Colorectal Cancer Screening Tests Market

Report Description
Table of Contents

Report Description

The global colorectal cancer screening tests market size is estimated to be USD xx billion in 2021 and is expected to witness a CAGR of xx% during the forecast period. Introduction of effective genetic tests is a key driver for the growth of the global colorectal cancer screening tests market. Additionally, increasing global cases of colorectal cancer and growth in cancer prevention initiatives in the colorectal cancer screening tests market are some of the other drivers propelling the market growth. Nevertheless, insufficient healthcare access in developing economies and lack of knowledge regarding colorectal cancer screening tests among developing economies are expected to restrain the global market growth.

Global Colorectal Cancer Screening Tests Market Size (USD Billion), 2021-2029

Source: Erevna Healthcare

By Screening Test

Based on screening test, the market is segmented into flexible sigmoidoscopy, stool-based tests, CT colonography (virtual colonoscopy), colonoscopy, and others. In 2021, the colonoscopy segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to the ability of this screening test to both identify and efficiently remove pro-malignant and malignant lesions worldwide. CT colonography (virtual colonoscopy) segment projected to grow at a profitable CAGR during the forecast period. This is attributed to the increasing investments by major pharmaceutical companies in the colorectal cancer screening market.

By End User

Based on end user, the market is segmented into independent diagnostic labs, hospitals, and other end users. In 2021, the hospitals segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to the increase in incidence of colorectal cancer and technological advancements in screening tests being conducted in hospitals worldwide. Independent diagnostic labs segment projected to grow at a profitable CAGR during the forecast period. This is attributed to the increasing awareness among patients related to the benefits of early cancer detection thus increasing the number of tests being conducted in these labs.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the presence of major pharmaceutical players in the region, increase in the share of healthcare expenditure in the per capita income, growth in investments from government, accessibility of technological advanced products in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the fewer stringent regulations related to new product launches, growing government and corporate investment in healthcare industry, and increasing travel tourism in the developing economies are the major factors in this region.

Competitor Insights

Some of the key players in the colorectal cancer screening tests market are Abbott Laboratories (U.S.); Clinical Genomics Pty Ltd (U.S.); Epigenomics, Inc. (Germany); EXACT Sciences Corporation (U.S.); F. Hoffmann-La Roche AG (Switzerland); Hemosure Inc. (U.S.); Novigenix SA (Switzerland); Quidel Corporation (U.S.); Siemens Healthineers AG (Germany); and Sysmex Corporation (Japan). The leading players operating in the colorectal cancer screening tests industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2018 to 2026. The colorectal cancer screening tests market report is categorized into the following segments and subsegments: