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Increase in Demand for POC Testing to Boost the Fecal Occult Testing Market| Technavio

May 16, 2018

Technavio has published a new market research report on the global fecal occult testing market from 2018-2022. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--May 16, 2018-- projects the to post a CAGR of close to 5% during the forecast period, 2018-2022. The rise in the number of elderly people is a key driver, which is expected to impact market growth.

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Technavio has published a new market research report on the global fecal occult testing market from 2018-2022. (Graphic: Business Wire)

The rise in elderly population has resulted in increased expenditure on healthcare for health checkups, disease diagnosis, and treatment. The most common health problems affecting older adults include Alzheimer’s disease, digestive disorders, cardiovascular diseases, bone and joint diseases, diabetes, and different types of cancer. Older people require diagnostic testing on a regular basis owing to their low immunity and metabolism. These factors have increased the demand for fecal occult testing techniques for diagnosing diseases.

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In this report, Technavio highlights the increase in demand for POC testing as one of the key emerging trends in the global fecal occult testing market:

Increase in demand for POC testing

The diagnostics market is undergoing revolutionary changes with devices becoming smaller in size, customary focal research centers moving closer to patient locales, and growing test offerings due to the increasing adoption of multiparameter monitoring devices. Another significant change in this sector is the shift toward POC diagnostics or testing. Devices that are used for testing at or near the patient’s residence are known as POC devices. These devices can be used in laboratories, hospitals, and clinics. Therefore, demand for fecal occult POC testing is also increasing as it needs leaner processes and fewer steps to produce the result and eliminates processing and aliquoting as well as the need to transport the specimen to the core laboratory and communicate results to the clinical staff.

“In addition, the average cost of POC is much less as compared to other diagnostic tests. For instance, a POC FIT is below USD 30 while a colonoscopy test can cost more than USD 1,000. Thus, people are adopting POC FITs to screen for colorectal cancer because these tests are easily accessible and more user-friendly. Hence, the growing significance of POC diagnostics will drive the growth of the global fecal occult testing market in the future,” says a senior analyst at Technavio for research .

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Market segmentation and analysis through 2022

This market research report segments the by end-user (hospitals, physicians’ office laboratories, and clinical diagnostic laboratories) and key regions (the Americas, APAC, and EMEA).

In 2017, the global fecal occult testing market was led by the Americas, which accounted for a close to 42% of the market share owing to the growing number of older people who need diagnostic procedures. The Americas was followed by EMEA and APAC. The growing incidence of diseases such as colorectal cancer and the shift towards preventive and personalized healthcare are factors leading to the growth of the market.

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20180516005720/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: SENIORS HEALTH MEDICAL DEVICES ONCOLOGY CONSUMER MEDICAL SUPPLIES

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 05/16/2018 08:34 AM/DISC: 05/16/2018 08:34 AM

http://www.businesswire.com/news/home/20180516005720/en

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