A recent report published by Infinium Global Research on the fecal occult testing market provides an in-depth analysis of segments and sub-segments in the global as well as a regional fecal occult testing market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional fecal occult testing market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global fecal occult testing market. According to the report, the global fecal occult testing market is projected to grow at a CAGR of 4.7% over the forecast period of 2019-2025.
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.
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.
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.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of fecal occult testing market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.