U.S. ESOTERIC TESTING MARKET WAS VALUED AT USD 5484.04 MILLION BY 2020 AND IS EXPECTED TO REACH USD 8010.66 MILLION BY 2026, GROWING AT A CAGR OF 6.52% DURING 2021-2026

U.S. Esoteric Testing Market Size, Share & Trends Analysis Report by Field of Study (Endocrinology, Genetics, Immunology, Infectious Disease, Oncology, and Others), Technology (Immunoassay, LC-MS/MS, RT-PCR, Flow Cytometry, Gene Sequencing, and Others), and Patient Type (Inpatient Testing and Outpatient Testing), Industry Analysis, Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Research, Share & Forecast, 2021-2026

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153 Pages

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21 Tables

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67 Charts

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12 Companies

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3 Market Segment

U.S. ESOTERIC TESTING MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (REVENUE) 8010.66 MILLION (2026)
CAGR 6.52% (2021-2026)
Base Year 2020
Forecast Year 2021-2026
Market Segments Field of Study (Endocrinology, Genetics, Immunology, Infectious Disease, Oncology, and Others), Technology (Immunoassay, LC-MS/MS, RT-PCR, Flow Cytometry, Gene Sequencing, and Others), and Patient Type (Inpatient Testing and Outpatient Testing)
Geographic Analysis United States
Countries Covered US

U.S. ESOTERIC TESTING INDUSTRY INSIGHTS

The U.S. esoteric testing market to reach USD 8010.66 million by 2026, growing at a CAGR of 6.52% during the forecast period. Increasing patient awareness is boosting the use of esoteric tests in treating cancer and genetic disorders. Aggressive marketing done by the service providers is one of the major factors driving the industry growth. The esoteric testing service providers directly sell their services to the physicians. 

Advancement in technology such as first-generation genome sequencing and next-generation genome sequencing drives the U.S. esoteric testing market growth. The increasing usage of precision medicines and personalized medicines is booming in the clinical diagnostics and esoteric testing market in the US. The out-patient testing segment occupies 78% of the U.S. esoteric testing market share. During the COVID-19 pandemic, this testing played a significant role in analyzing the structure of the virus, assigning the treatment for infection, and detecting the presence in infected people. Thus, the advent of COVID-19 is positively impacting the demand for esoteric testing across the country. 

The high acceptance of laboratory automation will support the growth of the market. Companion diagnostics is a set of esoteric tests that personalizes the medication to get the maximum efficacy of the treatment in certain patients. LabCorp is the leading company in the companion diagnostics market, alongside Covance serving many drug makers in developing companion assays for their drugs. The rising awareness among the population towards personal health is soaring the sales of routine testing and esoteric testing in the US, owing to the benefit of early detection of diseases. 

KEY HIGHTLIGHTS

  • Oncology testing segment to grow at the fastest CAGR of approx. 8% during the forecast period.
  • The real time-PCR segment is likely to witness incremental growth of over USD 500 million by 2026.
  • The paradigm shift from diagnosis & treatment to risk assessment and predisposition is one of the significant growth enablers of the market.
  • The market is dominated mainly by LabCorp and Quest Diagnostics. These two companies are competing in terms of collaborations with healthcare facilities, mergers, and acquisition activities.

U.S. ESOTERIC TESTING MARKET GROWTH FACTORS

  • The growth of the U.S. esoteric testing market is driven by the demand for high-end diagnostic and treatment methods from the patient’s end.
  • The frequency of orders for esoteric tests is low, and high pricing facilitates the growth of the US esoteric testing market.
  • There are more than 7,000 different rare diseases, and the US population suffering from these diseases is expected to be around 25-30 million, creating growth opportunities for the vendors in the esoteric testing market in the US.
  • Rising patient awareness about the benefits of precision and personalized medicine resulting in the expanding use of genomics studies boosts the market growth.

U.S. ESOTERIC TESTING MARKET SEGMENTATION

This research report includes a detailed segmentation by

  • Field of Study
  • Technology
  • Patient Type

INSIGHTS BY FIELD OF STUDY

The infectious disease segment is likely to witness an incremental growth of over USD 650 million by 2026.

In 2020, the Immunology segment occupied over 12% of the U.S. esoteric testing market share. While performing esoteric testing in the field of immunology, various technologies are used. It includes analytical technologies such as ELISA, Western blotting analysis, Immunofluorescence assays, Hemagglutination inhibition assay, etc.

