This report outlines the current trends and key factors propelling market growth. The increase in chronic disease prevalence and heightened awareness regarding the importance of early medical condition detection are significant contributors to the expansion of the esoteric testing market. Furthermore, advancements in genetic testing and initiatives aimed at addressing rare diseases by regulatory bodies are anticipated to be prominent trends influencing the market throughout the forecast period. However, challenges such as a shortage of skilled professionals and the high costs associated with procedures may impede market growth from 2022 to 2030.
The rising awareness surrounding the early detection of medical conditions is a crucial driver for the market in the upcoming years.
Early disease diagnosis enables healthcare providers and patients to make critical decisions regarding treatment, support requirements, and financial or legal considerations. Achieving an accurate diagnosis promptly after recognizing cognitive symptoms related to a specific condition can lead to the reversal of symptoms before they worsen, facilitating effective and timely patient treatment. This also grants healthcare professionals ample time for informed decision-making. Laboratory tests are routinely conducted to diagnose diseases across various medical specialties, including neurology, genetics, oncology, and endocrinology. Esoteric and genetic testing are utilized for diagnosing conditions such as diabetes, cardiovascular diseases, lipid disorders, cancer, and genetic disorders.
Numerous government regulatory agencies are actively promoting early diagnosis through various initiatives and campaigns. For instance, the National Organization for Rare Disorders focuses on identifying, diagnosing, and treating rare conditions through a range of supportive programs, including education, research, advocacy, and patient services. Additionally, the New York State Rare Disease Workgroup was established following legislation in New York State (Article 27-L of the Public Health Law) to identify best practices that enhance awareness of rare diseases. Such initiatives facilitate referrals to specialists for individuals potentially suffering from rare diseases and address barriers to treatment, including financial obstacles. These efforts to increase knowledge about available diagnostic options for complex genetic and non-genetic rare disorders contribute positively to the growth of the esoteric testing market.
Report Segmentation and Scope
The "Esoteric testing market" is categorized based on type, technology, and end user. The market is divided into several types, including infectious disease testing, endocrinology testing, oncology testing, toxicology testing, immunology testing, neurology testing, and others. In terms of technology, the esoteric testing market encompasses chemiluminescence immunoassay, enzyme-linked immunosorbent assay, mass spectrometry, real-time PCR, DNA sequencing, flow cytometry, and additional methods. Regarding end users, the market is segmented into hospitals, laboratories, and independent or reference laboratories.
By type, the esoteric testing market includes segments for infectious diseases, endocrinology, oncology, toxicology, immunology, neurology, and others. The oncology testing segment accounted for the largest market share in 2022, while the infectious disease testing segment is projected to exhibit the highest CAGR from 2022 to 2030.
In terms of technology, the esoteric testing market is classified into chemiluminescence immunoassay, enzyme-linked immunosorbent assay, mass spectrometry, real-time PCR, DNA sequencing, flow cytometry, and others. The chemiluminescence immunoassay segment held the largest market share in 2022, with the enzyme-linked immunosorbent assay segment expected to achieve the highest CAGR of 18.7% during the period from 2022 to 2030.
Based on end users, the esoteric testing market is divided into hospitals, laboratories, and independent or reference laboratories. The hospitals and laboratories segment represented a larger market share in 2022 and is anticipated to grow at a higher CAGR of 15.2% from 2022 to 2030.
Esoteric tests are typically conducted to analyze rare and unique substances that are not included in standard tests. Clinical laboratories require specialized expertise to perform these tests, leading many large commercial laboratories to outsource complex tests to reference and esoteric testing laboratories. Notable laboratories in the US that conduct esoteric testing include Quest Diagnostics Incorporated, Mayo Medical Laboratories, ARUP Laboratories, Myriad Genetics, Genomic Health, Foundation Medicine, and Laboratory Corporation of America. The number of laboratories capable of performing these specialized tests is on the rise in the region.
According to an article by the Endocrine Society published in January 2022, hypogonadism is a prevalent condition among men, particularly affecting older individuals, those who are obese, and men with type 2 diabetes. It is estimated that 35% of men over 45 years and 30-50% of men with type 2 diabetes or obesity experience hypogonadism. Furthermore, the US Census Bureau projects that the incidence of hypogonadism in men aged 65 and older increased from approximately 35 million in 2000 to around 55 million by 2020, with expectations to rise to about 87 million by 2050. The increasing prevalence of this condition is largely attributed to the growing elderly population in the US.
Consequently, the rising cases of hypogonadism, hepatic cirrhosis, and similar diseases are driving the expansion of the esoteric testing market in the United States.
Key sources referenced in the preparation of this report on the esoteric testing market include the American Heart Association, The American Thyroid Association, The United States Food and Drug Administration (FDA), MyBioSource.com, The Endocrine Society, and the National Institutes of Health (NIH).