United States Esoteric Testing Market Size (2024 - 2029)

The United States esoteric testing market is projected to experience significant growth over the forecast period, driven by an increased demand for advanced diagnostic tests due to the rising prevalence of chronic and infectious diseases. The market's expansion is further supported by advancements in research and development within the healthcare sector and heightened awareness for early diagnosis among the population. Despite the challenges posed by the high costs of diagnostic procedures, the continuous innovation in testing technologies is expected to contribute positively to the market's growth trajectory.

Market Size of United States Esoteric Testing Industry

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
United States Esoteric Testing Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 8.53 Billion
Market Size (2029) USD 11.79 Billion
CAGR (2024 - 2029) 6.70 %
Market Concentration Medium

Major Players

United States Esoteric Testing Market Major Players

*Disclaimer: Major Players sorted in no particular order

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

United States Esoteric Testing Market Analysis

The United States Esoteric Testing Market size is estimated at USD 8.53 billion in 2024, and is expected to reach USD 11.79 billion by 2029, growing at a CAGR of 6.70% during the forecast period (2024-2029).

The COVID-19 epidemic had an impact on the growth of the esoteric testing market in the United States. The COVID-19 pandemic has put a strain on the US healthcare system and boosted the need for ELISA and RT-PCR testing to detect COVID-19. For instance, in February 2021, Agilent Technologies Inc. launched the Agilent Dako SARS-CoV-2 IgG Enzyme-Linked Immunosorbent Assay (ELISA) kit to detect immunoglobulin G (IgG) antibodies qualitatively to SARS-CoV-2 in human serum or plasma. Thus, the demand for esoteric testing has increased during the pandemic. However, the market continued to grow post-pandemic over the forecast period due to the significant adoption of esoteric testing in the diagnosis of chronic and infectious diseases.

The rise in the prevalence of chronic and infectious diseases in the United States, advancements in R&D activities in the healthcare sector, increased population awareness for early diagnosis, and an increase in the number of diagnostic tests are expected to significantly contribute to the growth of the United States esoteric testing market during the forecast period. For instance, as stated in the American Heart Association 2021 Journal, it is estimated that by the year 2035, more than 130 million adults in the United States will have some type of heart disease. Additionally, according to Cancer Facts and Figures 2022, published in January 2022 by the American Cancer Society, there were around 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the United States in 2022. The need for precise diagnosis and treatment is enhanced by the rising incidence of cancer and the significant burden of other chronic diseases. This is likely to boost the adoption of esoteric testing for early diagnosis purposes, which will ultimately spur market expansion over the forecast period.

Moreover, market participants are concentrating on the development of innovative techniques for utilizing esoteric testing technology. For instance, in June 2021, Thermo Fisher Scientific introduced the Invitrogen Attune CytPix flow cytometer, which allows users to better comprehend cell morphology and quality. Thus, all the aforementioned factors are expected to boost market growth over the forecast period. However, the high price of diagnostic procedures has limited the growth of the market.

United States Esoteric Testing Industry Segmentation

As per the scope of the report, esoteric testing allows the analysis of rare substances or molecules that are not performed in a routine clinical laboratory. These are additional tests ordered when a physician requires additional detailed information outside routine lab testing to complete a diagnosis, establish a prognosis or choose and monitor a therapeutic regimen. Esoteric testing generally requires sophisticated instruments and materials as well as specialized personnel to perform and analyze results. The United States Esoteric Testing Market is Segmented by Type (Infectious Diseases Testing, Endocrinology Testing, Oncology Testing, Genetic Testing, Toxicology Testing, Immunology Testing, Neurology Testing, and Others) and Technology (Chemiluminescence Immunoassay, Enzyme-Linked Immunosorbent Assay, Mass Spectrometry, Real-Time PCR, Flow Cytometry, Radioimmunoassay, and Other Technologies). The report offers the value in USD (US Dollar) million for the above segments.

By Type
Infectious Diseases Testing
Endocrinology Testing
Oncology Testing
Genetic Testing
Toxicology Testing
Immunology Testing
Neurology Testing
Others
By Technology
Chemiluminescence Immunoassay
Enzyme-Linked Immunosorbent Assay
Mass Spectrometry
Real-Time PCR
Flow Cytometry
Radioimmunoassay
Other Technologies
Need A Different Region Or Segment?
Customize Now

United States Esoteric Testing Market Size Summary

The United States esoteric testing market is poised for significant growth over the forecast period, driven by the increasing prevalence of chronic and infectious diseases, advancements in research and development, and heightened awareness for early diagnosis. The market experienced a surge in demand during the COVID-19 pandemic, which highlighted the critical role of esoteric testing in disease detection and management. This trend has continued post-pandemic, as the need for precise diagnosis and treatment of chronic conditions such as heart disease and cancer remains paramount. The introduction of innovative testing technologies and products by key market players further supports this growth trajectory, as they strive to enhance diagnostic accuracy and efficiency.

The market landscape is characterized by a consolidated presence of major players, including Labcorp, Quest Diagnostics, and Mayo Medical Laboratories, among others. These companies are actively engaged in research and development to introduce technologically advanced diagnostic solutions. The approval and launch of new products, such as the Veratox VIP assay and the Xevo TQ Absolute system, are expected to drive segment growth. Despite the high cost of diagnostic procedures posing a challenge, the ongoing rise in chronic disease burden and the increasing incidence of infectious diseases are anticipated to bolster the demand for esoteric testing in the United States, thereby fueling market expansion.

Explore More

United States Esoteric Testing Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Prevalence of Chronic and Infectious Diseases

      2. 1.2.2 Rising Demand for Early Disease Detection Using Specialized Diagnostic Tests

      3. 1.2.3 Increasing Funding and Research Grants for the Development of Innovative Esoteric Tests

    3. 1.3 Market Restraints

      1. 1.3.1 High Price of Esoteric Testing Procedures

    4. 1.4 Porter Five Forces

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Infectious Diseases Testing

      2. 2.1.2 Endocrinology Testing

      3. 2.1.3 Oncology Testing

      4. 2.1.4 Genetic Testing

      5. 2.1.5 Toxicology Testing

      6. 2.1.6 Immunology Testing

      7. 2.1.7 Neurology Testing

      8. 2.1.8 Others

    2. 2.2 By Technology

      1. 2.2.1 Chemiluminescence Immunoassay

      2. 2.2.2 Enzyme-Linked Immunosorbent Assay

      3. 2.2.3 Mass Spectrometry

      4. 2.2.4 Real-Time PCR

      5. 2.2.5 Flow Cytometry

      6. 2.2.6 Radioimmunoassay

      7. 2.2.7 Other Technologies

United States Esoteric Testing Market Size FAQs

The United States Esoteric Testing Market size is expected to reach USD 8.53 billion in 2024 and grow at a CAGR of 6.70% to reach USD 11.79 billion by 2029.

In 2024, the United States Esoteric Testing Market size is expected to reach USD 8.53 billion.

United States Esoteric Testing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)