There are more than 31 companion diagnostics assays in the market today, and LabCorp and Covance have helped in the development of almost 75% of those. The largest application area of such tests is Oncology. Quest Diagnostics provides a wide range of mass spectrometry innovations such as liquid chromatography-tandem mass spectrometry assays, insulin-like growth factor, thyroglobulin, and steroid multiplexing. Quest diagnostics have innovated the MS to produce a method to detect the IGF-I factor, which produces rapid and more accurate results.

INSIGHTS BY TECHNOLOGY

LC-MS/MS technology to witness the highest incremental growth during the forecast period.

Based on technology, esoteric tests are helpful in the diagnosis of many rare disorders. The next-generation sequencing technique is a modern technique of gene sequencing, which is a highly efficient and rapid method of gene sequencing. Esoteric laboratories were the first to adopt the LC-MS/MS technology as it provided the advantage of being cost-effective over conventional testing methods such as HPLC and GC-MS. Technological advancements in gene sequencing have been continuously reduced the cost required and the time taken for genome sequencing. LC-MS/MS to witness enormous growth for high application in laboratory diagnostics. Quest Diagnostic is one of the leading vendors in the US esoteric testing market and clinical diagnostics market and uses LC-MS/MS technology for testing in endocrinology.

INSIGHTS BY PATIENT TYPE

The out-patient testing segment acquired 78% of the U.S. esoteric testing market share in 2020.

Out-patient care is widely accepted by patients who are opting the genetic testing. The vendors providing out-patient testing services first confirm the billing ability of the patient to pay for the test. Out-patient testing is witnessing growth in revenue, as the esoteric test in an inpatient setting is not economical for most hospitals. Most of the hospitals focus on making the tests in an out-patient setting.

COMPETITIVE LANDSCAPE

Technology advancement and collaboration are the key factors driving the competition in the US market. Players are looking to equip their testing catalog with the latest findings and advanced technologies. Laboratory Corporation of America Holdings has performed many acquisitions over the years, which has strengthened its position in the market. It has helped in strengthening the company’s scientific capabilities and increasing the therapeutic fields. In the diagnostics segment, a significant part of the company’s revenue is generated in the US and focusing on improving its presence across the globe. 

The U.S. esoteric testing market research report includes in-depth coverage of industry analysis with revenue and forecast insights for the following segments:

Segmentation by Field of Study

  • Endocrinology
  • Genetics
  • Immunology
  • Infectious Disease
  • Oncology
  • Others

Segmentation by Technology

  • Immunoassay
  • LC-MS/MS
  • RT-PCR
  • Flow Cytometry
  • Gene Sequencing
  • Others

Segmentation by Patient Type

  • Inpatient Testing
  • Outpatient Testing

Frequently Asked Questions

What is the U.S. esoteric testing market size?

U.S. esoteric testing market to reach over USD 8010.66 million by 2026.

What is the growth rate of the United States esoteric testing market?

The United States market to grow at a CAGR of around 7% during the forecast period.

Who are the key players in the esoteric testing market?

Quest Diagnostics, LabCorp, BioReference Laboratories, Eurofins Scientific, Mayo Clinic Laboratories, Sonic Healthcare are the key players in the U.S. market.

What are the upcoming trends in the esoteric testing market?

Technology advancement and automation are some of the upcoming trends in the industry.

Which technology segment dominated the esoteric testing industry in 2020?

In 2020, LC-MS acquired a share of over 23% in the US esoteric testing market.

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The U.S. esoteric testing market size is expected to grow at a CAGR of around 6.52% during 2020-2026

The following factors are likely to contribute to the growth of the US esoteric testing market during the forecast period:

  • Paradigm shift from diagnosis & treatment to risk assessment and predisposition
  • Increasing trends of technological advancements
  • Rising growth towards personalized medication/precision medicine
  • Automation of laboratory testing

Base Year: 2020

Forecast Year: 2021-2026

The report considers the present scenario of the U.S. esoteric testing market and its market dynamics for the period 2020−2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

Major Vendors

  • Laboratory Corporation of America Holdings (Labcorp)
    • Business Overview
    • Products Offerings
    • Key Strategies
    • Key Strengths
    • Key Opportunities
  • Quest Diagnostics
  • BioReference Laboratories
  • Eurofins Scientific
  • Mayo Clinic Laboratories
  • Sonic Healthcare

