The Esoteric testing market is expected to grow from US$ 25,976.97 million in 2022 to US$ 79,777.20 million by 2030; the market is estimated to record a CAGR of 15.1% from 2022 to 2030.

The report highlights prevailing trends and factors driving the market growth. The market growth is attributed to the rising prevalence of chronic diseases and growing awareness of early detection of medical conditions, which drive the esoteric testing market's size and growth. Additionally, advancements in genetic testing and rare disease-related initiatives by regulatory authorities is likely to emerge as a significant trend in the market during the forecast period. However, the lack of skilled personnel and high procedure costs hinder market growth during the forecast period 2022-2030.

Growing Awareness of Early Detection of Medical Conditions drives the market in the forecast period.

The early diagnosis of diseases helps medical professionals and patients make various important medical decisions regarding care, support needs, and financial and legal matters. Obtaining accurate and early diagnosis after noticing cognitive symptoms related to a specific medical condition results in reversing symptoms before they are aggravated, followed by an effective and early treatment of patients. It also provides healthcare professionals sufficient time for better decision-making. Laboratory examination procedures are widely performed to diagnose diseases associated with medical specialties, such as neurological, genetic, cancer, and endocrinological disorders. Esoteric testing and genetic testing are performed for the diagnosis of diabetes, cardiovascular disease, lipid disorders, cancer, and genetic diseases.

Various government regulatory bodies also take initiatives and conduct campaigns to promote early diagnosis practices. The National Organization for Rare Disorders aims to identify, diagnose, and treat rare disorders through numerous supportive programs, including education, research, advocacy, and patient services. The New York State Rare Disease Workgroup, created in response to legislation passed in New York State (Article 27-L of the Public Health Law), aims to identify best practices that could enhance the awareness of rare diseases. Through such initiatives, people potentially having rare diseases can be referred to specialists, and barriers to their treatments, including financial challenges, can be addressed. Such initiatives to build knowledge regarding available diagnosis options for complex genetic and non-genetic rare disorders favor the growth of the esoteric testing market.

Report Segmentation and Scope -

The "Esoteric testing market" is segmented on the basis of type, technology, and end user. The market is segmented based on type into infectious disease testing, endocrinology testing, oncology testing, toxicology testing, immunology testing, neurology testing, and others. Regarding technology, the esoteric testing market is divided into chemiluminescence immunoassay, enzyme-linked immunosorbent assay, mass spectrometry, real-time PCR, DNA sequencing, flow cytometry, and others. In terms of end user, the market is categorized into hospitals and laboratories and independent and reference laboratories.

The esoteric testing market, by type, is segmented into infectious disease, endocrinology, oncology, toxicology, immunology, neurology, and others. The oncology testing segment held the largest market share in 2022. The infectious disease testing segment is expected to register the highest CAGR from 2022 to 2030.

On the basis of technology, the esoteric testing market is categorized into chemiluminescence immunoassay, enzyme-linked immunosorbent assay, mass spectrometry, real-time PCR, DNA sequencing, flow cytometry, and others. The chemiluminescence immunoassay segment held the largest market share in 2022. The enzyme-linked immunosorbent assay segment is anticipated to register the highest CAGR of 18.7% during 2022-2030.

Based on end user, the esoteric testing market is segmented into hospitals, laboratories, and independent and reference laboratories. The hospitals and laboratories segment held a larger market share in 2022. It is further expected to register a higher CAGR of 15.2% during 2022-2030.

Esoteric tests are generally performed to analyze rare and unique substances not concluded in regular tests. To perform these tests, clinical laboratories require expertise in relevant specialties. Therefore, large commercial laboratories outsource these complex tests to reference and esoteric testing laboratories. A few of the labs performing esoteric testing in the US include Quest Diagnostics Incorporated, Mayo Medical Laboratories, ARUP Laboratories, Myriad Genetics, Genomic Health, Foundation Medicine, and Laboratory Corporation of America. The number of laboratories that have the capability to perform these specialized tests is increasing in the region.

As per an article by the Endocrine Society, published in January 2022, hypogonadism is a common condition in the male population, with a higher prevalence in older men, obese men, and men with type 2 diabetes. 35% of men older than 45 years of age and 30-50% of men with type 2 diabetes or obesity are estimated to have hypogonadism. Moreover, as per the US Census Bureau's estimation, the incidences of hypogonadism in men aged 65 years and more grew from ~35 million in 2000 to ~55 million by 2020. Further, it is estimated to rise to ~87 million by 2050. The surging prevalence of this condition is due to the rise in the geriatric population in the US.

Thus, the burgeoning cases of hypogonadism, hepatic cirrhosis, and other such disease is driving the growth of the esoteric testing market in the US.

The American Heart Association, The American Thyroid Association, The United States Food and Drug Administration (FDA), MyBioSource.com., The Endocrine Society, National Institutes of Health (NIH) are a few of the major primary and secondary sources referred to while preparing the report on the Esoteric testing market.