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Colorectal Cancer Screening Market: By End user (Hospitals, Diagnostic laboratories and Others); By Screening Test (Flexible Sigmoidoscopy, Stool-Based Tests, CT Colonography and Colonoscopy), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Colorectal Cancer Screening Market is expected to surpass USD 29.10 billion by 2032 from USD 16.24 billion in 2021 at a CAGR of 6.8% in the coming years, i.e., 2022-32.
Bowel cancer and colon cancer are other names for colorectal cancer (CRC). It is the growth of cancer in the colon or rectum. With colonoscopy, a thorough diagnosis and effective therapy are possible without a big operation. The polyps can also be removed with a colonoscope. Adenomas, polyps, and illness signs can all be found using diagnostic processes employed in colorectal cancer screening tests in vitro. The large intestine, colon, and rectum exhibit aberrant cell proliferation in colorectal cancer, a medical disorder. The market for in colorectal cancer screening is anticipated to grow in response to the increased incidence of the disease.
The Colorectal Cancer Screening Market is expected to project a notable CAGR of 6.8% in 2032.
Colorectal Cancer Screening Market is expected to surpass USD 29.10 billion by 2032 from USD 16.24 billion in 2021 at a CAGR of 6.8% in the coming years, i.e., 2022-32. The government's increased investment in R&D and the demand for early diagnoses are anticipated to fuel market expansion. Additionally, the market growth is boosted by the extensive research and development conducted by commercial and public organisations. Over the course of the forecast period, factors such the rising incidence of colorectal cancer, recommendations from government agencies for early screening, technical improvements, and the introduction of new products are projected to boost market expansion.
Colorectal Cancer Screening Market: SegmentsThe Colonoscopy segment is expected to grow with a higher CAGR during 2022-32
Colorectal Cancer Screening Market is categorized on the basis of Screening Test into Flexible Sigmoidoscopy, Stool-Based Tests, CT Colonography and Colonoscopy. In 2021, the Colonoscopy segment held the highest this is due to the screening test's global ability to recognise and effectively eradicate both pro-malignant and malignant tumours.
The hospitals segment is expected to grow with a higher CAGR during 2022-32
Colorectal Cancer Screening Market is categorized on the basis of end user into Hospitals, Diagnostic laboratories and Others. The hospitals sector generated the largest revenue share in 2021 and had a profitable CAGR throughout the projection period. This is attributable to the rise in colorectal cancer cases and improvements in screening methods used in hospitals around the world. Independent diagnostic laboratories are anticipated to experience profitable CAGR growth during the predicted period. The reason for this is that there are now more tests being performed in these labs as a result of patients' growing knowledge of the advantages of early cancer detection.
Market DynamicsRising Cases of Cancer and Increased Use of Healthcare Equipment Is Driving Growth
The market for colorectal cancer screening tests is expected to be driven in the near future by the expansion of the patient pool due to the increased prevalence of cancer, industry requirements for minimally invasive disease diagnostics, and recent industry advances. The frequency of colorectal cancer among younger generations, which can occur for a variety of reasons, will further increase demand for colorectal screening tests. The introduction of various screening techniques to choose from taking the situation into consideration, the integration of genetic testing in cancer screening tests, as well as the introduction of regulations by authorities aiming to make cancer screening tests mandatory have all furthered the growth of this market.
Poor Eating Habits, Lifestyle Changes and Urban Air Pollution Are Expected to Surge Demand
Favorable regulations and DNA sequencing's affordability as a result of biotechnological developments will further support market expansion. Poor eating habits, lifestyle changes, an increase in smoking, genetic mutations, the use of hormones and alcohol, and urban air pollution are some of the common causes of the rising number of cancer patients worldwide. As a result, the market for colorectal cancer screening tests is growing significantly due to the rising incidence of cancer worldwide.
Lack Of Experienced Workers and High Equipment Cost Is Likely to Hamper the Market Growth
The lack of experienced workers needed to handle devices and conduct research operations will provide substantial obstacles for the global industry for Colorectal Cancer Screening. Additionally, higher cost for equipment is also likely to hamper the global market.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Colorectal Cancer Screening Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. In 2021, North America had the largest share in the market of Colorectal Cancer Screening. Government initiatives regarding promotion of efficient treatment facilities is also likely to promote growth in the North American region. Over the course of the forecast period, factors such the rising incidence of colorectal cancer, recommendations from government agencies for early screening, technical improvements, and the introduction of new products are projected to boost market expansion in the region of North America.
Lockdowns across the country, laws, and the ongoing rise in infection rates across many nations have had a significant financial impact on neurology hospitals and clinics. As a result of COVID-19, many hospitals and clinics have seen a decline in patient visits, which has decreased client engagement. The COVID-19 situation has also caused numerous diagnostic procedures to be postponed. In addition, hospitals all around the world have cancelled or delayed a number of diagnostic procedures, particularly those thought to be unnecessary or non-urgent, to free up limited room for those receiving viral treatment. Hence, the market for colorectal Cancer Screening is negatively impacted by the shortage of medical professionals around the world.
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Report Attribute |
Details |
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Market Size Value in 2021 |
USD 16.24 billion |
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Revenue Forecast in 2032 |
USD 29.10 billion |
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Growth Rate |
CAGR of 6.8% from 2022 to 2032 |
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Base Year for Estimation |
2021 |
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Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
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Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments Covered |
Screening Test, End user and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key Companies Profiled |
Sysmex Corporation, Hemosure Inc, Epigenomics Inc, Novigenix SA, Clinical Genomics Technologies, Quidel, Siemens, GE Healthcare, Abbott, Exact Sciences and Other Prominent Players |
The Colorectal Cancer Screening Market size was estimated at USD 16.24 billion in 2021 and is expected to reach USD 29.10 billion in 2032.
Bowel cancer and colon cancer are other names for colorectal cancer (CRC). It is the growth of cancer in the colon or rectum. With colonoscopy, a thorough diagnosis and effective therapy are possible without a big operation.
Ans. The hospitals and Colonoscopy segments accounted for the larger share of the Colorectal Cancer Screening Market.
Key players in the Colorectal Cancer Screening Market are Sysmex Corporation, Hemosure Inc, Epigenomics Inc, Novigenix SA, Clinical Genomics Technologies, Quidel, Siemens, GE Healthcare, Abbott, Exact Sciences and Other Prominent Players
The government's increased investment in R&D and the demand for early diagnoses are anticipated to fuel market expansion.
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