Region:North America
Author(s):Sanjna Verma
Product Code:KROD230
Esoteric testing refers to specialized medical tests that are not routinely performed in clinical laboratories. These tests often require advanced technology, unique methodologies & expert interpretation due to their complexity. Innovations in laboratory technology have enabled the development of sophisticated tests that provide insights into rare diseases, genetic mutations & complex medical conditions. United States has been seeing a rise in its geriatric population. In 2021, the elderly population aged above 65 years, accounted for 16.8 per cent of the population. Older people show more proneness to chronic & complex diseases, which has led to a demand for more specialized testing to aid in accurate diagnosis & personalized treatment.
The field of genomics has driven demand for genetic & molecular testing, especially for conditions with a genetic basis. This includes cancer genomics, pharmacogenomics & prenatal genetic testing. Esoteric tests play a crucial role in tailoring medical treatments to individual patients, as they provide information about a patient’s unique biology & how they might respond to specific therapies. Esoteric testing is often used to diagnose rare diseases that might have deluded traditional diagnostic methods. These tests can help patients receive proper treatment & support.
The United States’ esoteric testing market is consolidated with the presence of several players. It encourages innovation, research & development. Companies like LabCorp, Quest Diagnostics, OPKO Health, Mayo Medical Laboratories, Invitae, Genomic Health, American Esoteric Laboratories (AEL) etc. hold a substantial market share in the Esoteric Testing Market.
By Type: Infectious disease testing has been the most dominant segment in 2022. United States has seen an increase in infectious diseases which will boosts the growth of esoteric testing in the United States. Moreover, there has been technological advancement, along with research & development which has accelerated the growth of this sector.
By Technology: Chemiluminescence Immunoassay has been the dominant segment in 2022, its growth is driven by rising prevalence of chronic diseases & new product launches. Chemiluminescence Immunoassay play a significant role in esoteric testing. They allow for detection of low levels of analytes in patient samples, which is valuable in areas like early disease detection.
By Geography: The northern region of United States has been the dominant region in the United States, in 2022. In areas like New York, Massachusetts & Illinois, which is known for its concentration of prestigious medical & research institutions, hospitals & universities, which resulted in increasing demand for esoteric testing.
The esoteric testing market in the United States is a subset of the broader medical diagnostics industry, focusing on specialized & complex tests that are not typically performed in laboratories. These tests often require advanced technology, specialized expertise & may be used for diagnosing rare diseases, genetic conditions, infectious diseases, cancer markers & more. Key players in the USA’s esoteric testing market include LabCorp, Quest Diagnostics, Mayo Clinic Laboratories, Guardant Health etc. The USA esoteric testing market is rapidly undergoing research & development.
USA Esoteric Testing Market is expected to show increasing and is expected to grow at a CAGR of ~6.7% from 2022 to 2028 with the need for early detection & diagnosis & rapid technological advancements which are leading to increased demand for esoteric testing.
US Esoteric Testing Market Segmentation |
|
By Type |
Infectious disease testing Endocrinology Oncology Genetic Toxicology |
By Technology |
Chemiluminescence Immunoassay Mass Spectrometry RTPCR Radioimmunoassay |
By Geography |
North South East West |
2.1 Taxonomy of the US Esoteric Testing Market
2.2 Industry Value Chain
2.3 Ecosystem
2.4 Government Regulations/Initiatives for the US Esoteric Testing Market
2.5 Growth Drivers of the US Esoteric Testing Market
2.6 Issues and Challenges of the US Esoteric Testing Market
2.7 Impact of COVID-19 on the US Esoteric Testing Market
2.8 SWOT Analysis
4. US Esoteric Testing Market Segmentation
4.1 By Product Type, 2017 - 2022
4.2 By Technology, 2017 - 2022
4.3 By Regional Split (North/East/West/South), 2017 - 2022
5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles
5.3.1 LabCorp
5.3.2 Mayo Clinic Laboratories
5.3.3 Laboratory Corporation of America Holding
5.3.4 Invitae
5.3.5 Myriad Genetics
5.3.6 Guardant Health
5.3.7 Quest Diagnostics
7.1 By Product Type, 2022 - 2028
7.2 By Technology, 2022 - 2028
7.3 By Regional Split (North/East/West/South/Central), 2022 - 2028
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.
Collating statistics on esoteric testing over the years, penetration of marketplaces and service providers ratio to compute revenue generated for esoteric testing services. We will also review service quality statistics to understand revenue generated which can ensure accuracy behind the data points shared.
Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Our team has approached multiple esoteric testing services providing channels and understanded nature of product segments and sales, consumer preference and other parameters, which supported us validate statistics derived through bottom to top approach from esoteric testing providers.
The US Esoteric Testing Market is covered from 2017–2028 in this report, including a forecast for 2022-2028.
The US Esoteric Testing Market is expected to witness a CAGR of ~6.7% over the next years.
Personalized medical advancements, technological innovations, growing geriatric population, expansion of oncology & rising healthcare infrastructure are some of the factors driving US Esoteric Testing Market
The report offers a comprehensive overview of the USA esoteric testing market including market size, growth projections, competitive landscapes, technological advancements, regulatory factors influencing the market
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