According to IMARC Group latest report titled” Fecal Occult Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The Global Fecal Occult Testing Market to exhibit moderate growth during the next five years. A fecal occult blood test (FOBT) refers to a non-invasive procedure used to detect hidden blood in the feces or stool. Samples are collected using cards and flushable reagent pads. These samples are sent to the labs for testing and diagnosing various medical conditions, such as ulcers, hemorrhoids, diverticulosis, colitis, benign tumors and colon cancer, that cause bleeding in the digestive tract. Fecal occult testing enables quicker medical decisions that lead to enhanced quality of life and a reduced mortality rate.
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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The growing focus on integrated health services for improved diagnosis and treatment outcomes, coupled with the rising inclination towards point-of-care diagnostics (POCD), is augmenting the market growth. Furthermore, the increasing geriatric population, who are more prone to various gastrointestinal disorders, is also driving the demand for fecal occult testing. Moreover, the widespread adoption of non-invasive and minimally-invasive (MI) procedures for treating hemorrhoids, colon cancer, ulcers, etc., is further augmenting the market. Apart from this, the emergence of immunochemical fecal occult blood tests (iFOBTs or FITs) for accurate diagnosis of gastrointestinal disorders will further continue to drive the global market.
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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
- Latin America
- Middle East and Africa
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
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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