Colorectal Cancer Screening Market Shares & Forecast by 2024 – Market Size, Type, Manufacturers, Application, Industry Analysis by Geographical Regions

Colorectal Cancer Screening

Colorectal Cancer Screening Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Colorectal Cancer Screening market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

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Key Market Trends:

Guaiac Fecal Occult Blood Test (gFOBT) is Expected to be the Fastest Growing Segment

The guaiac fecal occult blood test (gFOBT) is one of the several methods that is used to detect colorectal cancer. The test involves the detection of hidden blood in the feces, and identifies the presence of cancer cells or tumours in the colon or rectum. The test involves placing a small sample of stool on specially guaiac coated cards, and then sent to a laboratory for testing. Upon putting a testing solution on the cards, the guaiac causes the stool sample to change colour. The colour changes very quickly if there is blood in the stool. Presence of blood in the stool may be a sign of colorectal cancer or other problems, such as polyps, ulcers, or hemorrhoids. As per the American College of Gastroenterology (ACG), the procedural volumes for colorectal (CRC) screening with gFOBT have decreased modestly. However, the factors that are driving the market are its ease of availability, low cost, and coverage in the insurance, along with being sold as over-the-counter. Also, with product innovation, the method has become reliable. The growth of the market is mainly attributed to the ease of availability and low cost of the products.

North America is Expected to Dominate the Market

According to the National Cancer Statistics, colon cancer is reported to be America’s second-deadliest cancer with 50,000 deaths, annually, followed by lung cancer. It was estimated that approximately 1, 44,000 cases of colorectal cancer were found in 2015, and nearly 1, 60, 000 new cases for colorectal cancer are expected to occur by 2020. This increase in the disease occurrence may eventually increase the demand for colorectal cancer screening procedures. Several companies are coming up with advanced screening procedures, including genetic tests, which are gaining acceptability in the US market. According to the National Health Interview Survey, CRC screening (in accordance with guidelines among adults of 50 years and more) increased from 34%, in 2000, to 63%, in 2015. Initiatives, like national TV campaigns, digital marketing, primary care sales force, collated materials, clinical and health publications, etc., are helping increase the adoption of the colorectal cancer screening procedures in the United States. Also, government initiatives are increasing awareness, which is playing an integral role and driving the market for colorectal cancer screening in the country. According to the American Cancer Society, the colon cancer screening rate was 59% in 2010, and increased to 62% in 2015. This rate is increasing at a steady pace, and the goal for colon cancer screening is to reach 80% by 2018. Increasing number of colorectal cancer incidences in the United States, along with several educational and financial initiatives, are expected to increase the colorectal cancer screening market in the United States, in the future.

Market Overview:

  • The major factors for the growth of the colorectal cancer screening market include the advent of efficacious genetic tests, an increase in the prevalence of colorectal cancer, and increasing cancer prevention initiatives.
  • Most of the Colorectal Cancer (CRC) cases exhibit familial clustering, which means that tens of thousands of individuals have a disease with a potentially definable genetic component. The risk of CRC is higher in people with a strong family history of colorectal cancer, i.e., inherited colon cancer syndromes. The genetic tests developed for colon cancer include hereditary nonpolypsis colon cancer (HNPCC) test, familial adenomatous polyposis (FAP) test, etc. Genetic testing for colon cancer creates better opportunities for early diagnosis. For instance, the most common genetic changes related to colon cancer are familial adenomatous polyposis (FAP) and hereditary non-polyposis colorectal cancer (HNPCC). These genetic changes could be identified at a very early age, less than 40 years through genetic testing. If these medical screenings are employed, the number of colon cancer cases found in the early stages may increase. Also, gene therapies to alter these mutations are likely to be developed. According to a research article published in 2017, “Colorectal cancer screening: An updated review of the available options”, it was estimated that colon cancer incidence and mortality are declining over the past decade, owing to the adoption of effective screening methods, like Fecal DNA test and Blood DNA test. The increasing awareness about genetic screening methods and advantages for undergoing these tests (not only for early detection and treatment, but also for the removal of precancerous cells, which are much cheaper than the usual run of chemotherapy) are driving the colorectal cancer screening market.

