Esoteric Testing Market by Type (Infectious Disease, Endocrinology, Oncology, Toxicology, Immunology, Genetic Testing), Technology (MS, CLIA, ELISA, PCR), End User (Independent & Reference Laboratories, Hospital Laboratories) – Global Forecast to 2026“, published by MarketsandMarkets™, the global 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. Increasing incidence of chronic and infectious diseases, increasing use of esoteric DNA sequencing technologies in precision medicine, early diagnosis of cancer and advances in personalized medicine are key factors driving the market growth.
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infectious diseases accounted for the largest share of the Esoteric Testing Market. The genetic testing segment is expected to grow at the highest CAGR during the forecast period.
Based on the type, the market is segmented into infectious disease testing, endocrinology testing, oncology testing, genetic testing, toxicology testing, immunology testing, neurology testing, and other testing. the infectious disease testing segment accounted the largest share of the Esoteric Testing Market. The largest share of the segment is attributed to the increasing incidence of infectious diseases, technological innovations in molecular diagnostics, and improving healthcare infrastructure in developing nations.
CLIA segment account for the largest share of the market
Based on technology, Esoteric Testing Market is segmented into chemiluminescence immunoassay (CLIA), enzyme-linked immunosorbent assay (ELISA), mass spectrometry, real-time PCR, flow cytometry, DNA sequencing, and other technologies. CLIA accounted for the largest share of the market. The large share of this segment can be attributed to its advantages over other testing methods, such as high-performance levels, low detection limits, higher specificity, high signal intensity, and good precision.
Independent & reference laboratories account for the largest share of the Esoteric Testing Market
Based on end user, the market is segmented into independent & reference laboratories and hospital-based laboratories. Independent & reference laboratories account for the largest share of the market. The largest share is attributed to the high testing volumes.
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North America was the largest regional market for the Esoteric Testing Market
The market is segmented into four major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America was the largest regional market for market. The large share of the North American market can be attributed to the increasing per capita healthcare expenditure, presence of the leading market players, increasing use of rapid diagnostics, expanding geriatric population, and advancing precision medicine in the region.
Key Market Players
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).
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