#2021 Esoteric Testing market

[kenresearchcompany]

Thailand Clinical Laboratory Industry Has Evolved Over the Years and Has Become a Critical Solution Provider: Ken Research

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Expanding healthcare spending by the Government, increasing healthcare spending by aging population and increasing public awareness led to the growth of the Clinical Laboratory Market in Thailand.

Thailand Clinical Laboratory Market Overview: The Clinical Laboratory Market in Thailand is currently at the growth stage and is a consolidated market. The market has been driven by growth in non-communicable disease and chronic diseases, increasing focus on preventive medicine, ageing population, increase in awareness levels, rising disposable income and preference for evidence based treatment. The Thailand Clinical Laboratory Market grew from 6.7% in 2017 to 12.3% in 2021 in terms of revenue generated, due to the growing demand for clinical laboratory services in the country.

Challenges Faced by Thailand Clinical Laboratory Market: In spite of the growing demand for diagnostic services, affordability remains a concern. Budget constraints from both public and private payers are pushing costs lower. The number of sample sales and test price are very competitive among both organized and unorganized businesses. Diagnostics facilities need to modify their technology frequently to maintain a competitive edge. However, these improvements not only require large construction expenditures but also raise maintenance expenses. This is essential, especially for smaller players with little resources. Lack of laboratory accountability for the services that they render, insufficient oversight of suppliers, consumables, supplies, and laboratory equipment in terms of price, commitments, and warranty support; are still very challenging issues.

Supportive Government Initiatives: Thailand’s reform places a heavy emphasis on improving a district health system that is pro-rural and pro-poor. To promote lab accreditation and restore consumer trust, the government has established national accreditation bodies such as the Thailand Laboratory Accreditation Program. The national accreditation program was established as a local alternative to make it affordable, feasible, scalable, sustainable, and effective. In 2008, Thailand’s Universal Coverage Scheme (UCS) was extended to include wider coverage. The UCS plan focuses on minorities and the poor and near-poor, with the aim of offering the most comprehensive coverage possible. It includes extensive outpatient and inpatient health care, as well as prevention and health promotion, in addition to basic hospital fees.

Analysts at Ken Research in their latest publication “Thailand Clinical Laboratory Market Outlook to 2026F- Driven by current shortage, widening customer base, Government initiatives and increasing corporate requirements for clinical testing” by Ken Research observed that Thailand Clinical Laboratory Market is in the growing phase. Increasing healthcare spending by aging population, expanding healthcare spending by the Government and increasing public awareness are some of the factors that will contribute to the Thailand Clinical Laboratory Market growth over the period of 2022F-2026F. It is expected that Thailand Clinical Laboratory Market will grow at a CAGR of 9.5% for the above forecasted period.

Key Segments Covered

Thailand Clinical Laboratory Market:

By Independent Laboratory

Organized Labs

Unorganized Labs

By Payer

Private Health Insurance

Corporates

Out of Pocket

By Customers

Walk-Ins

Doctor Referrals

Corporate Clients

Online Bookings

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By Type of Tests

Routine

Esoteric

Non-Laboratory

By Type of Routine Tests

CBC (Complete Blood Count)

A1C

Basic Metabolic Panel

Others

By Type of Esoteric Tests

Infectious Disease

Endocrine

Allergic Disease

Oncology

Others

By Region

Bangkok

Nakhon Ratchasima

Samut Prakan

Ubon Ratchathani

Khon Kaen

Others

By Type of Laboratory in Private Hospitals

In-house Labs

Third Party Tie-Ups

Key Target Audience

Clinical Laboratory companies

Organized Clinical Laboratories

Unorganized Clinical Laboratories

Private Hospitals

Private Equity and Venture Capitalist

Industry Associations

Technology providers

Government Bodies & Regulating Authorities

Time Period Captured in the Report:

Historical Period: 2016-2021

Base Year: 2021

Forecast Period: 2022F– 2026F

Companies Covered:

Organized Labs

N Health

Pathlab

Thonburi Clinical Labs

Bangkok Medical Labs

BRIA Group

MIC Labs

Unorganized Labs

Medical Line Lab

Innotech Laboratories

Service Co., Ltd.Innolab

Prolab 

Pattaya Clinic Laboratory

CCS Medical laboratory

Excellent Pathological

Lab Company Limited

DNA Testing Laboratory Co.,Ltd.

