Colorectal Cancer Screening and Diagnostics Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

Colorectal Cancer Screening and Diagnostics consists of a range of tests and procedures which aims at detecting colorectal cancer at early stages with determining the extent of disease spread and further guiding the treatment decisions. The primary objective of the screening is to identify cancer it at an early stage. The screening and diagnostic consists of various tests which includes non-invasive and invasive and each with distinct advantages and limitations. Common screening and diagnostic includes tests like stool tests, colonoscopy, flexible sigmoidoscopy, CT Colonography, blood tests, biopsy, imaging tests and others.

MARKET OVERVIEW

The global market valuation of Colorectal Cancer Screening and Diagnostics market was valued at approximately USD 13 Billion in 2022 and it is estimated to reach USD 30.2 Billion by 2032 exhibiting a CAGR of 8.9% during the forecast period of 2023-2032, the screening and diagnostics are critical for early detection and timely treatment further leading to improved patient outcomes is driving the growth of the market and it will grow aligned with the growth in the healthcare sector.

GROWTH DRIVERS

The rising frequency of colorectal cancer globally is a significant driver for the growth of screening and diagnostic services, as the colorectal cancer case continue to increase the demand for early detection and treatment intervention by screening and diagnostic test. The public health campaigns and educational initiatives are increasing the awareness about the importance of colorectal cancer screening and diagnosis is one of a significant driver of the market. The lifestyle factors including unhealthy diet, smoking and excessive alcohol consumption contributes to the increased risk of colorectal cancer leading the market towards growth. The rising healthcare expenditure mainly in developed countries and providing customer centric approach from the healthcare professionals is also a significant growth driver.  

MARKET SEGMENTATION:

·         By Test Type – Blood test, stool test, fecal biomarker test, CRC DNA screening, Imaging test, Colonoscopy, biopsy and others

·         By End User – Hospitals, Diagnostic Centers and Cancer research centers

·         By Region - North America, Europe, Asia Pacific, the Middle East and Africa, and South America

Colorectal Cancer Screening and Diagnostics Market by Test Type Segment Review:

The blood test provides minimally invasive method to measure specific biomarkers like elevated levels in CEA that sociated with colorectal cancer which offers valuable insights into the disease progression and treatment process. The stool test is a non-invasive test and it is used for detecting occult blood in stool samples and widely used for colorectal cancer screening where gFOBT and FIT are commonly employed to identify the blood in the sample. Fecal biomarker test offers a more targeted approach by accessing specific biomarkers or genetic alterations that are associated with this type of cancer in the stools samples, basically these are DNA based essays or protein marker detection which provides higher sensitivity for detecting colorectal cancer. The CRC DNA screening test analyzes DNA mutations linked to that are linked to colorectal cancer in the stool or blood samples providing valuable information. The imaging test including CT scans, ultrasound MRI and BT scans, enables visualization of the colon and rectum for detecting the abnormalities that are linked with colorectal cancer. Colonoscopy allows direct visualization of colon and rectum and even the tissue biopsy of suspicious lesions. Biopsy involves the collection of tissue samples from suspicious lesions that are identified during the colonoscopy or imaging test which allows histopathological examination for the confirmation of the presence of colorectal cancer.

Colorectal Cancer Screening and Diagnostics Market by End User Segment Review:

The hospitals are the key providers of colorectal cancer screening and diagnostic services by offering a comprehensive range of facilities and expertise for the patient care. Hospital based screening and programs often involves multidisciplinary teams of specialists that may include gastroenterologist, oncologist, radiologist and pathologists and they collaborates to perform colonoscopies, imaging tests, biopsies and other diagnostic procedures and hospitals also plays a crucial role in the management of colorectal cancer patients by providing them treatment, surgery, chemotherapy and radiation therapy and as well as follow-up care and support services. The diagnostic centers specializes in providing a wide range of diagnostic tests and procedures that may include colorectal cancer screening and diagnostics. These centers offers convenient access to screening tests such as FOBT, FIT, sigmoidoscopies and colonoscopies as well as imaging tests such as CT scans, MRI scans and PT scans for colorectal detection and staging. Cancer Research centers focuses on advancing scientific knowledge and developing innovative approaches for the cancer prevention, the diagnosis and the treatment including colorectal cancer. They conduct clinical trials, translational research and epidemiological studies to evaluate the new screening processes, biomarkers, and therapeutic interventions for the colorectal cancer.

Colorectal Cancer Screening and Diagnostics Market by Regional Analysis:

America is a significant market for colorectal cancer screening and diagnostics market driven by the presence of advanced healthcare infrastructure and key global companies working in this segment and moreover increasing awareness among the healthcare providers and patients. Europe is a growing market driven by the presence of advanced diagnostic technologies and government initiatives to tackle the prevalence of cancer. Asia Pacific is a prominent market driven by the improving healthcare infrastructure and availability of the screening and diagnosis of colorectal cancer. The Middle East and Africa is expected to witness growth in this market, influenced by improving access to the healthcare services and rising investments in cancer care infrastructure.

Key Challenges:

The cost associated with colorectal cancer screening tests and diagnosing processes and moreover follow up care may be provided for individuals and mainly for those with very limited financial resources is significant key challenge for the market. The invasive screening procedures such as colonoscopy may pose challenge due to patient's discomfort and bowel preparation requirements and the potential pain which leads to reluctance and that poses a challenge for the market.

Competitive Landscape:

The leading companies are offering a range of diagnostic products for cancer detection and monitoring that includes molecular assays, amino acids and digital PCR systems used in colorectal cancer screening and diagnostics. Companies are providing genetic testing services and molecular diagnostic test for hereditary cancer syndromes that includes hereditary colorectal Cancer and the companies are focusing on personalized medicine and genetic testing that contributes to its competitiveness in the colorectal diagnostic market. The companies are developing advanced diagnostic imaging systems and laboratory diagnostics solutions in order to capture or maintain their market share.

Global Key Players:

·         Abbott Laboratories

·         BioMerieux SA

·         GE Healthcare

·         Qiagen NV

·         Roche

·         Siemens

·         Sysmex

·         Thermo Fisher Scientific

·         Hologic

·         Epigenomics AG