The Global Colorectal Cancer Screening Market size is expected to reach $22.2 billion by 2030, rising at a market growth of 4.8% CAGR during the forecast period.
In United States, approximately nine out of ten people with colorectal cancer who are diagnosed early and treated appropriately are still alive five years later. Hence, the North America region would capture approximately 2/5th of the market by 2030. Due to several factors, including an aging population, an increase in cancer cases, high healthcare spending, and a modern healthcare infrastructure. The market is also expanding due to rising government initiatives to create awareness of the disease and the accessibility of screening tests like FIT and FOBT.
The major strategies followed by the market participants are Acquisitions as the key developmental strategy in order to keep pace with the changing demands of end users. For instance, In April, 2022, BioMerieux S.A. acquired Specific Diagnostics to enhances bioMérieux's capability to deliver instant AST results by adding specific Diagnostics' SPECIFIC REVEAL Rapid AST offerings to its portfolio. In December, 2022, Olympus Corporation took over Odin Vision to reinforce Olympus’ strategy for delivering digital patient care.
Based on the Analysis presented in the KBV Cardinal matrix; Siemens Healthineers AG is the forerunner in the Market. April, 2021, Siemens took over Varian Medical Systems to strengthen the competitiveness & independence of Siemens Healthineers. Companies such as Fujifilm Holdings Corporation, Olympus Corporation, BioMerieux S.A. are some of the key innovators in the Market.
The COVID-19 effect caused the market growth to slow down during the pandemic. Pandemic-era lockdown limitations and a suspension of colorectal cancer screening brought this on. To decrease person-to-person contact and conserve hospital and medical resources for those exposed to COVID-19, screening through colonoscopies was completely discontinued in many countries in 2020. The market slowed in growth during the pandemic period when measured by revenue. During the pandemic, there was a decrease in the number of people being examined through government programs.
The substantial rise in global colorectal cancer incidence is one of the key factors that favorably influence the market's expansion. The incidence is highest in developed nations, rising in middle- and low-income nations because of unhealthy lifestyle choices and an aging population explosion. Additionally, according to the American Cancer Society, 43,340 new instances of rectal cancer and 104,610 new cases of colon cancer were identified in the United States in 2020, respectively. The demand for CRC detection has increased due to the rising incidence of CRC and the disease's rising death rate, which will likely drive the expansion of the market in the following years.
Governments in several nations have strengthened screening policies to reduce the incidence of colorectal cancer on a global scale. Governments in several nations have implemented various initiatives, such as regular screening programs for individuals at risk of contracting the disease, to reduce the growing burden of CRC. In Korea, the National Cancer Screening Program offers CRC screening to all adults over 50 at no or at a low cost, according to a study released by the National Library of Medicine in 2019. The usage of various tests is anticipated to increase due to the growing elderly population and government initiatives, which will fuel market expansion overall.
Despite the critical and growing need for advanced and efficient screening procedures, adopting screening devices may be hampered by their inherent limitations. A colonoscopy, for instance, has the highest incidence of positive results and is a highly accurate test. However, the patient may experience several negative side effects from the colonoscopy process, including bleeding and infection. During the forecast period, these restrictions and unfavorable effects related to colorectal cancer screening techniques are anticipated to restrain market expansion.
Under the stool-based segment, the market is further divided into fecal immunochemical test (FIT), fecal occult blood test (FOBT), and stool-DNA test. The fecal immunochemical test (FIT) segment witnessed the largest revenue share in the market in 2022. The FIT, or fecal immunochemical test, is a non-invasive diagnostic procedure used to identify blood in stool. FITs are extensively utilized diagnostic tools for detecting precancerous lesions or early-stage colorectal cancer by detecting blood in stool samples. The development of FITs has focused on enhancing their sensitivity, specificity, and patient friendliness.
Based on end-user, the market is bifurcated into hospital & clinics, clinical laboratories, diagnostic imaging centers, and others. In 2022, the hospitals and clinics segment dominated the market with maximum revenue share. The growth of the segment is attributable to the rise in the prevalence of colorectal cancer and technological advancements in screening tests conducted in hospitals globally. The demand for CRC screening is expanding in hospitals and clinics due to elements including a sizable number of hospitals.
By type, the market is segmented into stool-based, colonoscopy, and others. The stool-based segment covered a considerable revenue share in the market in 2022. The diagnosis of colorectal cancer and precancerous lesions using stool-based tests has shown encouraging results, making it a useful tool for early detection. The revolutionary stool-based tests analyze stool samples to find specific DNA markers related to colorectal cancer. Increased government programs for colorectal cancer screening and the efficiency of stool-based tests have contributed to the segment's growth.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 15.4 Billion |
| Market size forecast in 2030 | USD 22.2 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 4.8% from 2023 to 2030 |
| Number of Pages | 263 |
| Number of Table | 364 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, End-user, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region acquired a significant revenue share in the market. The expansion of the regional market is driven by the development and upgrading of healthcare facilities in Asian nations, rising CRC incidence in the region's nations, and rising individual consciousness of better treatment outcomes. It is expected that the rising incidence of colorectal cancer in the region's key countries and the status of colorectal diseases as the primary cause of mortality will also drive market growth in the region.
Free Valuable Insights: Global Colorectal Cancer Screening Market size to reach USD 22.2 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novigenix SA, Eiken Chemical Co., Ltd., Clinical Genomics Pathology, Inc., Exact Sciences Corporation, Epigenomics AG, BioMerieux S.A., Olympus Corporation, Sysmex Corporation, Fujifilm Holdings Corporation, and Siemens Healthineers AG (Siemens AG).
By Type
By End-user
By Geography
This Market size is expected to reach $22.2 billion by 2030.
Growing Risk of Colorectal Cancer are driving the Market in coming years, however, Negative Effects of Colonoscopies May Lead to Decreased Adoption of Testing restraints the growth of the Market.
Novigenix SA, Eiken Chemical Co., Ltd., Clinical Genomics Pathology, Inc., Exact Sciences Corporation, Epigenomics AG, BioMerieux S.A., Olympus Corporation, Sysmex Corporation, Fujifilm Holdings Corporation, and Siemens Healthineers AG (Siemens AG).
The expected CAGR of this Market is 4.8% from 2023 to 2030.
The Colonoscopy segment is leading the Market by Type in 2022; thereby, achieving a market value of $15.8 billion by 2030.
The North America region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $9.2 billion by 2030.
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