Esoteric Testing Market Report: Trends, Forecast and Competitive Analysis to 2030

Esoteric Testing Trends and Forecast

The future of the global esoteric testing market looks promising with opportunities in the hospital-based laboratories and independent & reference laboratories markets. The global esoteric testing market is expected to reach an estimated $47.14 billion by 2030 with a CAGR of 9.8% from 2024 to 2030. The major drivers for this market are increase in awareness towards early disease diagnosis and personalized medicine, rising prevalence of chronic and infectious diseases, and surge in number of medical laboratories.

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Esoteric Testing by Segment

The study includes a forecast for the global esoteric testing by type, application, end use, and region.

Esoteric Testing Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Infectious Disease Testing
• Oncology Testing
• Endocrinology Testing
• Genetic Testing
• Toxicology Testing
• Immunology Testing
• Neurology Testing
• Others

Esoteric Testing Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Enzyme-Linked Immunosorbent Assay
• Chemiluminescence Immunoassay
• Mass Spectrometry
• Real Time Polymerase Chain Reaction
• Dna Sequencing
• Flow Cytometry
• Others

Esoteric Testing Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Hospital-Based Laboratories
• Independent & Reference Laboratories

Esoteric Testing Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Esoteric Testing Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies esoteric testing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the esoteric testing companies profiled in this report include-

• Quest Diagnostics
• Stanford Health Care
• Mayo Foundation
• Sonic Healthcare
• Athena Esoterix
• Opko Health
• Healius
• ARUP Laboratories
• Laboratory Corporation
• F. Hoffmann-La Roche

Esoteric Testing Market Insights

Lucintel forecasts that infectious disease testing is expected to witness the highest growth over the forecast period due to growing prevalence of infectious diseases and on-going development of advanced esoteric tests for the diagnosis of respiratory diseases, HIV, and others.

Within this market, independent & reference laboratories will remain the larger segment due to presence of advanced esoteric testing technologies in independent and reference laboratories.

North America will remain the largest region over the forecast period due to rising number of R&D activities, increasing burden of chronic diseases, and the growing number of rare disease cases in the region.

Features of the Global Esoteric Testing Market

Market Size Estimates: Esoteric testing market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Esoteric testing market size by type, application, end use, and region in terms of value ($B).

Regional Analysis: Esoteric testing market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, applications, end uses, and regions for the esoteric testing market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the esoteric testing market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the esoteric testing market size?

Answer: The global esoteric testing market is expected to reach an estimated $47.14 billion by 2030.

Q2. What is the growth forecast for esoteric testing market?

Answer: The global esoteric testing market is expected to grow with a CAGR of 9.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the esoteric testing market?

Answer: The major drivers for this market are increase in awareness towards early disease diagnosis and personalized medicine, rising prevalence of chronic and infectious diseases, and surge in number of medical laboratories.

Q4. What are the major segments for esoteric testing market?

Answer: The future of the esoteric testing market looks promising with opportunities in the hospital-based laboratories and independent & reference laboratories markets.

Q5. Who are the key esoteric testing market companies?

Answer: Some of the key esoteric testing companies are as follows:

• Quest Diagnostics
• Stanford Health Care
• Mayo Foundation
• Sonic Healthcare
• Athena Esoterix
• Opko Health
• Healius
• ARUP Laboratories
• Laboratory Corporation
• F. Hoffmann-La Roche

Q6. Which esoteric testing market segment will be the largest in future?

Answer: Lucintel forecasts that infectious disease testing is expected to witness the highest growth over the forecast period due to growing prevalence of infectious diseases and on-going development of advanced esoteric tests for the diagnosis of respiratory diseases, HIV, and others.

Q7. In esoteric testing market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to rising number of R&D activities, increasing burden of chronic diseases, and the growing number of rare disease cases in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the esoteric testing market by type (infectious disease testing, oncology testing, endocrinology testing, genetic testing, toxicology testing, immunology testing, neurology testing, and others), application (enzyme-linked immunosorbent assay, chemiluminescence immunoassay, mass spectrometry, real time polymerase chain reaction, dna sequencing, flow cytometry, and others), end use (hospital-based laboratories and independent & reference laboratories), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?