Fecal Occult Blood Tests (FOBT) of In-Vitro Colorectal Cancer Screening Tests Market to exceed $730mn by 2023: Global Market Insights Inc. Global In-Vitro Colorectal Cancer Screening Tests Market is driven by demand for highly accurate and minimally invasive cancer screening tests. Introduction of favorable government initiatives is poised to rise the industry demand over the coming years. Colorectal cancer (CRC) yearly affects over one million women and men and causes more than half a million deaths. In-Vitro Colorectal Cancer Screening Tests Market size will exceed USD 900 million by 2023; according to a new research report by Global Market Insights, Inc. China invitro colorectal cancer screening tests market may generate over USD 35 million by 2023 due to colorectal cancer high death rates in the region over the past years.
UK and Germany in-vitro colorectal cancer screening tests market exhibits high growth due to increasing prevalence of disease. Germany in-vitro colorectal cancer screening tests market share is likely to grow at significant rate by 2023 with increasing government initiatives to improve cancer control with screening quality and healthcare funding. Fecal occult blood (FOBT) testing is the most frequently used method. It is less expensive and has grownup existence in the healthcare industry in contrast to other tests. Methylated gene testing and transferrin assays are the new DNA screening and biomarker tests. Demand for CRC DNA screening tests may increase at the highest CAGR by 2023, due to increasing R&D expenditure by major industry players in the advanced development. Immuno-FOB stool tests and transferrin assays has shown comparable accuracy owing to easy applicability and is forecast to observe rise in demand over the coming years. The use of non-invasive diagnostics for cancer screening test allows healthcare experts to conduct examinations relatively faster and with high accuracy. The entry of such technologically advanced genetic tests for cancer screening should positively affect the industry. In 2016, nearly 60% - 70% of patients were suffering from CRC at mid or late stage when they were first-time diagnosed, leading to the high death rate. Recently, Cologuard (Exact Sciences) was approved by U.S. FDA and showed high CRC sensitivity (87%) and adenomas (82%). ColoVantage (Quest Diagnostics) is estimated to achieve an overall 70% sensitivity and 89% specificity. It has successfully detected cancer at all stages. 1|Page