Westford, USA, July 04, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the In-Vitro Colorectal Cancer Screening Tests market, adoption of liquid biopsy for colorectal cancer screening, development of personalized medicine approaches, integration of artificial intelligence and machine learning in screening tests, emergence of multi-cancer screening tests, increasing use of genetic and molecular markers for early detection, emphasis on non-invasive and stool-based screening methods, utilization of next-generation sequencing for improved accuracy, growing importance of telemedicine and remote monitoring in cancer screening, are the trends that aid in the market's growth.
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Browse in-depth TOC on "In-Vitro Colorectal Cancer Screening Tests Market"
- Pages - 200
- Tables - 72
- Figures - 75
In-vitro colorectal cancer screening tests are tests that are performed outside of the body to detect colorectal cancer. These tests are used to screen for colorectal cancer in people who are at increased risk for the disease, such as those over the age of 50. There are a variety of in-vitro colorectal cancer screening tests available, including fecal occult blood tests, immunochemical tests, and DNA-based tests. These tests can help to detect colorectal cancer early, when it is most treatable.
Prominent Players in In-Vitro Colorectal Cancer Screening Tests Market
- Abbott Molecular
- Epigenomics AG
- Novigenix
- Sysmex Corporation
- Eiken Chemical
- Quest Diagnostics
- BioMarCare Technologies
- Randox Laboratories
- OncoCyte Corporation-Bio time
- Exact Sciences Corporation
- Immunostics
- Beckman Coulter, Inc.
- Hologic, Inc.
- Myriad Genetics, Inc.
- QIAGEN N.V.
- Prometheus Laboratories, Inc.
- Guardant Health, Inc.
- Exact Sciences Corporation
- Grail, Inc.
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Fecal Immunochemical Tests (FIT) and Stool DNA Tests (sDNA) Demand to Grow Substantially in the Forecast Period
Fecal Immunochemical Tests (FIT) and Stool DNA Tests (sDNA) dominated the global online market as they are widely used due to their convenience and non-invasiveness. These non-invasive tests have been embraced by patients and healthcare providers alike due to their convenience, lower risk, and ability to detect early-stage colorectal cancer or precancerous lesions. As a result, they have seen significant growth in adoption rates.
Early Detection and Diagnosis is the Leading Application Segment
In terms of application, early detection and diagnosis is the leading segment due to the increasing demand for positive patient outcomes. In addition, early detection can reduce the need for extensive and expensive cancer treatments. By identifying colorectal cancer at an early stage, patients may require less aggressive therapies, leading to cost savings for both patients and healthcare systems.
North America is the leading Market Due to the High Healthcare Expenditure
Region-wise, North America is one of the largest growing markets with a huge emphasis on high healthcare expenditure. The region is known for its well-developed healthcare infrastructure, including hospitals, diagnostic laboratories, and research institutes. These facilities are equipped with state-of-the-art screening technologies, making it easier to offer and perform in-vitro colorectal cancer screening tests.
A recent report thoroughly analyzes the major players operating within the In-Vitro Colorectal Cancer Screening Tests market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for In-Vitro Colorectal Cancer Screening Tests.
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Key Developments in In-Vitro Colorectal Cancer Screening Tests Market
- In March, Illumina, Inc. acquired Grail, Inc. for $8 billion. Grail, Inc. is a privately held company that develops and markets a blood-based cancer screening test called Galleri.
- In April, Beckman Coulter, Inc. acquired Luminex Corporation for $1.7 billion. Luminex Corporation is a privately held company that develops and markets a multiplexed immunoassay platform that can be used for a variety of applications, including colorectal cancer screening.
Key Questions Answered in In-Vitro Colorectal Cancer Screening Tests Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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