Esoteric Testing Market: Current Analysis and Forecast (2021-2027)

Esoteric Testing Market: Current Analysis and Forecast (2021-2027)

  • UnivDatos Market Insight
  • August 2021
  • Healthcare
  • 218 pages

Report Description

Esoteric testing is the examination of uncommon chemicals or molecules that are not detected in conventional clinical laboratory tests. Endocrinology, genetics, immunology, microbiology, molecular diagnostics, oncology, serology, and toxicology are some of the areas where esoteric testing is performed. In-house esoteric testing is usually outsourced to independent and specialized clinical reference laboratories.

Over the forecast period, the market will be driven by an increase in the frequency of rare and complex diseases, as well as increased awareness about early disease detection and treatment. According to the European Commission, rare diseases affect nearly 27 to 36 million individuals throughout Europe. The rapidly growing healthcare sector in developing countries, as well as an increase in the number of sophisticated laboratories providing advanced services, will help the industry flourish. The growing number of baby boomers who are susceptible to a variety of chronic illnesses will have a significant impact on industry growth. North America and Asia-Pacific would be the top two markets for Esoteric Testing, owing to the increasing patient population suffering from chronic diseases and rising increased adoption of rapid diagnostics. Based on type the global Esoteric Testing market is bifurcated into infectious diseases testing, endocrinology testing, oncology testing, genetic testing, toxicology testing, immunology testing, neurology testing, and others. Currently, the infectious diseases testing segment dominates the market and is expected to maintain its dominance during the forecast period. 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 the market is divided into Power line chemiluminescence immunoassay, enzyme-linked immunosorbent assay, mass spectrometry, real-time PCR, flow cytometry, radioimmunoassay, and others. The chemiluminescence immunoassay segment dominated the market in 2020 owing to its advantages over other testing methods, such as high-performance levels, low detection limits; etc. 

Based on end-user the market is bifurcated into independent & reference laboratories, research laboratories, and hospital-based laboratories. Currently independent & reference laboratories segment dominates the market and is expected to maintain its dominance during the analyzed period owing to the presence of improved diagnostic equipment and devices.

For a better understanding of the market adoption, the report provides detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC), and Rest of World. North America constitutes a major market for esoteric testing owing to the advanced technology for diagnosis and treatment of chronic disorders, availability of private and government funding, etc.

Some of the major players operating in the market include LabCorp, Quest Diagnostics, Invitae Corporation, Mayo Medical Laboratories, Spectra Laboratories, Opko Health, Miraca Holdings, Foundation Medicine, Myriad Genetics, and Sonic Healthcare.

Global Esoteric Testing Market was valued at USD XX billion in 2020 and is projected to expand significantly with a CAGR of XX% from 2021-2027F. The Global Esoteric Testing Market is expected to witness a boost on account of the increasing prevalence of rare and infectious diseases.

Esoteric testing is the examination of uncommon chemicals or molecules that are not detected in conventional clinical laboratory tests. Endocrinology, genetics, immunology, microbiology, molecular diagnostics, oncology, serology, and toxicology are some of the areas where esoteric testing is performed. In-house esoteric testing is usually outsourced to independent and specialized clinical reference laboratories Over the forecast period, the market will be driven by an increase in the frequency of rare and complex diseases, as well as increased awareness about early disease detection and treatment. According to the European Commission, rare diseases affect nearly 27 to 36 million individuals throughout Europe. The rapidly growing healthcare sector in developing countries, as well as an increase in the number of sophisticated laboratories providing advanced services, will help the industry flourish. The growing number of baby boomers who are susceptible to a variety of chronic illnesses will have a significant impact on industry growth. North America and Asia-Pacific would be the top two market for Esoteric Testing, owing to the increasing patient population suffering from chronic diseases and rising increased adoption rapid diagnostics.

Over the forecast period, the market will be driven by an increase in the frequency of rare and complex diseases, as well as increased awareness about early disease detection and treatment. According to the European Commission, rare diseases affect nearly 27 to 36 million individuals throughout Europe. The rapidly growing healthcare sector in developing countries, as well as an increase in the number of sophisticated laboratories providing advanced services, will help the industry flourish. 

Furthermor, the increase in incidences of cancer globally owing to the increase in geriatric population has been one of the prime factors that augment market growth. In 2020, according to WHO, cancer was considered as the leading cause of death in the world. Nearly 10 million people die due to cancer each year, making it the second leading cause of death across the world. Esoteric Testing scans can help in finding tumors and to analyze how much the cancer has spread in the body (called the cancer’s stage). They can also be used to determine whether treatment is effective.

LabCorp, Quest Diagnostics, Invitae Corporation, Mayo Medical Laboratories, Spectra Laboratories, Opko Health, Miraca Holdings, Foundation Medicine, Myriad Genetics, and Sonic Healthcare are some of the prominent players operating in the global Esoteric Testing market. Several M&A’s along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst type, infectious diseases testing segment holds the major share”

Based on the type, the market is fragmented into infectious diseases testing, endocrinology testing, oncology testing, genetic testing, toxicology testing, immunology testing, neurology testing, and others. The infectious diseases testing segment dominated the market with a share of XX% in 2020 and is expected to maintain its dominance during the forecast period owing to the increasing incidence of infectious diseases, technological innovations in molecular diagnostics.

