Fecal Occult Blood Tests Market is Probable to Influence the Value of USD 2,426.86 Million by 2030, Size, Share, Trends, Industry Growth and Competitive Outlook

fecal occult blood tests market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.3% in the forecast period of 2023 to 2030 and is expected to reach USD 2,426.86 million by 2030

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NEW YORK, May 22, 2023 (GLOBE NEWSWIRE) -- The newest report from Data Bridge Market Research, "Fecal Occult Blood Tests Market" examines growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and the competitive environment in detail. To understand the market in-depth, a market research report is the perfect solution. This helps to know how the market is going to perform in the forecast years by giving information about market definitions, classifications, applications, and engagements. Market segmentation is also covered in detail by considering several aspects that is sure to help businesses out there. DBMR team players are multi-lingual analysts and project managers who are skilled to serve clients in every strategic aspect including product development, key areas of development, application modeling, use of technologies, acquisition strategies, exploring niche growth opportunities, and new markets.

The world class Fecal Occult Blood Tests market report endows with wide-ranging statistical analysis of the market’s continuous developments, capacity, production, production value, cost/profit, supply/demand and import/export. Moreover, businesses can apply the information included in this report to decide on their production and marketing strategies. The major topics such as market definition, market segmentation, competitive analysis and research methodology are studied in detail in this report. By leveraging the global experience of industry analysts, consultants and domain experts, this report has been prepared and delivered with excellence. Businesses can achieve unrivalled insights and acquaintance of the best market opportunities into their respective markets with the help of an international Fecal Occult Blood Tests market survey report.

Global fecal occult blood tests market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.3% in the forecast period of 2023 to 2030 and is expected to reach USD 2,426.86 million by 2030.

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A fecal occult blood test (FOBT) is a diagnostic screening test performed to analyze hidden (occult) blood in stool samples. The fecal occult blood test is also known as stool occult blood, immunoassay FOBT, hemoccult, and IFOBT and guaiac smear test commonly. The test is majorly utilized to screen colon cancer and analyze possible causes of unexplained anemia.

Opportunities:

  • Increase in screening procedures

Most government agencies and scientific societies recommend cervical, breast, and colorectal screening because of the burden of these cancers, the availability of screening tests, and the proven efficacy of screening in reducing mortality, as well as incidence, for cervical and colorectal cancers.

The European Community recommends the implementation of population-based screening programs for colorectal cancers. This recommendation is supported by many observational studies showing that organized programs effectively reduce mortality and control the inappropriate use of screening tests.

  • Rising technical advancements

A blood test has always been a technology- and data-dependent field. As data and technology potentially revolutionized diagnostic services and had positioned to partner with patients, families, practitioners, researchers, industry leaders, policymakers, and administrators to ensure that humanistic, high-value, ever-improving precise diagnosis remains the central goal for the future of blood test diagnosis.

The use of fecal occult blood testing has expanded to several indications, even though its primary use is for evaluating an occult source of GI blood loss and for home-based kits in colorectal carcinoma screening. One of the most common clinical uses for the hemoccult is for checking a stool specimen for occult bleeding prior to anticoagulation.

Recent Developments

  • In November 2022, Eiken Chemical Co, Ltd. had launched the fully automated fecal immunochemical test/ Faecal Calprotectin Analyzer “OC-SENSOR Ceres.” This has helped the company to establish its product globally
  • In January 2022, Boditech Med Inc. announced that it had signed a USD19.2 Million supply agreement with A. Menarini Diagnostics to accelerate its product portfolio. This helps the organization in generating revenue

The most prominent players in the Fecal Occult Blood Tests market include.

  • Biopanda Reagents Ltd
  • HUMASIS.COM
  • CTK Biotech, Inc.
  • Biohit Oyj
  • CERTEST BIOTEC
  • Alfa Scientific Designs, Inc.
  • Cenogenics Corporation
  • Jant Pharmacal Corporation

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At Data Bridge Market Research, we employ a comprehensive and iterative research methodology aimed at minimizing deviations to provide the most accurate estimates and forecasts possible. Our approach involves utilizing both bottom-up and top-down methods to segment and estimate the quantitative aspects of the market. Furthermore, a recurring theme across all our research reports is data triangulation, which examines the market from three distinct perspectives.

To derive our market estimates and forecasts, we employ simulation models that are tailored for each study. We gather information on market dynamics, technology landscape, application development, and pricing trends, which are then fed into the model and analyzed simultaneously. We compare these factors and quantify their impact on the forecast period using correlation, regression, and time series analysis. Our market forecasting is performed using a combination of economic tools, technological analysis, and our team's industry experience and domain expertise.

