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Occult Blood Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

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Global Occult Blood Testing Market: Overview

Occult blood testing is one of the most adopted screening tests for colorectal cancer. This test can also give indications for disorders such as Crohn’s disease, ulcerative colitis, abnormalities in the blood vessels in the large intestine, and diverticular disease. It is capable of detecting most early colorectal cancers and is widely available, acceptable, and feasible to most individuals. In addition, it is highly cost-effective and has a low up-front cost. However, the test has low sensitivity and low specificity and therefore repetitive screening is required for it to be effective. Considering its advantages and disadvantages, the demand for occult blood tests is poised to rise gradually during the forecast period. Technological advancements in the existing setups and procedures are likely to bode well for the global occult blood testing market in the near future.

This research report meticulously studies the current as well as expected future trends of the global occult blood testing market. It performs segmentation analysis on the basis of various criteria including geography and technology. Each segment is methodically examined in terms of revenue and volume. The report provides insights into several critical aspects of the market such as its dynamics, ongoing key trends, and competitive landscape. It profiles the prominent players operating in the occult blood testing market along with their business strategies, latest developments, and revenue structures. For collating this study, a number of press releases, presentations, paid databases, journals, and white papers were referred.

Global Occult Blood Testing Market: Drivers and Restraints

The increasing incidence of gastrointestinal bleeding and colon and rectal cancer will continue to be the critical driving factor for the global occult blood testing market. It is estimated that colorectal cancer is the third most commonly diagnosed cancer. The American Cancer Society states that this type of cancer has remained second or third leading cause of cancer-related deaths across the globe. The rising emphasis on the early diagnosis of colorectal cancer is leading to the introduction of favorable government initiatives aimed at keeping this cancer under check. These initiatives are fuelling the market. Moreover, the growing awareness regarding the benefits of occult blood testing is augmenting the market. Another factor providing a fillip to the market is the increasing cases of occult blood due to rising alcohol consumption worldwide.

However, the low disposable income and the lack of self-evaluation capabilities among the population is retarding the growth rate of the occult blood testing market, particularly in developing regions. Furthermore, the lack of adequate knowledge regarding the testing technologies is hindering the growth of the market. On the other hand, the future of the market looks bright with the improving healthcare and education infrastructure along with a boost in economic conditions in developing countries.

Global Occult Blood Testing Market: Segmentation

On the basis of technology, the global occult blood testing market can be classified into biochips/microarrays, chromosome analysis, DNA probes, IT, immunoassays, and monoclonal antibodies. The regional markets analyzed in the report are North America, Asia Pacific, Europe, and Rest of the World. North America and Europe will account for noteworthy share throughout the forecast period. The presence of a large pool of patients suffering from colorectal cancer and the rapidly growing geriatric population are propelling the growth of these regions. Moreover, the launch of conducive government initiatives is anticipated to trigger the demand for occult blood tests in these regions. The growth of the Asia Pacific market for occult blood testing is supplemented by the changing lifestyles and improving economic conditions. Countries such as India and China will be predominantly responsible for the regional revenue growth.

Companies Mentioned in the Research Report:

The majority of players in the global occult blood testing market are investing heavily in the research and development of innovative testing techniques. Some of the key companies are Abbott, Becton Dickinson, Diagnocure, DiaSorin, Eiken Chemicals, Exact Sciences, Enzo Biochem, Fujirebio, GenCure, Hologic, Nanogen Elitech, ID Biomedical, Ipsogen, Life Technology, Lonza, Solvay, Thermo Fisher, Wallace, and Wako.

Major regions analyzed under this research report are:

  • Europe
  • North America
  • Asia Pacific
  • Rest of the World

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market  

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.

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