$20+ Billion Esoteric Testing Market 2018-2023 - Focus on Mass Spectrometry, CLIA, ELISA, PCR Technologies

News provided by

Research and Markets

09 Feb, 2018, 13:15 GMT

DUBLIN, Feb. 9, 2018 /PRNewswire/ --

The "Esoteric Testing Market by Type (Infectious Disease, Endocrinology, Oncology, Toxicology, Immunology, Neurology), Lab Type (Independent Labs, Hospital Laboratories), Technology (Mass Spectrometry, CLIA, ELISA, PCR) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global esoteric testing market is projected to reach USD 35.24 Billion by 2023 from USD 20.38 Billion in 2018, at a CAGR of 11.6%. The rising demand for early and accurate disease diagnosis, increasing prevalence of infectious diseases, growing public-private investments as well as research funding & grants to develop innovative laboratory testing procedures, and advancements in clinical diagnostic techniques are the key factors driving the growth of the market.

North America is expected to command the largest share of the market in 2018 owing to the government initiatives to promote awareness about preventive screening, growing public and private funding for research on the development of clinical laboratory tests, and increasing adoption of genome-based laboratory tests. However, Asia Pacific is expected to register the highest growth rate during the forecast period due to rising healthcare expenditure, increasing number of hospitals and clinical diagnostic laboratories in India and China, and strong research bases for esoteric testing procedures across India, China, and Japan.

The major factors driving the growth of this market in the North American region include accessibility to advanced technologies, the presence of a well-established network of independent & reference laboratories, expansion of molecular diagnostics for genetic disorders and cancer screening, and presence of major leading companies in the US.

Market Dynamics

Drivers

  • Rising Geriatric Population and Subsequent Growth in the Prevalence of Chronic Diseases
  • Increasing Burden of Infectious Diseases
  • Rising Demand for Early Disease Detection Using Specialized Diagnostic Tests
  • Growing Awareness of Personalized Medicine
  • Increasing Funding and Research Grants for the Development of Innovative Esoteric Tests

Restraints

  • Unfavorable Reimbursement Scenario

Opportunities

  • Condition-Specific Markers and Tests With Advances in Genomics and Proteomics
  • Growth Opportunities in Emerging Countries

Challenges

  • Changing Regulatory Landscape

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Insights

7 Esoteric Testing Market, By Type

8 Esoteric Testing Market, By Technology

9 Global Esoteric Testing Market, By Laboratory Type

10 Esoteric Testing Market, By Region

11 Competitive Landscape

12 Company Profiles

  • ACM Global Laboratories
  • Arup Laboratories
  • Foundation Medicine
  • Fulgent Genetics
  • Healthscope
  • Invitae
  • Labcorp
  • Mayo Medical Laboratories
  • Miraca Holdings
  • Myriad Genetics
  • Opko Health
  • Primary Health Care
  • Quest Diagnostics
  • Sonic Healthcare
  • Spectra Laboratories

For more information about this report visit https://www.researchandmarkets.com/research/r5rzt9/20_billion?w=5

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Laura Wood, Senior Manager
press@researchandmarkets.com  

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Related Links

http://www.researchandmarkets.com