|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The Colorectal Cancer Screening Market is expected to register a CAGR of 5.4% in the forecast period of 2021-2026.
The COVID-19 pandemic is expected to have a significant impact on the market. Many countries are in lockdown and have suspended trade with other countries and implemented travel restrictions, which has led to the decline in healthcare services, including diagnosis of various diseases. However, the situation is recovering in many of the countries. Due to the restrictions, the diagnosis of bowel cancer decreased, which is likely to impact the market growth in 2021.
For instance, according to the article, 'Effect of the COVID-19 pandemic on colorectal cancer care in France', published in the Lancet magazine in May 2021, researchers found a 31% decrease in new referrals for colorectal cancer in 2020 (March to May) relative to the average of the previous 2 years. Cancer care and maintaining high standards of diagnosis and treatment have been the major priorities of the national healthcare bodies and international healthcare systems across the world. However, the pandemic has shifted this focus away from cancer services. Colorectal cancer patients are particularly vulnerable to the disruption of their care as diagnosis through endoscopy was stopped due to concerns about virus transmission
The major factors for the growth of the colorectal cancer screening market include the advent of efficacious genetic tests, an increase in the prevalence of colorectal cancer, and increasing cancer prevention initiatives.
Most of the Colorectal Cancer cases exhibit familial clustering, which means that tens of thousands of individuals have a disease with a potentially definable genetic component and gets passed down over generations. The risk of Colorectal Cancer is higher in people with a strong family history of colorectal cancer, i.e., inherited colon cancer syndromes. There are a variety of genetic tests that have been developed for colon cancer that include hereditary nonpolypsis colon cancer (HNPCC) test, familial adenomatous polyposis (FAP) test, and many others. Genetic testing for colon cancer creates better opportunities for early diagnosis. For instance, the most common genetic changes related to colon cancer are familial adenomatous polyposis (FAP) and hereditary non-polyposis colorectal cancer (HNPCC). These genetic changes could be identified at a very early age (less than 40 years) through genetic testing. If these medical screenings are employed, the number of colon cancer cases found in the early stages may increase. Also, gene therapies to alter these mutations are likely to be developed. The increasing awareness about genetic screening methods and advantages for undergoing these tests (not only for early detection and treatment, but also for the removal of precancerous cells, which are much cheaper than the usual run of chemotherapy) are driving the colorectal cancer screening market.
Scope of the Report
As per the scope of this report, colorectal cancer (CRC) is also known as bowel cancer and colon cancer. It is the development of cancer from the colon or rectum. Colorectal cancer (CRC) screening tests use kits and various medical devices for diagnosing cancer. The Colorectal Cancer Screening market is segmented by Screening Test (Stool-based Tests, Colonoscopy, CT Colonography (Virtual Colonoscopy), Flexible Sigmoidoscopy, and Other Screening Tests), End-User (Hospitals, Independent Diagnostic Labs, Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.
|By Screening Tests|
|CT Colonography (Virtual Colonoscopy)|
|By End User|
|Independent Diagnostic Labs|
|Other End Users|
Key Market Trends
Colonoscopy is Expected to Dominate the Market
For many years, colonoscopy has been the preferred modality for both colorectal cancer screening and prevention. Colonoscopy represents a very important diagnostic modality for screening for colorectal cancer, because it has the ability to both detect and effectively remove pro-malignant and malignant lesions. According to the United States Preventive Services Task Force in May 2021, the recommended age at which adults can be screened for colorectal cancer is 45 to 75. The decision to be screened after age 75 should be made on an individual basis. Thus, due to the age criteria, many people can be screened for the disease. In colonoscopy, a long, thin, flexible, lighted tube is used to check for polyps or cancer inside the rectum and the entire colon. During the test, the doctor can find and remove most polyps and some cancers. Colonoscopy can also be used as a follow-up test if anything unusual is found during one of the other screening tests.
