Growth in the esoteric testing market is primarily driven by the rising incidence of chronic and infectious diseases, increasing use of esoteric DNA sequencing technologies in precision medicine, early diagnosis of cancer, and advancements in the personalized medicine are the major factors driving the growth of the esoteric testing market.

What the Market Looks Like?

[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. Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market. In contrast, inadequate reimbursements of the esoteric tests may restrict market growth to a certain extent. The esoteric testing market is segmented based on type, technology, end user and region.

COVID-19 impact on the esoteric testing market

The growth of the esoteric testing market has declined due to the sudden outbreak of the COVID-19 pandemic. In the first quarter of 2020, companies faced certain operational and logistic challenges due to the imposition of lockdowns. Eventually, with the massive influx of COVID-19 patients and tremendous demand for mass scale diagnosis in various regions, companies escalated and deviated their focus from esoteric tests to the diagnostic offerings for COVID-19.

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What are Key Trends in the Market?

The growth of the Esoteric Testing Market is primarily influenced by the following factors:

1. Growing geriatric population and the increasing prevalence of chronic and infectious diseases
2. Increasing use of esoteric

Recent Developments

• In May 2021, Labcorp will acquire Myriad Genetics’ autoimmune business unit.
• In February 2021, Quest Diagnostics collaborated with GRAIL to support a first-of-its-kind multi-cancer early detection blood test called Galleri.
• In January 2021, OPKO Health Inc. (BioReference Laboratories) launched Scarlet Health, an in-home diagnostic, fully integrated digital platform, in the US.
• In March 2019, H.U. Group Holdings’ subsidiary, Miraca Holdings, partnered with the Chugai Pharmaceutical Co., Ltd.

Growth in the esoteric testing market is primarily driven by the rising incidence of chronic and infectious diseases, increasing use of esoteric DNA sequencing technologies in precision medicine, early diagnosis of cancer, and advancements in the personalized medicine are the major factors driving the growth of the esoteric testing market.

What the Market Looks Like?

[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. Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market. In contrast, inadequate reimbursements of the esoteric tests may restrict market growth to a certain extent. The esoteric testing market is segmented based on type, technology, end user and region.

COVID-19 impact on the esoteric testing market

The growth of the esoteric testing market has declined due to the sudden outbreak of the COVID-19 pandemic. In the first quarter of 2020, companies faced certain operational and logistic challenges due to the imposition of lockdowns. Eventually, with the massive influx of COVID-19 patients and tremendous demand for mass scale diagnosis in various regions, companies escalated and deviated their focus from esoteric tests to the diagnostic offerings for COVID-19.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=76794708

What are Key Trends in the Market?

The growth of the Esoteric Testing Market is primarily influenced by the following factors:

1. Growing geriatric population and the increasing prevalence of chronic and infectious diseases
2. Increasing use of esoteric

Growth in the esoteric testing market is primarily driven by the rising incidence of chronic and infectious diseases, increasing use of esoteric DNA sequencing technologies in precision medicine, early diagnosis of cancer, and advancements in the personalized medicine are the major factors driving the growth of the esoteric testing market.

What the Market Looks Like?

[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. Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market. In contrast, inadequate reimbursements of the esoteric tests may restrict market growth to a certain extent. The esoteric testing market is segmented based on type, technology, end user and region.

COVID-19 impact on the esoteric testing market

The growth of the esoteric testing market has declined due to the sudden outbreak of the COVID-19 pandemic. In the first quarter of 2020, companies faced certain operational and logistic challenges due to the imposition of lockdowns. Eventually, with the massive influx of COVID-19 patients and tremendous demand for mass scale diagnosis in various regions, companies escalated and deviated their focus from esoteric tests to the diagnostic offerings for COVID-19.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=76794708

What are Key Trends in the Market?

The growth of the Esoteric Testing Market is primarily influenced by the following factors:

1. Growing geriatric population and the increasing prevalence of chronic and infectious diseases
2. Increasing use of esoteric DNA sequencing technologies in precision medicine and the early diagnosis of cancer
3. Advancements in esoteric tests for personalized medicine
4. Increasing research funding for precision medicine, genetic analysis, and personalized medicine
5. Growing number of collaborations in the esoteric testing market

The HCS instruments market accounted for the largest share of HCS market primarily attributed to advances in instrumentation and automation techniques and high prices of the HCS instruments. The software segment is expected to register the highest growth during the forecast period. The growth of this market is attributed to the technological advancements in image acquisition, data analysis, and storage capabilities and the need to obtain information on changes in cell morphology through high-quality images.