“Amongst technology, chemiluminescence immunoassay is anticipated to grow at the highest CAGR during the analyzed period”

Further based on technology, the market is fragmented into chemiluminescence immunoassay, enzyme-linked immunosorbent assay, mass spectrometry, real-time PCR, flow cytometry, radioimmunoassay, and others. In 2020, chemiluminescence immunoassay accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period owing to to its advantages over other testing methods, such as high-performance levels, low detection limits; etc.

“Amongst end-user, chemiluminescence immunoassay is anticipated to grow at the highest CAGR during the analyzed period”

Based on end-user, the market is fragmented into independent & reference laboratories, research laboratories, and hospital-based laboratories. In 2020, independent & reference laboratories accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period owing to to presence improved diagnostic equipment and devices.

“North America signifies one of the largest markets of Esoteric Testing Market”

For a better understanding of the market dynamics of the Esoteric Testing market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX billion in 2020 advanced technology for diagnosis and treatment of chronic disorders, availability of private and government funding, which is fueling market expansion. 

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

The Esoteric Testing Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Companies Covered

  • LabCorp
  • Quest Diagnostics
  • Invitae Corporation
  • Mayo Medical Laboratories
  • Spectra Laboratories
  • Opko Health
  • Miraca Holdings
  • Foundation Medicine
  • Myriad Genetics
  • Sonic Healthcare

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Table of Content

1 MARKET INTRODUCTION
1.1 Market Definitions
1.2 Objective of the Study
1.3 Limitation
1.4 Stake Holders
1.5 Currency Used in Report
1.6 Scope of the Global Esoteric Testing Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Research Methodology for the Global Esoteric Testing Market
2.1.1 Main Objective of the Global Esoteric Testing Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 TOP START-UPs UNDER ESOTERIC TESTING INDUSTRY

6 COVID-19 IMPACT

7 GLOBAL ESOTERIC TESTING MARKET REVENUE

8 MARKET INSIGHTS BY TYPES

8.1 Infectious Diseases Testing
8.2 Endocrinology Testing
8.3 Oncology Testing
8.4 Genetic Testing
8.5 Toxicology Testing
8.6 Immunology Testing
8.7 Neurology Testing

9 MARKET INSIGHTS BY TECHNOLOGY
9.1 Chemiluminescence Immunoassay
9.2 Enzyme-Linked Immunosorbent Assay
9.3 Mass Spectrometry
9.4 Real-Time PCR
9.5 Flow Cytometry
9.6 Radioimmunoassay
9.7 Others

10 MARKET INSIGHTS BY END-USER
10.1 Independent & Reference Laboratories
10.2 Research Laboratories
10.3 Hospital based laboratories

11 MARKET INSIGHTS BY REGION
11.1 NORTH AMERICA ESOTERIC TESTING MARKET
11.1.1 United States
11.1.2 Canada
11.1.3 Rest of North America
11.2 EUROPE ESOTERIC TESTING MARKET
11.2.1 Germany
11.2.2 France
11.2.3 United Kingdom
11.2.4 Spain
11.2.5 Italy
11.2.6 Rest of Europe
11.3 ASIA PACIFIC ESOTERIC TESTING MARKET
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 Australia
11.3.6 Rest of Asia Pacific
11.4 REST OF THE WORLD ESOTERIC TESTING MARKET

12 ESOTERIC TESTING MARKET DYNAMICS
12.1 Market Drivers
12.2 Market Challenges
12.3 Impact Analysis

13 LEGAL & REGULATORY FRAMEWORK

14 DEMAND AND SUPPLY SIDE ANALYSIS

14.1 Demand Side Analysis
14.2 Supply Side Analysis
14.2.1 Top Product Launches
14.2.2 Top Business Partnerships
14.2.3 Top Merger & Acquisitions

15 VALUE CHAIN ANALYSIS

16 ESOTERIC TESTING MARKET OPPORTUNITIES

17 ESOTERIC TESTING MARKET TRENDS & INSIGHTS


18 COMPETITIVE SCENARIO
18.1 Porter’s Five forces analysis
18.1.1 Bargaining power of Supplier
18.1.2 Bargaining power of Buyer
18.1.3 Industry Rivalry
18.1.4 Availability of Substitute
18.1.5 Threat of new Entrants

19 COMPANY PROFILED
19.1 Myriad Genetics
19.1.1 Key Facts
19.1.2 Business Description
19.1.3 Key Product/Services Offerings
19.1.4 Growth Strategy
19.1.5 SWOT Analysis
19.1.6 Key Financials
19.1.6.1 Revenue Split
19.1.6.2 Financial Overview of Medtronics plc
19.1.7 Recent Developments
19.1.7.1 Product Launch
19.1.7.2 Partnerships
19.1.7.3 Business Expansion and Investments
19.1.7.4 Merger and Acquisition
19.2 LabCorp
19.3 Quest Diagnostics
19.4 Invitae Corporation
19.5 Mayo Medical Laboratories
19.6 Spectra Laboratories
19.7 Opko Health
19.8 Miraca Holdings
19.9 Foundation Medicine
19.10 Sonic Healthcare

20 DISCLAIMER

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