Esoteric Testing Market (By Type: Infectious Diseases Testing, Endocrinology Testing, Oncology Testing, Genetics Testing, Toxicology Testing, Immunology Testing, Neurology Testing, Other Testing; By Technology: Chemiluminescence Immunoassay, Enzyme-Linked Immunosorbent Assay, Mass Spectrometry, Real-Time PCR, DNA Sequencing, Flow Cytometry, Other Technologies; By End User)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global Esoteric Testing market size was estimated at USD 25.94 billion in 2021 and is expected to surpass around USD 67.39 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 11.19% during the forecast period 2022 to 2030.

Key Takeaways:

  • North America region was highest revenue holder in 2021.
  • Infectious disease testing segment contributed highest share 31% in 2021.
  • Based on technology, the chemiluminescence immunoassay (CLIA) segment accounted highest share in 2021.
  • By teste type, endocrinology segment held revenue share of 19% in 2021.
  • By technology, ELISA segment was vaealthcarlued at USD 5.8 billion in 2021.
  • North America esoteric testing market is expected to grow at a CAGR of 6.3% from 2022 to 2030.

Esoteric testing is a laboratory analysis of rare molecule and substance, which is not performed in a routine clinical laboratory. These tests are performed when a physician requires some addition and detailed information about the patient's health condition. It requires a sophisticated instrument & materials and skilled technician to analyze the result.

Growth of the global esoteric testing market is majorly driven by an increase in prevalence of chronic, infectious, and rare genetic disease; rise in demand for enzyme linked immunosorbent assay (ELISA) and real time polymerase chain reaction (RT-PCR); increase in funding from private & government organizations for the diagnostic service center; and advancement in technology for esoteric testing. According to the World Health Organization (WHO), in 2021, it was reported that 77% of the deaths from chronic diseases occur in low and middle income countries. For instance, in May 2021, Cipla Limited, an Indian multinational pharmaceutical company, launched ViraGen, an RT-PCR test kit for detection of COVID-19. It is a real-time detection kit, which is designed to detect and identify ORF Lab gene and SARS CoV-2 N gene having sensitivity of 98.6% and specificity of 98.8% as compared to the standard Indian Council of Medical Research (ICMR) test. In addition, rise in geriatric population who are more vulnerable to chronic diseases fuels the market growth during the forecast period. According to Beijing, in 2019, it was reported that over 180 million geriatric population in China was living with chronic diseases. In addition, in May 2021, Neuberg Diagnostic, a leading company that offers best-in-class laboratories, launched the clinical laboratory's operation in the U.S. to offer genomic and molecular testing on new generation sequencing technology.

Thus, technological advancement in esoteric testing and increase in number of diagnostic tests propel the growth of the esoteric testing market. However, the high cost associated with esoteric testing and lack of skilled technicians are expected to restrict the market growth during the forecast period.

Report Scope of the Esoteric Testing Market

Report Coverage

Details

Market Size in 2022

USD 28.84 Billion

Market Size by 2030

USD 67.39 Billion

Growth Rate from 2022 to 2030

CAGR of 11.19%

Base Year

2021

Forecast Period

2022 to 2030

Segments Covered

Type, Technology, End User, Geography

Companies Mentioned

ACM Global Laboratories (US), ARUP Laboratories (US)., Baylor Esoteric and Molecular Laboratory (US), BioAgilytix Labs (US), BP Diagnostic Centre SDN BHD (Malaysia), BUHLMANN Diagnostics Corp (BDC, US), Cerba Xpert (Belgium), Eurofins Scientific (Luxembourg), Flow Health (US), Foundation Medicine (US), Georgia Esoteric & Molecular Laboratory, LLC (US), H.U. Group Holdings, Inc. (Japan), Helius Limited (Australia), HealthQuest Esoterics (US), Kind star Global (Beijing) Technology, Inc. (China), Labcorp (US), Leo Labs, Inc. (India)., Mayo Foundation for Medical Education and Research (US), National Medical Services Inc. (NMS) (US), OPKO Health (US)., Quest Diagnostics (US), Sonic Healthcare Limited (US), Stanford Clinical Pathology (US), Thyrocare Technologies Ltd. (India)

 

Global Esoteric Testing Market Dynamics

DRIVER: 

The chronic diseases such as diabetes, cardiovascular diseases and cancer are on rise across the globe. The prevalence of infectious disease such as Dengue, Hepatitis B, C, HIV, Malaria, Tuberculosis, and others, are also increasing at an alarming rate. The awareness of the esoteric tests is increasing for the early and effective diagnosis of such diseases. The advancing technology of esoteric test are offering expedited results with higher efficacy, detection limits, and sensitivity. The increasing use of esoteric DNA sequencing, NGS technologies and whole genome sequencing in the early diagnosis of cancer, precision and personal medicine are also pushing the growth of the market.

RESTRAINT: 

Inadequate reimbursement is a major factor restraining the growth of the esoteric testing market. The coverage of precision medicine and personalized medicine by Medicare are highly confined. In the past few years, there has been a decline in the reimbursement of diagnostic tests, which has negatively impacted the volume of tests. This resulted due to the increased controls over the utilization of laboratory services by Medicare, Medicaid, and other third-party payers, particularly managed care organizations (MCOs).

OPPORTUNITY: 

Emerging technologies such as biomarker analysis, digital PCR, NGS, pyrosequencing, or Sanger sequencing, digital microfluidic platforms and advanced molecular phenotyping technologies are expected to thrust the growth of the market. The emerging economies such as India, China, and India are expected to offer potential growth opportunities for major players operating in the esoteric testing market. This can be attributed to the growing geriatric population, high prevalence of chronic and infectious diseases, improving healthcare infrastructure, and increasing disposable income in these countries.

