U.S. Esoteric Testing Market to Observe Exponential Growth By 2021-2027

According to the Market Statsville Group (MSG), the U.S. esoteric testing market size is estimated to grow USD 9.5 billion by 2030 from USD 5.7 billion in 2021, at a CAGR of 6.7from 2022 to 2030There is high health awareness among the population in the US, and therefore, outpatient esoteric testing is common. Esoteric tests are being widely used because of their growing use in treating severe diseases such as cancer and genetic disorders and aggressive sales and marketing strategies followed by vendors in the esoteric testing market.

Advancements in technology have been driving the field of clinical diagnostics. Technology allows large-scale operations in clinical laboratories through the automation of diagnostic tests. It has also helped minimize the time required to perform a particular test. While using the conventional laboratory-scale methods, there is a high chance of errors termed as human errors, i.e., errors caused by human limitations. By using technology in laboratory operations, the chances of errors have been minimized.

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Definition of Esoteric Testing Market

Esoteric testing includes testing of rare substances or molecules and is not performed during routine testing. It requires highly skilled professionals and advanced and sophisticated equipment. They are primarily performed in referenced laboratories where the sample is either sent by the physician or hospital (inpatient testing) or by the patient himself (outpatient testing).

U.S. Esoteric Testing Market Covid-19 Impact

The US is the worst-hit country regarding COVID-19 infection, reporting almost 32.8 million cases in May 2021. The country also reported 583 thousand deaths because of the pandemic. The pandemic affected the population and industries, including the clinical diagnostic industry. The pace of mergers and acquisition activities slowed down in the clinical diagnostics and esoteric testing industry. Several segments of routine laboratory testing and esoteric testing reported a decline in revenue because of the shift in focus toward managing the COVID-19 infection. Most of the esoteric testing market vendors, such as Quest Diagnostics, LabCorp, and BioReference Laboratories, focused on providing testing services for COVID-19. To improve access to COVID-19 testing throughout the country, companies collaborated.

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For instance, Quest collaborated with CVS Health, Walmart, and others to improve access to their COVID-19 testing menu. BioReference supported sports organizations in managing the COVID-19 infection. The outpatient testing segment in the esoteric testing market grew exponentially as the pandemic forced people to stay at home. The esoteric testing market in the US has been impacted positively because of the pandemic and is expected to witness growth during the forecast period.

U.S. Esoteric Testing Market Dynamics

DriversInclination Toward Personalized Medicine

Precision medicines and personalized medicines are witnessing increased usage in the healthcare sector. Precision medicine is the practice of administering the right medicine to the right patient at the right time. On the other hand, personalized medicines provide medicine that is tailored specifically for a certain patient. The idea of precision medicine was facilitated by pharmaceutical companies performing research and development at the molecular and genetic levels to understand a person’s susceptibility to various diseases.

RestraintsLess Performed Tests & High Cost

Esoteric testing is a part of clinical diagnostic services to perform diagnostic tests for rare diseases and rare substances or molecules. They are not performed in regular clinical laboratories. It is low-volume testing only performed with a prescription or consultation with a physician to identify cancer and genetic disorders. To perform esoteric tests, one requires a highly skilled and qualified medical professional who can handle advanced diagnostic equipment. The equipment used for performing the esoteric testing is based on various analytical and diagnostic technologies such as chemiluminescence immunoassay (CLIA), and enzyme-linked immunosorbent assay (ELISA), RT-PCR, LC-MS/MS, flow cytometry, liquid biopsy, gene sequencing, and radioimmunoassay.

OpportunitiesGrowing use of Companion Diagnostics for Therapy Selection

Companion diagnostics identify a genetic or proteomic change, such as a change in a single gene or expression of a protein or its structure. They are very useful in clinical trials to gather test groups to produce results with maximum efficacy. In clinical trials, companion diagnostics help identify patients who would benefit the most from a particular therapeutic product and patients at risk of suffering from severe side effects. It also helps in monitoring the response to a specific treatment to get maximum safety and efficacy.

U.S. Esoteric Testing Market Segment

The study categorizes the U.S. esoteric testing market based on type, technology, and patient type.

By Type Outlook (Sales, USD Million, 20172030)

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

By Technology Outlook (Sales, USD Million, 20172030)

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

By Patient Type Outlook (Sales, USD Million, 20172030)

  • Inpatient Testing
  • Outpatient Testing

The infectious disease segment is projected to account for the largest market share, by type

Based on the type, the market is segmented into infectious disease, endocrinology, oncology, immunology, genetics, and others. In 2020, the infectious disease segment dominated the market with a market share of 27.50% in the US esoteric testing market. The increasing interest in the field of microbiology is a result of the rising incidence of infectious diseases. Infectious diseases are a result of pathogens that are of microscopic size. It includes pathogens such as bacteria, viruses, and protozoans.

These pathogens cause diseases either by disrupting the bodily functions or by stimulating the host’s immune system to produce a defensive immune response, causing fever and inflammation. Infectious diseases can easily spread through various mediums such as food, water, and air. Such contamination usually happens when a healthy person meets the infected person, and the infection spreads through air or contact. These diseases can also spread through other organisms such as mosquitoes, rats, and bats referred to as vectors.

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Key Market Players in the U.S. Esoteric Testing Market

Major competitors in the U.S. esoteric testing market are:

  • Laboratory Corporation of America
  • Mayo Medical Laboratories
  • Opko Health Company
  • Invitae
  • Myriad Genetics
  • Miraca Holdings Inc
  • Genomic Health
  • Fulgent Genetics Inc

Market competition is high and is mainly driven by technological advancements and collaborations with healthcare facilities and physicians. Highly competitive, majorly dominated by the market leaders. There is a need to continuously update the testing catalog by adding newer tests. LabCorp or the Laboratory Corporation of America Holdings is a leading life science company that provides diagnostic and drug development services. LabCorp operates under two segments as LabCorp Diagnostics and LabCorp Drug Development. The diagnostics segment is aimed at providing diagnostic services through its clinical laboratories.

Recent Developments

  • In 2020 Quest Diagnostics acquired Blueprint Genetics, the outreach laboratory services of Memorial Hermann Health System, and acquired the remaining 56% interest in Mid America Clinical Laboratories, LLC.
  • In 2019, Sonic Healthcare acquired Aurora Diagnostics, which increased the company’s presence in the anatomical pathology market in the US.

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Market Statsville Group (MSG) partners with companies and society to confront their essential risks and challenges to capture the enormous opportunities for them. MSG initiated its work in 2017, and since then, the brand is moving to become a pioneer in business advisory and market research services.

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