US Esoteric Testing Market Size study, by Type, By Technology, By End Use Forecasts 2022-2032

Description

List of Tables

US Esoteric Testing Market is valued approximately USD 6.87 Billion in 2023 and is anticipated to grow with a healthy growth rate of more than 11.67% over the forecast period 2024-2032. Esoteric tests are specialist laboratory methods that are usually available in standard clinical laboratories because of their complexity, the rarity of the conditions they diagnose, or the specialist knowledge needed to interpret the results. These tests, which are carried out in specialist facilities, include genetic testing for unusual diseases, diagnostics for rare infections, and sophisticated biomarker assays. Esoteric diagnostics, in contrast to standard blood or urine testing, are typically contracted out to reference labs that possess the requisite equipment and expertise. These diagnostics, which make use of cutting-edge technologies like real-time polymerase chain reaction and next-generation sequencing, are crucial in some therapeutic situations and scientific studies. The rise in technological advancements is a key trend for the US Esoteric Testing Market. Continuous innovations in molecular diagnostics, next-generation sequencing, and advanced imaging techniques are expanding the capabilities and accuracy of esoteric testing, leading to increased adoption.

US is poised to lead the esoteric testing market due to rising research and development initiatives, increased investments, growing burdens of chronic diseases, and a growing prevalence of rare diseases. According to data from NORD, approximately 25-30 million individuals were affected by a rare disease in 2021, with nearly one in ten Americans having a rare disease, and over half of these cases involving children. Additionally, data from the NIH RCDC reveals that funding for rare disease research in the United States was estimated at USD 6,191 million in 2021, projected to reach USD 6,482 million by the end of 2022. This substantial investment, coupled with the rising prevalence of rare diseases, is anticipated to drive increased demand for esoteric testing, consequently fostering market expansion in this area. Also, robust healthcare infrastructure, substantial buying potential, and a surge in esoteric testing adoption rates are further attributing to the demand of the esoteric testing across the globe. Furthermore, the market's growth is further fueled by the introduction of new testing services and strategic collaborations among major players in the region. For instance, in January 2021, BioReference Laboratories, Inc., a subsidiary of OPKO Health, unveiled Scarlet Health, an integrated digital platform offering on-demand diagnostic services from the comfort of one's home. Scarlet's design mirrors familiar consumer tools, ensuring user-friendly accessibility and convenience. Similarly, in February 2021, GRAIL, Inc. partnered with Quest Diagnostics to provide phlebotomy services supporting Galleri, GRAIL's multi-cancer early detection blood test. However, stringent regulatory framework, coupled with the lack of skilled healthcare professional in developing countries is expected to stifle US Esoteric Testing Market growth between 2024 and 2032.

Major market player included in this report are:

Laboratory Corporation of America Holdings
Opko Health, Inc.
Quest Diagnostics Incorporated
Company 4
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10

The detailed segments and sub-segment of the market are explained below:

By Type

Oncology testing
Infectious disease testing
Genetic testing
Endocrinology testing
Toxicology testing
Neurology testing
Others

By Technology

Chemiluminescence immunoassay
Enzyme-linked immunosorbent assay
Mass spectrometry
Real time polymerase chain reaction
Flow cytometry
Other

By End Use

Hospital-based laboratories
Independent and reference laboratories
Others

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and Country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market

Chapter 1. US Esoteric Testing Market Definition and Research Assumptions

1.1. Research Objective
1.2. Market Definition
1.3. Research Assumptions
- 1.3.1. Inclusion & Exclusion
- 1.3.2. Limitations
- 1.3.3. Supply Side Analysis
  - 1.3.3.1. Availability
  - 1.3.3.2. Infrastructure
  - 1.3.3.3. Regulatory Environment
  - 1.3.3.4. Market Competition
  - 1.3.3.5. Economic Viability (Consumer's Perspective)
- 1.3.4. Demand Side Analysis
  - 1.3.4.1. Regulatory frameworks
  - 1.3.4.2. Technological Advancements
  - 1.3.4.3. Environmental Considerations
  - 1.3.4.4. Consumer Awareness & Acceptance
1.4. Estimation Methodology
1.5. Years Considered for the Study
1.6. Currency Conversion Rates

