Investment and Business Strategies in the Fecal Occult Testing Market
According to FutureWise analysis the market for Fecal Occult Testing in 2023 was US$ 1.64 billion, and is expected to reach US$ 2.22 billion by 2031 at a CAGR of 5.7%.
A fecal occult blood test checks for the presence of blood in your stool. To perform this test, a small sample of stool is collected and sent to a doctor or laboratory for analysis, usually in a special collection tube or on a specific card. Finding blood in the stool can indicate colorectal cancer or other conditions such as polyps, ulcers, or hemorrhoids. There are two main types of fecal occult blood tests: the guaiac fecal occult blood test and the immunochemical fecal occult blood test. The guaiac test uses a chemical called guaiac to detect blood, while the immunochemical test employs antibodies to identify blood in the stool. This test is commonly referred to as FOBT.
Fecal occult blood testing is increasingly encouraged due to rising awareness of the importance of early screening. This testing enables quick medical decisions, improves healthcare efficiency, enhances quality of life, and reduces mortality rates. A significant factor driving the growth of this market is the increasing emphasis on integrated health services for better patient experiences and health outcomes alongside a growing preference for point-of-care diagnostics (POCD).
In addition, as the chance of developing diseases rises with aging, the market is growing faster due to the growing geriatric population. As a result, multiple FOBT screening programs for senior citizens are being implemented by regulatory bodies in various nations. Furthermore, the market is expanding as a result of the increased use of minimally invasive (MI) procedures. Alongside this, immunochemical fecal occult blood tests (iFOBTs or FITs) are gaining interest as they are straightforward to use and clinically more sensitive to malignancies and advanced adenomas. During the forecast period, it is estimated that the widespread availability of FOBT devices at online retail stores will positively affect market growth.
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Fecal Occult Testing Market Segmentation:
By Product
- Guaiac FOB Stool Test
- Immuno-FOB Agglutination Test
- Lateral Flow Immuno-FOB Test
- Immuno-FOB ELISA Test
By End User
- Hospitals
- Clinical Diagnostic Laboratories
- Physicians' Office Laboratories
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Competitive Landscape in the Fecal Occult Testing Market:
- Quidel Corporation
- EIKEN CHEMICAL CO., LTD.
- Epigenomics AG
- Beckman Coulter, Inc.
- Abbott Laboratories
- Biohit Oyj.
- Polymedco CDP, LLC
- Quest Diagnostics Incorporated
- Randox Laboratories Ltd.
- EDP Biotech
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**Objectives of this Study: **
- To provide a comprehensive analysis of the Fecal Occult Testing Market By Product, By End User and By Region.
- To offer detailed insights into factors such as drivers, restraints, trends, and opportunities, as well as segmental and regional influences on market growth.
- To evaluate current market trends and forecast micro-markets, presenting overall market projections in the form of data sets and PowerPoint presentations.
- To predict the market size in key regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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