    Key Manufacturers Like 

  • Abbott Laboratories
  • Clinical Genomics Technologies Pty Ltd
  • Epigenomics Inc.
  • Exact Sciences Corporation
  • F. Hoffmann
  • La Roche AG
  • Hemosure Inc.
  • Novigenix SA
  • Quidel Corporation
  • Siemens Healthcare Private Limited
  • Sysmex Corporation.

    Scope of the Report:

  • As per the scope of this report, colorectal cancer (CRC) is known as bowel cancer and colon cancer. It is the development of cancer from the colon or rectum. Colorectal cancer (CRC) screening tests use kits and various medical devices for diagnosing cancer. The market is segmented by screening tests, end user, and geography.

    Colorectal Cancer Screening market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Colorectal Cancer Screening market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Colorectal Cancer Screening market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of Colorectal Cancer Screening market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries Colorectal Cancer Screening market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Colorectal Cancer Screening ?
    • Who are Opportunities, Risk and Driving Force of Colorectal Cancer Screening market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in Colorectal Cancer Screening space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the Colorectal Cancer Screening market opportunities, market risk and market overview of the Market?

    Lastly, the Global Colorectal Cancer Screening Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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    Study objectives of Colorectal Cancer Screening Market Report:

    • To provide a detailed analysis of the market structure along with the Colorectal Cancer Screening market forecast of various segments and sub-segments of the Colorectal Cancer Screening market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Colorectal Cancer Screening market trends that influence the global Colorectal Cancer Screening market

    Detailed TOC of Colorectal Cancer Screening Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Advent of Efficacious Genetic Tests
    4.2.2 Increase in Prevalence of Colorectal Cancer
    4.2.3 Increasing Cancer Prevention Initiatives
    4.3 Market Restraints
    4.3.1 High Screening Tests Costs
    4.3.2 Inadequate Healthcare Access in Developing Countries
    4.4 Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Screening Tests
    5.1.1 Stool-based Tests
    5.1.1.1 Fecal Immunochemical Test (FIT)
    5.1.1.2 Guaiac-based Fecal Occult Blood Test (gFOBT)
    5.1.1.3 Stool DNA Test
    5.1.2 Colonoscopy
    5.1.3 CT Colonography (Virtual Colonoscopy)
    5.1.4 Flexible Sigmoidoscopy
    5.1.5 Others
    5.2 By End User
    5.2.1 Hospitals
    5.2.2 Independent Diagnostic Labs
    5.2.3 Other End Users
    5.3 Geography
    5.3.1 North America
    5.3.1.1 United States
    5.3.1.2 Canada
    5.3.1.3 Mexico
    5.3.2 Europe
    5.3.2.1 Germany
    5.3.2.2 United Kingdom
    5.3.2.3 France
    5.3.2.4 Italy
    5.3.2.5 Spain
    5.3.2.6 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Australia
    5.3.3.5 South Korea
    5.3.3.6 Rest of Asia-Pacific
    5.3.4 Middle East & Africa
    5.3.4.1 GCC
    5.3.4.2 South Africa
    5.3.4.3 Rest of Middle East & Africa
    5.3.5 South America
    5.3.5.1 Brazil
    5.3.5.2 Argentina
    5.3.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Abbott Laboratories
    6.1.2 Clinical Genomics Technologies Pty Ltd
    6.1.3 Epigenomics Inc.
    6.1.4 Exact Sciences Corporation
    6.1.5 F. Hoffmann-La Roche AG
    6.1.6 Hemosure Inc.
    6.1.7 Novigenix SA
    6.1.8 Quidel Corporation
    6.1.9 Siemens Healthcare Private Limited
    6.1.10 Sysmex Corporation

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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