In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
March 16, 2022: Thermo Fisher Scientific to launch a new large-volume electroporation system for cell therapy developers to facilitate commercial manufacturing of clinical therapy systems.
January 22, 2022: Exelixis Inc. announced the successful results for Cabozantinib in combination with immunotherapies in patients with advanced colorectal cancer.
The global faecal calprotectin testing market is estimated to grow at a CAGR of ~12% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing prevalence of colon rectum cancer, inflammatory bowel syndrome, and other gastrointestinal disorders, as faecal calprotectin test is used for the diagnosis of these diseases. According to the data by the World Health Organization (WHO) over 10 million people died due to cancer in 2020, up from 9.6 million in 2018. Moreover, there were 1.93 million new cases of colorectal cancers in 2020 globally. Additionally, colon and rectum cancer caused 916,000 deaths in 2020 itself. Moreover, increasing awareness amongst people regarding early diagnosis of diseases, along with growing investment in research activities are estimated to boost the market growth. As per the data by the World Bank, 2.203% of the global gross domestic product (GDP) was spent on R&D activities in 2018. Moreover, government initiatives to provide efficient healthcare to the people, along with increasing individual disposable income are anticipated to boost the market growth.
The market is segmented by disease type into inflammatory bowel disease, colorectal cancer, celiac disease, and others, out of which, the colorectal cancer segment is anticipated to hold a substantial share in the global faecal calprotectin testing market over the forecast period on account of increasing cases of cancer, along with growing cancer awareness amongst people.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
On the basis of geographical analysis, the global faecal calprotectin testing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of improving healthcare systems, along with high prevalence of gastrointestinal diseases in the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high incidences of colorectal cancer, celiac disease, and other disorders in the developed countries, backed by the unhealthy lifestyle of the population. As per the data by the Center for Disease Control and Prevention (CDC), about 1 in 23 men and 1 in 25 women have the risk of colorectal cancer in the U.S.
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The global faecal calprotectin testing market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global faecal calprotectin testing market includes the following segments:
Ans: Increasing prevalence of colorectal cancer and other gastrointestinal diseases is estimated to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2022 – 2031.
Ans: Lack of researchers in the field of pathology is estimated to hamper the market growth.
Ans: The North America region is anticipated to provide more business opportunities over the forecast period owing to the high prevalence of diseases in the region.
Ans: The major players in the market are Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Bioserv Diagnostics Gmbh, Epitope Diagnostics, Inc., LifeSpan BioSciences, Inc., and RayBiotech, Inc.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by disease type, patient type, end-user, and by region.
Ans: The colorectal cancer segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.