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.
April 21, 2022: American Laboratory Products Company, Ltd. (ALPCO), a specialty in vitro diagnostics company, announced a merger with GeneProof a.s. This merger will generate a global reach for ALPCO’s immunoassay testing kits, real-time PCR testing products, and automated laboratory instrumentation solutions.
October 07, 2021: Calpro AS & Ampersand Health announced the collaboration to develop CalproSmart biomarker test results incorporated into Ampersand’s digital therapeutic My IBD Care, which is a self-management and remote monitoring device for Inflammatory Bowel Disease (IBD).
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.
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.
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 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:
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 extraction system market includes the following segments:
Ans: Growing prevalence of bowel infections and intestinal disorders to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2022 – 2031.
Ans: Lack of researchers and scientist in 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 increasing cases of typhoid.
Ans: The major players in the market are Promega Corporation, Arbor Assays Inc., ALPCO, Canvax Reagents S.L.U., DRG Instruments GMBH, Svar Life Science AB, Bioserv Diagnostics Gmbh, Epitope Diagnostics, Inc., and LifeSpan BioSciences, 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 assay, application, end-user, and by region.
Ans: The hospitals segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.