growth throughout the forecast period. For instance, in May 2021, the US Food and Drug Administration gave emergency permission to Inova Diagnostics' QUANTA Flash SARSCoV2 IgG for use in the BIOFLASH Random Access Chemiluminescent Analyzer. Thus, all the aforesaid factors, such as the growing burden of chronic diseases and product approval, are expected to boost segment growth over the forecast period.

United States Esoteric Testing Industry Overview

The United States' esoteric testing market is consolidated with the presence of several players. It encourages innovation, research, and development. Companies like Labcorp, Quest Diagnostics, OPKO Health Inc., Laboratory Corporation of America, Fulgent Genetics, Mayo Medical Laboratories, Invitae, Myriad Genetics, Nordic Laboratories, Genomic Health, American Esoteric Laboratories (AEL), Miraca Holdings hold a substantial market share in the Esoteric Testing market.

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