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    North America Esoteric Testing Market Forecast 2028 By Test Type (Endocrinology, Infectious Disease & Immunology, Oncology, Toxicology, Neurology, Genomics), By Technology (Mass Spectrometry, Flow Cytometry, ELISA, Radioimmunoassay, Chemiluminescence, RT-PCR), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: October 2022   |   Report ID: GR1172   |   Delivery: PDF  Request Free Sample

    North America Esoteric Testing Market size exceeded USD 10 billion in 2021 and is projected to expand at 11% CAGR from 2022 to 2028. Rising prevalence of rare, infectious, chronic, and genetic diseases, along with increasing awareness regarding early disease diagnosis are some key factors driving the market demand.

    North America Esoteric Testing Market

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    The American Cancer Society states that over 20% of cancer patients are diagnosed with a rare cancer form. With features such as low detection limits, high-performance levels, specificity, good precision, and strong signal intensity, esoteric testing allows the analysis of rare molecules in the body. The increasing need to diagnose such rare and complex disorders is likely to fuel esoteric testing adoption in North America.

    Impact of COVID-19 outbreak on North America esoteric testing industry outlook

    The outbreak of the pandemic significantly fueled the demand for real-time polymerase chain reaction (RT-PCR) tests to detect COVID-19, thereby impacting esoteric testing market positively. In the future years, with the rising threat of infectious diseases, the global healthcare industry is on the lookout for modern solutions.

    As per the World Economic Forum (WEF), infectious diseases topped the global risks chart in 2021. On the other hand, the lack of skilled professionals and the high cost of esoteric testing may impede market growth to some extent. However, technological advancement in esoteric testing is expected to create lucrative opportunities in the industry.

    North America Market, By Test Type

    The infectious disease & immunology test type segment will surpass USD 6 billion revenue by 2028, due to the growing pervasiveness of communicable diseases in the U.S. Chlamydia, influenza A and B, staph, and E. coli are considered some of the most common contagious diseases prevailing in the region.

    Nearly 3% to 11% of U.S. population is affected by Influenza A & B each year. To cater to the treatment needs of this growing patient pool, the region is actively investing in the development and procurement of advanced disease diagnostic options, such as esoteric testing.

    North America Esoteric Testing Market, By Technology

    The ELISA technology segment will grow at 11.5% CAGR through 2028. It offers high sensitivity in the detection of antigens and antibodies. Enzyme-linked immunosorbent assay (ELISA) technology allows the testing of a diverse set of antigens for the diagnosis of a spectrum of diseases. These antigens include peptides, proteins, nucleic acids, herbicides, hormones, and plant secondary metabolites. Other prominent features of the technology include safety and eco-friendliness, high specificity, and simple procedure.

    North America Market, By Country

    Adoption of cutting-edge technologies along with a well-established healthcare infrastructure will bolster the U.S. esoteric testing market demand. Hospitals and clinics across the region are increasingly adopting esoteric testing to effectively diagnose and treat a rapidly growing patient pool. The presence of major companies operating in the region, that offer advanced and quality esoteric testing services. A wide prevalence of unhealthy eating and drinking habits have left a substantial portion of the nation’s people with chronic disorders, warranting the need for early disease diagnostics.

    Competitive Industry Landscape

    Some of the leading companies operating in the North America esoteric testing market include Laboratory Corporation of America, Quest Diagnostics, Opko Health, and Myriad Genetics. Mergers and acquisitions, new product development, partnerships, collaborations, and geographical expansion are some of the business strategies adopted by industry majors to gain a larger market share.

    Quoting an instance from December 2021, market leader Laboratory Corporation of America acquired Personal Genome, a leading developer of cancer genome testing products in a deal worth over USD 500 million. With this acquisition, the company can use Personal Genome’s bioinformatics to identify tumor mutations in complex cancer genomes. It enabled drug developers, oncology researchers, clinicians, and patients to address cancer-related genetic changes with accuracy.

    Frequently Asked Question(FAQ) :

    What is the value of North America esoteric testing industry?
    The market for esoteric testing in North America was valued at over USD 10 billion in 2021 and is projected to grow with a CAGR of more than 11% over 2022-2028.
    Why is the need for infectious disease & immunology esoteric tests growing?
    The industry share for esoteric testing in North America from infectious diseases & immunology tests will be more than USD 6 billion by 2028, with increasing threat of communicable diseases spread, including Chlamydia, influenza A and B, staph, and E. coli.
    Which factors are driving U.S. esoteric testing market growth?
    Increasing occurrence of rare illnesses, such as the Ehlers Danlos syndrome and mitochondrial diseases, is boosting the adoption of esoteric testing in the U.S.
    Which companies provide esoteric testing products in North America?
    Laboratory Corporation of America, Quest Diagnostics, Opko Health, and Myriad Genetics are counted among the leading esoteric testing companies operating in the market.

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