Rising incidence of infectious and uncommon diseases are expected to drive the global esoteric testing market

The Global Esoteric Testing Market is estimated to reach USD 41.0 Bn by 2027, growing at a CAGR of 11.7% over the forecast period.

Rising cases of infectious and uncommon diseases, as well as other ailments, are major driver for the esoteric testing market growth. For instance, according to the European Commission, between 27 and 36 million people in Europe suffer from uncommon diseases. Furthermore, rising prevalence of rare diseases is likely to boost demand for esoteric testing during the forecast period. For instance, according to the Centers for Disease Control and Prevention, the number of salmonella cases in 2018 was roughly 54,285. Increasing demand for Enzyme Linked Immunosorbent Assay (ELISA) and Real Time Polymerase Chain Reaction (RT-PCR); increasing fund from private and government organizations for diagnostic service centres; and advancement in technology for esoteric testing are the major driving factors influencing the global esoteric testing market. For instance, according to the World Health Organization (WHO), chronic illness mortality account for 77 percent of deaths in low-income and medium-income countries in 2021.

Moreover, the rise in the geriatric population, which is more susceptible to chronic diseases, also drive the market expansion throughout the forecast period. For instance, according to Beijing, China's senior population has over 180 million people dealing with chronic conditions in 2019. The increasing importance of early cancer diagnosis and treatment will have a positive impact on market growth in this sector. For instance, cancer is the second biggest cause of mortality worldwide, according to the World Health Organization around 1.8 million new cancer cases were recorded worldwide in 2018. Furthermore, the growing need for testing is likely to be fueled by increased R&D investments. For instance, according to the European Federation of Pharmaceutical Industries and Associations, the pharmaceutical industry's global sales in 2018 were estimated to be over USD 852,647 million. However, during the forecast period, the high cost of esoteric testing and a scarcity of experienced technicians are projected to limit the market expansion.

Global Esoteric Testing Market, by Region Outlook (Revenue, USD Billion, 2021-2027)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

In 2020, the North America dominated in the esoteric testing market due to an high R&D spendings and investments. For instance, according to the National Organization for Rare Diseases, over 30 million individuals are affected by rare diseases (2019). Furthermore, about one out of every 10 people in the United States suffers from a rare disease, with children accounting for more than half of those affected. According to the Pharmaceutical Research and Manufacturers of America, biopharmaceutical businesses spent roughly 79.6 billion dollars on R&D in the United States in 2018. As a result of the rising prevalence of rare diseases and increased investment in research and development, the demand for esoteric testing is estimated to grow in this region.

The increased prevalence of disease, development of medical infrastructure, rising awareness, and a large patient pool with unmet medical requirements responsible for the Asia Pacific as an emerging market for esoteric testing. However, in regions such as the Middle East and Africa and Latin America, exorbitant costs, a scarcity of skilled personnel, and a lack of patient knowledge are all problems frequently limiting the esoteric testing industry. The scarcity of experienced laboratory personnel is another factor for the growth of the global market.

The Global Esoteric Testing Market Segmentation:

Global Esoteric Testing Market, by Type Outlook (Revenue, USD Billion, 2021-2027)

  • Recombinant Growth Factors
  • Oncology
  • Immunology
  • Endocrinology
  • Genetic Testing
  • Toxicology

Global Esoteric Testing Market, by Technology Outlook (Revenue, USD Billion, 2021-2027)

  • Chemiluminescence Immunoassay (CLIA)
  • Enzyme-Linked Immunosorbent Assay (ELISA)
  • Mass Spectroscopy (MS)
  • Real Time Polymerase Chain Reactions (RT-PCR)
  • Others (Radioimmunoassay, Flow Cytometry)

Global Esoteric Testing Market, by Technology Outlook (Revenue, USD Billion, 2021-2027)

  • Hospitals-Based Labs
  • Independent & Reference Labs

Key Findings:

  • Based on the type, the infectious diseases segment is the dominated in the global esoteric testing market share in 2020
  • Based on technology, the chemiluminescence immunoassay (CLIA) segment is expected to dominate the esoteric testing market over the forecast period
  • Based on end-user, the independent & reference labs segment witness the highest market share in 2020 due to emergence of digitalization in the diagnostics laboratories, increasing number of tests volume, and rise in number of labs
  • Based on regions, the North America region is anticipated to hold a market’s maximum share in the year 2027 in the esoteric testing market.

Company Profiles and Competitive Intelligence

The key players operating in the esoteric testing market are:

  • Laboratory Corporation of America Holdings
  • OPKO Health (US).
  • H.U. Group Holdings, Inc.
  • Quest Diagnostics
  • Stanford Clinical Pathology
  • Kindstar Global (Beijing) Technology, Inc.
  • ACM Global Laboratories
  • Eurofins Scientific
  • BioAgilytix Labs LLC
  • Baylor Esoteric and Molecular Laboratory
  • BUHLMANN Diagnostics Corp (BDC)
  • National Medical Services Inc. (NMS)
  • Foundation Medicine
  • Sonic Healthcare
  • Healius Limited
  • Intas Esoteric Testing
  • ARUP Laboratories
  • Thyrocare Technologies Ltd.
  • Cerba Xpert
  • HealthQuest Esoterics
  • BP Diagnostic Centre SDN BHD
  • Flow Health
  • Georgia Esoteric & Molecular Laboratory, LLC
  • Leo Labs, Inc.

Recent News:

  • In May 2021, Cipla Limited, introduced ViraGen, a COVID-19 PCR test kit. When compared to the normal Indian Council of Medical Research (ICMR) test, it is a real time detection kits that identify SARS CoV-2 Ngene and ORF Lab gene with sensitivity of 98.6% and specificity of 98.8%. This launch increased the product portfolio of the Cipla Limited.
  • In May 2021, Neuberg Diagnostic, inaugurated a clinical laboratory in the U.S to provide molecular testing and genomic using next generation sequencing (NGS) technology.

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