The global esoteric testing market size reached USD 20.85 Billion in 2021 and is expected to register a revenue CAGR of 11.7% during the forecast period, according to latest analysis by Emergen Research. One of the main factors driving revenue growth of the market is rising prevalence of infectious and chronic diseases. Rising prevalence of chronic disorders presents a significant opportunity for innovative research into unique molecules that can be altered to create brand-new medications. One of the major factors driving revenue growth of the market is rising number of successful research and development outcomes in the area of cellular immunology that are used to treat conditions such as cardiovascular disease, adenocarcinomas, neurological illnesses, and others.
The latest report, Esoteric Testing market enables stakeholders to gain insights into their potential consumers to construct more effective marketing strategies for the forecast period, 2022 to 2030. Most importantly, the document empowers business owners to seek information about potential consumers and where they can find them. With an exclusive coverage of the top vendors, the study enables business owners to know more about the local market and locate potential consumers.
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Some Key Highlights From the Report
- The infectious diseases testing segment accounted for largest revenue share in 2021. Increasing prevalence of infectious diseases including cholera, dengue, and other illnesses is driving revenue growth of the segment. An array of detection tests can better penetrate the market owing to increasing prevalence of infectious diseases.
- The Enzyme Linked Immunosorbent Assay (ELISA) segment accounted for a significant revenue share in 2021. One of the main factors driving revenue growth of the segment is increasing use of ELISA to detect different disease antigens across the globe.
- The market in North America accounted for largest revenue share in 2021. One of the major factors driving revenue growth in North America is rising initiatives taken by different organizations in the region to perform research on orphan medications to treat rare diseases. Revenue growth of the market in North America is mostly being driven by increasing acceptance of immunology-based products in the region. The market penetration of the approved pharmaceuticals is expected to significantly grow as a result of increase in product approvals. In addition, it is expected that rising number of Research and Development (R&D) efforts carried out by regional market players would result in the introduction of fresh, S. Food and Drug Administration (FDA)-approved products.
Competitive Terrain:
The global Esoteric Testing industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Laboratory Corporation of America, OPKO Health, Inc., H.U. Group Holdings, Inc., Nordic Lifesciences, Genomic Health, Inc.; American Medical Lab, Invitae Corporation, SYNLAB International GmbH, UNILABS, and Fulgent Genetics
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global Esoteric Testing market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Esoteric Testing market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Esoteric Testing market.
Market Segmentations of the Esoteric Testing Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Esoteric Testing market on the basis of product, application, and region:
Segments Covered in this report are:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Infectious Diseases Testing
- Oncology testing
- Immunology Testing
- Others
Techniques Outlook (Revenue, USD Billion; 2019-2030)
- ELISA
- Flow Cytometry
- RT - PCR
- Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
