Albany, NY -- (SBWIRE) -- 11/27/2015 -- According to a new market report published by Transparency Market Research In-vitro Colorectal Cancer Screening Tests Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023", the global in-vitro colorectal cancer screening tests market was valued at US$494.1 mn in 2014 and is anticipated to reach US$980.6 mn by 2023, expanding at a CAGR of 7.5% during the forecast period from 2015 to 2023.

Browse the full In-vitro Colorectal Cancer Screening Tests (Fecal Occult Tests: Guaiac FOB Stool, Immuno-FOB Agglutination, Lateral Flow Immuno-FOB, Immuno-FOB ELISA; Stool Biomarker Tests: ColoGuard, M2-PK Stool Test, and Others; Blood Biomarker Tests: ColonSentry, ColoVantage, Epi proColon, mS9, and Others) Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023 report at http://www.transparencymarketresearch.com/in-vitro-colorectal-cancer-screening-tests-market.html

Increase in the geriatric population, rise in prevalence of colorectal cancer, high prevalence of inflammatory bowel disease, and easy access to health care facilities contribute to the growth of the in-vitro colorectal cancer screening tests market. Geographically, the in-vitro colorectal cancer screening tests market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Rest of the World. North America accounted for the largest share of the in-vitro colorectal cancer screening tests market in 2014, followed by Europe.

In terms of revenue, North America was the largest market for in-vitro colorectal cancer screening tests, and accounted for a share of over 35.0% of the global market in 2014. Dominance of North America has been attributed to rise in health awareness among the population, the scope of expansion of clinical laboratories, rapid introduction of advanced technological implementations, and increase in incidence of colorectal cancer. Additionally, rise in geriatric population and availability of various reimbursement policies from public and private health insurance firms fuel the growth of the in-vitro colorectal cancer screening tests market in North America. The U.S. dominated the in-vitro colorectal cancer screening tests market in North America. Positive initiatives by the U.S. Government are anticipated to boost market growth during the forecast period.

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Europe was the second largest market for in-vitro colorectal cancer screening tests in 2014. Major countries in Europe such as the U.K., Germany, France, Russia, Spain, Italy, Switzerland, the Netherlands, Portugal, and Belgium accounted for a majority share of the in-vitro colorectal cancer screening tests market in Europe in 2014. Key factors driving the growth of the market in Europe are rising demand for technologically advanced products, easy adoption of screening tests, increasing geriatric population, and growing health care awareness. Germany is considered to be a promising market for in-vitro colorectal cancer screening tests due to increase in acceptance of technologically advanced products, rise in geriatric population, growth in incidence of colorectal cancer, and cost-effective screening tests.

Asia Pacific was the third largest market for in-vitro colorectal cancer screening tests in terms of revenue in 2014. However, the market in the region is expected to expand at a CAGR of 18.6% during the forecast period from 2015 to 2023. Factors attributed to the rapid growth of the in-vitro colorectal cancer screening tests market in Asia Pacific are constant rise in the geriatric population, increase in the prevalence of colorectal cancer and inherited syndrome, and surge in health care expenditure. Rest of Asia Pacific dominated the in-vitro colorectal cancer screening tests market in Asia Pacific due to developing health care infrastructure and rise in awareness related to colorectal cancer. Rest of Asia Pacific comprises South Korea, Malaysia, Singapore, Indonesia, Thailand, Vietnam, Taiwan, and the Philippines, among other countries. The in-vitro colorectal cancer screening tests market in Latin America and Rest of the World is expected to expand at moderate growth rate during the forecast period due to the gradually improving financial stability, high prevalence of colorectal cancer, and introduction of non-invasive screening tests in the region.

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Abbott Molecular, Inc., Alere, Inc., Beckman Coulter, Inc., Epigenomics AG, Sysmex Corporation, Quest Diagnostics, Exact Sciences Corporation, Novigenix SA, CML Healthcare, Inc., and BioTime, Inc. are the major players operating in the global in-vitro colorectal cancer screening tests market. Quest Diagnostics and Beckman Coulter, Inc. are the market leaders.

The global in-vitro colorectal cancer screening tests market is segmented as follows:

Global In-vitro Colorectal Cancer Screening Market, by Tests
Fecal Occult Blood Tests
Guaiac FOB Stool Test
Immuno-FOB agglutination test
Lateral Flow Immuno-FOB Test
Immuno-FOB ELISA test
Stool Biomarkers Tests
Cologuard
M2-PK Stool Test
Others
Blood Biomarkers Market
ColoSentry
ColoVantage
Epi proColon
mS9
Others
Global In-vitro Colorectal Cancer Screening Market, by Pipeline
MarCarePlex
Cologic
Colox
miRSIGN
PanC – Dx
MeScore CRC
Global In-vitro Colorectal Cancer Screening Market, by Geography
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
Rest of Asia Pacific
Latin America (LATAM)
Brazil
Rest of LATAM
Rest of the World
Middle East and North Africa
Rest of RoW

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