Esoteric Testing Market to grow at 9% CAGR from 2017 to 2024

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Esoteric Testing Market forecast to reach 35bn
by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Esoteric Testing Market

• Global Market Insights, Inc. says Esoteric
  Testing Market size is set to exceed USD 35
  billion by 2024.
• Growing demand for genomics and proteomics has
  led to a marked increase for genetic testing.
  Genetic testing is gaining popularity over the
  years due to rising prevalence of complex
  diseases such as muscular dystrophy, epilepsy,
  and Alzheimer's disease among others
• Moreover, growing adoption of companion
  diagnostics due to rise in demand for targeted
  therapies for cancer treatment should also
  contribute to the esoteric testing market growth.
• Implementation of advanced technologies such as
  bioinformatics and growing lab automation trend
  are other pivotal factors likely to propel the
  esoteric testing market growth.

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Continued...

• The shift in trend towards preventive disease
  management and identification of risk factors in
  the disease areas of endocrinology, oncology as
  well as reproduction health in women should
  further fuel the esoteric testing business
  growth.
• Strict regulatory framework, and unfavorable
  reimbursement scenario along with dearth of
  qualified technical personnel to operate
  specialized esoteric tests may restrain esoteric
  testing industry expansion during the forecast
  timeframe.
• Oncology segment is slated to witness lucrative
  rate owing to increasing prevalence of cancer and
  introduction of number of esoteric tests such as
  PTEN/ERG FISH, and UroVysion FISH tests for
  detection of bladder cancer and assessment of
  treatment for prostate cancer.
• Chemiluminescence and ELISA technologies are the
  largest revenue generators in esoteric testing
  market owing the benefits offered along with high
  volume of tests conducted for the areas of
  infectious diseases and immunology.

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Continued...

• Mass spectrometry is another technology which is
  anticipated to grow at rapid rate due to
  technological advancements in the field and
  increased usage of combined technologies such as
  tandem mass spectrometry and LC/MS in esoteric
  testing.
• Europe esoteric testing market is predominantly
  driven by countries of Germany and UK.
• Japan was the largest esoteric testing market in
  Asia Pacific region, followed by China and India
  in 2016.
• The countries of China and India are slated to
  witness rapid growth in the coming years due to
  presence of large unmet needs in terms of large
  patient pool of infectious and immunological
  diseases, rising per capita income and
  development of healthcare infrastructure.
• Prominent industry players include Laboratory
  Corporation of America, Quest Diagnostics, Opko
  Health Company, Arup Laboratories, Mayo Medical
  Laboratories, Myriad Genetics, Genomic Health,
  Invitae, BioMONTR, ACM Global Laboratories, and
  Nordic Laboratories.

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Germany Esoteric Testing Market Size, By Test
Type, 2013-2024 (USD Million)

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