The colorectal cancer market in Europe is expected to grow from US$ 4,627.82 million in 2022 to US$ 5,819.96 million by 2028; it is estimated to grow at a CAGR of 2.9% from 2022 to 2028.
The market for colorectal cancer is ascribed to frequent diagnostic tests and new drug launches. Many major market players are involved in manufacturing a wide range of drugs and diagnostic tests that help in reducing the burden of colorectal cancer. For instance, in June 2021, Bristol Myers Squibb announced the approval of Opdivo plus Yervoy by the European Commission (EC) for the treatment of adult patients with microsatellite instability-high (MSI-H) metastatic colorectal cancer. Also, in September 2019, Lupin, an Indian pharmaceutical company, partnered with Boehringer Ingelheim, a German-based pharmaceutical company, for the development of cancer drugs. The companies collaborated to develop and commercialize a drug based on the MEK inhibitor. The molecule is likely to target specific cancer cells and treat patients suffering from stomach and skin cancer. In June 2019, Pfizer, Inc. launched ZIRABEV, a biosimilar to Avastin that helps in the treatment of five cancers, including colorectal cancer. Thus, the constant developments and new product launches in colorectal cancer diagnostics and therapeutics are driving the colorectal cancer market growth in Europe.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe colorectal cancer market at a substantial CAGR during the forecast period.
The market for colorectal cancer is ascribed to frequent diagnostic tests and new drug launches. Many major market players are involved in manufacturing a wide range of drugs and diagnostic tests that help in reducing the burden of colorectal cancer. For instance, in June 2021, Bristol Myers Squibb announced the approval of Opdivo plus Yervoy by the European Commission (EC) for the treatment of adult patients with microsatellite instability-high (MSI-H) metastatic colorectal cancer. Also, in September 2019, Lupin, an Indian pharmaceutical company, partnered with Boehringer Ingelheim, a German-based pharmaceutical company, for the development of cancer drugs. The companies collaborated to develop and commercialize a drug based on the MEK inhibitor. The molecule is likely to target specific cancer cells and treat patients suffering from stomach and skin cancer. In June 2019, Pfizer, Inc. launched ZIRABEV, a biosimilar to Avastin that helps in the treatment of five cancers, including colorectal cancer. Thus, the constant developments and new product launches in colorectal cancer diagnostics and therapeutics are driving the colorectal cancer market growth in Europe.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe colorectal cancer market at a substantial CAGR during the forecast period.
Europe Colorectal Cancer Market Segmentation
The Europe colorectal cancer market is segmented into modality, end user, and country.- Based on modality, the Europe colorectal cancer market is segmented into diagnosis type, therapy type, and imaging type. In 2022, the diagnosis type segment held the largest market share and is expected to register the highest CAGR during the forecast period.
- Based on end user, the Europe colorectal cancer market is bifurcated into hospitals and diagnostic & research laboratories. In 2022, the hospitals segment held a larger market share.
- Based on country, the Europe colorectal cancer market is segmented into France, Germany, Italy, Spain, the UK, and the Rest of Europe. The Rest of Europe held the largest market share in 2022.
Table of Contents
1. Introduction
3. Research Methodology
4. Europe Colorectal Cancer- Market Landscape
5. Europe Colorectal Cancer Market - Key Market Dynamics
6. Europe Colorectal Cancer Market- Europe Analysis
7. Europe Colorectal Cancer Market Analysis - By Modality
8. Europe Colorectal Cancer Market Revenue and Forecast To 2028 - By End User
9. Europe Colorectal Cancer Market Revenue and Forecast to 2028 - Country Analysis
10. Global Colorectal Cancer Market - Industry Landscape
11. Company Profiles
12. Appendix
Companies Mentioned
- Abbott
- Amgen Inc.
- Bruker Corporation
- Clinical Genomics Technologies Pty Ltd.
- Epigenomics AG
- F. Hoffmann-La Roche AG
- Quest Diagnostics
- VolitionRx Limited
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 181 |
Published | September 2022 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 4627.82 Million |
Forecasted Market Value ( USD | $ 5819.96 Million |
Compound Annual Growth Rate | 2.9% |
Regions Covered | Europe |
No. of Companies Mentioned | 8 |