The latest report by IMARC Group, titled “Fecal Occult Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global fecal occult testing market size grew at a CAGR of around 5% during 2015-2020. Fecal occult testing is used to analyze hidden blood in stool samples. It is a non-invasive procedure that is performed by collecting samples using cards and flushable reagent pads and tissues. Fecal occult blood testing helps in diagnosing colon cancer, polyps in the colon or rectum, ulcers, anal fissures, Crohn’s disease, hemorrhoids, diverticulosis, colitis and benign tumors. It also aids in examining the possible causes of unexplained anemia. In recent years, fecal occult testing has gained prominence as it enables quick medical decisions, provides effective healthcare, improves the quality of life, and reduces the mortality rate among patients.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Global Fecal Occult Testing Market Trends:
The global fecal occult testing market is driven by the rising incidences of colon and rectal cancer. Besides this, various governments and non-profit organizations are implementing initiatives to educate people regarding colorectal cancer check-up programs and create awareness about a quick and accurate diagnosis. As a result, there has been rapid adoption of advanced fecal occult testing across the globe. Furthermore, the rising geriatric population that is at a high risk of contracting diseases, along with improving healthcare infrastructure, is also contributing to the market growth. Moreover, the easy availability of fecal occult test products at online stores, the growing emphasis on integrated health services for enhanced patient experience and the increasing inclination toward point-of-care diagnostics (POCD) are fueling the market growth. Looking forward, the market is expected to exhibit moderate growth during the forecast period (2021-2026).
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Abbott Laboratories
- Beckman Coulter Inc.
- Biohit Oyj
- EDP Biotech Corporation
- Eiken Chemical Co. Ltd.
- Epigenomics AG
- Quest Diagnostics Incorporated
- Quidel Corporation
- Randox Laboratories Ltd
Fecal Occult Testing Market Segmentation:
Our report has categorized the market based on region, test type and end user.
Market Breakup by Test Type:
- Guaiac FOB Stool Test
- Immuno-FOB Agglutination Test
- Lateral Flow Immuno-FOB Test
- Immuno-FOB ELISA Test
Market Breakup by End User:
- Clinical Diagnostic Laboratories
- Physician Office Laboratories
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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