July 25, 2024
Fecal Calprotectin Test Market

Rising Demand for Accurate Diagnostic Tools to Drive Growth of the Global Fecal Calprotectin Test Market

The global Fecal Calprotectin Test Market is estimated to be valued at US$ 140.6 Mn in 2023 and is expected to exhibit a CAGR of 12.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Fecal calprotectin is a protein found in the white blood cells of the immune system that are present in the intestine. Increased levels of calprotectin in the stool is used as a biomarker for intestinal inflammation caused by conditions such as inflammatory bowel disease (IBD). Fecal calprotectin tests help in non-invasive diagnosis and monitoring of IBD by detecting calprotectin levels in stool samples. The tests offer accurate, quantitative measurement of calprotectin levels compared to subjective examinations. They aid in differentiating IBD from irritable bowel syndrome and help monitor response to treatment in IBD patients.

Market key trends:

Rise in prevalence of IBD worldwide is a key factor driving the fecal calprotectin test market. According to the Crohn’s and Colitis Foundation, an estimated 3 million American suffer from IBD. In Europe, prevalence is 247 per 100,000 persons and in Canada incidents is 19.2 per 100,000. Moreover, non-invasive nature and accuracy of fecal calprotectin tests compared to colonoscopies for IBD diagnosis is boosting adoption. Technological advancements introducing rapid test kits and automated readers with minimal sample requirements is further fueling the market growth. Growing awareness regarding IBD and increasing healthcare expenditures in developing nations also present lucrative opportunities. However, alternative non-invasive biomarkers and lack of insurance coverage in some regions may restrain the market to a certain extent.

Porter’s Analysis

Threat of new entrants: New players find it difficult to enter the market due to established brands, regulations, and high overall investment required to start operations.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute tests and presence of established players.

Bargaining power of suppliers: A few key players dominate the supply side, giving them moderate bargaining power over buyers.

Threat of new substitutes: Alternative tests for inflammatory bowel disease are present but calprotectin tests have established clinical validity, presenting low threat.

Competitive rivalry: The market has the presence of few major players leading to high competition.

Key Takeaways

The Global Fecal Calprotectin Test Market Size is expected to witness high growth, exhibiting a CAGR of 12.3% over the forecast period, due to increasing prevalence of inflammatory bowel diseases.

Regional analysis: North America dominates the global market owing to increasing healthcare investments and awareness. Asia Pacific is expected to exhibit fastest growth due to growing medical tourism and economic development in countries such as China and India.

Key players: Key players operating in the Fecal Calprotectin Test Market are Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Becton, Dickinson and Company, Abbexa Limited, Bioserv Diagnostics Gmbh, Epitope Diagnostics, Inc., LifeSpan BioSciences, Inc., RayBiotech, Inc., ALPCO. Thermo Fisher Scientific Inc. holds leading market share owing to its wide product portfolio and global presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it