Fecal calprotectin tests are primarily used for detecting inflammatory bowel diseases (IBD) like ulcerative colitis and Crohn's disease. These diseases are characterized by chronic inflammation and ulcers in the gastrointestinal tract. Fecal calprotectin tests help in determining the levels of calprotectin protein in stool samples, which is a marker for neutrophil infiltration in the bowels. With increasing prevalence of IBD globally, fecal calprotectin tests plays a key role in aiding diagnosis and monitoring disease progression or remission.
The global Fecal Calprotectin Test Market is estimated to be valued at US$ 140.6 Million in 2023 and is expected to exhibit a CAGR Of 3.9% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
Increasing Diagnosis of Inflammatory Bowel Diseases
The incidence and prevalence rates of IBD have been rising globally over the past few decades. According to research studies, the annual new cases of IBD have doubled or tripled in many countries from the 1990s to current period. Early and accurate diagnosis of IBD plays a vital role in initiating timely treatment and improving patient outcomes. Fecal calprotectin tests provide reliable, non-invasive and cost-effective means of diagnosing IBD compared to other alternatives like endoscopy, biopsy and imaging techniques. Therefore, increasing diagnosis and screening rates for IBD are expected to drive significant demand for fecal calprotectin tests during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. Require high investment for R&D, clinical trials and certifications which is a deterrent. However, growing demand and presence of few global players provides scope for new players.
Bargaining power of buyers: Bargaining power of buyers is moderate. Buyers have many alternatives available from different competitors. However, branded products and diagnostic accuracy matters for most buyers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes. Suppliers of raw materials include chemical and diagnostic kit manufacturers. Suppliers differentiate through proprietary technologies or access to specialized inputs.
Threat of new substitutes: Threat of substitutes is low as fecal calprotectin is a well-established marker with high diagnostic accuracy and predefined clinical guidelines for testing.
Competitive rivalry: Intense as market comprises few global players investing heavily in R&D and product portfolio expansion through acquisitions. Players differentiate based on test kits, services and regional presence.
SWOT Analysis
Strength: High diagnostic accuracy. Non-invasive sample collection ease use. Growing clinical trials validating utility in various gastrointestinal disorders.
Weakness: Limited awareness. Elevated levels not diagnostic of a specific condition requiring additional tests.
Opportunity: Rising GI disorders prevalence indicates increased testing volumes. Developing regions with undiagnosed patient pool.
Threats: Retention of market share amid pricing pressure. Biosimilars threat once patents expire. Stringent regulatory approvals for tests.
Key Takeaways
The Global Fecal Calprotectin Test Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2024 is estimated to be US$ 140.6 million with a CAGR of 3.9%. Rising prevalence of gastrointestinal diseases requiring diagnostic tests and non-invasive nature are boosting market demand.
Regional analysis: North America dominates currently owing to presence of major players and prevalence of inflammatory bowel diseases. Asia Pacific shows high growth potential due rising penetration of modern diagnostic techniques and increasing health expenditures. China and India are fastest growing markets in the region.
Key players: Key players operating in the fecal calprotectin test market are Thermo Fisher Scientific, Luminex Corporation, ALFA Scientific Designs, NanoEnTek, Bühlmann Laboratories AG, Omega Diagnostics Group PLC, ScheBo Biotech AG, and BÜHLMANN. The market is consolidated with top 3 players accounting for over 60% share. Players are focusing on new product launches, geographical expansions and acquisitions for growth.
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