PUBLISHER: The Business Research Company | PRODUCT CODE: 1425455
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425455
Faecal Extraction Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on faecal extraction systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for faecal extraction systems? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The faecal extraction systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A fecal extraction system is a tool or apparatus designed for collecting fecal samples to identify potential pathogens, microbes, or parasite elements present within the stool.
The primary assays within fecal extraction systems encompass calprotectin, albumin, hemoglobin, and bile acids. Calprotectin, for instance, is a biochemical measurement used to detect protein levels in stools, aiding in identifying inflammation within the intestines. Various analysis methods such as microscopic, chemical, immunological, and microbiological tests are employed to detect indications like parasitic infections, viral infections, bacterial presence, and issues related to poor nutrient absorption. These systems find application across diverse end-user settings, including diagnostic centers, hospitals, clinics, ambulatory care facilities, and research centers.
The faecal extraction systems market research report is one of a series of new reports from The Business Research Company that provides faecal extraction systems market statistics, including faecal extraction systems industry global market size, regional shares, competitors with a faecal extraction systems market share, detailed faecal extraction systems market segments, market trends, and opportunities, and any further data you may need to thrive in the faecal extraction systems industry. This faecal extraction systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The faecal extraction systems market size has grown steadily in recent years. It will grow from $1.64 billion in 2023 to $1.7 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. Historical growth can be attributed to a combination of factors including ethical concerns and stringent regulations, economic conditions, disruptions in research activities, the substantial impact of COVID-19, and the rising prevalence of inflammatory bowel disease (IBD).
The faecal extraction systems market size is expected to see steady growth in the next few years. It will grow to $2.04 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The anticipated growth in the forecast period is driven by efforts toward sustainable recovery, the establishment of regional dominance, government backing, and increased investments in research, particularly in the context of post-COVID recovery. Major trends expected during this period revolve around product innovations, shifts in marketing strategies and channels, the influence of market players, fluctuations in economic conditions, and the impact of technological advancements on the industry.
The rising incidence of inflammatory bowel disease (IBD) is poised to be a significant driver in the growth of the faecal extraction systems market. IBD encompasses a group of chronic inflammatory disorders affecting the digestive tract. Faecal extraction systems play a crucial role in diagnosing, monitoring disease activity, guiding treatment, predicting disease relapse, and assessing post-operative recurrence in IBD. As the prevalence of inflammatory bowel disease surges, there's a heightened demand for faecal extraction systems. For instance, a report by BioMed Central in May 2021 projected a substantial increase in IBD prevalence by 2035 across various regions. Iran is estimated to witness a 2.5-fold rise to 69 thousand cases, while North Africa and the Middle East may experience a 2.3-fold increase, totaling 220 thousand cases. Furthermore, India anticipates a fourfold increase, reaching 2.2 million cases. Thus, the escalating prevalence of inflammatory bowel disease is expected to drive the growth of faecal extraction systems in the market.
The escalating expenditure in the healthcare sector is anticipated to be a driving force behind the growth of the faecal extraction systems market. Healthcare expenditure refers to the overall costs incurred in healthcare, represented as a percentage of GDP. This increased spending facilitates the development of faecal extraction system devices, thereby fostering the demand for such systems. For instance, according to the 2021-2030 National Health Expenditure (NHE) report by the Centers for Medicare & Medicaid Services in March 2022, there's a projected annual increase of 5.1% in national health spending, reaching nearly $6.8 trillion by 2030. The report also forecasts a 7.2% annual rise in Medicare spending and a 5.6% annual rate increase in Medicaid spending from 2021 to 2030. Consequently, the surge in healthcare spending is propelling the growth of the faecal extraction systems market.
Leading companies in the faecal extraction systems market are innovating by developing products like fecal DNA tests to cater to larger customer bases, drive sales, and enhance revenue. Fecal DNA tests are non-invasive diagnostic procedures analyzing DNA extracted from stool samples. For instance, in March 2023, BGI Genomics, in collaboration with Zentya, unveiled COLOTECT 1.0, a pioneering fecal DNA test for colorectal cancer in Slovakia. This non-invasive test detects colorectal cancer and precancerous lesions by utilizing multiplex methylation-specific PCR technology, enabling the identification of abnormal DNA-methylation biomarkers from fecal samples.
Leading companies in the faecal extraction systems market are also innovating with products like colorectal cancer (CRC) screening tests, aimed at expanding their customer base, boosting sales, and increasing revenue. These screening tests are designed to detect colorectal cancer or precancerous conditions in individuals without symptoms. For example, in November 2023, Guardant Health introduced Shield, a blood-based colorectal cancer (CRC) screening test. The Shield assay identifies specific DNA characteristics indicative of cancer presence and demonstrated its efficacy in detecting colorectal cancer in average-risk individuals through the ECLIPSE registrational study, involving over 20,000 participants in the United States.
In April 2022, GeneProof, a biotechnological company based in the Czech Republic, completed a merger with ALPCO. The financial terms of the merger were not disclosed. This strategic union strategically positions the combined entity as a global leader in both immunodiagnostics and molecular diagnostics. Together, they offer an extensive range of reagents and proprietary automated sample-to-answer solutions across various tests. The merger combines the robust portfolios of ALPCO and GeneProof, providing customers with a comprehensive array of methods and tests tailored to their specific needs and missions. ALPCO, a US-based provider specializing in molecular and immunodiagnostic products, contributes to this combined entity's enhanced capabilities, fostering flexibility for customers in selecting diagnostic methods that best align with their objectives.
Major companies operating in the faecal extraction systems market report are American Laboratory Products Co. Ltd., Alpha Laboratories Ltd., Arbor Assays, bioMerieux SA, Buhlmann Laboratories AG, Calpro AS, Cancax Biotech SL, DRG Instruments GmbH, Promega Corporation, Werfen SA, Mobidiag Oy, AutoGen Inc., Microbiome Research Pvt. Ltd., Biohit Healthcare Ltd., Meridian Bioscience Inc., Quidel Corporation, DiaSorin SpA, Sekisui Diagnostics LLC, Hologic Inc., Abbott Laboratories, Roche Diagnostics Corporation, Siemens Healthineers, Beckman Coulter Inc., Cepheid Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., GenMark Diagnostics Inc., Luminex Corporation, Nanosphere Inc., OraSure Technologies Inc., QIAGEN NV, Quest Diagnostics Incorporated, Randox Laboratories Ltd., Sysmex Corporation, Thermo Fisher Scientific Inc., and Trinity Biotech plc.
North America was the largest region in the faecal extraction systems market in 2023. The regions covered in the faecal extraction systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the faecal extraction systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The faecal extraction system market consists of sales of stool pre-processing devices, and stool extraction devices,. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.