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Several governments and healthcare organizations are recognizing the importance of addressing colorectal cancer as a public health concern. They are implementing various initiatives, including awareness campaigns, educational programs, and policies that encourage regular cancer screening. For instance, Centers for Disease Control and Prevention (CDC) and their partners actively promote colorectal cancer prevention through screening, educational campaigns such as Screen for Life, funding research, and state programs. These efforts are not only raising awareness among the general population but also creating a supportive environment for healthcare providers to offer and promote fecal occult testing as a part of routine screening programs.
Furthermore, the U.S. Department of Health and Human Services (HHS) announced the allocation of USD 5 million to support community health centers. This funding, provided by HHS's Health Resources and Services Administration, aimed to enhance the accessibility of vital cancer screenings, ensuring equitable access to life-saving screening services. Therefore, the alignment between government initiatives and the market's growth is evident, as these efforts lead to increased demand and utilization of these tests.
The guaiac FOB stool test segment garnered USD 381.3 million in the fecal occult testing industry in 2022 on account of its established reputation in medical practice and historical integration into colorectal cancer screening programs.
Fecal occult testing industry size reached USD 1 billion in 2022 and will witness 7.3% CAGR through 2032 due to the rising incidence of rectal and colon cancer worldwide.
U.S. fecal occult testing industry crossed USD 353.1 million in 2022 and is projected to expand significantly through 2032 owing to the highly advanced and well-established healthcare infrastructure in the region.
HUMASIS.COM, CTK Biotech, Inc., Biopanda Reagents Ltd, Biohit Oyj, CERTEST BIOTEC, Cenogenics Corporation, Alfa Scientific Designs, Inc., Siemens Healthcare GmbH, Jant Pharmacal Corporation., Quidel Corporation, and Wondfo are some of the fecal occult testing companies worldwide.