The latest report on “Fecal Occult Testing Market (Product – Immuno-FOB Agglutination Test, Guaiac FOB Stool Test, Lateral Flow Immuno-FOB Test, and Immuno-FOB Elisa Test; End-users – Hospitals, Clinical Diagnostic Laboratories, and Physicians’ Office Laboratories): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global fecal occult testing market is projected to grow at a CAGR of 4.7% over the forecast period of 2019-2025.
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An increasing number of countries have recently introduced colorectal cancer (CRC) screening programs. Typically, one specific screening exam, such as the fecal occult blood test (FOBT) or flexible sigmoidoscopy, is offered as a primary screening test. Fecal occult testing is a laboratory test performed to detect the presence of hemoglobin in a stool sample. This fecal occult testing market analysis considers sales from hospitals, physicians’ office laboratories, and clinical diagnostic laboratories. In 2018, the hospital’s segment had a significant market share, and this trend is expected to continue over the forecast period. The fecal occult blood test is majorly used for screening of colon cancer and analyzing possible causes of unexplained anemia. Colon cancer is a large intestine (colon) cancer, which occurs in the lower part of the digestive system. Colon cancer generally arises with a small, benign cluster of cells, known as adenomatous polyps, which result in colon cancer.
The increasing demand for integrated care services is the major driving factor for the fecal occult testing market. Furthermore, factors such as the growing prevalence of rectal & colon cancer improved medical infrastructure, and the adoption of advanced fecal occult testing are other driving factors for the market. Initiatives taken by the government such as organizing colorectal cancer check-ups are fueling the growth of the market. Government and various organizations have taken initiatives in growing the number of individuals above 50 years of age to undergo colorectal cancer (CRC) screening. However, less awareness among the consumers about fecal occult testing is restraining the growth of the market. Moreover, the availability of fecal occult immunological test devices in online stores are anticipated to provide wide growth opportunities to the market players.
North America Dominates the Global Fecal Occult Testing Market
Geographically, North America dominates the global fecal occult testing market owing to well-spread awareness among people, along with rapidly increasing demand for technologically advanced fecal occult blood test products. Europe is the second-largest market for fecal occult testing due to an increase in demand for fecal occult blood test products from European countries such as the U.K., Germany, and France.
The report on global fecal occult testing market covers segments such as product , and end-users. On the basis of product , the sub-markets include immuno-FOB agglutination test, guaiac FOB stool test, lateral flow immuno-FOB test, and immuno-FOB ELISA test. On the basis of end-users, the sub-markets include hospitals, clinical diagnostic laboratories, and physicians’ office laboratories.
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The report provides profiles of the companies in the market such as Abbott Laboratories, Biohit Oyj, Quidel Corporation, Randox Laboratories Ltd., Epigenomics AG, Beckman Coulter, Inc., Polymedco CDP, LLC, Quest Diagnostics Incorporated, EIKEN CHEMICAL CO., LTD., EDP Biotech, and other companies.
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=> Comprehensive analysis of global as well as regional markets of the fecal occult testing.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.