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Colorectal Cancer Diagnostics Market

Colorectal Cancer Diagnostics Market

Colorectal Cancer Diagnostics Market Report By Test Type (Colorectal Cancer FOB Tests, Colorectal Cancer CTC Tests, Colorectal Cancer CEA Tests, Colorectal Cancer BRAF V600 Mutation Tests, KRAS Mutation Tests), By End User - Forecast to 2021–2031

Colorectal Cancer Diagnostics Market
FACT70MR
  • Oct-2021
  • List of Tables : 185
  • List of Figures : 83
  • 170 Pages
  • Healthcare

Colorectal Cancer Diagnostics Market Outlook

The global colorectal cancer diagnostics market and have predicted to industry expansion at a CAGR of 8.5% over the decade.

Global Market Value in 2020

US$ 2 Bn

Projected Market Value for 2031

US$ 4.5 Bn

CAGR (2021-2031)

8.5%

Fastest-Growing Regional Markets

China and India

Fact.MR, a market research and competitive intelligence provider, has compiled a comprehensive assessment of various aspects that influence market growth and revenue potential. The market for colorectal cancer diagnostics was worth US$ 2 Bn in 2020, and is predicted to rise 2.2X by the end of the decade.

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Demand Analysis of Colorectal Cancer Diagnostics (2016 to 2020) Vs Market Projections (2021 to 2031)

Colorectal cancer is also known as colon cancer or rectal cancer based on the nature of origin in the body. The cancers are very similar in most aspects, hence, colon cancer diagnostics and rectal cancer diagnostics are researched and developed on the same lines as that of colorectal cancer.

Instances of colorectal cancer have been seeing an increase over the past decade, and this can be attributed to lifestyle disorders, aging population, and improper diet habits. WHO (World Health Organization) has also stated that, there would be a 70% rise in the prevalence of colorectal cancer cases worldwide by 2030.

As the number of cases rises, demand for effective treatment and diagnosis is also expected to follow a similar trend. Demand for colorectal cancer diagnostics is expected to rise at a CAGR of 8.5% over the decade.

Which Tests are Most Common for Colorectal Cancer Diagnostics?

There are many tests prevalent in the industry to diagnose colorectal cancer. Every test has its own specific nature of indicator. Of all of the tests, FOB tests are expected to see dominant demand over the forecast period and rake in majority of revenue. CTC tests for colorectal cancer diagnostics are expected to follow and bring in the second-highest revenue share.

Demand for immunochemistry tests for colorectal cancer diagnostics is predicted to rise at the highest CAGR over the next ten years. BRAF tests for colorectal cancer diagnostics are not as common and are anticipated to rise at the lowest CAGR among all other tests.

An Adaptive Approach to Modern-day Research Needs

What is the Outlook for the Colorectal Cancer Treatment Market?

As prevalence of colorectal cancer increases, demand for its treatment is also expected to see a significant increase over the years. Key providers of colorectal cancer diagnostics are focusing on creating effective and optimal diagnostic solutions that would be crucial in treatment of the disease.

Colorectal cancer medicine manufacturers are also focusing on developing drugs and pharmaceuticals that would aid in the treatment process. This is expected to drive demand in the colorectal cancer medication market.

Screening and imaging play a vital role in the diagnosis of colorectal cancer to understand the extent of tumor-affected area. In-vitro colorectal cancer screening tests are expected to see major rise in demand over the next ten years as instances of colorectal cancer rise.

Growth of the colorectal cancer diagnostics devices market is directly proportional to the growth of the global colorectal cancer diagnostics market, and is expected to rise at a similar pace in terms of demand.

Why is Popularity of Colorectal Cancer Therapeutics Increasing?

With incidence of colorectal cancer rising, demand for therapeutics to treat the condition is also anticipated to rise. Colorectal cancer immunotherapy is one of the most significant types of treatment that is popular across the world.

Demand for colorectal cancer immunotherapy is anticipated to be very notable over the decade, and this can be attributed to widespread availability of immunotherapy drugs all over the globe.

For advanced stages of colorectal cancers, different therapies are used based on the risk factor. Colorectal cancer targeted therapy and colorectal cancer chemotherapy are majorly used for advanced stage cases.

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Which Regions are Expected to Provide Beneficial Opportunities for Colorectal Cancer Diagnostic Providers?

This research details the global colorectal cancer diagnostics industry across regions such as North America, Latin America, Europe, APAC, and MEA.

North America is anticipated to hold its position as a dominant shareholder in demand as well as revenue terms. Dominance is asserted by increasing incidence of colorectal cancer and presence of prominent players across the region.

Demand for colorectal cancer diagnostics in the European region is expected to rise at a significant CAGR owing to high adoption of novel procedures for treatment and diagnosis backed by increasing research.

The market in Asia Pacific is also slated for notable expansion, and this growth can be attributed to increasing adoption of diagnostic procedures as awareness about colorectal cancer increases. Demand in India and China is expected to be significantly higher than the other nations in the region.

