The market growth is driven by advances in infectious and chronic diseases, precision medicines and early diagnosis.
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The Asian countries offer vast opportunities of growth in the market. However, the hindrance caused by the inadequate reimbursements may restrict the market growth to a certain limit. The report on the esoteric testing market additionally evaluates the critical open doors on the lookout and layouts the elements that are and will be driving the development of the business.
Based on the type, the esoteric testing market is segmented into infectious disease testing, endocrinology testing, oncology testing, genetic testing, toxicology testing, immunology testing, neurology testing, and other testing. the infectious disease testing segment accounted the largest share of the esoteric testing market. The largest share of the segment is attributed to the increasing incidence of infectious diseases, technological innovations in molecular diagnostics, and improving healthcare infrastructure in developing nations.
Based on technology, esoteric testing market is segmented into chemiluminescence immunoassay (CLIA), enzyme-linked immunosorbent assay (ELISA), mass spectrometry, real-time PCR, flow cytometry, DNA sequencing, and other technologies. CLIA accounted for the largest share of the esoteric testing market
Based on end user, the esoteric testing market is segmented into independent & reference laboratories and hospital-based laboratories. Independent & reference laboratories account for the largest share of the esoteric testing market. The largest share is attributed to the high testing volumes.
North America was the largest regional market for esoteric testing market. The large share of the North American market can be attributed to the increasing per capita healthcare expenditure, presence of the leading market players, increasing use of rapid diagnostics, expanding geriatric population, and advancing precision medicine in the region.
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Key Market Players
The prominent players operating in this market include Labcorp (US), Quest Diagnostics (US), and OPKO Health Inc. (US).
Labcorp (US) is one of the leading players in the esoteric testing market. Labcorp Diagnostics (Dx) is the diagnostic business segment of the company that operates through a network of rapid response laboratories, specialty laboratories, primary laboratories, patient service centers, and branches.
Expected Revenue Growth:
[244 Pages Report] The global esoteric testing market is projected to reach USD 36.3 billion by 2026 from USD 21.0 billion in 2021, at a CAGR of 11.6% during the forecast period.
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for this report:
- An additional three company profiles
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