Pathology Diagnostic Center

Ubon Pathology

Rachvipa MRI Company Limited

hi-tech lab

Bangkok Pathology-Lab

Inter-Lab Pathology and Research Center

Key Topics Covered in the Report

Thailand Clinical Laboratory Market Overview

Thailand Healthcare Overview

Ecosystem of Thailand Clinical Laboratory Market

Thailand Clinical Laboratory Market Segmentation

Industry Analysis of Thailand Clinical Laboratory Market

Value Chain of Clinical Laboratory Market in Thailand

Key Growth Drivers in Thailand Clinical Laboratory Market

End User Analysis of Thailand Clinical Laboratory Market

Key Challenges of Thailand Clinical Laboratory Market

SWOT Analysis of Thailand Clinical Laboratory Industry

Future Outlook of Thailand Clinical Laboratory Industry

Trends and Development of Thailand Clinical Lab Market

COVID-19 Impact on Clinical Laboratory Market in Thailand

For more information on the research report, refer to below link:

Thailand Clinical Laboratory Market Outlook to 2026F

Related Reports

Philippines Clinical Laboratory Market Outlook to 2027F

Indonesia Clinical Laboratory Market Outlook to 2026F (Second Edition)

Vietnam Clinical Laboratory Market Outlook to 2022 

[univdatosmarket]

Esoteric Testing Market was valued at US$ 16 billion in 2020 and is expected to grow at a CAGR of 12% over the forecast period (2021-2027)

[globalinsightsservices]

Esoteric Testing Market to Witness Growth Acceleration During 2021-2033

Market Definition

Esoteric Testing involves the laboratory examination of uncommon molecules and substances that is not often done in a clinical laboratory. These tests are carried out when a doctor needs more comprehensive information regarding the patient’s health. To assess the outcome, a sophisticated device, materials, and specialist are needed.

Market Dynamics

The global esoteric testing market was valued at USD 21.4 billion in 2022 and it is anticipated to grow further up to USD 62.9 billion by 2032, at a CAGR of 11.4% during the forecast period.

To Know More@ https://www.globalinsightservices.com/reports/esoteric-testing-market/

Market Trends and Drivers

The growing geriatric population coupled with the increasing prevalence of chronic and infectious diseases and advancing esoteric DNA sequencing technologies in precision medicine, early diagnosis of cancer, and precision medicine are boosting the growth of the market. Globally, chronic diseases including diabetes, heart disease, and cancer are on the rise. Infectious disease prevalence is also rising at an alarming rate and includes diseases like Dengue, Hepatitis B, C, HIV, Malaria, Tuberculosis, and others. The knowledge of esoteric testing for the quick and accurate detection of certain disorders is growing. Esoteric tests’ improving technology is providing quicker results with improved sensitivity, detection limits, and efficacy. The market is expanding as a result of the rising use of esoteric DNA sequencing, NGS technologies, and whole genome sequencing in the early diagnosis of cancer, precision medicine, and personalized medicine.

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Research Objectives

Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region

Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling

Identify factors influencing market growth and challenges, opportunities, drivers and restraints

Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates

Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities

Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market

To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.

Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives

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Global Esoteric Testing Market Segmentation:

By Type

Infectious Diseases Testing

Endocrinology Testing

Oncology Testing

Genetics Testing

Toxicology Testing

Immunology Testing

Neurology Testing

Others

By Technology

Chemiluminescence Immunoassay

Enzyme-Linked Immunosorbent Assay

Mass Spectrometry

Real-Time PCR

DNA Sequencing

Flow Cytometry

Others

By End User

Independent & Reference Laboratories

Hospital Based Technologies

Research Scope

Scope – Highlights, Trends, Insights. Attractiveness, Forecast

Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others

Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain

Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments

Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis

Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.

