The
research report “In-Vitro Colorectal
Cancer Screening Tests Market Size By Test Type
(Fecal Occult Blood Tests [Guaiac FOB Stool, Immuno-FOB Agglutination, Lateral
Flow Immuno-FOB, Immuno-FOB ELISA], Biomarker Tests [Tumor M2-PK Stool,
Transferrin Assays], CRC DNA Screening Tests [Methylated Gene Testing, Panel
DNA Tests]), Industry Analysis Report, Regional Outlook (U.S., Canada, UK,
Germany, Japan, China, Brazil, Mexico, South Africa), Application Potential,
Price Trends, Competitive Market Share & Forecast, 2016 – 2023”, by Global Market
Insights, Inc., says In-vitro colorectal cancer screening tests industry size
is estimated to hit USD 903 million by 2023.
Technological
developments in healthcare to acquire accurate results in early diagnosis will
propel in-vitro colorectal cancer screening tests market size over the coming
years. Furthermore, government legislations mandating cancer diagnosis and
screening are expected to boost the market trends. For instance, EU
collaborated with IARC (International Agency for Research on Cancer) to produce
the first edition of quality assurance guidelines for colorectal cancer
diagnosis and screening to improve the quality of cancer diagnosis. Moreover,
rise in the geriatric population base, prone to chronic diseases, along with
the escalating occurrence of colon and rectal cancer is expected to favorably
impact in-vitro colorectal cancer screening tests market growth over the next
few years. In addition to this, growing awareness about early diagnosis of
colorectal cancer will noticeably enhance the industry outlook.
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The
differentiating factor of in-vitro colorectal cancer screening tests market report by Global Market
Insights, Inc. when compared with other, similar syndicated research studies
includes a 360-degree synopsis of trends for a period of more than 10 years
including historic information as well as future outlook. Business focussed
multiple trends for in-vitro colorectal cancer screening tests industry are
discussed along with regional trends to offer an overall view of the market.
The ‘industry insights’ chapter of this research provides the most
comprehensive analysis of in-vitro colorectal cancer screening tests market
covering segmentation, size, forecasts, ecosystem analysis and more. Industry
impact forces (regional and global) that cover growth drivers and challenges,
growth potential analysis, a strategy dashboard for competitive landscape of in-vitro
colorectal cancer screening tests market support this sector specific data and
information points.
Rising
popularity of fecal occult blood tests is projected to boost in-vitro
colorectal cancer screening tests industry share over 2016-2023:
Taking
into consideration the tests trends, in-vitro colorectal cancer screening tests
market is segmented into biomarker tests, fecal occult blood tests, and
colorectal cancer(CRC) DNA screening tests. Growing use of Immuno- fecal occult
blood agglutination as well as Immuno- fecal occult blood ELISA tests for early
and quick detection of colorectal cancer will boost FOB tests market size,
having attained targeted revenue of over USD 500 million in 2015. Colorectal
cancer (CRC) DNA screening tests market size is expected to grow at a rate of
10% over the period of 2016-2023, owing to high level of test accuracy and
sensitivity.
Asia Pacific is expected to drive in-vitro colorectal cancer screening tests industry revenue by 2023:
Considering
the regional outlook, North America in-vitro colorectal cancer screening tests
market, which dominated the regional landscape in 2015, is projected to witness
a considerable growth over the coming years, driven by rise in healthcare
spending, enhanced healthcare amenities, high level of patient awareness, and
introduction of supportive government legislations related to screening tests.
U.S. is expected to be a key regional revenue pocket.
Moreover,
recommendation of introducing effective screening tests in healthcare sector by
EU along with favorable changes in existing tests will drive Europe in-vitro
colorectal cancer screening tests industry revenue over the coming years. In
addition to this, the growing significance of colorectal cancer screening tests
in Europe has significantly reduced the mortality rate. Germany is forecast to
make significant contributions towards the regional share.
Market
players will try to increase regional presence through strategic alliances and
exploration of untapped opportunities in emerging economies. Key industry
participants include Eiken Chemical Company Limited, Abbott Molecular,
CompanionDx Reference Lab LLC, Alere Incorporation, Sysmex Corporation, Quest
Diagnostics, Beckman Coulter, Merck Millipore Corporation, and Epigenomics AG.
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