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Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
Global Faecal Occult Testing Market Outlook
The global faecal occult testing market is expected to grow at a CAGR of 5.4% during the forecast period of 2024-2032.
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The growing geriatric population is one of the key factors driving the growth of the faecal occult testing market during the forecast period. A faecal occult blood test is a screening test, which helps in the detection of colorectal cancer in its initial stage, the phase when treatment is most effective.
Market Segmentation
The faecal occult test is a medical test for concealed or occult blood to verify stool samples. Occult blood presence shows the existence, in the colon or rectum, of colon cancer or polyps, ulcers, anal fissures, Crohns disease, and many more circumstances. The faecal occult test is used to identify colon cancer in clinical testing.
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The global faecal occult testing industry can be segmented into end-use and region.
Based on its end-use segments, the industry can be classified as:
- Hospitals
- Physicians' Office Laboratories
- Clinical Diagnostic Laboratories
The EMR report looks into the regional faecal occult testing markets like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
Market Analysis
The major factors contributing to the growth of the market for faecal occult testing include the increasing rectal and colon cancer prevalence, government initiatives such as organising camps for colorectal cancer check-ups, improved medical infrastructure, and the adoption of advanced faecal occult testing methods. However, factors like less awareness of the test and its high cost may limit the faecal occult testing market growth over the forecast period. At the same time, the development of direct-to-consumer laboratory testing and the availability of faecal occult immunological test devices in online stores will also provide lucrative market growth opportunities, which will aid the global faecal occult testing industry in the future.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global faecal occult testing equipment market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Abbott Laboratories (NYSE: ABT)
- bioMérieux SA
- Danaher Corp.
- Eiken Chemical Co. Ltd.
- Quidel Corp.
- Eurolyser
- HemoCue America
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by End Use |
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| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global faecal occult testing market is projected to grow at a CAGR of 5.4% between 2024 and 2032.
The major drivers of the market are the growing availability of robust healthcare facilities for cancer diagnosis and treatment, the increasing prevalence of colorectal cancer, the growing geriatric population, and the introduction of various favourable government initiatives to bolster cancer diagnosis and treatment.
The key trends guiding the growth of the market include advancements in direct-to-consumer laboratory testing services and the growing availability of faecal occult immunological test devices on online platforms.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Hospitals, physicians' office laboratories, and clinical diagnostic laboratories are the leading end use segments of the product in the market.
The major players in the market are Avantor, Inc., bioMérieux SA, Henry Schein, Inc., Quidel Corporation, Eurolyser Diagnostica GmbH, Danaher Corporation, and Eiken Chemical Co., Ltd., among others.
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