In Vitro Colorectal Cancer Screening Tests Market drivers of growth analyzed in a new research report
Category: #business  By Rahul Varpe  Date: 2020-03-20
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In Vitro Colorectal Cancer Screening Tests Market drivers of growth analyzed in a new research report

In-vitro Colorectal Cancer Screening Tests Market will exceed USD 1.3 billion by 2025; as per a new research report.Increasing geriatric population base, at higher risk of acquiring colorectal cancer will drive in-vitro colorectal cancer screening tests market growth. Adoption of sedentary lifestyle along with an increase in chronic conditions like type 2 diabetes, inflammatory bowel disease and obesity will boost colorectal cancer incidence. Increased incidence and improved diagnostics tests will contribute to market growth.

Fecal occult blood tests (FOBT) accounted for 83.8% revenue share in 2018 and is estimated to grow with the robust CAGR of 4.7%. The cost effectiveness and ease of use pertaining to the FOBT tests will primarily drive the segment growth over the forecast timeframe. Immuno-FOB agglutination and test Immuno-FOB ELISA sub segments are majorly contributing to the growth of the segment. Furthermore, increasing specificity and sensitivity of stool-based test will further boost the adoption rates rendering significant positive impact on the market growth.

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Immuno-FOB agglutination and test Immuno-FOB ELISA are the major revenue generating segment in fecal occult blood. Cost effective tests and easy to use, are the major factors driving In-vitro colorectal cancer screening test market growth over the forecast period. Stool-based screening sensitivity and specificity has been improved due to introduction of Immuno-FOBT for initial detection of colorectal cancer and advanced adenomas.

Increasing geriatric population, greater susceptibility of the elderly towards disease acquisition will drive the North America in-vitro colorectal cancer screening tests market. Europe in-vitro colorectal cancer screening tests market was valued at USD 337.4 million in 2018 and is expected to grow at a CAGR of 5.0% by 2025. Growing risk factors like age, race, changing behavior associated with high-income countries, such as western diet, sedentary lifestyle and smoking are the major factors causing colorectal cancer. The prevalence of these factors is reflected in the substantial variation in colorectal cancer incidence worldwide, which is highest in Europe and North America

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The major industry players in the in-vitro colorectal cancer screening tests market are Siemens Healthcare, Abbott Molecular, EMD Millipore, Qiagen, Alere, Beckman Coulter and Eiken Chemical among others. Competition among the firms is essentially centered around quality and price of the products. Furthermore, the firms are focusing on rigorous research and development activities to develop advanced tests capable of delivering accurate results instantly.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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