What This Report Will Provide?
Market growth is largely driven by the rising incidence of chronic and infectious diseases, increasing use of esoteric DNA sequencing technologies in precision medicine, early diagnosis of cancer, and advancements in the personalized medicine. Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market. In contrast, inadequate reimbursements of the esoteric test may restrict market growth to a certain extent. The esoteric testing market is segmented based on type, technology, end user and region.
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Expected Revenue Growth:
The global esoteric testing market is projected to reach USD 36.3 billion by 2026 from USD 21.0 billion in 2021, at a CAGR of 11.6% during the forecast period.
The global esoteric testing market is consolidated. The prominent players operating in this market include Labcorp (US), Quest Diagnostics (US) and OPKO Health Inc. (US).
Labcorp (US) is one of the leading players in the esoteric testing market. Labcorp Diagnostics (Dx) is the diagnostic business segment of the company that operates through a network of rapid response laboratories, specialty laboratories, primary laboratories, patient service centers, and branches. The company has a strong presence in the North America, Europe, and others. The company has a strong position in commercializing new diagnostic technologies and delivering a combination of world-class diagnostics, drug development, and knowledge services.
Recent Developments:
- Labcorp will acquire Myriad Genetics’ autoimmune business unit.
- Quest Diagnostics collaborated with GRAIL to support a first-of-its-kind multi-cancer early detection blood test called Galleri.
- OPKO Health Inc. (BioReference Laboratories) launched Scarlet Health, an in-home diagnostic, fully integrated digital platform, in the US.
- H.U. Group Holdings’ subsidiary, Miraca Holdings, partnered with the Chugai Pharmaceutical Co., Ltd.
Key Questions Addressed in The Report:
- Where will all these developments take the industry in the long term?
- What are the upcoming trends in the Esoteric Testing market?
- Which segment provides the most opportunity for growth?
- Who are the leading players operating in this market?
- What are the opportunities for new market entrants?
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