What is the Historic and Current Scenario of the Esoteric Testing Market?
The esoteric testing market has seen considerable growth due to a variety of factors.
•In recent times, there has been a swift expansion in the size of the esoteric testing market. The predicted growth is from $32.93 billion in 2024 to $36.71 billion in 2025, with a compound annual growth rate (CAGR) of 11.5%.
The notable growth during the historic period can be credited to progress in biotechnology, increment in chronic diseases, the development of precision medicine, more attention to rare diseases, and genomic discoveries.
What are the Forecasted Growth and Key Factors of the Esoteric Testing Market?
The esoteric testing market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of esoteric testing is predicted to experience considerable growth shortly, reaching a value of $59.58 billion in 2029 with a compound annual growth rate (CAGR) of 12.9%.
This predicted rise during the forecast period can be traced back to the growing need for early detection of diseases, the increase of the elderly population, the advancement in precision oncology, the expansion of rare disease studies, and worldwide health issues. The forecast period may see major trends like liquid biopsies and circulating biomarkers, exploration of the microbiome, integration of AI and machine learning, point-of-care esoteric evaluations, and wider scope for genetic and molecular testing.
What Are The Leading Drivers Of Growth In The Esoteric Testing Market?
The growth of the esoteric testing market is likely to be fueled by the rising occurrence of infectious diseases. These maladies, caused by infectious pathogens like bacteria and viruses, are linked to migration, travel, and environmental alterations. Esoteric testing employs high-end technology, notably nucleic acid technology, to identify the genetic material of infectious carriers. This provides more precise and sensitive results than commonplace methods such as microbial culture. For example, data released by the UK Health Security Agency in August 2024 indicated that there were 368 cases of measles in England in 2023, a near sevenfold increase from the 53 cases reported in 2022. The majority of these cases were observed in the West Midlands and London, accounting for 44% and 33% respectively. As a consequence, the upsurge in infectious diseases is propelling the esoteric testing market.
How Are The Segments Defined Within The Global Esoteric Testing Market?
The esoteric testing market covered in this report is segmented –
1) By Type: Infectious Diseases Testing, Endocrinology Testing, Oncology Testing, Genetics Testing, Toxicology Testing, Immunology Testing, Neurology Testing, Other Testing
2) By Technology: Chemiluminescence Immunoassay, Enzyme-Linked Immunosorbent Assay, Mass Spectrometry, Real-Time PCR, DNA (Deoxyribonucleic Acid) Sequencing, Flow Cytometry, Other Technologies
3) By End User: Independent And Reference Laboratories, Hospital-Based Laboratories
Subsegments:
1) By Infectious Diseases Testing: Viral Infections, Bacterial Infections, Fungal Infections
2) By Endocrinology Testing: Hormone Level Tests, Thyroid Function Tests, Metabolic Disorders Testing
3) By Oncology Testing: Tumor Marker Testing, Genetic Profiling, Liquid Biopsy Tests
4) By Genetics Testing: Carrier Screening, Prenatal Testing, Pharmacogenomics
5) By Toxicology Testing: Drug Testing, Heavy Metal Testing, Environmental Toxicity Testing
6) By Immunology Testing: Autoimmune Disease Testing, Allergy Testing, Infectious Disease Antibody Testing
7) By Neurology Testing: Neurodegenerative Disease Testing, Neuropathology Testing, Biomarker Analysis
8) By Other Testing: Rare Disease Testing, Cardiovascular Testing, Metabolic And Nutritional Testing
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How Are New Trends Expected To Influence The Growth Of The Esoteric Testing Market?
Technological innovations are emerging as a major trend in the esoteric testing industry. Developing new, advanced tech-based solutions is a strategy many key players in the market are implementing to maintain their market position. For example, Kephera Diagnostics, LLC, a medical diagnostics firm from the US, announced in June 2023 that it will offer CLIA-certified laboratory testing for three parasitic illnesses: Chagas disease, neurocysticercosis, and liver fluke infection. Not only does this extend their existing services for Lyme disease testing, but it also aims to enhance the identification of underdiagnosed parasitic infections within the U.S. The firm introduced two new tests for Chagas disease––an FDA-approved ELISA and a multiplex test to recognize the antibodies of the parasite.
Who Are the Key Players in the Esoteric Testing Market?
Major companies operating in the esoteric testing market include:
• LabCorp Holdings
• Quest Diagnostics Inc.
• Eurofins Scientific SE
• Sonic Healthcare Limited
• Miraca Holdings Inc.
• H.U. Group Holdings Inc.
• Arup Laboratories Inc.
• OPKO Health Inc.
• Mayo Medical Laboratories
• SYNLAB International GmbH
• Myriad Genetics Inc.
• Bio-Reference Laboratories Inc.
• NeoGenomics Laboratories
• Foundation Medicine Inc.
• Health Network Laboratories
• Fulgent Genetics Inc.
• Grifols S.A.
• Adaptive Biotechnologies Corporation
• Genova Diagnostics
• Kind star Globalgene Technology Inc.
• National Medical Services Inc. (NMS)
• ACM Global Laboratories LLC
• Miraca Life Sciences Inc.
• Leo Labs Inc.
• Pacific Bio labs Inc.
• Lab21 Healthcare Ltd.
• HealthQuest Esoterics Inc.
• Georgia Esoteric And Molecular Laboratory LLC.
• Atherotech Diagnostics Lab
• Spectra Laboratories Inc
What Is The Most Dominant Region In The Esoteric Testing Market?
North America was the largest region in the esoteric testing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the esoteric testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
