Esoteric Testing Market to grow by USD 18.87 billion from 2022-2027, North America to account for 36% of market growth - Technavio

NEW YORK, Oct. 23, 2023 /PRNewswire/ -- The esoteric testing market size is expected to grow by USD 18.87 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 11.51% during the forecast period, according to Technavio Research. The market is segmented by Type (Infectious disease, Endocrinology, Oncology, Immunology, and Others), End-user (Hospital laboratories, Clinical research laboratories and medical institutes, and Reference laboratories), and Geography (North America, Europe, Asia, and Rest of World (ROW)). North America will contribute 36% to the growth of the global market during the forecast period. The regional market growth can be attributed to factors such as the adoption of advanced technologies coupled with a well-established healthcare infrastructure. Furthermore, numerous hospitals and clinics in the area are adopting esoteric testing services to effectively diagnose and treat a rapidly growing number of patients. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a FREE PDF Sample Report

Company Profile:

ATS GENETECH PVT. LTD., Bio Rad Laboratories Inc., Creative Biogene, Cytek Biosciences Inc., EMSL Analytical Inc., Enzo Biochem Inc., Intertek Group Plc, IQVIA Holdings Inc., Kindstar Globalgene Technology Inc., Laboratory Corp. of America Holdings, Machaon Diagnostics Inc., MedGenome Labs Ltd., Merck KGaA, Microbac Laboratories Inc., Miltenyi Biotec B.V. and Co. KG, Oncquest Laboratories Ltd., Rochester Regional Health, Sonic Healthcare Ltd., The University of Utah, Yoda Diagnostics

The University of Utah: The company offers esoteric testing such as in-house esoteric testing panels, under the lab called ARUP Laboratories.

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Esoteric Testing Market: Segmentation Analysis

By Segment, the infectious disease segment will be significant during the forecast period. As a result of the changing lifestyles leading to reduced immunity, infectious disease epidemics increase and the pattern of infection rates has also changed with the development of drug-resistant pathogens. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Esoteric Testing Market: Driver & Trend:

Drivers

• Increasing prevalence of chronic diseases
• Increase in new product launches
• Increase in merger and acquisition activities

The increasing prevalence of chronic diseases boosts the esoteric testing market. This is because these tests are useful in the early detection of chronic diseases. One of the major factors for disability and death across the world is chronic diseases. Cardiovascular disease, chronic obstructive pulmonary disease (COPD), and type 2 diabetes are the 3 major chronic diseases. These conditions are often caused by high blood pressure (BP), blood cholesterol, and obesity. Hence, factors such as the increasing prevalence of chronic diseases will drive the growth of the global esoteric testing market during the forecast period.

Strategic alliances among market vendors are a key trend in the esoteric testing market. Identify key trends, drivers, and challenges in the market. Download a FREE sample report to gain access to this information.

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The rapid microbiology testing market size is estimated to grow at a CAGR of 9.31% between 2022 and 2027. The size of the market is forecast to increase by USD 2,487.91 million. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

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SOURCE Technavio