Rising incidence of colorectal cancer in the MEA region is expected to drive demand for colorectal cancer diagnostics in the region. Demand is expected to rise at a steady pace initially.

Colorectal cancer diagnostics market by Fact.MR

Country-wise Analysis

How is the U.S. Colorectal Cancer Diagnostics Market Shaping Up?

Colorectal cancer is the second-most-common cancer to cause death in the U.S., and this makes it a major cause of concern for the nation. The U.S. is seeing a substantial rise in cases of colorectal cancer, and this can be attributed to sedentary lifestyle and poor eating & dietary habits which are prevalent in the nation.

Demand for colorectal cancer diagnostics is also driven by the presence of prominent players in the country and early adoption of novel diagnostic and treatment solutions.

Why is Demand for Colorectal Cancer Diagnostics High in China?

Demand for colorectal cancer diagnostics in China is expected to evolve at a high CAGR over the forecast period. Increase in demand can be attributed to rising awareness about the disease, prevalence of cost-effective diagnosis, and rising medical tourism.

Over the coming years, the market in China is expected to be substantially larger than what it is in terms of size as well as revenue.

Category-wise Analysis     

Which Establishments Lead Demand for Colorectal Cancer Diagnostics?

Hospital-associated labs hold a dominant revenue share in the global colorectal cancer diagnostics industry. Demand for colorectal cancer diagnostics at cancer research institutes is anticipated to rise at the highest CAGR over the next ten years.

Use of colorectal cancer diagnostics in independent diagnostic laboratories is expected to see major increase, especially in emerging economies, due to increasing affordability of diagnostic devices and instruments.

COVID-19 Pandemic Evaluation

The screening and diagnosis of colorectal cancer saw a major drop during the pandemic period, which is a cause of concern, since diagnosis is a crucial aspect to deal with the disease effectively. Due to the pandemic, it was not possible to run extensive diagnosis of various health issues, and that created some major issues for people suffering from different health conditions.

In the post-pandemic era, focus on diagnosis of colorectal cancer is expected to see a major rise as WHO has predicted a massive rise in cases for this decade. More diagnostic providers will be targeting cost-effective methods to boost sales of tests and increase diagnostic numbers.

Competitive Landscape

Providers of colorectal cancer diagnosis are investing in the research & development of devices and instruments that would aid in diagnosis and treatment more effectively and efficiently.

  • Researchers at the University of Warwick have developed a new deep learning algorithm that is capable of identifying molecular pathways and mutations that result in the development of colorectal cancer. This could be a breakthrough in treating colorectal cancer patients.
  • Research at the Elizabeth and Vincent Meyer Laboratory of Systems Cancer Biology has discovered a small molecule - RGX-202 – which, in future, could be administered along with therapy treatment to starve colorectal cancer metastasis.
  • Researchers at the Hollings Cancer Center are also studying the increasing incidence of colorectal cancer among young individuals and prevalence in minorities. This research could be crucial in controlling the prevalence of colorectal cancer and aid in providing better preventive diagnostic and treatment solutions.

Colorectal Cancer Diagnostics Industry Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

Units for Volume and US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • APEJ
  • MEA

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • and GCC Countries

Key Market Segments Covered

  • Test Type
  • End User
  • Region

Key Companies Profiled

  • Danaher Corporation
  • Rosetta Genomics
  • Epigenomics AG
  • Exact Science Corporation
  • Pathway Genomics Corporation
  • Biocept Inc.
  • Cancer Genetics Inc.

Pricing

Available upon Request

Key Segments Covered in Colorectal Cancer Diagnostics Industry Survey

  • By Test Type:

    • Colorectal Cancer FOB Tests
    • Colorectal Cancer CTC Tests
    • Colorectal Cancer CEA Tests
    • Colorectal Cancer BRAF V600 Mutation Tests
    • Colorectal Cancer Immunohistochemistry Tests
    • C-kit/CD117
    • KRAS Mutation Tests
    • Others
  • By End User:

    • Hospital-associated Labs
    • Independent Diagnostic Laboratories
    • Cancer Research Institutes
    • Others

- FAQs -

FOB tests for colorectal cancer diagnostics are anticipated to be widely adopted over the next ten years.

The global colorectal cancer diagnostics market is anticipated to rise at a healthy CAGR of 8.5% through 2031.

In 2020, the global market for colorectal cancer diagnostics was worth around US$ 2 Bn.

By the end of 2031 the global colorectal cancer diagnostics industry is estimated to be valued at around US$ 4.5 Bn.

Demand for colorectal cancer immunotherapy is anticipated to be significant owing to high availability of immunotherapy drugs.

Key players such as Danaher Corporation, Rosetta Genomics, Epigenomics AG, Exact Science Corporation, Pathway Genomics Corporation, Biocept Inc., Cancer Genetics Inc., and Foundation Medicine Inc. are key players operating in this marketplace.

Rising prevalence of cancers, poor lifestyle choices, affordable diagnostic procedures, and increasing awareness are some of the major factors influencing demand.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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