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

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

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.