APAC esoteric testing market to advance at 10.1% CAGR until 2029

The projection is the highest amongst the market’s key regions.

The Asia-Pacific (APAC) market for esoteric testing is expected to record the highest compound annual growth rate (CAGR) of 10.1% amongst six key regions until 2029, according to MarketsandMarkets.

The report revealed that the presence of emerging economies such as China, India, and Japan, the rising prevalence of chronic diseases, and the increasing demand for quality medical care drives the region’s market growth.

Moreover, a rise in healthcare spending, favourable government initiatives, and a growing awareness of esoteric tests amongst physicians also serve as major factors driving the market’s expansion in the region.

Meanwhile, the global market is estimated to reach $48.3b within the same period at a CAGR of 8.5%.

“Growth in this market is primarily driven by the increasing use of esoteric DNA sequencing technologies in precision medicine and early diagnosis of cancer, increasing research funding for precision medicine, genetic analysis, and the growing number of collaborations,” The report said.