Other Prominent Vendors

  • Myriad Genetics
    • Business Overview
    • Product Offerings
  • ARUP Laboratories
  • South Bend Medical Foundation
  • Capstone Healthcare
  • BioAgilytix
  • Biological Laboratory

Segmentation by Field of Study

  • Endocrinology
  • Genetics
  • Immunology
  • Infectious Disease
  • Oncology
  • Others

Segmentation by Technology

  • Immunoassay
  • LC-MS/MS
  • RT-PCR
  • Flow Cytometry
  • Gene Sequencing
  • Others

Segmentation by Patient Type

  • Inpatient Testing
  • Outpatient Testing

 

1           Research Methodology

2           Research Objectives

          Research Process

 

          Scope & Coverage

4.1        Market Definition

4.1.1     Inclusions

4.1.2     Exclusions

4.1.3     Market Estimation Caveats

4.2        Base Year

4.3        Scope of the Study

4.3.1     Market Segmentation by Field of Study

4.3.2     Market Segmentation by Technology

4.3.3     Market Segmentation by Patient Type

4.3.4     Market Segmentation by Geography

 

5           Report Assumptions & Caveats

5.1        Key Caveats

5.2        Currency Conversion

5.3        Market Derivation

 

6           Market at a Glance

7           Introduction

7.1        Overview

7.2        Esoteric Testing in COVID-19

 

          Market Opportunities & Trends

8.1        Automation of Laboratory Testing

8.2        Growing Use of Companion Diagnostics for Therapy Selection

8.3        Increasing Use of Genetic Counseling

 

          Market Growth Enablers

9.1        Inclination Toward Personalized Medicine

9.2        Increasing Focus on Risk Assessment & Predisposition

9.3        Growing Technological Advancements

 

10         Market Growth Restraints

10.1      Less Performed Tests & High Cost

10.2      Social, Legal, & Ethical Implications of Genetic Testing

 

11         Market Landscape

11.1      Market Overview

11.2      Market Size & Forecast

11.3      Five Forces Analysis

11.3.1  Threat of New Entrants

11.3.2  Bargaining Power of Suppliers

11.3.3  Bargaining Power of Buyers

11.3.4  Threat of Substitutes

11.3.5  Competitive Rivalry

 

12         Field of Study

12.1      Market Snapshot & Growth Engine

12.2      Market Overview

12.3      Genetics

12.3.1  Market Overview

12.3.2  Market Size & Forecast

12.4      Immunology

12.4.1  Market Overview

12.4.2  Market Size & Forecast

12.5      Oncology

12.5.1  Market Overview

12.5.2  Market Size & Forecast

12.6      Infectious Diseases

12.6.1  Market Overview

12.6.2  Market Size & Forecast

12.7      Endocrinology

12.7.1  Market Overview

12.7.2  Market Size & Forecast

12.8      Others

12.8.1  Market Overview

12.8.2  Market Size & Forecast

 

13         Technology

13.1      Market Snapshot & Growth Engine

13.2      Market Overview

13.3      Immunoassay

13.3.1  Market Overview

13.3.2  Market Size & Forecast

13.4      RT-PCR

13.4.1  Market Overview

13.4.2  Market Size & Forecast

13.5      LC-MS/MS

13.5.1  Market Overview

13.5.2  Market Size & Forecast

13.6      Flow Cytometry

13.6.1  Market Overview

13.6.2  Market Size & Forecast

13.7      Gene Sequencing

13.7.1  Market Overview

13.7.2  Market Size & Forecast

13.8      Others

13.8.1  Market Overview

13.8.2  Market Size & Forecast

 

14         Patient Type

14.1      Market Snapshot & Growth Engine

14.2      Market Overview

14.3      Inpatient Testing

14.3.1  Market Overview

14.3.2  Market Size & Forecast

14.4      Outpatient Testing

14.4.1  Market Overview

14.4.2  Market Size & Forecast

 

15         Competitive Landscape

15.1      Competition Overview

15.2      Market Share Analysis

15.2.1  Labcorp

15.2.2  Quest Diagnostics

 

