Esoteric Testing Market Overview by Industry Chain Information, Upstream Raw Materials & Downstream Industry
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Advancements in personalized medicine is a key factor driving market revenue growth
VANCOUVER, BC, CANADA, January 17, 2023 /EINPresswire.com/ -- The esoteric testing market size reached USD 20.85 Billion in 2021 and is expected to register a revenue CAGR of 11.7% during the forecast period, according to latest analysis by Emergen Research. One of the main factors driving revenue growth of the market is rising prevalence of infectious and chronic diseases. Rising prevalence of chronic disorders presents a significant opportunity for innovative research into unique molecules that can be altered to create brand-new medications. One of the major factors driving revenue growth of the market is rising number of successful research and development outcomes in the area of cellular immunology that are used to treat conditions such as cardiovascular disease, adenocarcinomas, neurological illnesses, and others. One of the major factors driving use of genomics, proteomics, and molecular diagnostics is the fact that patients are aware of the benefits of these technologies.
The latest market intelligence study, called “Global Esoteric Testing Market Forecast to 2030,” jots down some of the most prominent growth potentials of the global Esoteric Testing market. The report is primarily targeted at the industry stakeholders looking to capitalize on this report’s contents to make improved business decisions. The report is further intended to help the readers gain vital insights into the global market, particularly the prevailing growth opportunities and competitive scenario. The insightful data & information provided by this report are gathered from various primary and secondary sources.
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Some Key Highlights From the Report
The infectious diseases testing segment accounted for largest revenue share in 2021. Increasing prevalence of infectious diseases including cholera, dengue, and other illnesses is driving revenue growth of the segment. An array of detection tests can better penetrate the market owing to increasing prevalence of infectious diseases.
The Enzyme Linked Immunosorbent Assay (ELISA) segment accounted for a significant revenue share in 2021. One of the main factors driving revenue growth of the segment is increasing use of ELISA to detect different disease antigens across the globe.
The market in North America accounted for largest revenue share in 2021. One of the major factors driving revenue growth in North America is rising initiatives taken by different organizations in the region to perform research on orphan medications to treat rare diseases. Revenue growth of the market in North America is mostly being driven by increasing acceptance of immunology-based products in the region. The market penetration of the approved pharmaceuticals is expected to significantly grow as a result of increase in product approvals. In addition, it is expected that rising number of Research and Development (R&D) efforts carried out by regional market players would result in the introduction of fresh, S. Food and Drug Administration (FDA)-approved products.
On 29 March 2022, SYNLAB and OncoDNA collaborated to offer thorough biomarker testing for cancer therapy decision-making in Germany. SYNLAB will offer the high-quality, pan-cancer OncoDEEP biomarker test to enhance patient response prediction to a variety of authorized and unapproved medicines.
The leading contenders in the global Esoteric Testing market are listed below:
Laboratory Corporation of America, OPKO Health, Inc., H.U. Group Holdings, Inc., Nordic Lifesciences, Genomic Health, Inc.; American Medical Lab, Invitae Corporation, SYNLAB International GmbH, UNILABS, and Fulgent Genetics
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Emergen Research has segmented the global clinical decision support devices market on the basis of type, techniques and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
Infectious Diseases Testing
Oncology testing
Immunology Testing
Others
Techniques Outlook (Revenue, USD Billion; 2019-2030)
ELISA
Flow Cytometry
RT - PCR
Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Turkey
Rest of MEA
Regional Outlook of the Esoteric Testing Market
The global Esoteric Testing market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Esoteric Testing market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
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Key reasons to buy the Global Esoteric Testing Market report:
The latest report comprehensively studies the global Esoteric Testing market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market.
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Esoteric Testing Market Size Worth USD 56.44 Billion in 2030