The investment made in the study would provide you access to information such as:

  • Fecal Occult Blood Tests Market [Global – Broken-down into regions]
  • Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
  • Country wise Market Size Split [of important countries with major market share]
  • Market Share and Revenue/Sales by leading players
  • Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
  • Fecal Occult Blood Tests Market Size
  • Market Size by application/industry verticals
  • Market Projections/Forecast

Key Industry Drivers:

  • Rising Cases Of Colorectal Cancer Globally

Colorectal cancer is a disease of the colon or rectum, which are parts of the digestive system. Unlike most cancers, colorectal cancer is often preventable with screening & can be treated when detected early. Most cases of colorectal cancer occur in people ages 45 & older. The disease is increasingly affecting younger people due to unhygienic lifestyles & smoking habits. Colorectal cancers may develop without symptoms. The common symptoms may include blood in or on the stool, persistent unusual bowel movements like constipation or diarrhea, stomach pain, aches or cramps that last longer and losing weight for no reason.

Most colorectal cancers start as abnormal tissue growth, called a polyp, inside the colon or rectum. Doctors can detect polyps with the help of screening tests & can remove them from developing into colorectal cancer. Even if it spreads into nearby lymph nodes, chemotherapy & surgical treatments are effective ways to treat colorectal cancer. Research is going on to learn more about this disease and provide more hope to people with all stages of colorectal cancer.

  • Direct-to-consumer Laboratory Testing

Direct-to-consumer laboratory testing is an effective way for users where they can order their corresponding laboratory tests directly from a lab without any healthcare providers. Nowadays, the healthcare industry is shifting towards direct-to-consumer laboratory testing from physician-based lab testing & hence the demand has increased drastically. Most of the patients are focusing on direct-to-consumer based laboratory tests without going through a lengthy in-clinic process, which is fueling the growth of the fecal occult blood tests market.

For the identification of previously unknown medical disorders, the test results are used. The advancements in the field of direct-to-consumer laboratory testing have become crucial to increase patient engagement for better monitoring & screening of existing health conditions. Hence, it is very important for laboratory professionals to upgrade the devices & instruments used in testing laboratories.

  • Easy Availability Of Fecal Occult Immunological Test Devices In Online Stores

A fecal occult blood test (FOBT) generally focuses on a stool sample to check for blood. The presence of blood in stool refers that there is bleeding in the digestive tract. The bleeding can be caused by a variety of conditions like Polyps (abnormal growths on the lining of the colon or rectum), Hemorrhoids (swollen veins in the anus or rectum), Diverticulosis (a condition with small pouches in the inside wall of the colon), Ulcers (sores in the lining of the digestive tract), Colitis (a type of inflammatory bowel disease) and Colorectal cancer.

There are a huge number of fecal occult immunological test devices available in the market, and people can buy the kits & devices from various online sites. Hence, it can be a driving factor for the growth of the fecal occult blood tests market.

Explore Further Details about This Research Report @ https://www.databridgemarketresearch.com/reports/global-fecal-occult-blood-tests-market

Key Market Segments Covered in Fecal Occult Blood Tests Industry Research

Test Type

  • Lateral Flow Immuno-FOB Test Kits
  • Immuno-FOB Agglutination Test Kits
  • Immuno-FOB ELISA Test Kits
  • Guaiac FOB Stool Tests
  • Flushable Reagent Pad Or Tissue

Application

  • Colorectal Cancer Screening
  • Concern For Gastrointestinal Bleeding
  • Polyps
  • Diverticulosis
  • Ulcers
  • Haemorrhoids
  • Colitis
  • Anemia

End User

  • Diagnostic Laboratories
  • Hospitals
  • Specialty Clinics

Distribution Channel

  • Direct Tender
  • Retail Sales
  • E-Commerce

Fecal Occult Blood Tests Market Regional Analysis/Insights:

The fecal occult blood tests market report comprises of the countries U.S., Canada, Mexico, Russia, Spain, Turkey, Germany, Italy, U.K., France, Belgium, Switzerland, Netherlands, Rest of Europe, China, Japan, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel and the Rest of the Middle East and Africa.

North America is expected to dominate the global fecal occult blood tests market due to an increasing inclination towards point-of-care diagnostics. An increase in demand for fecal occult blood test products and an increase in research and development activities in the industry are also expected to drive the market in the forecasted period.

Table of Contents:

  1. Introduction
  2. Market Segmentation
  3. Executive Summary
  4. Premium Insights
  5. Global Fecal Occult Blood Tests Market: Regulations
  6. Market Overview
  7. Global Fecal Occult Blood Tests Market, By Test Type
  8. Global Fecal Occult Blood Tests Market, By Application
  9. Global Fecal Occult Blood Tests Market, By End User
  10. Global Fecal Occult Blood Tests Market, By Distribution Channel
  11. Global Fecal Occult Blood Tests Market, By Region
  12. Global Fecal Occult Blood Tests Market: Company Landscape
  13. SWOT Analyses
  14. Company Profile
  15. Questionnaires
  16. Related Reports

Download the Complete Table of Contents @ https://www.databridgemarketresearch.com/toc/?dbmr=global-fecal-occult-blood-tests-market

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