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.
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).
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.
The Cardinal Matrix - Market Competition Analysis
Based on the analysis presented in the The 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.
COVID-19 Impact Analysis
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.Market Growth Factors
Growing Risk of Colorectal Cancer
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.Government Cancer Screening Policies
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.Market Restraining Factors
Negative Effects of Colonoscopies May Lead to Decreased Adoption of Testing
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.Stool-based type Outlook
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.End-user Outlook
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.
Type Outlook
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.Regional Outlook
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.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).
Strategies Deployed in the Market
- Jul-2023: BioMerieux S.A. signed a partnership with Oxford Nanopore, a medical technology company, to provide nanopore sequencing solutions within the infectious disease diagnostics market. The partnership provides BioMerieux with opportunities for exploring new technologies for improved patient care.
- Dec-2022: Olympus Corporation took over Odin Vision, an endoscopy solutions provider. The acquisition reinforces Olympus’ strategy for delivering digital patient care.
- Apr-2022: BioMerieux S.A. acquired Specific Diagnostics, an antimicrobial susceptibility test (AST) specialist. The acquisition enhances bioMérieux's capability to deliver instant AST results by adding specific Diagnostics' SPECIFIC REVEAL Rapid AST offerings to its portfolio.
- May-2021: Fujifilm Holdings Corporation signed a partnership with Helio Health, an AI-powered healthcare solutions provider, to develop solutions for early detection of liver cancer. The partnership would provide clinicians around the world with market-leading diagnostic and surveillance technologies.
- Apr-2021: Siemens took over Varian Medical Systems, a U.S. company active in the region of cancer research & therapy. This acquisition would allow Siemens to strengthen the competitiveness & independence of Siemens Healthineers. The acquisition further focused on creating a world-leading company in cancer therapy.
- Jan-2021: Fujifilm Holdings Corporation expanded its geographical footprint by opening a new centre named “NURA” in Bangalore, India. The centre would serve as a medical screening service business for the company.
Scope of the Study
By Type
- Colonoscopy
- Stool-based
- Fecal Immunochemical Test (FIT)
- Fecal Occult Blood Test (FOBT)
- Stool-DNA Test
- Others
By End-user
- Hospitals & Clinics
- Clinical Laboratories
- Diagnostic Imaging Centres
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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
- Siemens Healthineers AG (Siemens AG)
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Colorectal Cancer Screening Market by Type
Chapter 6. Global Colorectal Cancer Screening Market by End-user
Chapter 7. Global Colorectal Cancer Screening Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- 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
- Siemens Healthineers AG (Siemens AG)
Methodology
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