How Has the Colorectal Cancer Screening Market Evolved Historically and What is its Current Size?
The colorectal cancer screening market has seen considerable growth due to a variety of factors.
• In recent times, the market for colorectal cancer screening has seen robust growth. It's projected to escalate from $15.61 billion in 2024 to $16.6 billion in 2025 with a compound annual growth rate (CAGR) of 6.3%.
Several factors have contributed to this growth in the past, including a higher incidence of colorectal cancer, government-led awareness drives, an aging demographic, increased use of colonoscopy, and better insurance provisions.
What Is The Projected Growth Of The Colorectal Cancer Screening Template Market?
The colorectal cancer screening market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for colorectal cancer screening is anticipated to undergo significant growth in the subsequent years, expanding to $21.01 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%.
The expansion during the forecasted period is related to the transition towards non-invasive screening techniques, the rise in home-based screening tests, increasing cases of obesity, the surge in the uptake of value-based healthcare, along with the growth of public-private partnerships. Key developments projected for the forecast period encompass the incorporation of AI in screening and diagnoses, extension of screening guidelines to the younger demographic, increased utilization of genomic testing for cancer risk, development in mobile health (mHealth) platforms, and partnerships formed between pharmaceutical and diagnostic firms.
What Are The Key Drivers Fueling Growth In The Colorectal Cancer Screening Market?
The growth of the colorectal cancer screening market is anticipated to be driven by the escalating aged population. The term 'aging population' corresponds to a demographic pattern in which the ratio of elderly people (usually aged 65 or older) rises in comparison to the working-age demographic, typically due to extended lifespans and dwindling birth rates. The aged population is increasing due to lengthier lifespans and decreasing birth rates, resulting in a larger ratio of elderly people in the worldwide population. Colorectal cancer screening plays a critical role in addressing the demands of the expanding elderly population through facilitating early detection and proactive steps. These efforts target the high cancer risk related to elderly individuals, improving their comprehensive health outcomes. For instance, the Population Reference Bureau (PRB), a nonprofit research organization from the US, revealed in January 2024, that the count of American citizens aged above 65 would increase from 58 million in 2022 to 82 million by 2050. This projection indicates an increase of 47%, while their share as a percentage of the entire population will grow from 17% to 23%. Hence, the rising elderly populace is fueling the colorectal cancer screening market.
What Are The Principal Market Segments In The Global Colorectal Cancer Screening Industry?
The colorectal cancer screeningmarket 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
Subsegments:
1) By Stool-Based Tests: Stool-Based Tests
2) By Fecal Immunochemical Test (FIT): High-Sensitivity FIT, Low-Sensitivity FIT
3) By Fecal Occult Blood Test (FOBT): Guaiac FOBT, Immunochemical FOBT
4) By Stool Deoxyribonucleic Acid (DNA) Test: Multi-Target Stool DNA Test, Single-Target Stool DNA Test
5) By Colonoscopy: Diagnostic Colonoscopy, Therapeutic Colonoscopy
6) By Other Types: Virtual Colonoscopy, Flexible Sigmoidoscopy, Capsule Endoscopy
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Which Emerging Market Trends Are Altering The Colorectal Cancer Screening Industry?
The focus of leading players in the colorectal cancer screening market is the creation of fresh innovative solutions, like non-invasive multi-target stool ribonucleic acid (RNA) colorectal cancer screening tests. The goal is to provide a viable, efficient method for early colorectal cancer detection, thereby improving patient outcomes and enhancing wider screening participation. These new non-invasive screening tests detect colorectal cancer or precancerous lesions by utilizing RNA markers from a stool sample, offering a non-surgical method for early detection. An example of this is from May 2024, when U.S.-based life sciences firm Geneoscopy Inc. received approval from the U.S. Food and Drug Administration (FDA) for ColoSense, a product that uses RNA biomarkers for non-invasive, stool-based screening. The tool showed 93% sensitivity for colorectal cancer detection and 45% sensitivity for advanced adenomas. ColoSense is important because of its high precision, particularly among younger individuals, as well as its potential to increase screening frequencies by providing a less invasive alternative to conventional techniques.
Who Are the Key Players In The Colorectal Cancer Screening Market?
Major companies operating in the colorectal cancer screening market are:
• 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
What Are The Regional Insights Into The Colorectal Cancer Screening Market?
North America was the largest region in the colorectal cancer screening market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the colorectal cancer screening market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
