Preference Shifts toward Noninvasive In Vitro Colorectal Cancer Screening Tests; Fecal Occult Blood Tests Most Preferred
Transparency Market Research has recently announced the addition of a new research report examining the global in-vitro colorectal cancer screening tests market for to its vast portfolio. The report is titled “In-vitro Colorectal Cancer Screening Tests Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023” and is available on company website for sale.The report states that the market will expand at a healthy 7.5% CAGR over the report’s forecast period and will rise from a valuation of US$494.1 mn in 2014 to US$980.6 mn by 2023.
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The report states that factors such as the globally increasing geriatric population, the growing prevalence of colorectal cancer and inflammatory bowel diseases, and easy availability of advanced healthcare facilities across distant corners of the globe are contributing to the growth of the global in-vitro colorectal cancer screening tests market.
The report segments the global in-vitro colorectal cancer screening tests market on the basis of test type, screening methods in pipeline, and geography.On the basis of test type, the market has been broadly segmented into fecal occult blood tests, blood biomarkers tests, and stool biomarker tests. The segment of fecal occult blood tests has been further segmented into guaiac FOB (fecal occult blood) stool test, lateral flow immune-FOB tests, immuno-FOB agglutination test, and immune-FOB ELISA test. The segment of stool biomarkers tests has been further segmented into M2-PK stool test, cologuard, and others. The segment of blood biomarkers has been further segmented into Epi proColon, ColoSentry, Colo Vantage, mS9, and others.
Regionally, the market has been segmented into North America, Asia Pacific, Europe, Latin America, and Rest of the World. Of these, North America led the market in terms of revenue by accounting for over 35.0% of the global in-vitro colorectal cancer screening tests market in 2014. The dominance of this regional market is attributed to the high rate of health awareness among people, easy availability of advanced technologies, and the rising prevalence of colorectal cancer in the region. The increasing geriatric population and favorable healthcare reimbursement policies are also the factors driving the increased demand for in-vitro colorectal cancer screening tests in North America.
Europe accounted for the second-largest share while Asia Pacific stood third in the global in-vitro colorectal cancer screening tests market in 2014 in terms of revenue. The rising demand for technologically advanced cancer screening mechanisms and the increasing geriatric population in Europe are considered to be the primary factors driving the market for in-vitro colorectal cancer screening tests.
In Asia Pacific, rising disposable incomes, rapidly improving healthcare infrastructure, and high base of geriatric population are some of the major factors driving the increased adoption of in-vitro colorectal cancer screening tests. The market in Asia Pacific is expected to expand at a favorable 18.6% CAGR over the report’s forecast period.
The report also gives a detailed overview of the competitive landscape of the global in-vitro colorectal cancer screening tests market with the help of SWOT analysis, new project feasibility analysis, business profiles, and finance-related details of some of the major vendors in the market. Some of the major companies in the market profiled in the report are Beckman Coulter, Inc., Abbott Molecular, Inc., Quest Diagnostics, Epigenomics AG, Alere, Inc., Exact Sciences Corporation, BioTime, Inc., Sysmex Corporation, Beckman Coulter, Inc. CML Healthcare, Inc., and Novigenix SA.
Full Research Report on Global In-vitro Colorectal Cancer Screening Tests Market: