The colorectal cancer screening market size has experienced significant growth in recent years, projected to rise from $14.72 billion in 2023 to $15.61 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.1%. This growth during the historic period is driven by the increasing incidence of colorectal cancer, heightened government awareness campaigns, an aging population, the growing adoption of colonoscopy, and improved insurance coverage. In the forecast period, the colorectal cancer screening market size is expected to reach $19.83 billion in 2028, with a CAGR of 6.2%. Factors contributing to this expected growth include a shift toward non-invasive screening methods, the rise of home-based screening tests, increasing obesity prevalence, the adoption of value-based healthcare models, and the formation of public-private partnerships. Key trends anticipated during this period are the integration of AI in screening and diagnostics, the expansion of screening guidelines to include younger populations, the broader use of genomic testing for cancer risk assessment, growth in mobile health (mHealth) platforms, and collaborations between pharmaceutical and diagnostic companies.
Global Colorectal Cancer Screening Market Key Driver
The aging population is expected to drive the growth of the colorectal cancer screening market. This demographic trend is characterized by a rising proportion of elderly individuals due to increased life expectancy and declining birth rates. Early detection and preventive measures for colorectal cancer are crucial for managing the needs of this population. In January 2024, the Population Reference Bureau noted that the number of Americans aged 65 and older would rise from 58 million in 2022 to 82 million by 2050. Therefore, the aging population is boosting the colorectal cancer screening market.
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Global Colorectal Cancer Screening Market Segments
The colorectal cancer screening market covered in this report is segmented –
1) By Type: Stool-Based, Fecal Immunochemical Test (FIT), Fecal Occult Blood Test (FOBT), Stool Deoxyribonucleic Acid (DNA) Test, Colonoscopy, Other Types
2) By Age Group: Below 50 Years, 50-64 Years, Above 65 Years
3) By End User: Hospitals And Clinics, Clinical Laboratories, Diagnostic Imaging Centers, Other End-Users
By Geography:The regions covered in the colorectal cancer screening market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the colorectal cancer screening market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Colorectal Cancer Screening Industry Players
F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic plc, Siemens Healthineers, FUJIFILM Holdings Corporation, GE HealthCare, Boston Scientific Corporation, Olympus Corporation, Hologic Inc., bioMérieux SA, QuidelOrtho Corporation, Sysmex Corporation, QIAGEN N.V., Exact Sciences Corporation, Guardant Health Inc., Eiken Chemical Co. Ltd., HemoCue AB, Clinical Genomics Inc., Polymedco LLC, Hemosure Inc., Geneoscopy Inc., Novigenix SA
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Colorectal Cancer Screening Market Overview
Colorectal cancer screening involves testing to detect early signs of colorectal cancer before symptoms develop. Early detection through screening can identify precancerous polyps or cancer at a more treatable stage, significantly improving outcomes. Screening is recommended for adults starting at age 45 or earlier for those at higher risk.
Colorectal Cancer Screening Global Market Report 2023 provides data on the global colorectal cancer screening market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The colorectal cancer screening market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
