Global Colorectal Cancer (CRC) Screening Market (2023 Edition): Analysis by Screening Type, End-Use, By Region, By Country: Market Insights and Forecast (2019-2029)
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What is Colorectal Cancer Screening?
Precancerous polyps (abnormal growths) in the colon or rectum are generally the origin of colorectal cancer. Precancerous polyps can be found by screening tests so they can be removed before they develop into cancer. Additionally, early detection of colorectal cancer with screening tests is favourable for treatment. Although the incidence of colorectal cancer is declining generally, it is increasing among young persons. Regular screening lowers mortality and saves lives, and the US Preventive Services Task Force recently lowered the screening age to begin at 45.
It is advised for use with a number of colorectal cancer screening techniques, such as stool tests, flexible sigmoidoscopy, colonoscopy, CT colonography (virtual colonoscopy), and other tests for detection.
Colorectal Cancer Screening Market Overview
The Colorectal Cancer Screening Market is showing growth at a CAGR of 4.02% in 2019-2022 and is expected to witness a robust growth rate in at CAGR 7.09% during the period 2024-2029. The market is valued at USD 17171.99 Million in 2022 which is expected to reach in 2029 at USD 27720.13 Million. Ageing populations, rising CRC incidence with age, a preference for healthy living, increased awareness of the severity of cancers, rising bowel cancer incidence, rising prevalence of disease, and increased government policies for CRC screening in an effort to reduce diseases globally are some of the key factors influencing demand for colorectal cancer screening globally.
The Global Colorectal Cancer Screening Market is expected to grow in the forecast period and register a market value of USD 27720.13 Million in 2029 at a CAGR of 7.09% during the forecast period. Technology developments have improved CRC detection and treatment, improving survival and fatality rates. The number of people who have cancer and have survived it will probably increase along with the population's ageing. Thus, CRC is increasingly being regarded as a chronic disorder that necessitates care that extends beyond the initial stages of diagnosis and treatment.
A patient may be diagnosed with colorectal cancer following the start of symptoms or during the screening of asymptomatic individuals. Constipation changes, anaemia, weight loss, and abdominal discomfort are all signs of colon cancer. The signs of rectal cancer include bleeding, constipation, and pain. To detect polyps or colorectal cancer, several screening tests can be used. The available CRC screening tests are typically classified as either stool-based screening procedures like FIT, Faecal Occult Blood Test (FOBT), or mt-sDNA (Cologuard in the United States), or direct visualization screening methods like sigmoidoscopy and colonoscopies.
Increasing prevalence of colorectal cancer
Although it may develop at any age, colorectal cancer mainly affects older persons. Inside the colon, tiny polyps—small, non-cancerous (benign) clusters of cells—typically form at the beginning. Some of these polyps may develop into colon cancer in the future. Over the past few years, the prevalence of CRC has been alarmingly rising throughout the world. With an anticipated 515,637 male fatalities and 419,536 female deaths from CRC in 2020, it is the third highest cause of cancer-related deaths globally. Today, more than 5.25 million people worldwide are coping with CRC (5-year prevalence).
Prevalence is most frequently defined clinically as the proportion of the population at risk that has the condition. Development in the fight against colorectal cancer was encouraging for a long time. Though there has been progress, not all of the news is positive. Despite declines in the elder population, doctors are concerned about the increased rates of colorectal cancer and fatalities among the younger population.
According to a publication from the American Cancer Society (ACS), there will be 106,970 new cases of colon cancer and 46,050 new cases of rectal cancer in the United States in 2023. The lifetime risk of developing colorectal cancer is roughly 1 in 23 for men and 1 in 26 for women.
Rise in incidence of colorectal cancer
In 2020, colorectal cancer (CRC), the second deadliest cancer and the third most frequent malignancy, is expected to cause 0.9 million deaths worldwide. Due to Westernization, the prevalence of CRC is rising in middle- and low-income countries whereas it is higher in more developed nations. The prevalence of colorectal cancer in adults under 50 is increasing. In fact, the American Cancer Society (ACS) reports that the disease has been progressively rising in younger persons over the past 30 to 50 years. Based on estimates of ageing, rising populations, and advancement in society, it is expected that the number of new CRC cases worldwide will reach 3.2 million in 2040. The increased exposure to environmental risk factors brought on by the westernization of lifestyle and nutrition is mainly responsible for the rise in CRC incidence.