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With Global Insight Services, you receive:

10-year forecast to help you make strategic decisions

In-depth segmentation which can be customized as per your requirements

Free consultation with lead analyst of the report

Infographic excel data pack, easy to analyze big data

Robust and transparent research methodology

Unmatched data quality and after sales service

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About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

[kenresearchreport]

US Esoteric Testing Market expected to reach $11.5 Bn by 2028

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As the elderly population in United States increases, along with an increasing need for early diagnosis & treatment, the esoteric testing is poised to record remarkable growth in the upcoming years

With an ever-evolving realm of healthcare, esoteric testing stands as a pioneering force revolutionizing personalized medicine in the United States. These specialized tests unravel genetic insights, driving personalized treatment strategies. The convergence of cutting-edge technology & advanced detection methods redefines disease management, especially crucial in the context of an aging population & the imperative of early detection.

Story Outline

According to Ken Research, the US Esoteric testing market is expected to reach $11.5 billion in 2028, owing to increasing aging population & rapid advancements in technology which is leading to increasing demand for esoteric testing solutions

With a rising elderly population vulnerable to complex health conditions, the demand for specialized testing is increasing. Esoteric tests offer early diagnosis opportunities, which gained even more significance in light of COVID-19 pandemic’s impact on healthcare dynamics.

Advanced technology, like Advanced Molecular Detection (AMD) is revolutionizing disease detection by combining genome sequencing & bioinformatics. It attracts healthcare providers & researchers to embrace esoteric tests for enhanced diagnostics

Esoteric tests are transforming personalized medicine by revealing genetic insights into susceptibility, treatment response & tailored care plans.

1. Esoteric Tests Revolutionizing Personalized Medicine in United States

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Esoteric tests play a crucial role in personalized medicine by providing detailed insights into an individual’s genetic makeup, susceptibility to diseases & treatment response.

In June 2022, few scientists at PACT Pharma, San Francisco, USA devised a personalized medicine plan where they used CRISPR-Ca9 non-viral precise genome editing to simultaneously knockout two endogenous T- cell receptor genes TRAC & TRBC, which will help in specifically recognizing mutations in cancer cells.

As personalized medicine continues to gain traction, the demand for esoteric tests that enabled treatment plans could drive market growth.

2. Advanced Technology & Esoteric Testing Lead the Way in Disease Detection

United States has been seeing advancements in the kind of technology being used, such as Advanced Molecular Detection (AMD) which integrates the latest next-generation genome sequencing technologies with bioinformatics & epidemiology experience across Center for Disease Control & Prevention (CDC) to find, track & stop disease causing pathogens like never before. Innovations like these could attract healthcare providers & researchers to utilize esoteric tests more frequently.

According to Ken Research, the US Esoteric testing market is expected to reach $11.3 billion in 2028, owing to increasing aging population & rapid advancements in technology which is leading to increasing demand for esoteric testing solutions

3. Elevating Care for Seniors: Surge in Esoteric Testing with Growing Elder Population

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In 2021, the United States population, more than 55.8 million aged people i.e., above 65 years old, reside in the United States. This population accounts for about 16.8% of the country’s population. As the older population increases, they become prone to chronic & complex health conditions that might require specialized testing for accurate diagnosis & monitoring. Therefore, as the elderly population increases, there is an increase in esoteric testing as well.

