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

21 Tables

67 Charts

1 Regions

1 Countries

12 Companies

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

U.S. esoteric testing market to reach over USD 8010.66 million by 2026.
The United States market to grow at a CAGR of around 7% during the forecast period.
Quest Diagnostics, LabCorp, BioReference Laboratories, Eurofins Scientific, Mayo Clinic Laboratories, Sonic Healthcare are the key players in the U.S. market.
Technology advancement and automation are some of the upcoming trends in the industry.
In 2020, LC-MS acquired a share of over 23% in the US esoteric testing market.
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