The Asia Pacific colorectal cancer diagnostics market was valued at US$ 2,461.75 million in 2023 and is expected to reach US$ 3,859.28 million by 2028. It is estimated to register a CAGR of 9.4% from 2023 to 2028.
Due to rapid socioeconomic development, environmental problems, lifestyle changes, and urbanization, people in China face several obstacles in maintaining and improving their health. The Chinese government has announced the Healthy China 2030 Plan, emphasizing the strategic importance of health for China's growth. The growing investments in the health sector and an increasing prevalence of colon cancer are driving the growth of the Asia Pacific colorectal cancer diagnostics market in China.
Based on modality, the Asia Pacific colorectal cancer diagnostics market is bifurcated into imaging tests and stool-based tests. In 2023, the imaging tests segment held a larger share of the Asia Pacific colorectal cancer diagnostics market. The market for the imaging tests segment is further segmented into colonoscopy, CT colonography, flexible sigmoidoscopy, capsule endoscopy, and others. The market for the stool based tests segment is subsegmented into faecal immunochemical test (fit), guaiac-based faecal occult blood test (gFOBT), and stool DNA test.
Based on end user, the Asia Pacific colorectal cancer diagnostics market is segmented into hospitals, diagnostic laboratories, cancer research institutes, and others. In 2023, the hospitals segment held the largest share of the Asia Pacific colorectal cancer diagnostics market.
Based on country, the Asia Pacific colorectal cancer diagnostics market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. In 2023, China accounted for the largest share of the Asia Pacific colorectal cancer diagnostics market.
Medtronic Plc, Illumina Inc, Epigenomics AG, Clinical Genomics Technologies Pty Ltd, F. Hoffmann-La Roche Ltd, Quest Diagnostics Inc, Siemens Healthineers AG, Bruker Corp, and Eiken Chemical Co., Ltd. are the leading companies operating in the Asia Pacific colorectal cancer diagnostics market.
Reasons to Buy
Increasing Prevalence of Colorectal Cancer Drives Asia Pacific Colorectal Cancer Diagnostics Market Growth
Colorectal cancer is a malignant tumor that develops in colonic or rectal tissues. Colorectal cancer is increasingly affecting populations in Asian countries. According to the International Agency for Research on Cancer & GLOBOCAN, ~1 million new colorectal cancer cases were reported in Asia in 2020. Japan, China, Malaysia, Singapore, Korea, and Turkey reported higher prevalence rates compared to other countries in Asia Pacific. Surgery is the most common treatment for all stages of colon cancer. In ideal situations, if the cancer is diagnosed in the early stages, doctors can remove the tumor via surgical procedures. A colonoscopy is an important screening test for colorectal cancer diagnostics, and it has become a part of routine cancer screening. Thus, the rising prevalence of colorectal cancer drives the growth of the Asia Pacific colorectal cancer diagnostics market .Asia Pacific Colorectal Cancer Diagnostics Market Overview
The Asia Pacific colorectal cancer diagnostics market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Colorectal cancer (CRC) ranked third among China's most diagnosed cancers in 2022, according to a study titled “Colorectal Cancer Screening in China: Status, Challenges, and Prospects." As per GLOBOCAN, an estimated 555,477 newly diagnosed colorectal cancer cases and 286,162 colorectal cancer-related deaths occurred in China in 2020. With the aging population, socioeconomic developments, and lifestyle changes, the burden of colorectal cancer has increased in China in the past few decades, especially in urban and eastern regions. Numerous practices and studies have shown that early detection and treatment of CRC and its precancerous lesions through screening effectively reduces the mortality and incidence of CRC. Due to the large population and limited healthcare resources in China, a two-tier screening strategy has been adopted in most CRC screening programs. It is using a noninvasive or minimally invasive approach to select high-risk individuals and individuals who should undergo colonoscopy (the gold standard for CRC screening). Most guidelines in China recommend colonoscopy, flexible sigmoidoscopy, or faecal occult blood testing (mainly FIT) for people at average risk between the age of 50 and 75. Intestinal capsule endoscopy, computed tomography-colonography (CTC), and multi-target DNA have also been recommended in some guidelines or by consensus. In August 2022, Pillar Biosciences received approval from China's National Medical Products Administration to commercialize its OncoReveal Dx Colon Cancer Assay. This approval was important to oncologists across China, who needed a streamlined, efficient, and accurate way to identify the right therapy for their patients.Due to rapid socioeconomic development, environmental problems, lifestyle changes, and urbanization, people in China face several obstacles in maintaining and improving their health. The Chinese government has announced the Healthy China 2030 Plan, emphasizing the strategic importance of health for China's growth. The growing investments in the health sector and an increasing prevalence of colon cancer are driving the growth of the Asia Pacific colorectal cancer diagnostics market in China.
