The US esoteric testing market is expected to expand at a CAGR of 5.5% during the forecast period, 2021-2028. The growth of the market is attributed to increasing awareness regarding early diagnosis of rare diseases. Moreover, ongoing technological advancements is driving the market growth.
Esoteric testing refers to the analysis of molecules that are not performed in clinical laboratories. These tests require precise instruments and are carried out by specialized personnel. According to the American Cancer Society, around 23% of cancer patients are diagnosed with the rarer form of cancers. These tests are outsourced owing to requirement of sophisticated instruments.
Rapid rise in the public-private investments for research funding & increasing number of grants to develop innovative laboratory testing procedures are the key factors driving the growth of the market
Rising demand for precise diagnosis & treatment and advancements in genomics and proteomics are expected to spur the growth of the market
Global High Capacity Power Bank Market Segment Insights
Based on types, the market is divided into infectious diseases testing, endocrinology testing, oncology testing, genetic testing, toxicology testing, immunology testing, neurology testing, and others. The infectious disease testing segment is anticipated to account for a large market shares due to increasing demand for diagnosis of diseases caused by pathogenic organisms such as viruses, bacteria, fungi, or parasites. Infectious diseases such as influenza, HIV, hepatitis, malaria, and others can be detected easily. The infectious disease testing segment is expected to expand at a CAGR of 8% in the US during the forecast period.
The oncology testing segment is expected to grow at a healthy rate during the forecast period. Increasing prevalence of cancer is driving the growth of the market segment. The improvement in the insurance plans and increasing government expenditure on healthcare infrastructure are spurring the growth of the oncology testing equipment.
On the basis of technology, the market is segmented into chemiluminescence immunoassay, enzyme-linked immunosorbent assay, mass spectrometry, real-time PCR, flow cytometry, radioimmunoassay, others. The mass spectrometry market size in the US was around USD 1.1 Billion in the year 2020 and is expected to propel at rapid pace during forecast period, 2021-2028. Increasing demand for cost-effective testing is driving the segment growth. Conversely, the real-time PCR segment is expected to grow at a healthy rate in the coming years.
Get Sample Report @ Request For Sample of US Esoteric Testing Market- Industry Analysis, Growth, Share, Size, Trends, and Forecast | Growth Market Reports
Key Players Covered in the Report
Laboratory corporation of America, Opko health company, Mayo medical laboratories, myriad genetics, Genomic heal, Miraca holdings Inc, Fulgent genetics Inc. and Invitae.
About Growth Market Reports:
Growth Market Reports provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. Growth Market Reports has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.
Contact:
Growth Market Reports
Phone: +1 909 414 1393
Email: sales@growthmarketreports.com
Web: https://growthmarketreports.com
Follow Us: LinkedIn | Twitter
