Global Fecal Occult Testing Market to Witness Growth Through 2020, as a Result of Government Initiatives: Technavio

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LONDON–(BUSINESS WIRE)–#FecalOccultTechnavio
analysts forecast the global
fecal occult testing market 2016-2020
to grow at a CAGR
of close to 5% during the forecast period, according to their latest
report.

The research study covers the present scenario and growth prospects of
the global fecal
occult testing
market for 2016-2020. To calculate the
market size, the revenue generated from the sales of fecal occult
testing products used to perform colorectal cancer screening were taken
into consideration. The report describes the market by the following
tests which include guaiac test, fecal immunochemical test (FIT), and
stool deoxyribonucleic acid (DNA) test.

In its Cancer Report 2014, WHO reported that cancer caused 8.2
million deaths worldwide in 2012, of which colorectal cancer accounted
for 694,000 deaths.

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Technavio healthcare
and life sciences
analysts highlight the following three factors
that are contributing to the growth of the global fecal occult testing
market:

  • Rise in geriatric population
  • Government initiatives and pilot programs worldwide
  • Shift toward patient-centered model (POC FITs) for home use

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Rise in geriatric population

In 2015, the UN reported that the global geriatric
population is on the rise. In 2015, Asia had 15% population aged 80
years and above, Africa had 12%, and South America had 9%.

With growing age, the immune system of the body deteriorates, which
makes people aged 60 years and above more susceptible to chronic
diseases, such as cancer and cardiovascular diseases. In 2014, various
research studies reported colorectal cancer to be the second leading
cause of cancer-related deaths in the Americas. “Public awareness about
this cancer is limited, which is increasing its risks among people,
particularly the geriatric population,” says Srinivas Sashidhar, a lead
analyst at Technavio for medical
devices
research.

In February 2016, the CDC reported that to minimize the risks of
colorectal cancer among this population, people can opt for fecal occult
testing to check the occult blood count on a yearly basis. This will
increase the demand and sales of fecal occult testing products in both
hospital and home settings.

Government initiatives and pilot programs worldwide

The governments of various countries are adopting different initiatives
to encourage people to opt for fecal occult testing. Various government
and non-government initiatives have helped increase awareness and
research data about colorectal cancer. This presents significant
opportunities for improving cancer management. Countries such as
Australia, the UK, and the US are among the few developed countries that
have mandated colorectal cancer
check-ups in medical facilities.

Governments worldwide, are supporting fecal occult testing for
colorectal cancer screening. For instance, Exact Sciences
Cologuard, a non-invasive DNA screening test, received FDA approval in
August 2014. It is the first product to be reviewed through the joint
CMS-FDA pilot program. The FDA is likely to provide more flexible
regulatory norms and simple validation procedures for biomarkers, which
will reduce the effort of detecting colorectal cancer. These types of
favorable government initiatives will help in the demand and sales of
fecal occult testing products in the market.

Shift toward patient-centered model (POC FITs) for home use

Devices used for testing at or near the site of the patient are known as
point-of-care (POC) devices. These devices can be used at home settings,
however, people need to consult their physicians for further disease
diagnosis and treatment. The average cost of FITs for home setting is
about USD 26, however, a colonoscopy test can cost about USD 5,800.

People are adopting immunochemical tests for screening colorectal cancer
because these tests are easily manageable and user-friendly. Colorectal
cancer is the third most common disease in the UK. “The availability of
POC testing in European countries has made it easier for many people in
the age group 40 years and above to self-check for signs of colorectal
cancer. This has led to the increased sale of these devices in Europe,”
says Srinivas.

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