According to FutureWise analysis the market for Fecal Occult Testing in 2023 is US$ 1.64 billion, and is expected to reach US$ 2.22 billion by 2031 at a CAGR of 5.7%.
A test for fecal occult blood looks for blood in your poop, or faeces. A small sample of stool is collected and sent to a doctor or laboratory for testing in a special collection tube or on a special card. Blood in the stool could indicate colorectal cancer or other issues like polyps, ulcers, or haemorrhoids. There are two types of faecal occult blood tests: guaiac faecal occult blood test and immunochemical faecal occult blood test. Guaiac faecal occult blood test looks for blood in the stool using a chemical called guaiac. An antibody is used in the immunochemical faecal occult blood test to detect blood in the stool. Also known as FOBT.
Fecal occult testing is currently being encouraged because of the rising awareness of early screening because it allows for quick medical decisions, offers efficient healthcare, improves the quality of life, and lowers mortality rates. One of the significant factors driving the market expansion is the growing emphasis on integrated health services for better patient experiences and health outcomes, which is occurring at the same time as a growing preference for point-of-care diagnostics (POCD). In addition, as the chance of developing diseases rises with aging, the market is growing faster due to the growing geriatric population. As a result, multiple FOBT screening programs for senior citizens are being implemented by regulatory bodies in various nations. Furthermore, the market is expanding as a result of the increased use of minimally invasive (MI) procedures. Alongside this, immunochemical fecal occult blood tests (iFOBTs or FITs) are gaining interest as they are straightforward to use and clinically more sensitive to malignancies and advanced adenomas. During the forecast period, it is estimated that the widespread availability of FOBT devices at online retail stores will positively affect market growth.
FutureWise Market Research has published a report that provides an insightful analysis of fecal occult market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry.
According to the analysis conducted by FutureWise research analysts, the fecal occult market is estimated to register a considerable growth rate over the forecast period. This report lists the market segments and potential prospects available across this industry, in addition providing crucial information on the total valuation currently held by the industry. Moreover, this report will assist key management individuals in an organisation to enhance their decisions pertaining to business expansion as well as strategic changes for increasing customer base.