Global Faecal Extraction System Market Highlights over 2022 – 2031
The global faecal extraction system market is estimated to grow at a CAGR of ~4% over the forecast period, i.e., 2022 – 2031. Faecal extraction system is a device used to collect stool sample of the patient in order to diagnose an infection. Various diseases, such as, inflammatory bowel disease, parasitic infection, and malabsorption syndrome are diagnosed with the help of faecal extraction systems. The growth of the market can be attributed to the increasing demand for timely diagnosis amongst patients, backed by the growing health awareness amongst people. Moreover, with the advancement in the medical technologies, doctors opt for extensive tests and diagnosis to better understand the diseases and disorders of their patients. All these factors are estimated to boost the market growth. In addition to this, the growing disposable income of people, coupled with the higher per capita health expenditure in the recent years, are anticipated to encourage the market growth. As per the data by the World Bank, the global per capita health expenditure amounted to USD 1121.796 in 2019, up from USD 874.497 in 2009.
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The market is segmented by application into parasitic infection, viral infection, bacterial indication, poor nutrient absorption, and others, out of which, the bacterial indication segment is anticipated to hold a substantial share in the global faecal extraction system market over the forecast period on account of increasing prevalence of bacterial infections, such as, typhoid and cholera. According to the data by the World Health Organization (WHO), 11 to 20 million people get sick from typhoid every year, while between 128 000-161 000 people die from it.
Major Macro-Economic Indicators Impacting the Market Growth
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.
Global Faecal Extraction System Market Regional Synopsis
On the basis of geographical analysis, the global faecal extraction system 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 increasing prevalence of intestinal infections in the developing and underdeveloped countries, backed by the poor living conditions and sanitation.
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 typhoid, cholera, and inflammatory bowel diseases, due to poor dietary habits in the population. According to the data by the Center for Disease Control and Prevention (CDC), approximately 5,700 infections of salmonella typhi, typhoid causing bacteria, occur among people in the United States each year.
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The global faecal extraction system market is further classified on the basis of region as follows:
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North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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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
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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
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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
Market Segmentation
Our in-depth analysis of the global faecal extraction system market includes the following segments:
By Assay
- Calprotectin
- Albumin
- Hemoglobin
- Bile Acids
- Others
By Application
- Parasitic Infection
- Viral Infection
- Bacterial Indication
- Poor Nutrient Absorption
- Others
By End-User
- Diagnostic Center
- Hospitals
- Ambulatory Clinics
- Research Centers
- Others
Growth Drivers
- Increasing Incidences of Bowel Infections
- Growing Demand for Early Diagnosis
Challenges
- Need for High Investment
- Lack of Researchers and Scientist in Pathology
Top Featured Companies Dominating the Market
- Alpa Laboratories Limited
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Promega Corporation
- Arbor Assays Inc.
- American Laboratory Products Company, Ltd. (ALPCO)
- Canvax Reagents S.L.U.
- DRG Instruments GMBH
- Svar Life Science AB
- Bioserv Diagnostics Gmbh
- Epitope Diagnostics, Inc.
- LifeSpan BioSciences, Inc.
