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 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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).
- Based on the test type, the market has been segmented into Guaiac FOB Stool, Immuno-FOB Agglutination, Lateral Flow Immuno-FOB, and Immuno-FOB ELISA tests.
- On the basis of the end user, the market has been classified into hospitals, clinical diagnostic laboratories, and physician office laboratories.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Abbott Laboratories, Beckman Coulter, Inc. (Danaher Corporation), Biohit Oyj, EDP Biotech Corporation, Eiken Chemical Corporation Limited, Epigenomics AG, Quest Diagnostics Incorporated, Quidel Corporation, and Randox Laboratories Limited.
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