16         Key Company Profiles

16.1      Laboratory Corporation of America Holdings

16.1.1  Business Overview

16.1.2  Laboratory Corporation of America Holdings in Esoteric Testing Market

16.1.3  Product Offerings

16.1.4  Key Strategies

16.1.5  Key Strengths

16.1.6  Key Opportunities

16.2      Quest Diagnostics Incorporated

16.2.1  Business Overview

16.2.2  Quest Diagnostics in Esoteric Testing Market

16.2.3  Service Offerings

16.2.4  Key Strategies

16.2.5  Key Strengths

16.2.6  Key Opportunities

16.3      BioReference Laboratories

16.3.1  Business Overview

16.3.2  BioReference Laboratories in Esoteric Testing Market

16.3.3  Product Offerings

16.3.4  Key Strategies

16.3.5  Key Strengths

16.3.6  Key Opportunities

16.4      Eurofins Scientific

16.4.1  Business Overview

16.4.2  Eurofins Scientific in Esoteric Testing Market

16.4.3  Service Offerings

16.4.4  Key Strategies

16.4.5  Key Strengths

16.4.6  Key Opportunities

16.5      Mayo Clinic Laboratories

16.5.1  Business Overview

16.5.2  Mayo Clinic Laboratories in Esoteric Testing Market

16.5.3  Service Offerings

16.5.4  Key Strategies

16.5.5  Key Strengths

16.5.6  Key Opportunities

16.6      Sonic Healthcare Limited

16.6.1  Business Overview

16.6.2  Sonic Healthcare in Esoteric Testing Market

16.6.3  Service Offerings

16.6.4  Key Strategies

16.6.5  Key Strengths

16.6.6  Key Opportunities

 

17         Other Prominent Vendors

17.1      Myriad Genetics, Inc.

17.1.1  Business Overview

17.1.2  Service Offerings

17.2      Arup Laboratories

17.2.1  Business Overview

17.2.2  Service Offerings

17.3      South Bend Medical Foundation

17.3.1  Business Overview

17.3.2  Service Offerings

17.4      Capstone Healthcare, LLC

17.4.1  Business Overview

17.4.2  Service Offerings

17.5      Bioagilytix Labs

17.5.1  Business Overview

17.5.2  Service Offerings

17.6      Biological Laboratory, Inc.

17.6.1  Business Overview

17.6.2  Service Offerings

 

18         Report Summary

18.1      Key Takeaways

18.2      Strategic Recommendations

19         Quantitative Summary

19.1      Market by Field of Study

19.2      Market by Technology

19.3      Market by Patient Type

 

20         Appendix

20.1      Abbreviations

             

             

 

List of Exhibits     

Exhibit 1             Segmentation of US Esoteric Testing Market

Exhibit 2             Market Size Calculation Approach 2020

Exhibit 3             Esoteric Testing Market in US by Field of Study 2020 (%)

Exhibit 4             Esoteric Testing Market in US by Technology 2020 (%)

Exhibit 5             Esoteric Testing Market in US by Patient Type 2020 (%)

Exhibit 6             Impact of Automation of Laboratory Testing

Exhibit 7             Benefits of Automation in Laboratory Testing

Exhibit 8             Impact of Growing Use of Companion Diagnostics for Therapy Selection

Exhibit 9             Impact of Increasing Use of Genetic Counseling

Exhibit 10           Impact of Inclination Toward Personalized Medicine

Exhibit 11           Impact of Increasing Focus on Risk Assessment & Predisposition

Exhibit 12           Impact of Growing Technological Advancements

Exhibit 13           Impact of Less Performed Tests & High Cost

Exhibit 14           Impact of Social, Legal, & Ethical Implications of Genetic Testing

Exhibit 15           Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 16           Esoteric Testing Market in US by Field of Study

Exhibit 17           Esoteric Testing Market in US by Technology

Exhibit 18           Esoteric Testing Market in US by Patient Type

Exhibit 19           Five Forces Analysis 2020

Exhibit 20           Incremental Growth by Segment 2020 & 2026

Exhibit 21           Esoteric Testing Market in US by Field of Study

Exhibit 22           US Esoteric Testing Market by Field of Study: Incremental Growth ($ million)

Exhibit 23           US Esoteric Testing Market by Field of Study: Absolute Growth (%)

Exhibit 24           US Esoteric Testing Market by Genetics: Incremental & Absolute Growth

Exhibit 25           Genetic Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 26           US Esoteric Testing Market by Immunology: Incremental & Absolute Growth

Exhibit 27           Immunology Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 28           US Esoteric Testing Market by Oncology: Incremental Growth & Absolute Growth

