The effects of COVID-19 on the medical device market was substantial, and almost two years later, some markets are still dealing with the aftermath of a global pandemic. However, some companies rose to the occasion and chose to market their medical device alternatives to a population prepared to stay home. The FIT-DNA Test has done exactly this, and may soon surge the gastrointestinal endoscopy market as we know it. Through the combination of a proprietary fecal immunochemical test with DNA markers for safer, improved home-screening, the FIT-DNA Test is a technological innovation that could soon reach the masses, and the market.
WHAT IS THE FIT-DNA TEST?
FIT-DNA Test is a colorectal cancer screening device that allows patients to receive a prescription kit from a doctor & test for colorectal cancer and intestinal polyps from home, without the need for approval from a gastrointestinal specialist. Patients are able to test quickly and conveniently from their own home compared to the other varying CRC screening alternatives. Overall, the FIT-DNA Test is designed to be a simple and non-invasive way to assist patients to stay on top of their health and wellness.
MARKET GROWTH OF THE FIT-DNA TEST
The implications of COVID-19 caused a severe decline in the FIT-DNA Test in 2020, however, the market is estimated to grow 31.5% by the end of 2021, and follow a compound annual growth rate (CAGR) of 21.8% through until 2027. It should be considered however, with the impact that omicron may have on the U.S. healthcare system, more at-home tests may be required for this essential screening.
WHO COMPETES IN THE FIT-DNA TEST MARKET?
Being rapidly adopted by the medical community since its inception, FIT DNA Tests’ only competitor within the market is Exact Sciences. However, there are varying comparable technologies from companies looking to seize the market through diagnostic methods of stool testing for colorectal cancer and intestinal polyps.
MARKET RECAP AND FURTHER INSIGHTS
The colon sheds cells from its lining every day, and with new and innovative technologies such as the FIT-DNA Test, abnormal cells or blood from stool can be tested for altered, possibly cancerous DNA at the convenience of the patient. Tests as such can save lives, and are only going to get significantly more accurate (less false positives) as innovation continues. Especially with consideration to our current pandemic-lifestyles, such non-invasive, at-home medical devices will continue to skyrocket market value as patient needs and demands continue to increase. For more information on the FIT-DNA Test, including unit sales, average selling prices, market drivers and limiters, competitive market share analysis, and more, follow this link to receive a free research summary of this report. In addition, we offer our complete Global Gastrointestinal Endoscopic Device Market report series which includes the analysis of the gastrointestinal endoscopic device market in 70 countries and 7 regions.