The global fecal occult blood tests (FOBT) market is experiencing steady growth driven by the rising prevalence of colorectal cancer and gastrointestinal disorders worldwide. FOBTs are widely used for early detection and screening of colorectal cancer, which is one of the leading causes of cancer-related deaths globally. The market is also benefiting from increasing awareness about the importance of early cancer detection, leading to higher adoption rates of screening tests. Additionally, government initiatives and programs aimed at promoting colorectal cancer screening are further fueling market growth. Technological advancements in FOBTs, such as the development of more sensitive and specific tests, are expected to drive significant growth in the market.
The Global Fecal Occult Blood Tests Market size is projected to reach USD 2,426.86 million by 2030, with a CAGR of 5.3% during the forecast period of 2023 to 2030.
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Below are the Top Five Fecal Occult Blood Tests Companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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Quidel Corporation
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Quidel's FOBT products are designed for the early detection of colorectal cancer and other gastrointestinal disorders. Quidel's FOBT products are well-regarded in the market for their accuracy, ease of use, and rapid results. The company's focus on innovation and technology has enabled it to stay competitive in the market.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In April 2007, Quidel Corporation, a leading provider of rapid point-of-care (POC) diagnostic tests, disclosed a new supply agreement for its QuickVue iFOB (immunochemical Fecal Occult Blood) test with Laboratory Corporation of America Holdings. LabCorp's decision to standardize the QuickVue iFOB test came after comprehensive clinical evaluations of various immunochemical test products.
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2.
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Wondfo
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Wondfo's FOBT products are designed to detect the presence of blood in the stool, which can be an early indicator of colorectal cancer and other gastrointestinal disorders. Wondfo's FOBT products are known for their affordability and ease of use, making them popular in both developed and developing markets. The company's commitment to quality and innovation has helped it establish a strong presence in the market.
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Europe, America, Asia, Middle East and Africa
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In December 2021, Wondfo announced that it had acquired Shenzhen Tisenc Medical Devices. With the acquisition, the company's aim is to expand its innovative layout in the field of CLIA diagnostics.
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3.
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Siemens Healthcare Gmbh
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Siemens Healthcare's FOBT products are known for their accuracy and reliability, making them a preferred choice among healthcare professionals. The company's global presence and strong distribution network have helped it capture a significant share of the market. The company offers a range of diagnostic tests, including fecal occult blood tests (FOBT), for the early detection of colorectal cancer and other gastrointestinal disorders.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In May 2022, Siemens Healthineers GmbH launched the Carcinoembryonic Antigen (CEA) assay, an in vitro diagnostic test designed to quantitatively measure the levels of carcinoembryonic antigen in human serum and plasma (EDTA and lithium heparin). This test plays a crucial role in managing cancer patients, especially those with fluctuating CEA concentrations. Utilizing an Analyzer, this assay accurately measures CEA levels over time, providing valuable insights for monitoring cancer progression and evaluating the effectiveness of treatments.
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4.
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Eiken Chemical Co., Ltd.
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Eiken Chemical's FOBT products are known for their high sensitivity and specificity, making them reliable tools for the early detection of colorectal cancer. The company's focus on research and development has enabled it to introduce innovative products that meet the evolving needs of the market. The company's product portfolio includes fecal occult blood tests for the early detection of colorectal cancer and other gastrointestinal disorders.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In November 2022, Eiken Chemical Co, Ltd. had launched the fully automated fecal immunochemical test/ Faecal Calprotectin Analyzer “OC-SENSOR Ceres”. This has helped the company to establish its product globally.
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5.
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Biohit Oyj
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Biohit Oyj's FOBT products are known for their high accuracy and ease of use, making them a preferred choice among healthcare professionals. The company's commitment to quality and innovation has helped it establish a strong presence in the market. The company's product portfolio includes fecal occult blood tests (FOBT) for the early detection of colorectal cancer and other gastrointestinal disorders.
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Europe, America, Asia, Middle East and Africa
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In November 2014, BIOHIT introduced the ColonView quick test, designed for the easy detection of fecal occult blood (FOB) in stool samples. This rapid test relies on highly sensitive immunochemical detection of hemoglobin and hemoglobin/haptoglobin complex, primarily used to screen for lower gastrointestinal (GI) pathologies such as colorectal cancers and large adenomas that bleed.
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Conclusion
The global fecal occult blood tests (FOBT) market is poised for continued growth, driven by the increasing prevalence of colorectal cancer and gastrointestinal disorders worldwide. Factors such as rising awareness about the importance of early cancer detection and government initiatives promoting screening programs are contributing to market expansion. Despite challenges like limited access to healthcare in certain regions and competition from alternative screening methods, technological advancements in FOBTs are expected to drive significant market growth. As the demand for effective and non-invasive cancer screening methods continues to rise, the FOBT market is likely to witness further innovation and adoption, presenting opportunities for companies in this space to expand their product offerings and market reach.
