Colorectal Cancer Screening Market
Colon cancer, also known as colorectal cancer, is a condition where the rectum or colon’s cells proliferate out of control. Although the specific aetiology of colorectal cancer is unknown, there are certain variables that are highly associated with the condition, such as severe alcohol use and cigarette use. Additionally, those who have specific genetic cancer syndromes or a family history of colorectal cancer are at an increased risk of contracting the illness. One of the screening procedures for colorectal cancer is a colonoscopy. Prior to the onset or spread of cancer, this kind of screening can identify issues that can be addressed. Before cancer starts and/or spreads, issues that can be addressed are discovered during colorectal cancer screening. Precancerous polyps, abnormal growths in the colon or rectum, can be found during screening so they can be removed.
By the end of 2022, the market for colorectal cancer screening is anticipated to be worth US$ 13,689.59 Mn.
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Over the projected period, the introduction of effective screening tests is anticipated to fuel market expansion for colorectal cancer screening. For instance, Shield, a blood test for the early diagnosis of colorectal cancer, was made public by Guardant Health, Inc. in May 2022. (CRC). The test is intended for persons age 45 and older who are not up to date with current screening recommendations, exhibit no symptoms, and are at average risk for CRC. It just needs patients to perform a quick blood draw.
The global market for colorectal cancer screening is likely to provide considerable prospects as colorectal cancer rates rise. One in 25 (4.0%) women and one in 23 (4.3%) men, for instance, have a lifetime chance of acquiring colorectal cancer. The third most frequent disease globally, according to the World Cancer Research Fund International (WCRF International), is colorectal cancer. It ranks second among cancers in women and third among cancers in males. In 2020, there were about 1.9 million brand-new instances of colorectal cancer.
Some significant factors that are anticipated to impede the growth of the worldwide colorectal cancer screening market include high screening test prices and limited access to healthcare in underdeveloped nations. For instance, a growing number of cancer patients must be treated in many nations throughout the world since detection and treatment are costly. In contrast, compared to wealthy nations, individuals in developing countries do not have access to adequate healthcare services, such as infrastructure, healthcare professionals per capita, etc.
People with colorectal cancer were/are exposed to severe risks as a result of the COVID-19 epidemic (ongoing pandemic), decreased activity of healthcare systems, relocation of resources, and possibly patient resistance to seeking medical attention. Patients with colorectal cancer are especially susceptible to the interruption of their therapy since endoscopy-based diagnosis has been discontinued due to worries about viral transmission. For instance, researchers discovered a 31% drop in fresh recommendations for colorectal cancer in 2020 from March to May compared to the average of the two prior years, according to a study published in May 2021 in the Lancet magazine. In other words, the pandemic had a detrimental effect on market expansion.
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The market for colorectal cancer screenings was estimated at US$12,866.16 billion in 2021 and is anticipated to grow at a 7.5% CAGR from 2022 to 2028 to reach US$21,135.40 billion.
Colonoscopy was the most popular screening test in 2021, accounting for 51.5% of the market’s value share. Increasing approval and the introduction of new products are anticipated to fuel the segment’s expansion over the course of the forecast period.
The global market for colorectal cancer screening is anticipated to rise as awareness of colorectal cancer screening increases. For instance, Clinical Genomics expanded its strategic agreement in April 2020 in order to raise investment and expand the marketing of the COLVERA blood test for colorectal cancer screening outside of the United States, the United Kingdom, Mexico, and India.
The worldwide market for colorectal cancer screening is anticipated to rise as the senior population increases. For instance, colorectal cancer has a high incidence and 60 percent of patients are over 70; this incidence is expected to rise in the near future. Patients who are older than 70 to 75 years old are a highly diverse population, ranging from the extremely fit to the very decrepit.
Clinical Genomics Technologies Pty Ltd., Polymedco Inc., Sysmex Corporation, Eiken Chemical Co. Ltd., Olympus Corporation, Siemens Healthineers AG, Epigenomics Inc., Quidel Corporation, Exact Sciences Corporation, Novigenix SA, and Hemosure Inc., are major players in the global colorectal cancer screening market.
To improve healthcare delivery in Southeast Asia, Health Management International and Siemens Healthineers AG partnered in May 2021. This relationship supports the provision of cutting-edge medical technology and digitalization platforms, enhances clinical education, and promotes the growth of Centres of Excellence for cardiovascular, neurological, and cancer research.
A blood-based multi-omics colorectal cancer (CRC) test is being developed with funding from Novigenix SA of about EUR 1 million as of January 2020. Maastricht University (Netherlands), Biolizard, and KU Leuven collaborate (Belgium).
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Colorectal Cancer Screening Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Colorectal Cancer Screening Industry Impact
Chapter 2 Global Colorectal Cancer Screening Competition by Types, Applications, and Top Regions and Countries
2.1 Global Colorectal Cancer Screening (Volume and Value) by Type
2.3 Global Colorectal Cancer Screening (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Colorectal Cancer Screening Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Colorectal Cancer Screening Market Analysis
Chapter 6 East Asia Colorectal Cancer Screening Market Analysis
Chapter 7 Europe Colorectal Cancer Screening Market Analysis
Chapter 8 South Asia Colorectal Cancer Screening Market Analysis
Chapter 9 Southeast Asia Colorectal Cancer Screening Market Analysis
Chapter 10 Middle East Colorectal Cancer Screening Market Analysis
Chapter 11 Africa Colorectal Cancer Screening Market Analysis
Chapter 12 Oceania Colorectal Cancer Screening Market Analysis
Chapter 13 South America Colorectal Cancer Screening Market Analysis
Chapter 14 Company Profiles and Key Figures in Colorectal Cancer Screening Business
Chapter 15 Global Colorectal Cancer Screening Market Forecast (2022-2028)
Chapter 16 Conclusions
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