U.S. Esoteric Testing Market Outlook & Forecast 2021-2026: Advancement in Technology Such as First-Generation Genome Sequencing and Next-generation Genome Sequencing – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “U.S. Esoteric Testing Market – Industry Outlook & Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.

The U.S. esoteric testing market size is expected to grow at a CAGR of around 7% during 2020-2026.

Advancement in technology such as first-generation genome sequencing and next-generation genome sequencing drives the U.S. esoteric testing market growth. The increasing usage of precision medicines and personalized medicines is booming in the clinical diagnostics and esoteric testing market in the U.S.

The out-patient testing segment occupies 78% of the U.S. esoteric testing market share. During the COVID-19 pandemic, this testing played a significant role in analyzing the structure of the virus, assigning the treatment for infection, and detecting the presence in infected people. Thus, the advent of COVID-19 is positively impacting the demand for esoteric testing across the country.

U.S. ESOTERIC TESTING MARKET SEGMENTATION

The U.S. esoteric testing market research report includes a detailed segmentation by field of study, technology, patient type. There are more than 31 companion diagnostics assays in the market today, and LabCorp and Covance have helped in the development of almost 75% of those. The largest application area of such tests is Oncology. Quest Diagnostics provides a wide range of mass spectrometry innovations such as liquid chromatography-tandem mass spectrometry assays, insulin-like growth factor, thyroglobulin, and steroid multiplexing. Quest diagnostics have innovated the MS to produce a method to detect the IGF-I factor, which produces rapid and more accurate results.

Based on technology, esoteric tests are helpful in the diagnosis of many rare disorders. The next-generation sequencing technique is a modern technique of gene sequencing, which is a highly efficient and rapid method of gene sequencing. Esoteric laboratories were the first to adopt the LC-MS/MS technology as it provided the advantage of being cost-effective over conventional testing methods such as HPLC and GC-MS.

Technological advancements in gene sequencing have been continuously reduced the cost required and the time taken for genome sequencing. LC-MS/MS to witness enormous growth for high application in laboratory diagnostics. Quest Diagnostics is one of the leading vendors in the U.S. esoteric testing market and clinical diagnostics market and uses LC-MS/MS technology for testing in endocrinology.

Out-patient care is widely accepted by patients who are opting the genetic testing. The vendors providing out-patient testing services first confirm the billing ability of the patient to pay for the test. Out-patient testing is witnessing growth in revenue, as the esoteric test in an inpatient setting is not economical for most hospitals. Most of the hospitals focus on making the tests in an out-patient setting.

COMPETITIVE LANDSCAPE

Technology advancement and collaboration are the key factors driving the competition in the U.S. market. Players are looking to equip their testing catalog with the latest findings and advanced technologies.

Laboratory Corporation of America Holdings has performed many acquisitions over the years, which has strengthened its position in the market. It has helped in strengthening the company’s scientific capabilities and increasing the therapeutic fields.

In the diagnostics segment, a significant part of the company’s revenue is generated in the U.S. and focusing on improving its presence across the globe.

Major Vendors

Laboratory Corporation of America Holdings (Labcorp)

Business Overview

Products Offerings

Key Strategies

Key Strengths

Key Opportunities

Quest Diagnostics

BioReference Laboratories

Eurofins Scientific

Mayo Clinic Laboratories

Sonic Healthcare

Other Prominent Vendors

Myriad Genetics

Business Overview

Product Offerings

ARUP Laboratories

South Bend Medical Foundation

Capstone Healthcare

BioAgilytix

Biological Laboratory

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

4.1 Market Definition

4.2 Base Year

4.3 Scope of the Study

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Introduction

7.1 Overview

7.2 Esoteric Testing in COVID-19

8 Market Opportunities & Trends

8.1 Automation of Laboratory Testing

8.2 Growing Use of Companion Diagnostics for Therapy Selection

8.3 Increasing Use of Genetic Counseling

9 Market Growth Enablers

9.1 Inclination Toward Personalized Medicine

9.2 Increasing Focus on Risk Assessment & Predisposition

9.3 Growing Technological Advancements

10 Market Growth Restraints

10.1 Less Performed Tests & High Cost

10.2 Social, Legal, & Ethical Implications of Genetic Testing

11 Market Landscape

11.1 Market Overview

11.2 Market Size & Forecast

11.3 Five Forces Analysis

12 Field of Study

12.1 Market Snapshot & Growth Engine

12.2 Market Overview

12.3 Genetics

12.4 Immunology

12.5 Oncology

12.6 Infectious Diseases

12.7 Endocrinology

13 Technology

13.1 Market Snapshot & Growth Engine

13.2 Market Overview

13.3 Immunoassay

13.4 RT-PCR

13.5 LC-MS/MS

13.6 Flow Cytometry

13.7 Gene Sequencing

14 Patient Type

14.1 Market Snapshot & Growth Engine

14.2 Market Overview

14.3 Inpatient Testing

14.4 Outpatient Testing

15 Competitive Landscape

15.1 Competition Overview

15.2 Market Share Analysis

15.2.1 Labcorp

15.2.2 Quest Diagnostics

For more information about this report visit https://www.researchandmarkets.com/r/pktefk