According to Market Research Future (MRFR), the global esoteric testing market growth a valuation of USD 1200 million in 2017 and is expected to register a CAGR of 8.6% from 2018 to 2023 (forecast period). Esoteric testing market share allows the analysis of unique molecules. This type of testing is not conducted in the clinical laboratory environment. Most commercial laboratories outsource complicated clinical trials for esoteric testing, as these require advanced equipment and experts.

This type of testing allows the doctor to gather additional data outside of routine laboratory tests, along with a thorough examination and prediction and tracking of the healing regimen. The growing prevalence of chronic diseases, rising technological developments, increasing awareness of personalized medicine, and increasing market penetration are expected to drive the global market for esoteric testing. In addition, factors such as increased government and private funding to support research activities are expected to fuel demand growth during the forecast period.

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Segmentation

The global market for esoteric testing has been segmented based on test type, technology, and end-user.

By Type of Test

Infectious Diseases Testing
Endocrinology Testing
Oncology Testing
Genetic Testing
Toxicology Testing
Immunology Testing
Neurology Testing
Others

By Technology

Chemiluminescence Immunoassay
Enzyme-linked Immunosorbent Assay
Mass Spectrometry
Real-Time PCR
Flow Cytometry
Radioimmunoassay
Others

By End-user

Independent and Reference Laboratories
Research Laboratories
Others

Key Players

Some of the leading participants in the global esoteric testing market are LabCorp, Quest Diagnostics, Invitae Corporation, Mayo Medical Laboratories, Spectra Laboratories, Opko Health, Miraca Holdings, Foundation Medicine, ACM Global Laboratories, Arup Laboratories, Myriad Genetics, Sonic Healthcare, Primary Health Care, Healthscope, Fulgent Genetics.

Regional Analysis

Regionally, the global esoteric testing market has been segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.

The American esoteric testing market is divided into two parts, namely North America and South America. North America, which is the largest region, is driven primarily by a growing number of health research initiatives, increased spending in healthcare by key market players, and a rising number of patients suffering from chronic diseases. In addition, existing market players in developed countries are leading globalization by introducing new products and services to developing and emerging countries. Canada is anticipated to witness the fastest-growing market propelled by the overall increasing demand for cost-effective diagnostic and treatment methods for chronic diseases.

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The European esoteric testing market is expected to show positive growth, with a growing focus on research and development activities to enhance diagnosis and treatment methods. In addition, Germany and the United Kingdom are the key contributors to the growth of the sector. Moreover, rising expenditure on healthcare by major countries in Europe also accelerates demand growth.

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