Published Date: 2020-02-17
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According to the Graphical Research new growth forecast report titled “Europe In-vitro Colorectal Cancer Screening Tests Market Share 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 (Germany, UK, France, Italy, Spain, The Netherlands, Denmark, Russia, Poland, Sweden, Norway)”, Estimated To Exceed USD 515.0 Million By 2026.
Technological advancement in colorectal cancer screening test will augment in-vitro colorectal cancer screening tests market growth in Europe. The introduction of genetic testing has improved the screening accuracy for colorectal cancer screening test. Molecular screening and DNA testing are gaining traction and are becoming an essential part of routine patient care. Also, the administrators in the European Union have addressed the introduction of transnational and national population-wide screening programs on priority for healthcare policy of individual states.
The favorable reimbursement policies for colorectal cancer screening in Europe contributes to suffice the market growth. For instance, in Germany, full insurance reimbursement is available for screening colonoscopy for individuals with the age of 55 years and above. This contributes to drive the market for in-vitro colorectal cancer screening tests in Europe region.
However, stringent government regulations for screening tests may restrict in-vitro colorectal cancer screening tests industry growth in forthcoming years.
Fecal Occult Blood Test (FOBT) market was valued at over USD 312.0 million in 2019. The cost effective and easy to use trends of the FOBT segment propel the demand for this segment in Europe. Also, the introduction of Immuno-FOBT for initial detection of colorectal cancer and advanced adenomas has improved the sensitivity and specificity of stool-based screening.
Europe in-vitro colorectal cancer screening tests market was led by Germany in-vitro colorectal cancer screening tests market and is estimated to show a definite trend throughout the forecast period. This growth is attributed to increasing use of screening test for the prevention of bowel cancer, changing lifestyles and food consumption patterns. Italy in-vitro colorectal cancer screening tests business is forecasted to grow significantly progressing at 6.1% CAGR throughout the projection timeframe. In 2012, the yearly prevalence rates for colorectal cancer was 39.9 per 100,000 women and 61.2 per 100,000 men. Improvements in diagnostic procedures and treatments, increasing cancer-related risk factors, growing aging population accounting for an increased amount of health care expenditures will propel the business size.
Key market players in Europe invitro colorectal cancer screening market are Abbott Laboratories, Beckman Coulter Diagnostics, Epigenomics Ag Corporation, EMD Millipore, among other industry contributors. These market players are undertaking strategies such as collaborations, new product development, and agreement to increase market presence and for company expansion. For instance, in July 2017, Novigenix SA signed a distribution agreement with Risch Medical Laboratory. This distribution agreement helped Novigenix SA to access the German market for the Colox product that is used for colorectal cancer test.
Europe in-vitro colorectal cancer screening tests Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Europe In-vitro Colorectal Cancer Screening Tests Market Value, By Test type, 2015 to 2026, (USD Million)
The above information is provided for the following region and countries:
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