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DNA sequencing technologies in precision medicine and the early diagnosis of cancer
3. Advancements in esoteric tests for personalized medicine
4. Increasing research funding for precision medicine, genetic analysis, and personalized medicine
5. Growing number of collaborations in the esoteric testing market

The HCS instruments market accounted for the largest share of HCS market primarily attributed to advances in instrumentation and automation techniques and high prices of the HCS instruments. The software segment is expected to register the highest growth during the forecast period. The growth of this market is attributed to the technological advancements in image acquisition, data analysis, and storage capabilities and the need to obtain information on changes in cell morphology through high-quality images.

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According to the new market research report ”Esoteric Testing Market by Type (Infectious Disease, Endocrinology, Oncology, Toxicology, Immunology, Neurology, Genetic Testing), Lab Type (Independent Labs, Hospital Laboratories), Technology (Mass Spectrometry, CLIA, ELISA, PCR) – Global Forecast to 2023“, published by MarketsandMarkets™, MarketsandMarkets forecasts the global esoteric testing market is projected to reach USD 35.24 billion by 2023 from USD 20.38 billion in 2018, at a CAGR of 11.6%.

Major Growth Drivers:

The rising demand for early and accurate disease diagnosis, increasing prevalence of infectious diseases, growing public-private investments as well as research funding & grants to develop innovative laboratory testing procedures, and advancements in clinical diagnostic techniques are the key factors driving the growth of the market. The objective of the report is to define, describe, and forecast the esoteric testing market size based on type, technology, laboratory type, and regions.

Expected Revenue Growth:

[223 Pages Report] MarketsandMarkets forecasts the global esoteric testing market is projected to reach USD 35.24 billion by 2023 from USD 20.38 billion in 2018, at a CAGR of 11.6%.

Accessories to Fuel the Growth of Esoteric Testing Market :

The MnM repository is referred to for high-level insights into the esoteric testing market. Each of the technologies, types, and end users involved in the esoteric testing services were analyzed through secondary research and validated with primary interviews. MnM also identified the key service providers in this market for the assigned countries and conducted interviews with the key industry experts to arrive at the market splits and shares. MnM triangulated all of this data to estimate the market size and forecast the growth of this market.

Browse in-depth TOC on “Esoteric Testing Market“

110 – Tables

37 – Figures223 – Pages

Download PDF Brochure:   https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=76794708 North America to account for the largest market size during the forecast period.

North America is expected to account for the largest share of the market followed by Europe. However, Asia Pacific is expected to register the highest CAGR during the forecast period owing to rising penetration of cutting-edge clinical laboratory technologies among masses (especially in rural areas) in Asia Pacific countries, development in healthcare infrastructure, and significant rise in the disposable income in the region.

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LabCorp (US), Quest Diagnostics (US), OPKO Health (US), Miraca Holdings (US), ARUP Laboratories (US), Myriad Genetics (US), Genomic Health (US), American Medical Laboratories (US), Foundation Medicines (US), Mayo Medical Laboratories (US), Primary Healthcare (Australia), Healthscope (Australia), Sonic Healthcare (UK), Fulgent Genetics (US), Spectra Laboratories (US), Nordic Lifesciences (US), InVitae (US), Unilabs (Switzerland), and SYNLAB (Germany).

What This Report Will Provide?

Growing patient awareness about the benefits of personalized medicine is one of the key factors resulting in the increased use of molecular diagnostics and genomics & proteomics technologies. Esoteric tests, which involve the analysis of 'rare' molecules or substances, are an essential part of individualized treatment regimens for many chronic diseases and conditions. 

Expected Revenue Growth:

[223 Pages Report] MarketsandMarkets forecasts the global esoteric testing market is projected to reach USD 35.24 billion by 2023 from USD 20.38 billion in 2018, at a CAGR of 11.6%. 

Major Growth Boosters:

The rising demand for early and accurate disease diagnosis, increasing prevalence of infectious diseases, growing public-private investments as well as research funding & grants to develop innovative laboratory testing procedures, and advancements in clinical diagnostic techniques are the key factors driving the growth of the market.

The objective of the report is to define, describe, and forecast the esoteric testing market size based on type, technology, laboratory type, and regions.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=76794708

Recent Developments (2016-2019):

• In 2017, LabCorp launched ADAMTS13 test to distinguish diseases characterized by life-threatening, acute thrombotic microangiopathy (TMA), including most significantly thrombotic thrombocytopenia purpura (TTP).
• In 2017, Myriad Genetics, Inc. launched the EndoPredict test in the US for patients with ER+ HER2- early-stage breast cancer. This test launch will strengthen the company’s oncology product portfolio and represents advancement in the treatment of patients with breast cancer.
• In 2017, Bristol-Myers Squibb Company and Foundation Medicine collaborated to leverage Foundation Medicine's comprehensive genomic profiling and molecular information solutions to identify predictive biomarkers such as Tumor Mutational Burden (TMB) and Microsatellite Instability (MSI) in patients.
• In 2017, GeneDx, a business unit of OPKO's BioReference Laboratories division, extended its partnership with the University of California Health (UC Health) for genetic, genomic, and molecular testing services.

