(MENAFN- GlobeNewsWire - Nasdaq) The Global GI Stool Testing market Size was Valued at USD 580.0 Million in 2023 and the Worldwide GI Stool Testing Market Size is Expected to Reach USD 1195 Million by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Abbott Laboratories, Genova Diagnostics, Danaher Corporation, bioMerieux SA, Cardinal Health, Diasorin, Conegenics Corporation, Epitope Diagnostics Inc., Cardinal Health, CTKBiotech Inc., ScheBO Biotech AG, MERIDIAN BIOSCIENCE INC., and Other key vendors.
New York, United States , Aug. 21, 2024 (GLOBE NEWSWIRE) -- The Global GI Stool Testing Market Size is Expected to Grow from USD 580.0 Million in 2023 to USD 1195 Million by 2033, at a CAGR of 7.50% during the forecast period 2023-2033.
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GI stool testing is the process of diagnosing disorders or infections of the digestive tract using stool or feces samples. Gastrointestinal (GI) illnesses are quite widespread in the general population and can have severe effects on digestive health. GI problems include malabsorption, colon inflammation, and cancer, among others. GI stool tests are used to diagnose GI tract disorders, parasite infections, and bleeding blockages. A gastrointestinal infections (GI) panel examines a stool sample for bacteria, viruses, and parasites that are common causes of GI disease. Stool tests are used by healthcare practitioners to diagnose colon cancer, infections, inflammatory bowel disease, gastroesophageal reflux disease (GERD), and other gastrointestinal diseases. GI stool testing tools, such as an occult blood test, parasites test, bacteria test, and fecal biomarkers test, are used to detect and treat certain gastrointestinal illnesses. The GI stool testing market is expanding rapidly as the prevalence of gastrointestinal diseases rises. The expanding baby boomer population suffering from gastrointestinal diseases has boosted demand for diagnostic methods, pushing the market landscape. Gastrointestinal issues such as digestive tract bleeding, ulcers, chronic pancreatitis, ulcerative colitis (UC), inflammatory bowel disease (IBD), and abnormal GI tract growth all contribute to a high disease burden. These illnesses increase healthcare costs and diminish the quality of life. However, the restraining factors in the GI stool testing market are limited awareness among users and healthcare providers, cost and reimbursement challenges, technical complexity, regulatory hurdles, competition from alternative diagnostics, variability in test accuracy, patient comfort issues, limited adoption in developing regions, and privacy concerns related to humiliation.
Browse key industry insights spread across 280 pages with 110 Market data tables and figures & charts from the report on the " Global GI Stool Testing Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Consumables, Analyzers), By Test Type (Occult Blood Tests, Ova and Parasites Test, Fecal Biomarkers Tests), By Application (Infection, Inflammatory Bowel Disease, Gastroesophageal Reflux Disease, Cancer, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The consumables segment is predicted to hold the largest market share through the forecast period.
Based on the product type, the GI stool testing market is classified into consumables and analyzers. Among these, the consumables segment is predicted to hold the largest market share through the forecast period. The consumables segment is attributed to an increase in demand for GI illness diagnostic reagents and test kits, which are used to detect and screen a wide range of GI health problems, including infection, inflammatory bowel disease, and cancer. Market players are focusing on developing reagents to address the rising and changing needs of GI testing in diagnostic centers and hospitals.
The occult blood tests segment is anticipated to hold the highest market share during the projected timeframe.
Based on the test type, the GI stool testing market is divided into occult blood tests, ova and parasite tests, and fecal biomarkers tests. Among these, the occult blood tests segment is anticipated to hold the highest market share during the projected timeframe. This segment's dominant position is due to its widespread usage in detecting gastrointestinal bleeding, which is a common symptom in a variety of digestive disorders and cancers, and contributes significantly to market revenue. This is largely owing to a significant increase in the preference for early diagnosis and better therapy outcomes among patients suffering from gastrointestinal illnesses such as cancer, polyps, ulcers, or hemorrhoids.
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North America is estimated to hold the largest share of the GI stool testing market over the forecast period.
North America is estimated to hold the largest share of the GI stool testing market over the forecast period. The North American region's supremacy is most likely attributable to modern healthcare infrastructure, the presence of key industry players, high diagnostic technology adoption rates, and a large population that requires gastrointestinal testing. Furthermore, significant firms in the country, including Abbott Laboratories, Cardinal Health, and Meridian Bioscience Inc., are engaged in new product development and commercialization, promoting industrial expansion in the United States.
Asia Pacific is predicted to have the highest CAGR growth in the GI stool testing market over the forecast period. Increased healthcare expenditure, improvements in healthcare infrastructure, greater awareness about gastrointestinal health, technical breakthroughs in diagnostics, and a higher prevalence of gastrointestinal problems in the region all contribute to the growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the GI stool testing market include Abbott Laboratories, Genova Diagnostics, Danaher Corporation, bioMerieux SA, Cardinal Health, Diasorin, Conegenics Corporation, Epitope Diagnostics Inc., Cardinal Health, CTKBiotech Inc., ScheBO Biotech AG, MERIDIAN BIOSCIENCE INC., and Others.
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Recent Developments
In May 2024 , the FDA approved ColoSense, a noninvasive, multitarget stool RNA test, as a screening tool for individuals 45 years and older with an average risk of colorectal cancer.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the GI stool testing market based on the below-mentioned segments:
Global GI Stool Testing Market, By Product Type
Global GI Stool Testing Market, By Test Type
Occult Blood Tests Ova and Parasites Test Fecal Biomarkers Tests
Global GI Stool Testing Market, By Application
Infection Inflammatory Bowel Disease Gastroesophageal Reflux Disease Cancer Others
Global GI Stool Testing Market, By Regional Analysis
North America Europe Germany UK France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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