Global Esoteric Testing Market 2019-2023
About this market
The increasing prevalence of chronic diseases, such as cancers, among individuals is fueling the demand for the early diagnosis of diseases to offer better patient care. Infections are increasingly caused by pathogens such as bacteria, viruses, fungi, and parasites, resulting in diseases such as hepatitis and herpes as well as urinary tract infections and bladder infections. Anatomical pathologists are increasingly performing esoteric testing to investigate and diagnose diseases by examining surgical specimens, including specimens from a biopsy. Thus, the increase in the prevalence of chronic and infectious diseases, coupled with the demand for early diagnoses through esoteric testing, is expected to propel the growth of the global esoteric testing market during the forecast period. Technavio’s analysts have predicted that the esoteric testing market will register a CAGR of almost 12% by 2023.
Increasing industry developments
Vendors are increasingly focusing on improving their distribution networks and ensuring the availability of services to healthcare centers. The increasing developments in esoteric testing are expected to propel the growth of the global esoteric testing market during the forecast period.
Lack of highly skilled professionals
Esoteric testing requires skilled professionals such as pathologists and clinical laboratory scientists who perform esoteric tests for the advanced diagnosis of diseases. However, the lack of adequate training and courses on esoteric testing in emerging economies is one of the prime factors limiting the number of students graduating to perform esoteric tests.
For the detailed list of factors that will drive and challenge the growth of the esoteric testing market during the 2019-2023, view our report.
The market appears to be fairly concentrated and with the presence of several vendors. The vendors in the global esoteric testing market have adopted various strategies, including press releases, annual reports, and participation in conferences, to promote their product offerings. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Esoteric Testing Market 2019-2023
Technavio recognizes the following companies as the key players in the global esoteric testing market: Enzo Biochem Inc., Eurofins Scientific, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Sonic Healthcare.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the technological advances in molecular diagnostics.”
According to the report, one of the major drivers for this market is the rising number of laboratories providing advanced services.
Further, the report states that one of the major factors hindering the growth of this market is the lack of awareness of early disease diagnosis in underdeveloped countries.
Enzo Biochem Inc.
Laboratory Corporation of America Holdings
Quest Diagnostics Incorporated
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