Esoteric testing is the analysis of unique or rare molecules whose assays are not performed in the routine clinical lab. Esoteric testing requires sophisticated equipment and materials as well as experienced personnel to perform the test. The equipment and devices are generally outsourced to special clinical labs as it is very cost effective for hospitals. The tests are ordered very less frequently and the price of these test are highly expensive. Esoteric testing generally includes genetics, immunology, microbiology, toxicology, oncology, and molecular diagnostics test. The main challenge in estoric testing is that they require highly experienced and qualified medical technologist apart from that expensive materials. In August 2015, NYU Langone Health and Sonic Healthcare USA came into a joint venture to form a laboratory. This agreement enhanced the outpatient laboratory services to over 2,000 physicians affiliated with the NYU hospital system. In June 2017, Quest Diagnostics announced the complete acquisition of Medfusion and ClearPoint and form National Precision Oncology Center. This acquisition provide better facilities for cancer patients precise diagnostics like genomic sequencing of cancerous DNA which in turn help physician select therapy, clinical trial and monitor response. The main reason of this acquisition was to develop a regional and a national reference and esoteric testing business serving hospitals, in Dallas.
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Market Analysis:
Global Esoteric Testing Market is expected to reach USD 42.68 Billion by 2025, from USD 18.25 Billion in 2017 growing at a CAGR of 11.2% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2017, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Major Market Competitors/players:
- Quest Diagnostics
- Opko Health
- Miraca Holdings
- Myriad Genetics
- Sonic Healthcare
- Primary Health Care
- Healthscope
- Foundation Medicine
- ACM Global Laboratories
- Arup Laboratories
- Fulgent Genetics
- Invitae
- Mayo Medical Laboratories
- Spectra Laboratories
- Among Others.
Report Drivers and Restraints:
- Increase in prevalence of chronic disease.
- Increase in geriatric population.
- Number of patients suffering from infectious disease increased.
- Increased awareness of personalized medicine
- Development of specific markers used in genomic and proteomics
- Advancement in technology of esoteric testing
- Reimbursement Scenario
- Less patient’s awareness.
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Report Segmentation:
The esoteric testing market is segmented into type, technology, laboratory type and geography.
Based on type the market is segmented into:
- Infectious Diseases Testing
- Endocrinology Testing
- Oncology Testing
- Genetic Testing
- Toxicology Testing Immunology Testing
- Neurology Testing
- Others.
Based on technology the market is segmented into:
- Chemiluminescence Immunoassay
- Enzyme-Linked Immunosorbent Assay
- Radioimmunoassay
- Flow Cytometry Real-Time PCR
- Mass Spectrometry
- Others Technologies
Based on the laboratory type the market is segmented into:
- Independent & Reference Laboratories
- Hospital Laboratories.
Based on geography the global esoteric testing market report covers data points for 28 countries across multiple geographies namely:
- North America
- South America
- Europe
- Asia-Pacific
- Middle East & Africa
Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others
Competitive Analysis:
The global esoteric testing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions and others to increase their footprints in this market. The report includes market shares of esoteric testing market for global, Europe, North America, Asia Pacific and South America.
This report consists of below pages:
- No of pages: 350
- No of Figures: 60
- No of Tables: 220
Frequently Asked Questions:
- What will the market size be in 2025?
- What are the key factors driving the global market?
- What are the challenges to market growth?
- Who are the key players in the market?
- What are the market opportunities and threats faced by the key players?
- What will be the growth rate in 2025?
- Which strategies are used by top players in the global esoteric testing market?
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