Esoteric Testing Market (By Test Type: Infectious Disease & Immunology, Endocrinology, Toxicology, Neurology, Oncology, Genomics; By Technology: Mass Spectrometry, Radioimmunoassay, Chemiluminescence, Flow Cytometry, Real Time-PCR, ELISA) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Published | Pages : 190

Introduction

According to Acumen Research and Consulting, the global esoteric testing market is expected to grow at noteworthy CAGR around 10 % throughout the forecast period and reach around US$ 40 billion by 2026.

Analysis of' rare' molecules or substances is an esotherical test. It is not conducted in a clinical routine laboratory. These tests are carried out when additional information is necessary for external routine laboratory tests, correct diagnosis of disease, a prognosis or selection, and therapeutic treatment supervision. Esoteric testing involves the use of sophisticated chemical and instrumental tests and tests by the competent personnel. Due to their high cost, the tests are conducted by clinically specialized and independant laboratories. These tests can't be carried out in-house by medical laboratories or hospitals. The test is regulated by a strict regulatory framework. These tests are not conducted on a regular basis.

The report provides analysis of global Esoteric Testing market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.

Market Dynamics

The increased incidence and responsiveness concerning premature disease diagnosis and treatment of rare and complex diseases will drive the market over the forecast period. Almost 27 to 36 million people are affected by rare diseases in the region of Europe, the European Commission says.

In developing countries, the rapid improvement of the healthcare sector and the growing amount of sophisticated laboratories offering advanced services will promote the growth of industry. The increasing number of baby boomers susceptible to various chronic conditions will be a strong factor in the development of the industry.

The increased prevalence of chronic infectious diseases like cancer, diabetes and so on should increase the demand in the years to come for esoteric testing. Moreover, technological advances including antidote automation, standardization of advanced devices and analysis systems will accelerate the growth of esoteric testing over time. A growing demand for proteomics and genomics and increased investment in developing innovative testing solutions for body detection will boost business growth. Predicting and evaluating therapy responses, pharmaceutical growth, and increased prevalence of chronic diseases have increased demand for personalized genomics solutions in health care. Strict regulations and the shortage of experts in emerging economies will, however, reduce growth of industry in the forecast timeframe.

Test Type Outlook

Endocrinology, infectious and immunological diseases, oncology, neurology, toxicology, genomics and many others form part of the esoteric test market. As a result of the high prevalence of infectious diseases and the increased demand for advanced molecular tests, the Infective Disease and Immunology segment accounted for around 28 per cent in 2018. In the foreseeable future, the availability of immunology laboratory services for each medical specialty will have a positive impact on the sector growth.

Over the predicted timeframe, increasing awareness about diagnosis of early disease and treatment in combination with the rising incident of cancer will drive the market for esoteric oncology. A BRCAvantage, which was developed by Quest Diagnostics in esoteric testing, will have an impact on the business of patients with hereditary breast and ovarian cancer syndrome (HBOC) who have a higher risk of cancer.

Technology Stance

Chemiluminescence esoteric technology market dominated the global industry in 2018. Owing to its high efficiency, combined with the need for a small sample, the company is projected to be more than 10.5 percent CAGR. This technology with a low analyte concentration will further stimulate business growth with superior sensitivity and accuracy. Due to its growing application to detect various analytes, ELISA's esoteric technology market accounted for a market share of 20 percent in 2018. In addition, ELISA is a common technique for basic research, drug discovery and high-performance laboratory screening. The sector will generate sales growth through new biomarker changes leading to new targets being available.

Regional Stance

Development of health infrastructure combined with increasing rare disease incidences will increase China to USD 3.1 billion by 2026. Almost ten million people in the country suffer from rare diseases, according to the World Health Organisation. In addition, the growth of the industry will support development like the artificial intelligence platform for the diagnosis of congenital cataracts.

In 2018, the US market had a regional share of about 35 percent. In addition to progress in medical research, the increasing prevalence of rare and complex diseases will stimulate the US market over the next few years. Government programs such as the Obama Precision Medicine Initiative, etc. are intended to have a positive impact on the growth of the industry.

The UK's esoteric test market is driven by cutting-edge genetic research in the field of cancer and rare diseases together with favorable initiatives such as the UK Rare Diseases strategy established in 2011. Leading National Health Service researchers are conducting groundbreaking rare disease research in order to provide optimal attention to patients with rare diseases, which will drive the esoteric market of the country.

Market Segmentation

Global Esoteric Testing Market, By Test Type

  • Infectious Disease & Immunology
  • Endocrinology
  • Toxicology
  • Neurology
  • Oncology
  • Genomics

Global Esoteric Testing Market, By Technology

  • Mass Spectrometry
  • Radioimmunoassay
  • Chemiluminescence
  • Flow Cytometry
  • Real Time-PCR
  • ELISA

Global Esoteric Testing Market, By Geography

  • North America.
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa (MEA)

The market research study on “Esoteric Testing Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Esoteric Testing market segments with market dynamics and their impact. The report also covers basic technology development policies.

