Fecal Immunochemical Diagnostic Tests Market Volume Analysis, Segments, Value Share and Key Trends 2018 – 2028

The impact of COVID-19 pandemic can be felt across the Healthcare Industry The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.

The nature of operation in Pharmaceuticals  plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the Healthcare Industry

The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the Healthcare Industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.

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Fecal immunochemical diagnostic tests are performed for screening colorectal cancer. In Fecal immunochemical diagnostic tests, an antibody is used to detect the presence of blood in stool, which bind to a blood protein called hemoglobin found in the Red Blood Corpuscles (RBC). Positive result of fecal immunochemical diagnostic tests can be sign of colorectal cancer, polyps, ulcers, or hemorrhoids. Fecal immunochemical diagnostic tests are also known as immunochemical fecal occult blood test (iFOBT) or FIT. The blood vessels are generally fragile so they can easily be damaged, where passing of stool leads to bleeding. If the fecal immunochemical diagnostic tests results are positive, and further colonoscopy is needed for further investigation.

As per the Global Cancer Observatory (GCO), colorectal cancer (CRC) is the second most common cancer in women and the third most common in men worldwide. According to an estimation from the National Cancer Institute, in 2018 colorectal cancer is projected to contribute around 8.1% of all new cancer cases with estimated deaths around 50,630, which is 8.3% of all cancer deaths caused in the U.S. As reported by the Cancer Research UK, there were 41,804 new cases of colorectal cancer in 2015 and 16,384 deaths due to colon cancer in the U.K.

Increased adoption of fecal immunochemical diagnostic tests helps to detect the colorectal changes before turning into cancer or detect cancer in early stages of colorectal cancer. So the adoption of fecal immunochemical diagnostic tests helps to improve the treatment as well as to decline the death rate from colorectal cancer.

There are various factors fuelling the growth of the fecal immunochemical diagnostic tests market including government initiatives, rise in geriatric population and patient-centered model (POC-FIT) for home use. The rise in the geriatric population, globally, is creating huge potential for the global fecal immunochemical diagnostic tests market. As per the NIH-funded Census Bureau report in 2016, the geriatric population will more than double by 2050. In a report published in 2015, the United Nations stated that the global geriatric population is increasing. Whereas in Asia, Africa and South America 15%, 12% and 9% population is aged 80 years and above. The growing age is inversely proportional to the body’s immune system, which leads the population with 60 years and above more susceptible to chronic diseases such as cancer. Moreover, the rise in chronic diseases such as type 2 diabetes and inflammatory bowel disease along with heavy alcohol consumption and sedentary lifestyle are related to colorectal cancer. High occurrence of colorectal cancer is expected to augment the growth of the fecal immunochemical diagnostic tests market.

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In February 2016, the CDC recommended people to opt for fecal immunochemical diagnostic tests on a yearly basis to minimize the risks of colorectal cancer. This will help the fecal immunochemical diagnostic tests market to grow. Globally, various government and non-government organizations have taken various initiatives to increase awareness about colorectal cancer and necessity of fecal immunochemical diagnostic tests. Few countries such as the U.S., U.K. and Australia have mandated fecal immunochemical diagnostic tests in the medical facilities.

Fecal immunochemical diagnostic tests are more affordable and mostly adopted in the healthcare industry compared to the other tests. The average cost of a fecal immunochemical diagnostic test in a homecare setting is about US$ 25, whereas the colonoscopy test can cost about US$ 5,500. Fecal immunochemical diagnostic test is user-friendly and easily manageable, which contributes to the growth of the market.

However, the introduction of advanced techniques such as non-invasive DNA screening test and Cologuard is expected to restrain the growth of the fecal immunochemical diagnostic tests market.

To gain a comprehensive and better understanding of the future market equity, the fecal immunochemical diagnostic tests market is segmented based on product type, end user, and region.

Based on product type, the fecal immunochemical diagnostic tests market is segmented into:

  • Fecal Immunochemical Diagnostic Test (FIT) Mailer
  • Fecal Immunochemical Diagnostic Test (FIT) Cassette
  • Fecal Immunochemical Diagnostic Tests analyzer

Based on end user, the fecal immunochemical diagnostic tests market is segmented into:

  • Cancer Centers
  • Nursing Homes
  • Hospitals
  • Homecare Settings

The U.S. fecal immunochemical diagnostic tests market is projected to witness significant growth in the North America market, owing to the increased awareness and growing geriatric population. Asia Pacific, mainly China, India, and other Southeast Asian regions, and Europe are expected to remain lucrative markets for fecal immunochemical diagnostic tests during the forecast period because of the growing demand for healthcare services. The MEA fecal immunochemical diagnostic tests market is expected to witness moderate growth, due to poor healthcare infrastructure, resulting in less availability of healthcare procedures, and less per capita income resulting in less affordability.

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Examples of some of the key participants in the fecal immunochemical diagnostic tests market identified across the value chain include,

  • BTNX Inc.
  • Eiken Chemical Co., Ltd.
  • Sysmex Sverige
  • Thermo Fisher Scientific Inc.
  • Polymedco Inc
  • A. Menarini Diagnostics s.r.l
  • Kyowa Medex Co., Ltd.
  • Fujirebio Inc.
  • BioMerieux

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