Luton, Bedfordshire, United Kingdom, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Esoteric Testing Market.
Description and forecast for the industry:
"The global Esoteric Testing Market is expected to grow at an 11.5 % CAGR from 2022 to 2029. It is expected to reach above USD 50.17 billion by 2029 from USD 18.83 billion in 2020."
The growing geriatric population, increasing prevalence of chronic and infectious diseases, advancing esoteric DNA sequencing technologies in precision medicine, and early diagnosis of cancer and precision medicine propel the growth of the Esoteric Testing Market. Chronic diseases including diabetes, heart disease, and cancer are on the rise all across the world. Infectious diseases including Dengue fever, Hepatitis B, C, HIV, Malaria, Tuberculosis, and others are spreading at an alarming rate. The use of esoteric testing to diagnose diseases early and effectively is becoming more popular. Esoteric test technology is improving, allowing for faster results with improved efficacy, detection limits, and sensitivity. The growing use of esoteric DNA sequencing, NGS technologies, and whole genome sequencing in cancer early detection, precision medicine, and personalized medicine is further propelling the market forward.
Along with this, the rising esoteric testing market value for innovatively mild tests has attracted significant venture R&D, bolstering the market’s future growth potential. The development and implementation of novel diagnostic procedures with a variety of benefits for a variety of intriguing infections will drive global market interest.
“Oncology segment is expected to exhibit a significant market growth over the forecast period”
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Key World Esoteric Testing Market Rivals Consists of
The Esoteric Testing Market is very fragmented, with the presence of a lot of small gamers within the developed and rising economies, such because the US, China, and India. The important thing Esoteric Testing gamers working within the world market embrace – Companies, like Labcorp, Quest Diagnostics, OPKO Health Inc., CM Global Laboratories, Laboratory Corporation of America, Fulgent Genetics, Arup Laboratories, Mayo Medical Laboratories, Invitae, Myriad Genetics, Nordic Laboratories, Genomic Health, American Esoteric Laboratories (AEL), Miraca Holdings and BioMONTR, hold a substantial market share in the Esoteric Testing market.
Industry Developments->
In 2021, Labcorp has acquired Myriad Genetics’ autoimmune business unit.
In 2021, Quest Diagnostics has collaborated with GRAIL to support a first-of-its-kind multi-cancer early detection blood test called Galleri.
In 2021, OPKO Health Inc. (BioReference Laboratories) has launched Scarlet Health, an in-home diagnostic, fully integrated digital platform, in the US.
Global Esoteric Testing Market by Region:
North America is dominated to lead largest share in the esoteric testing market due to increase in occurrence of chronic disease and rise in number of diagnostic tests and technological advancement for esoteric testing. Furthermore, Asia-Pacific holds the highest revenue due to high prevalence of chronic disease, surging government initiative for diagnostic service, surge in demand for ELISA and RT-PCR test, and rise in concern among population for self-diagnostic testing.
As a part of Esoteric Testing Market segmentation, our study exhibits a market analysis based on type, Market application and Historic Data:
| Attributes | Details (Current Scenario) |
| Base-Year | 2021 |
| Historic Data | 2016-2020 |
| Forecast Period | 2022-2029 |
| Regions Covered |
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| Report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions. Segment by Product |
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| Segment By Application |
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| CAGR Value | 11.5% (Current Market Analysis) |
| Regional Share Analysis | 38% North America |
| Important points | During the forecast period, oncology is predicted to develop at a respectable rate in the Esoteric Testing Market. The increasing importance of early cancer diagnosis and treatment will have a beneficial impact on market growth in this sector. Cancer is the second biggest cause of mortality worldwide, according to the World Health Organization. Around 1.9 million new cancer cases were recorded worldwide in 2021. Lung, breast, and prostate cancer are the most frequent cancers. |
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Frequently Asked Questions?
1. Which are the most influential growth segments in the Esoteric Testing Market report?
2. What are the key trends in the Esoteric Testing Market report?
3. What is the % market value growth in the emerging markets?
4. Who are the top companies holding market share in the Esoteric Testing Market?
5. What is the total market value of the Esoteric Testing Market report?
Clients obtain market facts and figures based on industry assessments using primary and secondary research methods.
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