Esoteric Testing Market Analysis

Esoteric Testing Market Analysis

Based on test type, the esoteric testing market is classified into endocrinology, infectious disease and immunology, oncology, neurology, toxicology, genomics, and others. Infectious disease and immunology segment accounted for over 30% revenue share in 2021. Increasing prevalence of infectious diseases with growing demand for specialty tests will escalate the overall industry test volumes.
 

Furthermore, growing efficiency of esoteric tests in diagnosis of immunological disorders is another paramount factor contributing to the momentous growth of the segment.
 

Based on technology, the esoteric testing market is segmented into mass spectrometry, flow cytometry, ELISA, radioimmunoassay, chemiluminescence, RT-PCR and others. Chemiluminescence segment accounted for more than USD 6.6 billion revenue in 2021 and is anticipated to witness lucrative CAGR over the projected period.
 

The segment growth is highly attributable to the rapid increase in usage of chemiluminescence in esoteric testing owing to its capability to detect analyte in low volume test samples. It offers high sensitivity, enhanced efficacy and accurate diagnosis that will further accelerate the segmental demand.
 

North America esoteric testing market is estimated to register over 6.1% CAGR during the analysis timeline. Owing to growing awareness regarding the benefits of early disease detection coupled with high adoption rate of esoteric diagnostic techniques, the region will witness increase in the test volumes during the forecast period.
 

Additionally, the existence of advanced clinical testing services and significant investment in R&D are the paramount factors adding to the increased usage rate of esoteric testing in the region. Further, presence of leading service providers and favourable reimbursement scenario will strengthen the North American market forecasts.