Dublin, Oct. 28, 2020 (GLOBE NEWSWIRE) -- The "GI Stool Testing Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The increasing burden of diseases related to the gastrointestinal tract and rising demand for point of care tests is expected to fuel the GI stool testing market growth.
According to the World Health Organization, diarrhea is considered the second leading cause of death in children under five years of age, and around 1.7 billion cases are recorded every year. Furthermore, there is a rising prevalence of colorectal cancer across the globe, which is expected to boost the overall growth of the market over the forecast period. Thus, this factor can increase the demand for GI stool testing to detect bacteria and parasites.
Key Market Trends
Reagent Segment is Expected to Hold a Major Market Share in the GI Stool Testing Market
Reagents are substances that are often used for examining and analyzing. Reagents are expected to dominate the GI stool testing market with developing diagnostic technology. Chemiluminant assays are used as a diagnostic aid for the detection of gastrointestinal infections. It uses enzyme-labeled antibodies for detection, which is known to give an accurate diagnosis. According to the study published by the Journal of Investigative Medicine, in 2016, laboratory-based chemiluminescent assays were used for detection H. Pylori. The sensitivity and specificity of this assay were found out to be approximately 90.1% and 92.4%.
Furthermore, the rising prevalence of diarrhea is expected to raise the demand for reagents in the GI stool testing market. According to the World Health Organization, in the European region, 14 people die because of diarrhoeal disease. Hence, it is expected to influence the GI stool testing market growth positively in this segment.
North America is Expected to Hold a Significant Share in the Market and is Expected to Witness the Same in the Forecast Period
Increasing the geriatric population and higher incidence rate of gastrointestinal diseases such as colorectal cancer is expected to influence the GI stool testing market in North America positively. According to the study published in 2019, by the Canadian Journal of Gastroenterology and Hepatology, gastrointestinal infections frequently occur in the geriatric population. Furthermore, H.pylori infection is largely diagnosed in the elderly group.
According to the Centre for Disease Control and Prevention, approximately 14,795 people were diagnosed with an ulcer in the United States. Ulcers are usually found in the lining of the stomach. H. Pylori is the main cause of these ulcers, and for its detection, usually, stool testing is performed. According to the United States Census Bureau, the population aged between 65 and 74 was found to be around 30.58 million.
Furthermore, according to the American Cancer Society, around 140,250 were diagnosed with colorectal cancer in the United States. For the diagnosis of colorectal cancer, a fecal occult blood test is performed. Thus, these factors are expected to fuel the GI stool testing market growth.
Collaborations, mergers, and acquisitions by companies related to GI stool testing are expected to boost the market growth. In 2016, Abbott Laboratories acquired Alere, Inc. to extend its diagnostics product line.
Some of the companies which are currently dominating the GI stool testing market are bioMerieux SA, DiaSorin S.p.A, Cenogenics Corporation, Abbott Laboratories, Epitope Diagnostics Inc., Genova Diagnostics, Beckman Coulter, Inc., ScheBo Biotech AG, CTKBiotech Inc. Inc., and Cardinal Health.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Gastrointestinal Diseases
4.2.2 Rising Preference of Point of Care Test
4.3 Market Restraints
4.3.1 High Cost of Instruments
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.2 By Test Type
5.2.1 Occult Blood Test
5.2.2 Ova and Parasites Test
5.2.3 Bacteria Test
5.2.4 Fecal Biomarkers Test
5.2.5 Other Test Types
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Beckman Coulter Inc.
6.1.3 bioMerieux SA
6.1.4 Cardinal Health
6.1.5 Cenogenics Corporation
6.1.6 CTK Biotech Inc.
6.1.7 Genova Diagnostics
6.1.8 Epitope Diagnostics Inc.
6.1.9 ScheBo Biotech AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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