Factors such as the increasing prevalence of chronic diseases and rising therapeutics demand are estimated to drive market growth during the forecast period.
Additionally, advancements in diagnostic and treatment technologies boost the market. Furthermore, esoteric testing is generally outsourced from reference laboratories or independent laboratories and is not cost-effective.
The global esoteric testing market is segmented on the basis of test type, technology, end-user, and region. Considering test type, the market is segmented into infectious diseases testing, endocrinology testing, oncology testing, genetic testing, toxicology testing, immunology testing, neurology testing, and others.
The Americas dominates the global esoteric testing market owing to the increasing prevalence of chronic diseases and presence of a well-developed healthcare sector within the region. Moreover, the increasing healthcare expenditure, growing geriatric population, and presence of key players within the regional boundaries provide a favorable background for the market growth.
Europe is the second largest in the global esoteric testing market. Factors such as the increasing availability of funds for research and a huge patient population followed by a well-developed healthcare sector drive the market within the region.