Global Fecal Occult Testing market 2016-2020
About Fecal Occult Testing
Fecal occult testing is simple and non-invasive in nature, thereby increasing its preference among many physicians. The results of few of the fecal occult tests can be obtained rapidly through point-of-care (POC) test kits such as Alere's Clearview iFOB, and Beckman Coulter's Hemoccult II SENSA. For instance, the Clearview iFOB test is based on human hemoglobin and gastrointestinal bleeding, and can provide results in five minutes. Beckman Coulter's Hemoccult II SENSA slides allow people to collect fecal samples at home settings and send them to hospitals, laboratories, and diagnostic centers.
Technavio’s analysts forecast the global fecal occult testing market to grow at a CAGR of 4.82% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global fecal occult testing market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of fecal occult testing products used to perform colorectal cancer screening.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fecal Occult Testing Market 2016-2020
Technavio recognizes the following companies as the key players in the global fecal occult testing market: Beckman Coulter, Eiken Chemical, Epigenomics, and Quidel.
Other Prominent Vendors in the market are: Abbott Laboratories, AccuBioTech, Applied Proteomics, ASAN PHARM, Assure Tech. (Hangzhou), BIOHIT Healthcare, EDP Biotech, FUJIREBIO, GeneNews, NanoRepro AG, Nantong Egens Biotechnology, Orion Diagnostica, Polymedco, Quest Diagnostics, Randox, and VolitionRx.
Commenting on the report, an analyst from Technavio’s team said: “Direct-to-consumer laboratory testing is an important trend spurring this market’s growth prospects. Direct-to-consumer laboratory testing allows people to receive test kits and send samples to laboratories. Many people in the age group 60 years and above in developed countries such as Australia, the US, the UK, and Germany opt for direct-to-consumer genetic testing. These products can be selected online services and can be accessed from any geographical location. The cost of these products is less compared with traditional genetic testing kits. Direct-to-consumer genetic testing kits cost $100-$1,200. Companies or laboratories such as Color Genomics in the US and Mapmygenome in India offer direct-to-consumer genetic testing services that help identify or screen for colorectal cancer.”
According to the report, shift toward patient-centered model (POC FITs) for home use is one of the ley drivers contributing to the growth of this market. Various government and non-government initiatives have helped increase awareness and research data about colorectal cancer. This presents significant opportunities for improving cancer management. Devices used for testing at or near the site of the patient are known as POC devices. These devices can be used at home settings; however, people need to consult their physicians for further disease diagnosis and treatment. These devices can also be used outside a laboratory and in hospitals and clinics.
Further, the report states that limited awareness and reluctance of physicians to recommend fecal occult testing is a major challenge this market is facing. Awareness about colorectal cancer and associated screening methods among people is limited. Moreover, people who are aware of screening methods mostly opt for colonoscopy; a significant number of physicians worldwide are of the opinion that colonoscopy can help reduce the mortality rate associated with colorectal cancer. The lack of efficacy in test results of fecal occult testing similar to guaiac-based tests and FITs encourages physicians to recommend colonoscopy.
Beckman Coulter, Eiken Chemical, Epigenomics, Quidel, Abbott Laboratories, AccuBioTech, Applied Proteomics, ASAN PHARM, Assure Tech. (Hangzhou), BIOHIT Healthcare, EDP Biotech, FUJIREBIO, GeneNews, NanoRepro AG, Nantong Egens Biotechnology, Orion Diagnostica, Polymedco, Quest Diagnostics, Randox, VolitionRx.
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