The colorectal cancer market in Asia Pacific is expected to grow from US$ 3,864.66 million in 2022 to US$ 5,169.04 million by 2028; it is estimated to grow at a CAGR of 3.7% from 2022 to 2028.
The growing pharmaceutical industry in emerging economies is creating lucrative opportunities for significant players to expand their businesses in the Asia Pacific colorectal cancer market. The pharmaceutical sector in India is expected to grow from US$ 42 billion in 2021 to US$ 55 billion by 2025; it is estimated to register at a CAGR of 37% from 2021 to 2025. According to India Brand Equity Foundation (IBEF) statistics in April 2019, India is the largest provider of generic drugs worldwide. The Indian pharmaceutical industry supplies ~40% of the generic demand in the US, with ~50% of the demand for multiple vaccines and 25% of all medicines in the UK. Moreover, India has a massive number of scientists and engineers with the potential to grow the healthcare industry remarkably.
Major colorectal cancer market players focus on emerging markets such as Singapore and China as they have many colorectal cancer patients, along with growing medical tourism. As per the Australian Institute of Health and Welfare, over ~15,540 new cases of colorectal cancer were diagnosed in 2021. Moreover, as per the Malaysia Healthcare Travel Council, in 2019, over 1.22 million travelers visited Malaysia for healthcare purposes. The low cost of treatment and incorporation of advanced technologies to provide less waiting time for procedures in Asia Pacific are likely to boost the number of surgeries associated with colorectal cancer. This ultimately increases the demand for colorectal cancer diagnostics and treatment.
Thus, the increasing medical tourism and the growing pharmaceutical industry in emerging countries are expected to boost the APAC colorectal cancer market growth; it is also anticipated to provide significant growth opportunities to the players operating in the market during the forecast period.
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 Asia Pacific colorectal cancer market. The Asia Pacific colorectal cancer market is expected to grow at a substantial CAGR during the forecast period.
The growing pharmaceutical industry in emerging economies is creating lucrative opportunities for significant players to expand their businesses in the Asia Pacific colorectal cancer market. The pharmaceutical sector in India is expected to grow from US$ 42 billion in 2021 to US$ 55 billion by 2025; it is estimated to register at a CAGR of 37% from 2021 to 2025. According to India Brand Equity Foundation (IBEF) statistics in April 2019, India is the largest provider of generic drugs worldwide. The Indian pharmaceutical industry supplies ~40% of the generic demand in the US, with ~50% of the demand for multiple vaccines and 25% of all medicines in the UK. Moreover, India has a massive number of scientists and engineers with the potential to grow the healthcare industry remarkably.
Major colorectal cancer market players focus on emerging markets such as Singapore and China as they have many colorectal cancer patients, along with growing medical tourism. As per the Australian Institute of Health and Welfare, over ~15,540 new cases of colorectal cancer were diagnosed in 2021. Moreover, as per the Malaysia Healthcare Travel Council, in 2019, over 1.22 million travelers visited Malaysia for healthcare purposes. The low cost of treatment and incorporation of advanced technologies to provide less waiting time for procedures in Asia Pacific are likely to boost the number of surgeries associated with colorectal cancer. This ultimately increases the demand for colorectal cancer diagnostics and treatment.
Thus, the increasing medical tourism and the growing pharmaceutical industry in emerging countries are expected to boost the APAC colorectal cancer market growth; it is also anticipated to provide significant growth opportunities to the players operating in the market during the forecast period.
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 Asia Pacific colorectal cancer market. The Asia Pacific colorectal cancer market is expected to grow at a substantial CAGR during the forecast period.
Asia Pacific Colorectal Cancer Market Segmentation
The Asia Pacific colorectal cancer market is segmented into modality, end user, and country.- Based on modality, the Asia Pacific 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 Asia Pacific 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 Asia Pacific colorectal cancer market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held the largest market share in 2022.
Table of Contents
1. Introduction
3. Research Methodology
4. APAC Colorectal Cancer- Market Landscape
5. APAC Colorectal Cancer Market - Key Market Dynamics
6. APAC Colorectal Cancer Market- APAC Analysis
7. APAC Colorectal Cancer Market Analysis - By Modality
8. APAC Colorectal Cancer Market Revenue and Forecast To 2028 - By End User
9. APAC Colorectal Cancer Market Revenue and Forecast to 2028 - Country Analysis
10. Colorectal Cancer Market - Industry Landscape
11. Company Profiles
12. Appendix
Companies Mentioned
- Abbott
- Amgen Inc.
- Bruker Corporation
- Clinical Genomics Technologies Pty Ltd.
- EDP Biotech Corporation
- Epigenomics AG
- F. Hoffmann-La Roche AG
- Quest Diagnostics
- VolitionRx Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 185 |
| Published | September 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 3864.66 Million |
| Forecasted Market Value ( USD | $ 5169.04 Million |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 9 |
