#Technology (TRBC)

[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.

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