The global esoteric testing market is driven by emerging technologies, for example, Sanger sequencing, pyrosequencing, NGS, digital NGS, and biomarker analysis. Further, advanced molecular phenotyping technologies and digital microfluidic platforms are also anticipated to thrust the growth in the esoteric testing market.
The emerging economies around the world are also creating lucrative opportunities for the players who are operating in the esoteric testing market. These advancements are on the back of a rising geriatric population, growth in disposable income, improving healthcare infrastructure, and an increasing number of infectious and chronic diseases.
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The Key Drivers and Restraints in the Global Esoteric Testing Market
There is a rise in the frequency of irresistible and persistent illness, which boosts development in theesoteric testing market. Further, progression in the customized medicines and early diagnosis of malignancy is driving the opportunities in the esoteric testing market. In addition, there is an increase in the application of esoteric DNA sequencing that helps in the advancements in exactness medicine that further boosts the esoteric testing market.
The abrupt rise in the COVID-19 pandemic has restricted the decline in the growth in the esoteric testing market. The organizations have confronted certain strategic and functional difficulties due to inconvenience caused by the lockdowns in order to maintain social distancing. Further, the sudden tremendous rise in COVID-19 patients has created a crucial demand for mass scale diagnosis in various regions. That’s why the organizations strayed and heightened their complete concentration towards diagnostic solutions for these patients. This prominent step has curtailed the growth opportunities in the esoteric testing market.
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The predominance of irresistible diseases such as Tuberculosis, Malaria, HIV, Hepatitis B & C, Dengue, and others are expanding the lucrative opportunities in the esoteric testing market. The populace across the world is familiar with esoteric tests. So, it helps in their extensive application for the diagnosis of a different illness. The advancements in esoteric testing ensure results with greater viability, affectability, and identification of cutoff points. These are expected to fuel growth in the esoteric testing market.