4. Pioneering Early Detection: Esoteric Tests Reshape Healthcare Amidst Pandemic Impact

There is an increasing focus on early detection & diagnosis in healthcare, these days since it improves patient outcomes & reduce healthcare costs. The COVID-19 pandemic has put an impact on the growth in esoteric testing market. In February 2021, Agilent Technologies Inc. launched the Agilent Dako SARS-CoV2 IgG CoV2 Enzyme-Linked Immunosorbent Assay (ELISA) to detect immunoglobin G (IgG) antibodies qualitatively to SARS-CoV2 in human serum or plasma.

Esoteric tests that enable early diagnosis of conditions like cancer, neurological disorders & cardiovascular diseases could see heightened demand.

5. Building Blocks of Success: Healthcare Upgrades Fueling Esoteric Testing Market Growth

Improvements in healthcare infrastructure, particularly in terms of laboratory facilities & testing capabilities, could contribute to the growth of the esoteric testing market. The revenue of laboratory testing services in United States has been growing at an annualized 3.1% over the past 5 years from 2018-23. Growth in research & development, spending from public & private sectors will benefit demand & growth in high tech companies will attract substantial R&D investments to develop & improve new products.

Conclusion

In a landscape shaped by innovation and demographic shifts, esoteric testing emerges as a pivotal force in revolutionizing healthcare. Personalized medicine gains impetus with insights into genetics, while advanced technologies & early detection reshape disease management.

 The elderly population’s rise fuels demand, emphasized by a pandemic related healthcare realm. Upgraded infrastructure and research synergies propel the esoteric testing market forward, paving the way for a future where precise diagnostics pave the road for improved patient outcomes & sustainable patient growth.

[trinitydigest]

Esoteric Testing Market Growing Demand to Impact Revenue Share during 2021-2026 | Labcorp (US), Quest Diagnostics (US) and OPKO Health Inc. (US)

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[columbianewsupdates]

Esoteric Testing Market Growing Demand to Impact Revenue Share during 2021-2026 | Labcorp (US), Quest Diagnostics (US) and OPKO Health Inc. (US)

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Esoteric Testing Market Growing Demand to Impact Revenue Share during 2021-2026 | Labcorp (US), Quest Diagnostics (US) and OPKO Health Inc. (US)

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[desmoinesnewsdesk]

Esoteric Testing Market Growing Demand to Impact Revenue Share during 2021-2026 | Labcorp (US), Quest Diagnostics (US) and OPKO Health Inc. (US)

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Esoteric Testing Market Growing Demand to Impact Revenue Share during 2021-2026 | Labcorp (US), Quest Diagnostics (US) and OPKO Health Inc. (US)

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Esoteric Testing Market Growing Demand to Impact Revenue Share during 2021-2026 | Labcorp (US), Quest Diagnostics (US) and OPKO Health Inc. (US)

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[kenresearchcompany]

Expanding healthcare spending by the Government and Increasing Public Awareness acting as a catalyst for the Clinical Laboratory Market in Thailand

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The increasing healthcare spending by the aging population and introduction of technologically advanced products are some factors boosting the Clinical Laboratory market.

The Thailand Clinical Laboratory Market is one of the fastest growing service segments in Thailand. This growth is primarily due to an increase in healthcare spending due to an aging population, rising income levels, growing awareness of preventive testing, the availability of advanced healthcare diagnostic tests, and healthcare policies implemented by the central government. Improvements in clinical diagnostics and testing technology have also led to an increase in the number of rapid and broad testing advances, which has contributed to the rise in overall demand. Thailand's funding for healthcare is being increased, and continuous healthcare development initiatives have been essential to the industry's continued progress.

Public Hospital Labs have the highest revenue share in the Thailand Clinical Laboratory Industry.

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Private hospital labs hold a 35.0% revenue share of the market in 2021, thanks to a growth in the number of clinical laboratories across the nation and the availability of test packages that satisfy the needs of various client groups. The national health insurance coverage is expanding the share of public hospital labs. Modern technology and equipment are available in private laboratories to conduct specialist testing including microbiology, anatomical pathology, and esoteric examinations.

Private Health Insurance covers the majority of the market share in the Thailand Clinical Laboratory Market.

