Quick Summary:
In a world where early diagnosis and prevention are key to optimizing health outcomes, the global fecal occult testing market holds prime importance. The fecal occult blood test (FOBT) serves as a critical non-invasive procedure to detect hidden blood in the feces or stool, aiding in the early detection of diseases such as hemorrhoids, diverticulosis, ulcers, colitis, benign tumors and colon polyps or cancer. Enhancing healthcare efficiency and quality of life, these tests have gained prominence courtesy of a growing awareness around early screening options and the contribution they make towards reduced mortality rates.
Moreover, patient preference is steadily swaying towards integrated health services and point-of-care diagnostics (POCD), stimulating market growth. The surging geriatric population, susceptible to numerous diseases, accelerates the market expansion, with governing agencies worldwide leveraging FOBT screening programs tailored to older adults' needs. Presenting a paradigm shift in methodology, immunochemical fecal occult blood tests (iFOBTs or FITs) are gaining traction for their usability and clinical sensitivity. Coupled with FOBT device availability in online retail stores, these factors are setting the stage for accelerating market growth. Comprehend this complex yet critical market with the global fecal occult testing market report, offering well-researched insights discerning global, regional, and country-level trends and forecasts from 2023 to 2028.
A fecal occult blood test (FOBT) is a noninvasive procedure used to detect hidden blood in the feces or stool. It is performed by collecting samples using cards and flushable reagent pads or tissues. These samples are sent to the laboratory for testing and are used to diagnose conditions such as hemorrhoids, diverticulosis, ulcers, colitis, benign tumors and colon polyps or cancer, which cause bleeding in the digestive tract. At present, the growing awareness about early screening is promoting the adoption of fecal occult testing, as it enables quick medical decisions, provides effective healthcare, and leads to improved quality of life and the reduced mortality rate.
The rising focus on integrated health services for improved patient experience and health outcomes, in confluence with the increasing inclination towards point-of-care diagnostics (POCD), represents one of the key factors stimulating the market growth. Apart from this, the rising geriatric population is accelerating the growth of the market as the risk of contracting diseases increases with age. As a result, governing agencies of various countries are implementing several FOBT screening programs for older adults. Furthermore, the widespread adoption of minimally invasive (MI) procedures is contributing to the growth of the market. Besides this, immunochemical fecal occult blood tests (iFOBTs or FITs) are gaining traction as they are easy to use and clinically more sensitive to cancers and advanced adenomas. The easy availability of FOBT devices at online retail stores is anticipated to create a positive impact on the market growth in the upcoming years.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global fecal occult testing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on test type and end user.Breakup by Test Type:
- Guaiac FOB Stool Test
- Immuno-FOB Agglutination Test
- Lateral Flow Immuno-FOB Test
- Immuno-FOB ELISA Test
Breakup by End User:
- Hospitals
- Clinical Diagnostic Laboratories
- Physician Office Laboratories
Breakup by Region:
North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Beckman Coulter Inc. (Danaher Corporation), Biohit Oyj, EDP Biotech Corporation, Eiken Chemical Co. Ltd., Epigenomics AG, Quest Diagnostics Incorporated, Quidel Corporation and Randox Laboratories Ltd.Key Questions Answered in This Report:
- How has the global fecal occult testing market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global fecal occult testing market?
- What are the key regional markets?
- What is the breakup of the market based on the test type?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global fecal occult testing market and who are the key players?
- What is the degree of competition in the industry?
What is the estimated value of the Global Fecal Occult Testing Market?
What is the growth rate of the Global Fecal Occult Testing Market?
What is the forecasted size of the Global Fecal Occult Testing Market?
Who are the key companies in the Global Fecal Occult Testing Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | May 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 1302 Million |
| Forecasted Market Value ( USD | $ 1735 Million |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
Table of Contents
Companies Mentioned
- Abbott Laboratories
- Beckman Coulter Inc. (Danaher Corporation)
- Biohit Oyj
- EDP Biotech Corporation
- Eiken Chemical Co. Ltd.
- Epigenomics AG
- Quest Diagnostics Incorporated
- Quidel Corporation
- Randox Laboratories Ltd.
Methodology
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