Portland, OR, August 24, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the Esoteric Testing Market was estimated at $ 20.21 billion in 2020 and is expected to reach $ 66.21 billion by 2030, registering a CAGR of 12.5% ââfrom 2021 to 2030. The report provides in-depth analysis of the major pockets of investment, best winning strategies, drivers and opportunities, market size and estimates, competitive scenario and hesitant market trends.
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The increase in the prevalence of chronic, infectious and genetic diseases, the increase in demand for ELISA and RT-PCR tests, the increase in the number of medical laboratories and the awareness of individuals on the early detection of diagnosis and drugs customized products are fueling the global esoteric testing market. On the other hand, the high cost of esoteric testing and the lack of qualified professionals and laboratory technicians hamper growth to some extent. However, the upsurge in technological advancements in esoteric testing is expected to create lucrative opportunities in the industry.
- The outbreak of the pandemic has given way to an increase in demand for real-time polymerase chain reaction (RT-PCR) testing to detect COVID-19, thus positively impacting the global esoteric testing market.
- This trend is likely to continue until the virus is completely gone.
The global esoteric testing market is analyzed by type, technology, end user, and region. On the basis of type, the infectious disease testing segment held the bulk in 2020, accounting for over a fifth of the total market. The genetic testing segment, however, would cite the fastest CAGR of 14.40% during the forecast period.
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By technology, the chemiluminescence immunoassay segment accounted for about a quarter of total market revenue in 2020 and is expected to maintain its dominance through 2030. The DNA sequencing segment, meanwhile, is expected to grow. the fastest CAGR of 15.40%. from 2021 to 2030.
Based on region, the North American market contributed the bulk in 2020, holding nearly three-fifths of the global esoteric testing market. Asia-Pacific region to see growth Fastest CAGR of 13.40% from 2021 to 2030. Other provinces studied in the report include Europe and LAMEA.
Leading market players analyzed in the Global Esoteric Testing Market report include Baylor Esoteric and Molecular Laboratory, Sonic Healthcare Limited, Healius Limited, Foundation Medicine, Laboratory Corporation, Mayo Foundation for Medical Education and Research, ARUP Laboratories, OPKO Health, Stanford Clinical Pathology, and Quest Diagnostics. These market players have integrated several strategies, including partnership, expansion, collaboration, joint ventures and others, to strengthen their position in the industry.
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We’ve also posted some syndicated market research in the same area that you might be interested in. Below is the title of the report for your reference, considering the impact of Covid-19 on this market, which will help you assess the aftermath of the pandemic on the short and long term growth trends of this market. Marlet.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of âmarket research reportsâ and âbusiness intelligence solutionsâ. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Allied market research CEO Pawan Kumar is essential in inspiring and encouraging everyone associated with the business to maintain high quality data and to help customers in every way possible to be successful. Each of the data presented in the reports we publish is extracted through primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.