Esoteric Testing Market Growth Trajectory – Insights On Key Drivers, Major Trends, And Top Opportunities
28 Nov, 2023
The global esoteric testing market is expected to grow from $26.10 billion in 2022 to $29.24 billion in 2023 at a compound annual growth rate (CAGR) of 12%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The esoteric testing market is expected to reach $45.6 billion in 2027 at a CAGR of 11.8%.
Global Esoteric Testing Market Key Driver
The increasing prevalence of infectious diseases is expected to drive the growth of the esoteric testing market in the coming years. Infectious diseases, caused by pathogens like bacteria and viruses, are influenced by factors such as migration, travel, and environmental changes. Esoteric testing, utilizing advanced technology like nucleic acid technology, can detect the genetic material of infectious agents, providing more accurate and sensitive results compared to traditional methods like microbiological culture.
Get a sample of the global esoteric testing market reportGlobal Esoteric Testing Market Segments
The global esoteric testing market is segmented:
1) By Type: Infectious Diseases Testing; Endocrinology Testing; Oncology Testing; Genetics Testing; Toxicology Testing; Immunology Testing; Neurology Testing; Other Testing
2) By Technology: Chemiluminescence Immunoassay; Enzyme-Linked Immunosorbent Assay; Mass Spectrometry; Real-Time PCR; DNA (Deoxyribonucleic Acid) Sequencing; Flow Cytometry; Other Technologies
3) By End User: Independent And Reference Laboratories; Hospital-Based Laboratories
4) By Geography: The regions covered in the esoteric testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global esoteric testing market.
Major Esoteric Testing Industry Players
Esoteric Testing Market Overview
Esoteric testing refers to the laboratory analysis of rare molecules and substances not typically studied in a routine clinical laboratory. This testing is used to diagnose and manage rare, complex, or unusual medical conditions that cannot be easily diagnosed through standard laboratory tests.
Esoteric Testing Global Market Report 2023 provides data on the global esoteric testing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The esoteric testing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.