Asia Pacific Colorectal Cancer Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Colorectal Cancer Diagnostics Market Segmentation
The Asia Pacific colorectal cancer diagnostics market is segmented into modality, end user, and country.Based on modality, the Asia Pacific colorectal cancer diagnostics market is bifurcated into imaging tests and stool-based tests. In 2023, the imaging tests segment held a larger share of the Asia Pacific colorectal cancer diagnostics market. The market for the imaging tests segment is further segmented into colonoscopy, CT colonography, flexible sigmoidoscopy, capsule endoscopy, and others. The market for the stool based tests segment is subsegmented into faecal immunochemical test (fit), guaiac-based faecal occult blood test (gFOBT), and stool DNA test.
Based on end user, the Asia Pacific colorectal cancer diagnostics market is segmented into hospitals, diagnostic laboratories, cancer research institutes, and others. In 2023, the hospitals segment held the largest share of the Asia Pacific colorectal cancer diagnostics market.
Based on country, the Asia Pacific colorectal cancer diagnostics market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. In 2023, China accounted for the largest share of the Asia Pacific colorectal cancer diagnostics market.
Medtronic Plc, Illumina Inc, Epigenomics AG, Clinical Genomics Technologies Pty Ltd, F. Hoffmann-La Roche Ltd, Quest Diagnostics Inc, Siemens Healthineers AG, Bruker Corp, and Eiken Chemical Co., Ltd. are the leading companies operating in the Asia Pacific colorectal cancer diagnostics market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific colorectal cancer diagnostics market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific colorectal cancer diagnostics market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the colorectal cancer diagnostics market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Table of Contents
1. Introduction
3. Research Methodology
4. Asia Pacific Colorectal Cancer Diagnostics Market - Market Landscape
5. Asia Pacific Colorectal Cancer Diagnostics Market - Key Market Dynamics
6. Colorectal Cancer Diagnostics Market - Asia Pacific Analysis
7. Asia Pacific Colorectal Cancer Diagnostics Market - Revenue and Forecast to 2028 - by Modality
8. Asia Pacific Colorectal Cancer Diagnostics Market - Revenue and Forecast to 2028 - by End User
9. Asia Pacific Colorectal Cancer Diagnostics Market - Revenue and Forecast to 2028 - Country Analysis
10. Asia Pacific Colorectal Cancer Diagnostics Market-Industry Landscape
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Companies Mentioned
- Bruker Corp
- Clinical Genomics Technologies Pty Ltd
- Eiken Chemical Co., Ltd.
- Epigenomics AG
- F. Hoffmann-La Roche Ltd
- Illumina Inc
- Medtronic Plc
- Quest Diagnostics Inc
- Siemens Healthineers AG
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 151 |
Published | August 2023 |
Forecast Period | 2023 - 2028 |
Estimated Market Value in 2023 | 2461.75 Million |
Forecasted Market Value by 2028 | 3859.28 Million |
Compound Annual Growth Rate | 9.4% |
Regions Covered | Asia Pacific |
No. of Companies Mentioned | 9 |