Global In-Vitro Colorectal Cancer Screening Tests Market share to hit $900mn by 2023: Global Market Insights Inc. The research report “In-Vitro Colorectal Cancer Screening Tests Market Size By Test Type (Fecal Occult Blood Tests [Guaiac FOB Stool, Immuno-FOB Agglutination, Lateral Flow Immuno-FOB, Immuno-FOB ELISA], Biomarker Tests [Tumor M2-PK Stool, Transferrin Assays], CRC DNA Screening Tests [Methylated Gene Testing, Panel DNA Tests]), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023”, by Global Market Insights, Inc., says In-vitro colorectal cancer screening tests industry size is estimated to hit USD 903 million by 2023. Technological developments in healthcare to acquire accurate results in early diagnosis will propel in-vitro colorectal cancer screening tests market size over the coming years. Furthermore, government legislations mandating cancer diagnosis and screening are expected to boost the market trends. For instance, EU collaborated with IARC (International Agency for Research on Cancer) to produce the first edition of quality assurance guidelines for colorectal cancer diagnosis and screening to improve the quality of cancer diagnosis. Moreover, rise in the geriatric population base, prone to chronic diseases, along with the escalating occurrence of colon and rectal cancer is expected to favorably impact in-vitro colorectal cancer screening tests market growth over the next few years. In addition to this, growing awareness about early diagnosis of colorectal cancer will noticeably enhance the industry outlook.
Rising popularity of fecal occult blood tests is projected to boost in-vitro colorectal cancer screening tests industry share over 2016-2023: Taking into consideration the tests trends, in-vitro colorectal cancer screening tests market is segmented into biomarker tests, fecal occult blood tests, and colorectal cancer(CRC) DNA screening tests. Growing use of Immuno- fecal occult blood agglutination as well as Immuno- fecal occult blood ELISA tests for early and quick detection of colorectal cancer will boost FOB tests market size, having attained targeted revenue of over USD 500 million in 2015. Colorectal cancer (CRC) DNA screening tests market size is expected to grow at a rate of 10% over the period of 2016-2023, owing to high level of test accuracy and sensitivity.
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