CRC is generally asymptomatic. Most people with CRC are already in an advanced stage when symptoms like rectal bleeding, anaemia, or stomach pain start to show up. At this point, the disease is aggressive, malignant, and metastatic. One of the factors influencing survival disparities and the high number of CRC fatalities worldwide is advanced diagnosis. Regular screening should begin sooner for those who have a high risk of CRC because of ulcerative colitis, prior adenomas, or family history.
Segment-Wise Insights
Colonoscopy accounts for USD 10202.77 Million in 2022
In the category of colorectal cancer screening types, colonoscopy held a commanding 59% market share in 2022. Colonoscopy screening is a well-accepted test on a global scale. Regardless of the screening method, the health system must guarantee that colonoscopies and cancer therapy are accessible; otherwise, CRC screening won't be effective.
Hospitals & Clinics has the highest share in Colorectal Cancer Screening Market
In the actual year, the Hospitals & Clinics account for a significant amount. This is attributable to the rise in colorectal cancer cases and improvements in screening methods used by hospitals around the world. The most popular medical facilities for screening and treating patients are hospitals and clinics (outpatient facilities).
Regional Insights
According to Azoth Analytics Estimates, Asia-pacific accounts for the largest revenue share in 2022. Growth in the Asia-Pacific Colorectal Cancer Screening market is supported by factors such as growing population, the high rates of urbanization, economic expansion, and rising health awareness in Asian nations will all contribute to an increase in Colorectal Cancer Screening in the Asia-Pacific region. The market demand has increased due to rising colorectal cancer awareness in the Asia-Pacific region. The industry is expanding primarily due to increased healthcare costs for better health services. During this vital time, the top market players concentrate on a variety of service launches and approvals. The demand for colorectal cancer diagnostics testing is also growing as a result of advancements in diagnostic methods and procedures.
Competitive Landscape
Global Colorectal Cancer Screening Market is fragmented with top 10 companies accounting for a significant revenue share in the year 2022. Leading companies and brands in the market are executing different strategies and partnerships to strengthen the foothold and increase the competitiveness and product offerings in the market.
Olympus Corporation, EXACT Sciences Corporation, Quest Diagnostics, QuidelOrtho Corporation, Fujifilm Holdings Corporation, Eiken Chemical Co. Ltd, among others are the leading companies in the Global Colorectal Cancer Screening Market.
Leading companies in the Global Colorectal Cancer Screening Market include:
Olympus Corporation
EXACT Sciences Corporation
Quest Diagnostics
QuidelOrtho Corporation
BioMerieux SA
Fujifilm Holdings Corporation
Eiken Chemical Co. Ltd
Epigenomics AG
Siemens Healthineers
Danaher Corporation
Recent Investment/Development in the Colorectal Cancer Screening Market
Segmentations in the Report
By Screening Type
By End-use
By Region
Frequently Asked Questions
What is the expected market value of Colorectal Cancer Screening Market in 2029?
Global Colorectal Cancer Screening Market is expected to be valued at USD 27720.13 Million in 2029.
At what growth rate is Colorectal Cancer Screening Market expected to grow in the forecast period?
During 2024-2029, Colorectal Cancer Screening Market is expected to grow at CAGR of 7.09%.
Which Region dominates the Colorectal Cancer Screening Market?
Asia-pacific contributes the largest revenue share in the Colorectal Cancer Screening Market and is expected to continue in the forecast period as well.
Which are the leading companies in the Colorectal Cancer Screening Market?
The leading companies in Colorectal Cancer Screening Market are Olympus Corporation, EXACT Sciences Corporation, Quest Diagnostics, QuidelOrtho Corporation, Fujifilm Holdings Corporation, Eiken Chemical Co. Ltd, BioMerieux SA, Epigenomics AG, Siemens Healthineers, Danaher Corporation, etc.
At what rate will China Colorectal Cancer Screening Market Grow?
During 2024-2029, China Colorectal Cancer Screening Market is expected to grow at a CAGR of 9.47%
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