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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
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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?
What is the growth rate of the United States esoteric testing market?
Who are the key players in the esoteric testing market?
What are the upcoming trends in the esoteric testing market?
Which technology segment dominated the esoteric testing industry in 2020?
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
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 (%)
1 Research Methodology
2 Research Objectives
3 Research Process
4 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
8 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
9 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
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Frequently Asked Questions
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