The global fecal occult testing market at a CAGR of almost 5% during the forecast period

Wednesday, July 31, 2019 General News
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NEW YORK, July 30, 2019 /PRNewswire/ --

Global Fecal Occult Testing Market: About this market

Fecal occult testing is a laboratory test performed to detect the presence of hemoglobin in a stool sample. This fecal occult testing market analysis considers sales from hospitals, physicians' office laboratories, and clinical diagnostic laboratories. Our

analysis also considers the sales of fecal occult testing in Asia, Europe, North America, and ROW. In 2018, the hospitals segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising demand for integrated care services will play a significant role in the hospitals segment to maintain its market position. Also, our global fecal occult testing market report looks at factors such as rising geriatric population, increasing prevalence of CRC, and an increasing number of government initiatives for CRC screening tests. However, stringent regulatory guidelines and lack of trained professionals, challenges associated with FOBT, and limited healthcare services in developing countries may hamper the growth of the fecal occult testing industry over the forecast period.

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Global Fecal Occult Testing Market: OverviewRising geriatric populationThe increase in the incidence of various diseases is much higher in the elderly population when compared to the younger population. Colon and rectum cancers are most commonly affecting the elderly population. Government and various organizations have taken initiatives in increasing the number of individuals above 50 years of age to undergo colorectal cancer (CRC) screening. This rising geriatric population will lead to the expansion of the global fecal occult testing market at a CAGR of almost 5% during the forecast period.Growing demand for POC testingPoint of care (POC) testing has improved the ways the clinical and diagnostics procedures are performed. The early detection and early treatment are the most significant strategy which is implemented by various stakeholders. POC testing plays an important role in CRC screening with advantages such as ease of use, minimal maintenance, and requirement of low-skilled laboratory profession to perform the tests. This development is expected to have a positive impact on the overall market growth.Competitive LandscapeWith the presence of a few major players, the global fecal occult testing market is concentrated. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading fecal occult testing manufacturers, that include Abbott Laboratories, bioMérieux SA, Danaher Corp., Eiken Chemical Co. Ltd., and Quidel Corp.Also, the fecal occult testing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

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