Chapter 2. Executive Summary

2.1. US Esoteric Testing Market Size & Forecast (2022- 2032)
2.2. Segmental Summary
- 2.2.1. By Type
- 2.2.2. By Technology
- 2.2.3. By End Use
2.3. Key Trends
2.4. Recession Impact
2.5. Analyst Recommendation & Conclusion

Chapter 3. US Esoteric Testing Market Dynamics

3.1. Market Drivers
3.2. Market Challenges
3.3. Market Opportunities

Chapter 4. US Esoteric Testing Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 1. US Esoteric Testing Market Size & Forecasts by Type 2022-2032

1.1. Oncology testing
1.2. Infectious disease testing
1.3. Genetic testing
1.4. Endocrinology testing
1.5. Toxicology testing
1.6. Neurology testing
1.7. Others

Chapter 2. US Esoteric Testing Market Size & Forecasts by Technology 2022-2032

2.1. Chemiluminescence immunoassay
2.2. Enzyme-linked immunosorbent assay
2.3. Mass spectrometry
2.4. Real time polymerase chain reaction
2.5. Flow cytometry
2.6. Other

Chapter 3. US Esoteric Testing Market Size & Forecasts by End Use 2022-2032

3.1. Hospital-based laboratories
3.2. Independent and reference laboratories
3.3. Others

Chapter 4. Competitive Intelligence

4.1. Key Company SWOT Analysis
4.2. Top Market Strategies
4.3. Company Profiles
- 4.3.1. Laboratory Corporation of America Holdings
  - 4.3.1.1. Key Information
  - 4.3.1.2. Overview
  - 4.3.1.3. Financial (Subject to Data Availability)
  - 4.3.1.4. Product Summary
  - 4.3.1.5. Market Strategies
- 4.3.2. Opko Health, Inc.
- 4.3.3. Quest Diagnostics Incorporated

Chapter 5. Research Process

5.1. Research Process
- 5.1.1. Data Mining
- 5.1.2. Analysis
- 5.1.3. Market Estimation
- 5.1.4. Validation
- 5.1.5. Publishing
5.2. Research Attributes

LIST OF TABLES

TABLE 1. US Esoteric Testing Market, report scope
TABLE 2. US Esoteric Testing Market estimates & forecasts by Type 2022-2032 (USD Billion)
TABLE 3. US Esoteric Testing Market estimates & forecasts by Technology 2022-2032 (USD Billion)
TABLE 4. US Esoteric Testing Market estimates & forecasts by End Use 2022-2032 (USD Billion)
TABLE 5. US Esoteric Testing Market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 6. US Esoteric Testing Market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 7. US Esoteric Testing Market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 8. US Esoteric Testing Market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 9. US Esoteric Testing Market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 10. U.S. Esoteric Testing Market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 11. U.S. Esoteric Testing Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 12. U.S. Esoteric Testing Market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 13. List of secondary sources, used in the study of US Esoteric Testing Market.
TABLE 14. List of primary sources, used in the study of US Esoteric Testing Market.
TABLE 15. Years considered for the study.
TABLE 16. Exchange rates considered

LIST OF FIGURES

FIG 1. US Esoteric Testing Market, research methodology
FIG 2. US Esoteric Testing Market, market estimation techniques
FIG 3. US market size estimates & forecast methods.
FIG 4. US Esoteric Testing Market, key trends 2023
FIG 5. US Esoteric Testing Market, growth prospects 2022-2032
FIG 6. US Esoteric Testing Market, porters 5 force model
FIG 7. US Esoteric Testing Market, pestel analysis
FIG 8. US Esoteric Testing Market, value chain analysis
FIG 9. US Esoteric Testing Market by segment, 2022 & 2032 (USD Billion)
FIG 10. US Esoteric Testing Market by segment, 2022 & 2032 (USD Billion)
FIG 11. US Esoteric Testing Market by segment, 2022 & 2032 (USD Billion)
FIG 12. US Esoteric Testing Market by segment, 2022 & 2032 (USD Billion)
FIG 13. US Esoteric Testing Market by segment, 2022 & 2032 (USD Billion)
FIG 14. US Esoteric Testing Market, company market share analysis (2023)