Esoteric Testing Market Share

North American Market Forecast   

The North American esoteric testing market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the well-established medical infrastructure, and high healthcare spending in the region. As per the data provided by the Centers for Medicare and Medicaid Services, healthcare spending in the United States grew 9.7% in 2020, reaching a value of USD 4.1 trillion or USD 12,530 per person. In addition to this, the increasing frequency of chronic disorders, coupled with the growing ratio of diagnostic tests, as well as the vast population base of aged people are also estimated to fuel the regional market growth further over the forecast period. Furthermore, the escalating proportion of rare disorders, along with the surging investment in R&D activities for rare diseases is also anticipated to accelerate the growth of the esoteric testing market in the region during the projected time frame.

Europe Market Forecast

The European esoteric testing market, amongst the market in all the other regions, is projected to grow with a notable CAGR during the forecast period. The growth of the market can be attributed majorly to the rising utilization of rapid diagnosis, followed by the technological advancements to develop enhanced precision medicine in the region.