United States Esoteric Testing Market Size
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 Market Trends
This section covers the major market trends shaping the US Esoteric Testing Market according to our research experts:
Infectious Diseases Testing Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Infectious diseases are caused by pathogenic microorganisms, such as bacteria, viruses, parasites, or fungi. Diseases can be spread, directly or indirectly, from one person to another. Zoonotic diseases are infectious diseases of animals that can cause disease when transmitted to humans. Recently, the cases of certain infectious diseases in the United States have increased. For instance, as per the Department of Health and Human Services Report published in 2021, in 2020, 30,635 people received an HIV diagnosis in the United States and its dependent areas. An increase in infectious diseases is expected to boost the esoteric testing market in the United States.
Furthermore, new research and development, technological breakthroughs, and the introduction of technologically upgraded items by key rivals are expected to fuel market growth. Altona Diagnostics released one in-vitro diagnostic test in April 2021 that recognizes and measures the human immunodeficiency virus (HIV) specific RNA in human plasma. It uses real-time RT-PCR technology. The 1.5 AltoStar HIV RT-PCR Kit was the name of the test. Thus, all the aforementioned factors are expected to boost segment growth over the forecast period.
Chemiluminescence Immunoassay Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Chemiluminescence (CL) is described as the discharge of electromagnetic radiation owing to the production of light by a chemical reaction. Chemiluminescence immunoassay (CLIA) is an assay incorporating the technique of chemiluminescence with immunochemical reactions. The segment's growth is driven by the rising prevalence of chronic diseases and product launches by the market players.
As per the CDC (Centers for Disease Control and Prevention) data updated in February 2022, coronary artery disease, ischemic heart disease, or history of myocardial infarction accounted for 7.2% of emergency room visits currently, and the data updated in January 2022 by the CDC shows that the number of visits to emergency departments with stroke as the primary diagnosis was 432,000 in the previous year. Thus, the significant burden of chronic diseases in the United States is expected to rise in demand for esoteric testing and thereby boost segment growth.
In addition, according to the American Academy of Dermatology Association, more than 1 million Americans are living with melanoma. In the United States, 197,700 new cases of melanoma will be diagnosed in 2022, with 97,920 non-invasive (in situ) and 99,780 invasive cases. Melanoma claims the lives of over 20 Americans every day. Melanoma is anticipated to kill 7,650 people in 2022, with 5,080 males and 2,570 females dying. Thus, the increasing prevalence and burden of chronic diseases in the country demand effective diagnosis and treatment methods, resulting in increased use of CLIA methods. This is expected to contribute to the growth of the market.
The approval and introduction of new products will likely drive segment growth throughout the forecast period. For instance, in May 2021, the US Food and Drug Administration gave emergency permission to Inova Diagnostics' QUANTA Flash SARSCoV2 IgG for use in the BIOFLASH Random Access Chemiluminescent Analyzer. Thus, all the aforesaid factors, such as the growing burden of chronic diseases and product approval, are expected to boost segment growth over the forecast period.
United States Esoteric Testing Industry Overview
The United States' esoteric testing market is consolidated with the presence of several players. It encourages innovation, research, and development. Companies like Labcorp, Quest Diagnostics, OPKO Health Inc., Laboratory Corporation of America, Fulgent Genetics, Mayo Medical Laboratories, Invitae, Myriad Genetics, Nordic Laboratories, Genomic Health, American Esoteric Laboratories (AEL), Miraca Holdings hold a substantial market share in the Esoteric Testing market.
United States Esoteric Testing Market Leaders
Laboratory Corporation of America Holding
Opko Health Company
Mayo Medical Laboratories
Invitae
Myriad Genetics
*Disclaimer: Major Players sorted in no particular order
United States Esoteric Testing Market News
- September 2022: Neogen Corporation launched its innovative Veratox VIP assay to detect cashew, the second assay in Neogen's new Veratox VIP line of enhanced quantitative ELISA products.
- March 2022: Waters Corporation launched the Xevo TQ Absolute system, a highly sensitive and compact benchtop tandem mass spectrometer. As per the company, this latest mass spectrometer is up to 15X more sensitive for quantifying negatively ionizing compounds than its predecessor, is 45% smaller and uses up to 50% less electricity and gas supply.
United States Esoteric Testing Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Chronic and Infectious Diseases
4.2.2 Rising Demand for Early Disease Detection Using Specialized Diagnostic Tests
4.2.3 Increasing Funding and Research Grants for the Development of Innovative Esoteric Tests
4.3 Market Restraints
4.3.1 High Price of Esoteric Testing Procedures
4.4 Porter Five Forces
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Infectious Diseases Testing
5.1.2 Endocrinology Testing
5.1.3 Oncology Testing
5.1.4 Genetic Testing
5.1.5 Toxicology Testing
5.1.6 Immunology Testing
5.1.7 Neurology Testing
5.1.8 Others
5.2 By Technology
5.2.1 Chemiluminescence Immunoassay
5.2.2 Enzyme-Linked Immunosorbent Assay
5.2.3 Mass Spectrometry
5.2.4 Real-Time PCR
5.2.5 Flow Cytometry
5.2.6 Radioimmunoassay
5.2.7 Other Technologies
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Laboratory Corporation of America
6.1.2 Opko Health Company
6.1.3 Mayo Medical Laboratories
6.1.4 Myriad Genetics
6.1.5 Exact Science Corporation
6.1.6 Avista Capital Partners (Miraca Holdings Inc)
6.1.7 Fulgent Genetics Inc
6.1.8 Invitae
6.1.9 Quest Diagnostic
6.1.10 Nordic Laboratories,
6.1.11 Sonic Healthcare (American Esoteric Laboratories (AEL)),
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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 |
United States Esoteric Testing Market Research FAQs
How big is the United States Esoteric Testing Market?
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.
What is the current United States Esoteric Testing Market size?
In 2024, the United States Esoteric Testing Market size is expected to reach USD 8.53 billion.
Who are the key players in United States Esoteric Testing Market?
Laboratory Corporation of America Holding, Opko Health Company, Mayo Medical Laboratories, Invitae and Myriad Genetics are the major companies operating in the United States Esoteric Testing Market.
What years does this United States Esoteric Testing Market cover, and what was the market size in 2023?
In 2023, the United States Esoteric Testing Market size was estimated at USD 7.99 billion. The report covers the United States Esoteric Testing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Esoteric Testing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Esoteric Testing Industry Report
Statistics for the 2024 United States Esoteric Testing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Esoteric Testing analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
