According to our new research study on “Esoteric Testing Market Forecast to 2025 – COVID-19 Impact and Global Analysis – by Technology, Test Type, and End User,” the market is expected to reach US$ 45,081.6 million by 2025 from US$ 19,868.2 million in 2017; it is estimated to grow at a CAGR of 11.7% from 2017 to 2025. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the esoteric in healthcare market is attributed to the rising prevalence of infectious diseases, growing awareness regarding early detection using specific diagnostic tests, and increasing geriatric population & associated growth in chronic diseases are expected to fuel the market growth during the forecast period. However, lack of skilled personnel and poor reimbursement scenario are likely to restrain the market growth in the future years to some extent.
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Global esoteric testing market, based on the technology was segmented into chemiluminescence immunoassay, realtime PCR, flow cytometry, mass spectrometry, enzyme-linked immunosorbent assay and others. In 2017, the chemiluminescence immunoassay segment held the largest share of the market, by technology. However, the real-time PCR is expected to grow at the fastest rate during the coming years owing to the capacity of the PCR to bind with sequence specific probes.
The esoteric testing in healthcare market is expected to witness substantial growth post-pandemic. The global healthcare infrastructure has observed that, in order to develop and maintain sustainable healthcare setup, utilization of computational technologies such as esoteric becomes crucial. Moreover, majority of the market players have focused on esoteric testing to fight against coronavirus pandemic. In addition, several number of research centers and governments have actively participated which are assisting the healthcare professionals to work efficiently even under shortage of resources. These factors will eventually drive the market growth.
Quest Diagnostics Incorporated, Laboratory Corporation of America Holdings, Sonic Healthcare, Caris Life Science, ACM Global Laboratories, Foundation Medicine, Inc., Miraca Holdings Inc., Agendia, Primary Health Care Limited and Rennova are among the leading companies operating in the esoteric testing in healthcare market.
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