Private health insurance is the main source of revenue for laboratories. 30% of the tests conducted in Thailand were conducted by corporations. An increase in corporate clients for pre-employment exams and annual health checks has been observed by the expanding the Thai labor force.  Because of the high standard and breadth of treatments provided by private health insurance providers, it is more common to purchase private health insurance.

For more information on the research report, refer to below link:

Thailand Clinical Laboratory Market Outlook to 2026F

[rohit890]

Esoteric Testing Market Share Analysis And Research Report By 2031

Market Overview

The global esoteric testing market was valued at USD 21.4 billion in 2021 and it is anticipated to grow further up to USD 62.9 billion by 2031, at a CAGR of 11.4% during the forecast period.

Esoteric testing involves the laboratory examination of uncommon molecules and substances that is not often done in a clinical laboratory. These tests are carried out when a doctor needs more comprehensive information regarding the patient’s health. To assess the outcome, a sophisticated device, materials, and specialist are needed.

 View Detailed Report Description: https://www.globalinsightservices.com/reports/esoteric-testing-market/

Market Dynamics

The growing geriatric population coupled with the increasing prevalence of chronic and infectious diseases and advancing esoteric DNA sequencing technologies in precision medicine, early diagnosis of cancer, and precision medicine are boosting the growth of the market. Globally, chronic diseases including diabetes, heart disease, and cancer are on the rise. Infectious disease prevalence is also rising at an alarming rate and includes diseases like Dengue, Hepatitis B, C, HIV, Malaria, Tuberculosis, and others. The knowledge of esoteric testing for the quick and accurate detection of certain disorders is growing. Esoteric tests’ improving technology is providing quicker results with improved sensitivity, detection limits, and efficacy. The market is expanding as a result of the rising use of esoteric DNA sequencing, NGS technologies, and whole genome sequencing in the early diagnosis of cancer, precision medicine, and personalized medicine.

The inadequate reimbursement of the esoteric tests is likely to hinder the growth of the market. One of the main factors limiting the expansion of the esoteric testing business is inadequate reimbursement. Medicare’s coverage of personalized and precision medicine is quite limited. The amount of testing has been significantly influenced in recent years by a decrease in the reimbursement for diagnostic tests. This came about as a result of Medicare, Medicaid, and other third-party payers, notably managed care organizations (MCOs), tightening their controls over the use of laboratory services.

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The key players in the global esoteric testing market are Labcorp (US), Quest Diagnostics (US), OPKO Health (US), H.U. Group Holdings, Inc. (Japan), Healius Limited (Australia), Sonic Healthcare (Australia), Mayo Foundation for Medical Education and Research (MFMER, US), Eurofins Scientific (Luxembourg), Stanford Clinical Pathology (US), Foundation Medicine (US), Kindstar Global (Beijing) Technology, Inc. (China), ARUP Laboratories (US), Georgia Esoteric & Molecular Laboratory, LLC (US), Thyrocare Technologies Ltd. (India), ACM Global Laboratories(US), BioAgilytix Labs (US), National Medical Services Inc. (NMS) (US), Baylor Esoteric and Molecular Laboratory (US), Cerba Xpert (Belgium), HealthQuest Esoterics (US), BUHLMANN Diagnostics Corp (BDC, US), BP Diagnostic Centre SDN BHD (Malaysia), Flow Health (US), and Leo Labs, Inc. (India).

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

Contact Us:

Global Insight Services LLC

16192, Coastal Highway, Lewes DE 19958

E-mail: info@globalinsightservices.com

Phone: +1–833–761–1700

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Esoteric Testing Market 2020-2025: Recent Industry Developments and Growth Strategy

Esoteric Testing Market 2020-2025: Recent Industry Developments and Growth Strategy

According to our new research study on “Esoteric Testing in Healthcare Market Forecast to 2025 – COVID-19 Impact and Global Analysis – by Technology, Test Type, and End User,” the market is expected to reach US$ 45,081.6 million by 2025 from US$ 19,868.2 million in 2017; it is estimated to grow at a CAGR of 11.7% from 2017 to 2025. The report highlights trends prevailing in the market, and the…

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Which Region is Expected to hold the highest Market Share in the Esoteric Testing Market?

