Esoteric Testing Market share to Surge at a Robust Pace in Terms of Revenue Over Forecast Period

Market Highlights

Factors such as the increasing prevalence of chronic diseases and rising therapeutics demand are estimated to drive the market growth during the forecast period. Additionally, advancements in diagnostic and treatment technologies boost the market. Furthermore, esoteric testing is generally outsourced from reference laboratories or independent laboratories and is not cost-effective. However, low awareness and lack of healthcare services in the middle and low-income countries are estimated to restrain the market growth during the projected period.

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Regional Analysis

The Americas dominates the global esoteric testing market owing to the increasing prevalence of chronic diseases and presence of a well-developed healthcare sector within the region. Moreover, the increasing healthcare expenditure, growing geriatric population, and presence of key players within the regional boundaries provide a favorable background for the market growth.

Europe is the second largest in the global esoteric testing market share. Factors such as the increasing availability of funds for research and a huge patient population followed by a well-developed healthcare sector drive the market within the region.

Asia Pacific is estimated to be the fastest growing market for esoteric testing. This can be attributed to the presence of developing economies such as India and China and the increasing patient population. Moreover, the increasing healthcare expenditure and a rapidly developing healthcare sector boost the market growth within the region.

On the other hand, the Middle East and Africa has the least share in the global esoteric testing market due to the low per capita healthcare expenditure and stringent government policies, especially within the African region. It is estimated that the Middle East holds a majority of the market within the Middle Eastern and African region.

Key Players

Some of the key players in this market are LabCorp (U.S.), Quest Diagnostics (U.S.), Invitae (U.S.), Spectra Laboratories (U.S.), Opko Health (U.S.), Miraca Holdings (Japan), Foundation Medicine (U.S.), ACM Global Laboratories (U.S.), Arup Laboratories (U.S.), Myriad Genetics (U.S.), Sonic Healthcare (Australia), Primary Health Care (Australia), Healthscope (Australia), Mayo Medical Laboratories (U.S.), Fulgent Genetics (U.S.), and others.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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