Key Questions Addressed in The Report:

• Where will all these developments take the industry in the long term?
• What are the upcoming trends in the Esoteric Testing market?
• Which segment provides the most opportunity for growth?
• Who are the leading players operating in this market?
• What are the opportunities for new market entrants?

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By type, infectious diseases testing segment is expected to dominate the market during the forecast period

Among the type segment, the infectious diseases testing segment is expected to account for the largest share of the market during the forecast period. The large share of this segment is primarily attributed to the rising incidence/prevalence of target diseases (chronic, infectious, & lifestyle related diseases), the increasing adoption of advanced technologies, and the growing healthcare expenditure across the globe.

Regional Growth Analysis:

North America is expected to account for the largest share of the market followed by Europe. However, Asia Pacific is expected to register the highest CAGR during the forecast period owing to rising penetration of cutting-edge clinical laboratory technologies among masses (especially in rural areas) in Asia Pacific countries, development in healthcare infrastructure, and significant rise in the disposable income in the region.

Esoteric Testing Market – Overview:

The presence of mounting technically advanced devices and a developing degree of awareness of personalized medicine is expected to advance the development of the esoteric testing market further. The market is anticipated to benefit from the presence of key players in the market. Additionally, factors such as increasing government and private funding to support research activities are likely to boost the market growth during the forecast period.

The demand for esoteric testing has gained prominence due to the growing occurrence of chronic diseases. Reports that gauge the healthcare industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The Esoteric Testing Market Share is projected to perceive a CAGR of 8.6% in the impending period.

Competitive Analysis:

A significant climb in the number of backers in the market is expected to craft an advantageous state of affairs for the evolution of the market in the projected period. The escalated turnaround in the market is likely to set off new openings for the development of the market. The enhancement in different domestic economies is projected to encourage the progress of the market in the impending period. The ease in accessing key planned opportunities important to consequent stabilization of inflation is projected to generate a promising option for development in the approaching years. In the approaching years, the control exerted by fairly high-income level nations around the world and the likely gains observed towards a few of the currencies around the world is projected to strengthen the fruition of the market in the forecast period. The advancement of the market is projected to capture amplified impetus in the coming years chiefly due to the incidence of contributory government plans.

Major Players:

• Invitae
• Quest Diagnostics
• Spectra Laboratories
• Miraca Holdings
• Opko Health
• LabCorp
• ACM Global Laboratories
• Foundation Medicine
• Arup Laboratories
• Mayo Medical Laboratories
• Myriad Genetics
• Primary Health Care
• Sonic Healthcare
• Healthscope

Segmental Analysis:

• The segmentation of the esoteric testing market is carried out on the basis of technology, end-user, test type, and region.
• On the basis of test type, the esoteric testing market is segmented into endocrinology testing, oncology testing, genetic testing, infectious diseases testing, toxicology testing, neurology testing, immunology testing, and others.
• Based on the technology, the esoteric testing market is segmented into enzyme-linked immunosorbent assay, chemiluminescence immunoassay, mass spectrometry, real-time PCR, radioimmunoassay, flow cytometry, and others.
• Based on the end user, the esoteric testing market is segmented into research laboratories, independent and reference laboratories, and others.
• Based on region the esoteric testing market is segmented into the Asia Pacific, the Americas, Europe, and the Middle East and Africa.

Detailed Regional Analysis:

The regional assessment of the esoteric testing market observes that the North American region is the major market which is chiefly motivated by the growing number of research activities in healthcare, rising investment in healthcare by key market players, and the growing patient population suffering from chronic diseases. Also, the established market players in the developed countries are leading the market growth by pushing new products and services into emerging countries and economies. The European region’s esoteric testing market displays an optimistic growth with a growing emphasis on research and developmental activities for development in diagnosis and treatment methods. The Asia Pacific region is likely to be the fastest mounting market whose growth is accredited to the growing burden of chronic diseases and growing focus on initial diagnosis and treatment of rare diseases. Also, other factors adding to the development of the market are lifestyle changes, the effect of western culture among adults, and compulsion to smoke. The Middle Eastern and African regional market for esoteric testing displays a stable rise with a surge in the number of healthcare facilities offering treatment of chronic conditions and the prosperous growth of the medical device sector, particularly diagnostic devices.