PUBLISHER: Grand View Research | PRODUCT CODE: 1790313
PUBLISHER: Grand View Research | PRODUCT CODE: 1790313
Esoteric Testing Market Summary
The global esoteric testing market size was estimated at USD 24.6 billion in 2024 and is projected to reach USD 47.98 billion by 2030, growing at a CAGR of 11.8% from 2025 to 2030. The market growth can be attributed to the increasing demand for early disease diagnosis and the rising prevalence of cancer, which impels the demand for safer diagnostic options.
According to the National Center for Biotechnology Information (NCBI), around 2,041,910 cancer cases will be diagnosed, with 618,120 cancer deaths expected in the U.S. in 2025. The lucrative growth potential of currently available esoteric testing options and high demand for technologically advanced and affordable tests are the factors expected to drive the market growth in the coming years. Moreover, the adoption of advanced esoteric testing technologies in independent and reference laboratories is anticipated to drive the esoteric testing industry.
Esoteric tests are crucial in identifying particular genetic markers and biomarkers to develop personalized treatment plans. For instance, in February 2023, F. Hoffmann-La Roche Ltd announced the extension of its collaboration with Janssen to advance personalized healthcare by focusing on companion diagnostics, further strengthening research and innovation activities. Thus, the rising preference for personalized medicine worldwide is anticipated to boost product demand in the coming years. The growing inclination of surgeons and patients for esoteric tests due to technological advancements, such as real-time Polymerase Chain Reaction (PCR), next-generation sequencing, and others, is anticipated to be a key driver of the rising demand for advanced diagnostics. Examples of esoteric diagnostics are genetic tests for uncommon illnesses, specialized tests for unusual infections, and advanced biomarker assays. In contrast to standard blood or urine testing, esoteric diagnostics are usually outsourced to reference labs equipped with the necessary equipment and personnel. These tests can be beneficial in specific therapeutic settings or scientific investigations owing to their high specificity and effectiveness, even though the demand is usually low due to the high cost.
The growing trend toward personalized treatment has led to a significant increase in the need for esoteric tests. To identify targeted therapies specific to each patient, these specialized tests examine a patient's genetic composition, protein profiles, and biomarkers. With the growing adoption of personalized medicine and precision diagnostics due to increased awareness, targeted and customized testing strategies are becoming increasingly necessary. An increase in initiatives undertaken by the government to provide various facilities, such as reimbursement for diagnostic tests, is another major factor anticipated to drive the market. Many healthcare institutions are working with laboratories to integrate different esoteric tests.
Over the last few years, the coverage for these procedures by policies offered by government and private insurance providers has increased. Hence, supportive reimbursement and regulatory policies also act as key drivers of the market. Medicare and Medicaid have increased reimbursement for various esoteric tests. In addition, private insurers are collaborating with esoteric labs to offer patients affordable tests, which lower out-of-pocket costs for patients and increase access to esoteric tests, thereby driving market growth.
Esoteric Testing Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels as well as provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the esoteric testing market report on the basis of product, technology, and region: