The colorectal cancer screening market involves various procedures and diagnostic tests for early detection and prevention of colorectal cancer. Some common screening methods include fecal occult blood tests, flexible sigmoidoscopy, double-contrast barium enema, and colonoscopy. Colorectal cancer screening helps detect precancerous polyps or early stage cancer that can often be treated successfully. It also aids in lowering the incidence and mortality of this preventable disease.
The global colorectal cancer screening market is estimated to be valued at US$ 15.44 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the colorectal cancer screening market are Polymedco Inc., Eiken Chemical Co. Ltd., Sysmex Corporation, Siemens Healthineers AG, Quidel Corporation, Novigenix SA, Hemosure Inc., Exact Sciences Corp., Epigenomics Inc., Olympus Corporation, Clinical Genomics Technologies Pty Ltd., Exact Sciences Corporation, Clinical Genomics, Guardant Health, Inc., Hemosure Inc., and Geneoscopy, Inc. These players are focused on launching advanced and easy-to-use screening tests to expand their presence.
The
Colorectal Cancer Screening Market Size
for players to leverage the growing awareness about early detection and increase screening rates in developing countries. Companies are engaging in partnerships and collaborations to penetrate developing markets and make screening accessible to a wider population.
Globally, there is an increasing focus on population-based screening programs to reduce the burden of colorectal cancer. Several regions have implemented organized screening programs through healthcare facilities. Meanwhile, growing pilot programs in Asian and Latin American countries indicate the potential for market expansion.
Market Drivers
The rapid rise in colorectal cancer incidence worldwide due to lifestyle changes, obesity, and
Colorectal Cancer Screening Market Size And Trends
It is estimated that the number of new cases diagnosed each year will increase by 60% by 2030. Growing disease prevalence enhances the need for widespread screening practices to detect cancer at treatable stages. Additionally, increasing reimbursement for FDA-approved screening tests, favorable government initiatives, and rising awareness about early detection are supporting the adoption of screening worldwide.
PEST Analysis
Political: Government regulations and healthcare reforms impact the adoption of colorectal cancer screening tests. Favorable reimbursement policies can boost the market growth.
Economic: Rising healthcare expenditures and growing disposable incomes encourage people to opt for preventive healthcare check-ups including colorectal cancer screening tests.
Social: Increasing awareness about early detection benefits, changing lifestyles, and growing geriatric population drive the demand for colorectal cancer screening.
Technological: Advancements in biopsy techniques, endoscopy devices, diagnostic platforms enable detection of colorectal cancer at an early stage. Novel non-invasive tests based on blood, stool and CSF analysis are gaining traction.
Colorectal cancer screening market in terms of value is highly concentrated in developed regions like North America and Western Europe due to established healthcare infrastructure and widespread awareness. The United States dominates the market owing to favorable reimbursement policies and regular screening recommendations.
Asia Pacific is recognized as the fastest growing regional market for colorectal cancer screening attributed to rising healthcare spending, growing number of screening programs, and increasing incidence of colorectal cancer cases especially in China, Japan and India. Improving diagnostic capabilities and economic development are expected to boost early detection in Asia Pacific over the forecast period.
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