Exhibit 29           Oncology Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 30           US Market by Infectious Diseases: Incremental Growth & Absolute Growth

Exhibit 31           Infectious Disease Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 32           US Endocrinology Esoteric Testing Market: Incremental Growth & Absolute Growth

Exhibit 33           Endocrinology Esoteric Testing Market in US by 2020–2026 ($ million)

Exhibit 34           Other Esoteric Testing Market in US: Incremental Growth & Absolute Growth

Exhibit 35           Other Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 36           Incremental Growth by Technology 2020 & 2026

Exhibit 37           US Esoteric Testing Market by Technology

Exhibit 38           US Esoteric Testing Market by Technology: Incremental Growth ($ million)

Exhibit 39           US Esoteric Testing Market by Technology: Absolute Growth (%)

Exhibit 40           US Immunoassay Esoteric Testing Market: Incremental Growth & Absolute Growth

Exhibit 41           Immunoassay Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 42           US RT-PCR Esoteric Testing Market: Incremental Growth & Absolute Growth

Exhibit 43           RT-PCR Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 44           US LC-MS/MS Esoteric Testing Market: Incremental Growth & Absolute Growth

Exhibit 45           LC-MS/MS Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 46           US Flow Cytometry Esoteric Testing Market: Incremental Growth & Absolute Growth

Exhibit 47           Flow Cytometry Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 48           US Gene Sequencing Esoteric Testing Market: Incremental Growth & Absolute Growth

Exhibit 49           Gene Sequencing Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 50           US Other Technology Esoteric Testing Market: Incremental Growth & Absolute Growth

Exhibit 51           Other Technology Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 52           Incremental Growth by Patient Type 2020 & 2026

Exhibit 53           US Esoteric Testing Market by Patient Type

Exhibit 54           US Esoteric Testing Market by Site of Testing: Incremental Growth ($ million)

Exhibit 55           US Esoteric Testing Market by Site of Testing: Absolute Growth (%)

Exhibit 56           US Inpatient Esoteric Testing Market: Incremental Growth & Absolute Growth

Exhibit 57           Inpatient Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 58           US Outpatient Esoteric Testing Market: Incremental Growth & Absolute Growth

Exhibit 59           Outpatient Esoteric Testing Market in US 2020–2026 ($ million)

Exhibit 60           Market Share (2020)

Exhibit 61           Laboratory Corporation of America Holdings: Total Revenue 2018-2020 ($ billion)

Exhibit 62           Quest Diagnostics: Total Revenue 2018–2020 ($ billion)

Exhibit 63           Quest Diagnostics: Revenue by Service 2020 ($ million)

Exhibit 64           BioReference Laboratories: Total Revenue 2018–2020 ($ million)

Exhibit 65           Eurofins Scientific: Total Revenue 2018– 2020 ($ billion)

Exhibit 66           Eurofins Scientific: Total Revenue by Region 2020 ($ billion)

Exhibit 67           Sonic Healthcare: Total Revenue 2018-2020 ($ billion)

 

List of Tables 

Table 1               Key Caveats

Table 2               Currency Conversion 2013−2020

Table 3               Competitive Structure Analysis of Esoteric Testing Market in US

Table 4               Laboratory Corporation of America Holdings: Major Product Offerings

Table 5               Quest Diagnostics: Major Service Offerings

Table 6               BioReference Laboratories: Major Product Offerings

Table 7               Eurofins Scientific: Major Service Offerings

Table 8               Mayo Clinic Laboratories: Major Service Offerings

Table 9               Sonic Healthcare: Major Service Offerings

Table 10             Myriad Genetics, Inc: Major Service Offerings

Table 11             ARUP Laboratories: Major Service Offerings

Table 12             South Bend Medical Foundation: Major Service Offerings

Table 13             Capstone Healthcare: Major Service Offerings

Table 14             BioAgilytix Labs: Major Service Offerings

Table 15             Biological Laboratory, Inc.: Major Service Offerings

Table 16             US Esoteric Testing Market by Field of Study 2020–2026 ($ million)

Table 17             US Esoteric Testing Market by Field of Study 2020–2026 (%)

Table 18             US Esoteric Testing Market by Technology 2020–2026 ($ million)

Table 19             US Esoteric Testing Market by Technology 2020–2026 (%)

Table 20             US Esoteric Testing Market by Patient Type 2020−2026 ($ million)

Table 21             US Esoteric Testing Market by Patient Type 2020−2026 (%)

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