Esoteric Testing Market 2021

 Esoteric testing is used to analyze the presence of unusual or atypical substances that are not routinely performed in clinical laboratories. These tests provide cutting-edge research and development of new assays as well as enhancement of existing diagnostic tests to develop tools with sensitivity, specificity, efficiency, and clinical value. Thus, the Esoteric Testing market is predicted to grow with a CAGR of 11.2% during the forecast period.

Get a  Sample copy of this report : https://straitsresearch.com/report/Esoteric Testing-Market/request-sample

The Major Manufacturers Covered in this Report:

Labcorp (the U.S.), Quest Diagnostics (the U.S.), OPKO Health (the U.S.), MiracaHoldings (Japan), Arup Laboratories (the U.S.), Myriad Genetics (the U.S.), Genomic Health (the U.S.), American Medical Laboratories (the U.S.), Foundation Medicines (the U.S.), Mayo Medical Laboratories (the U.S.) and more...

[domberaj38]

According to Nova one advisor, the global Esoteric Testing market size was estimated at USD 25.94 billion in 2021 and is expected to surpass around USD 67.39 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 11.19% during the forecast period 2022 to 2030.

[kudos12]

Esoteric Testing Market: Business Growth, Investment Opportunities, Share, and CAGR of ~12% during the forecast period 2022 – 2031

Research Nester published a report titled “Esoteric Testing Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global esoteric testing market in terms of market segmentation by test type, technology, end user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global esoteric testing market is estimated to occupy a sizeable revenue by growing at a CAGR of ~12% during the forecast period, i.e., 2022 – 2031, ascribing to the rising occurrence of chronic and infectious diseases around the globe, and rapidly growing geriatric population, as age is a big risk factor for several disorders. Along with this, increasing technological developments in the field of DNA sequencing in precision medicines, and escalating investments by companies to develop techniques for early diagnosis of cancer are also expected to accelerate the growth of the market in the forthcoming years.

In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:

As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation. 

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The market is segmented by test type, technology and end user. Based on test type, the infectious disease segment is anticipated to acquire the largest share during the forecast period on the back of the rising incidences of infectious diseases, and surging technological advancements in molecular diagnostics. Additionally, by technology, the chemiluminescence immunoassay segment is projected to grab the largest share over the forecast period attributing to the good precision, high performance levels and low detection limits of the technology for esoteric testing.

Geographically, the global esoteric testing market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to occupy the largest share and witness noteworthy growth in the market during the forecast period attributing to the high healthcare expenditure, and well-established medical infrastructure in the region. Moreover, the market in Europe is also assessed to acquire significant share over the forecast period ascribing to the escalating utilization of rapid diagnosis, and technological advancements associated with precision medicine in the region.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

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Rising Occurrence of Chronic and Infectious Disorders Worldwide to Drive Market Growth

Since the last two decades, the prevalence of chronic and infectious diseases has observed a notable surge across the globe. This can be credited to the adoption of sedentary lifestyle changes among people, and rising consumption of alcohol and tobacco, which in turn is anticipated to raise the demand for esoteric testing significantly in the near future.

However, inadequate reimbursements for esoteric tests are expected to operate as key restraint to the growth of the global esoteric testing market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global esoteric testing market which includes company profiling of H.U. Group Holdings, Inc., Laboratory Corporation of America, McClernon LLC, Quest Diagnostics, Healius Limited, Sonic Healthcare, Mayo Foundation for Medical Education and Research, Georgia Esoteric & Molecular Laboratory, LLC, Thyrocare Technologies Ltd., ACM Global Laboratories, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global esoteric testing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.