Fecal Occult Blood Tests Market Trends, Share Opportunities and Forecast By 2030
Fecal Occult Blood Tests market analysis report gives an examination of a range of segments that are relied upon to witness the quickest development amid the estimate forecast frame. The data and information covered in the report are obtained from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the market experts. The company profiles of all the key players and brands that are dominating the Fecal Occult Blood Tests market with moves like product launches, joint ventures, mergers and acquisitions which in turn is affecting the sales, import, export, revenue and CAGR values are mentioned in the report.
Data Bridge Market Research analyses that the market is growing with a CAGR of 5.3% in the forecast period of 2023 to 2030 and is expected to reach USD 2,426.86 million by 2030.
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A fecal occult blood test (FOBT) is a diagnostic screening test performed to analyze hidden (occult) blood in stool samples. The fecal occult blood test is also known as stool occult blood, immunoassay FOBT, hemoccult, and IFOBT and guaiac smear test commonly. The test is majorly utilized to screen colon cancer and analyze possible causes of unexplained anemia.
Opportunities
Increase in screening procedures
Most government agencies and scientific societies recommend cervical, breast, and colorectal screening because of the burden of these cancers, the availability of screening tests, and the proven efficacy of screening in reducing mortality, as well as incidence, for cervical and colorectal cancers.
The European Community recommends the implementation of population-based screening programs for colorectal cancers. This recommendation is supported by many observational studies showing that organized programs effectively reduce mortality and control the inappropriate use of screening tests.
Some of the major players operating in this market are Biopanda Reagents Ltd, HUMASIS.COM, CTK Biotech, Inc., Biohit Oyj, CERTEST BIOTEC, Alfa Scientific Designs, Inc., Cenogenics Corporation, and Jant Pharmacal Corporation., among others.
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