According to a research report by Stratview Research, the growing healthcare awareness and rising healthcare expenditure by the government & private sector are likely to bolster the product demand. The increasing prevalence of GI health disorders owing to rising consumption of fast food, stress & hectic lifestyle, as well as the growing geriatric population who are highly susceptible to GI infections, are some of the factors proliferating the market growth. Furthermore, significant R&D investment in the field of GI stool testing is expected to offer lucrative opportunities to the market participants. However, stringent rules & regulations associated with GI stool testing and lack of skilled personnel are some of the restraining factors impacting the market growth.
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Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Segments’ Analysis
Stratview Research has segmented the “GI Stool Testing Market”By Product (Instruments, Reagents), By Test Type (Occult Blood Test, Ova and Parasites Test, Bacteria Test, Fecal Biomarkers Test, Other Test Types), By End Use (Hospitals, Diagnostic Centers And Laboratories, Academic Institutions, Research Centers & Organizations, Home) and Region
Based on the product, the global GI stool testing market has been bifurcated into instruments and reagents. Among these, the reagents segment accounted for the highest market share in 2020 and is likely to register a steady CAGR during the review period. Reagents are substances used for analyzing and examining the stools. They are specific biological components that have the superior ability to detect the presence of pathogenic agents in a patient’s blood sample, thus growing GI disordered results in segment growth.
By region, the North America market witnessed the highest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to rising healthcare expenditure, presence of major healthcare companies, rising fast food consumption, changing lifestyle, and increasing senior population, promulgate the product region in the region. Moreover, rising consumer awareness, FDA approvals for GI stool tests and instruments, and increasing product launches further boosts the regional growth.
Leading Players Covered in the GI Stool Testing Market Report:
- Abbott Laboratories (The US),
- Beckman Coulter Inc. (The US),
- bioMerieux SA (France),
- Cardinal Health (The US),
- Cenogenics Corporation (The US),
- CTK Biotech Inc. (The US),
- Genova Diagnostics (The US),
- Epitope Diagnostics Inc. (The US),
- ScheBo Biotech AG (Germany), and
- MERIDIAN BIOSCIENCE INC. (The US).
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