Moreover, colorectal cancer incidence is expected to increase in the future. As per the 2020 report by the International Agency for Research on Cancer, the number of cases of colon cancer cases are exepcted to rise from 1.15 million to over 1.92 million by 2040. As colonoscopy is the preferred diagnostic screening test for the cancer, the demand for colonoscopy will rise with increasing incidence of cancer. This will also boost the market growth.
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North America is Expected to Dominate the Market
The United States and Canada have a developed and well-structured health care system. These systems also encourage research and development. These policies encourage global players to enter the United States and Canada market. The United States is the largest market in the region. According to the International Agency for Research on Cancer, colon cancer is reported to be one of America’s deadliest cancer with 54,443 deaths in 2020, followed by lung cancer. It was estimated that approximately 155,008 cases of colorectal cancer were found in 2020.
This high disease incidence may eventually increase the demand for colorectal cancer screening procedures. Several companies are coming up with advanced screening procedures, including genetic tests, which are gaining acceptability in the United States market. Initiatives, like National TV campaigns, digital marketing, primary care sales force, collated materials, clinical and health publications, etc., are helping to increase the adoption of colorectal cancer screening procedures in the United States. Also, government initiatives are increasing awareness, which is playing an integral role and driving the market for colorectal cancer screening in the country. For instance, the United States government, in March 2021, declared the month as the National Colorectal Cancer Awareness Month. Increasing number of colorectal cancer incidences in the United States, along with several educational and financial initiatives, is expected to increase the colorectal cancer screening market in the United States in the future.
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The market studied is a moderately consolidated market, owing to the presence of many small and large market players. Some of the market players are Abbott Laboratories, Clinical Genomics Technologies Pty Ltd, Epigenomics Inc., Exact Sciences Corporation, F. Hoffmann-La Roche AG, Hemosure Inc., Novigenix SA, Quidel Corporation, Siemens Healthineers AG, and Sysmex Corporation.
In April 2021, the United States Food and Drug Administration announced the approval of GI Genius, a device using artificial intelligence based on machine learning to help clinicians detect lesions like polyps or suspected tumors in the colon during a colonoscopy.
In March 2021, the National Health Service of England announced that it is conducting trials on Pillcam Colon 2 technology, from the United States medical device firm Medtronic. The device is an edible miniature camera to check for signs of colon cancer.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Advent of Efficacious Genetic Tests
4.2.2 Increase in Prevalence of Colorectal Cancer
4.2.3 Increasing Cancer Prevention Initiatives
4.3 Market Restraints
4.3.1 High Screening Tests Costs
4.3.2 Inadequate Healthcare Access in Developing Countries
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Screening Tests
5.1.1 Stool-based Tests
5.1.3 CT Colonography (Virtual Colonoscopy)
5.1.4 Flexible Sigmoidoscopy
5.2 By End User
5.2.2 Independent Diagnostic Labs
5.2.3 Other End Users
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
5.3.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Clinical Genomics Technologies Pty Ltd
6.1.3 Epigenomics Inc.
6.1.4 Exact Sciences Corporation
6.1.5 F. Hoffmann-La Roche AG
6.1.6 Hemosure Inc.
6.1.7 Novigenix SA
6.1.8 Quidel Corporation
6.1.9 Siemens Healthineers AG
6.1.10 Sysmex Corporation
6.1.11 Debiopharm Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Colorectal Cancer Screening Market market is studied from 2018 - 2026.
What is the growth rate of Global Colorectal Cancer Screening Market?
The Global Colorectal Cancer Screening Market is growing at a CAGR of 5.4% over the next 5 years.
Which region has highest growth rate in Global Colorectal Cancer Screening Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Colorectal Cancer Screening Market?
North America holds highest share in 2020.
Who are the key players in Global Colorectal Cancer Screening Market?
Abbott Laboratories, Epigenomics Inc., Exact Sciences Corporation, Hemosure Inc., Clinical Genomics Technologies Pty Ltd are the major companies operating in Global Colorectal Cancer Screening Market.