CHALLENGES: 

The dearth of a skilled workforce has been a challenge for several decades, resulting in an aging workforce and declining enrolment in training programs. It takes almost five to ten years of continuous practice in clinical laboratory work for technicians to gain expertise. Esoteric tests are more advanced clinical laboratory tests than routine molecular tests.

Type Insights

The business of esoteric testing was dominated by the industry that tested for infectious diseases. The entirety of the section's growth can be attributed to the rising incidence of chronic diseases, technological changes in clinical techniques, and improving health facilities in emerging nations. The genetic screening market stays estimated to expand at a rapid speed during the projection. The rapid expansion in the genotyping market can be attributed to developments in sequencing data like NGS as well as heightened understanding.

Because of an escalation in the frequency of infectious diseases, the expansion of healthcare laboratories, and improvements in molecular diagnostic technologies, the communicable diseases testing segment accounted for the largest in 2020 and is anticipated to maintain this tendency in during the projected period.

Technology Insights

This market for specialized screening was dominated by CLIA. Due to the rising prevalence of the immune disorder, diabetes, heart problems, and melanoma, as well as the progression of Research and innovation for product development and manufacturing events, the chemiluminescence enzyme-linked- linked immunosorbent assay segment held the largest share esoteric diagnostics industry in the next year and is anticipated to maintain this general pattern even during the forecast timeframe. Its benefits over some other testing techniques, which would include peak performance, sensitivity, and selectivity, needs in terms, of signal power strength, and two attributes, could be attributed to this company's sizeable share of the market.

The pervasiveness of communicable diseases like liver damage, AIDS, neurodegenerative problems, hemorrhagic fever, and melanoma is projected to rise even during the projected timeframe, along with the aging populations and the growing preference for affordable diagnostic testing services. Moreover, this same Generation sequencing region is predicted to experience significant growth throughout the estimated timeframe.

End User Insights

Individual and reference institutions make up a significant amount of the specialized market studied. The majority is caused by the increased testing volumes. Additionally, growth is being fuelled by the continuous automation technology of laboratory testing, the rise in the national accreditation board, the extent of payment covering, and the aggressive incentives provided by these suppliers. The sector is expanding as just a result of continuous diagnostic laboratory automation technology, an increase in independent labs, extensive insurance coverage, and aggressive incentives provided by all these suppliers.

Due to increasing examination throughput, development in some programs, and a spike in the digitization of laboratory testing, the autonomous and comparison research facilities sector, which made it popular throughout 2020, stays estimated to uphold the situation tendency even during the projected timeline.

Furthermore, owing to the increase in long-term term illness frequency, advancements in clinical laboratories, and growing demand for preventative medicine, this healthcare research labs sector is estimated to have significant growth over the coming years.

Regional Insights

North America accounted for a major share in the esoteric testing market in 2021, and is expected to maintain its dominance during the forecast period, owing to rise in prevalence of chronic disease and increase in number of diagnostic tests and technological advancement for esoteric testing. However, Asia-Pacific is expected to register the highest CAGR of 14.1% from 2022 to 2030, owing to increase in prevalence of chronic disease, rise in government initiative for diagnostic service, surge in demand for ELISA and RT-PCR test, and increase in awareness among population for self-diagnostic testing.

Some of the prominent players in the Esoteric Testing Market include:

  • ACM Global Laboratories (US)
  • ARUP Laboratories (US). 
  • Baylor Esoteric and Molecular Laboratory (US)
  • BioAgilytix Labs (US)
  • BP Diagnostic Centre SDN BHD (Malaysia)
  • BUHLMANN Diagnostics Corp (BDC, US)
  • Cerba Xpert (Belgium) 
  • Eurofins Scientific (Luxembourg)
  • Flow Health (US)
  • Foundation Medicine (US)
  • Georgia Esoteric & Molecular Laboratory, LLC (US)
  • H.U. Group Holdings, Inc. (Japan)
  • Helius Limited (Australia)
  • HealthQuest Esoterics (US)
  • Kind star Global (Beijing) Technology, Inc. (China)
  • Labcorp (US)
  • Leo Labs, Inc. (India).
  • Mayo Foundation for Medical Education and Research (US)
  • National Medical Services Inc. (NMS) (US)
  • OPKO Health (US). 
  • Quest Diagnostics (US
  • Sonic Healthcare Limited (US)
  • Stanford Clinical Pathology (US)
  • Thyrocare Technologies Ltd. (India)

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Esoteric Testing market

By Type

  • Infectious Diseases Testing
  • Endocrinology Testing
  • Oncology Testing
  • Genetics Testing
  • Toxicology Testing
  • Immunology Testing
  • Neurology Testing
  • Other Testing

By Technology

  • Chemiluminescence Immunoassay
  • Enzyme-Linked Immunosorbent Assay
  • Mass Spectrometry
  • Real-Time PCR
  • DNA Sequencing
  • Flow Cytometry
  • Other Technologies

By End User

  • Hospital-based Laboratories
    • Enzyme-linked Immunosorbent Assay
    • Chemiluminescence Immunoassay
    • Mass Spectrometry
    • Real Time Polymerase Chain Reaction
    • DNA Sequencing
    • Flow Cytometry
    • Other Technologies
  • Independent and Reference Laboratories
    • Enzyme-linked Immunosorbent Assay
    • Chemiluminescence Immunoassay
    • Mass Spectrometry
    • Real Time Polymerase Chain Reaction
    • DNA Sequencing
    • Flow Cytometry
    • Other Technologies

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Key Benefits for Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Esoteric Testing industry analysis from 2022 to 2030 to identify the prevailing Esoteric Testing industry opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the global Esoteric Testing industry segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global Esoteric Testing industry trends, key players, market segments, application areas, and market growth strategies.