The report provides an in-depth market assessment. This is done through thorough qualitative insights, historical information and verifiable market size projections. The projections in the report were derived from proven methodologies and assumptions for research. This research paper serves as an analytical and information repository for all aspects of the market, including but not limited to: regional markets, technology, types and applications.

Key Players & Strategies

Laboratory Corporation of America, BioMONTR and American Esoteric Laboratories (AEL), OPKO Health, Nordic Laboratories, Miraca Holdings, ACM, Fulgent Genetics, Genomic health, Invitae, Mayo Medical Labors, Arup Laboratories, and Myriad Genetics are few leading industry players. In order to strengthen their product offering, industry players are adopting different inorganic strategies such as acquisition, strategic partnership and collaboration, increasing their market position and business portfolio.

Esoteric testing is dominated by key players, such as Laboratory Corporation of America and Quest Diagnostics. Acquisition is one of these industry players ' main strategies. For example, in August 2017, in order to expand the oncology segment LabCorp purchased Chiltern International. More infectious diseases, increased chronic illness and increased awareness of early diagnosis have increased demand for esoteric testing. Similar strategy to broaden the product portfolio is also adopted by other players. Opko acquired the Bio-Reference Laboratory in August 2015 to advance clinical trial solutions of the company.

Under the United States, esoteric tests are regulated. FDA laboratory regulation and Clinical Laboratory Improvement Amendments (CLIA). Regulation on laboratory tests developed. Strict regulatory framework has led to an increase in the economic burden on the laboratories and delayed introduction of new tests on the market.


Related Reports

Skin Antiseptic Products Market (By Type: Swab Sticks, Solutions, Wipes; By Formulation: Iodine, Chlorhexidine, Octenidine, Alcohols, Others; By Application: Injections, Surgeries) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

According to Acumen Research and Consulting, the global skin antiseptic products Market size is expected to reach around US$ 310 million by 2026 and will grow at noteworthy 6.7 % CAGR from year 2019 to 2026. Human skin antiseptic medicines are used to defend themselves against germs or remove the microorganisms that already exist in their bodies. The infection control system is reg

Red Biotechnology Market (By Application: Biopharmaceutical Manufacture, Pharmacogenomics, Gene Therapy, Genetic Testing; By End User: Biopharmaceutical Business, Research Organizations, CMOs & CROs, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

According to Acumen Research and Consulting, the global red biotechnology market size is expected to reach around US$ 500 billion by 2026 and will grow at noteworthy CAGR around 5.6 % throughout the forecast period 2019 to 2026. Since the age of biotechnology, numerous tests and research into the implications of biotechnology to increase health have been carried out with the growth

Phototherapy Equipment Market (By Product: LED, Conventional, Fiberoptic; By Application: Neonatal Jaundice Management, Skin Disease Treatment; By End Use: Homecare, Hospitals & Clinics) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

According to Acumen Research and Consulting, the global phototherapy equipment market is forecasted to show noteworthy CAGR around 5.9 % throughout the forecast period and reach around US$ 800 million by 2026. The use of light in infant jaundice therapy is called photography. Bilirubin (the compound leading to jaundice) concentrations in children are the most prevalent means of min

Sleep Apnea Devices Market (By Type: Therapeutic Devices [Nasal Devices, Oral Devices, Chin Straps, PAP Devices], Diagnostic Devices [Polysomnography, Actigraphs, Pulse Oximeters, Respiratory Polygraphs]; By End-user: Sleep Laboratories & Hospitals, Home Care Settings/Individuals ) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

According to Acumen Research and Consulting, the global sleep apnea devices market size is poised to reach US$ 9.5 billion by 2026 and market forecasted to show remarkable CAGR around 7.2% from 2019 to 2026. Sleep apnea is a condition in which a individual stops breathing for a few seconds at night either because of the blocking of the airways or because no sign of the brain. A ind

Scar Treatment Market (By Scar Type: Atrophic & Acne Scars, Hypertrophic Scars and Keloids, Contracture Scars, Others (Stretch Marks); By Treatment Type: Topical Products [Silicone Sheets, Creams, Gels, Others], Laser products [Pulse-dyed, CO2, Others], Injectables, Others; By End-use: Hospitals, Clinics, Retail Pharmacies/E-commerce) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

According to Acumen Research and Consulting, the global scar treatment market is forecasted to show remarkable CAGR around 8.5% during the forecast time frame and reach around US$ 29.5 billion by 2026. Awareness of people's appearance is an essential factor in boosting the development of the scar market. The presence of scars affects individuals with acne problems on a daily basis.

Cart Summary