Global Colorectal Cancer (CRC) Screening Market (2023 Edition): Analysis by Screening Type, End-Use, By Region, By Country: Market Insights and Forecast (2019-2029)

Global Colorectal Cancer (CRC) Screening Market (2023 Edition): Analysis by Screening Type, End-Use, By Region, By Country: Market Insights and Forecast (2019-2029)

Executive Summary

Azoth Analytics has released a research named “Global Colorectal Cancer (CRC) Screening Market (2023 Edition)” which provides a complete analysis of the global Colorectal Cancer (CRC) Screening industry in terms of segmentation by Screening Type (Stool-based Tests, Flexible Sigmoidoscopy, Colonoscopy, CT Colonography - Virtual Colonoscopy, Other Screening Type), By End-use (Hospitals & Clinics, Clinical Laboratories, Diagnostic Imaging Centers) for the historical period of 2019-2022, estimated year of 2023 and the forecast period of 2024-2029.

The research is global in nature and covers a detailed analysis of the market in America (U.S., Canada, Brazil, Rest of Americas), Europe (Germany, U.K., France, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), and Middle-east and Africa. Additionally, the research report displays data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities and demand forecast.

During the forecast period, 2024-2029, the global Colorectal Cancer (CRC) Screening market is expected to expand at a CAGR of 7%. Ageing populations, rising CRC incidence with age, 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 (CRC) Screening Market is expected to generate USD 27.7 billion by the end of 2029, up from USD 17.2 billion in 2022. Some of the key factors driving demand for Colorectal Cancer (CRC) Screening globally include rising disposable incomes, urbanization, an unhealth lifestyle, westernization, a preference for leading healthy lifestyles, increased consumer awareness of the severity of digestive disorders, stomach pain, willingness to pay a high price for cancer screening and treatment, and market accessibility of various screening & tests.

Additionally, Colorectal Cancer (CRC) Screening sales are being positively boosted by enhanced new product development and strong promotional actions by key manufacturers & diagnostic labs. The rising prevalence of colorectal cancer is one of the major factors driving the market growth. Some other factors include for the growth of the colorectal cancer screening the advent of efficacious genetic tests, an increase in the prevalence of colorectal cancer, and increasing cancer prevention initiatives.

One of the main drivers fueling the Colorectal Cancer Screening Market; the increasing incidence of colorectal cancer. An estimated 1,019,000 new instances of cancer, including 158,200 new cases of colorectal cancer, were expected in Japan in 2022, according to data offered by the National Cancer Centre Japan in June 2022. Similar to this, it was estimated that 15,713 new cases of colorectal cancer would be identified in Australia in 2022, out of which 8,300 were male and 7,413 were female, according to data updated by Cancer Australia in August 2022.

Colonoscopy is one of the most common procedures performed, with about 14.2 million procedures carried out alone in the United States. Data on national trends imply an increase in CRC screening rates, which is nearly completely related to more people having colonoscopies. Therefore, it is expected that the use of colonoscopy (CRC Screening) equipment will increase as colorectal cancer rates rise.

Companies in the Colorectal Cancer (CRC) Screening market are placing stakes on R&D investments and new product releases as patient become more aware about cancer and innovative trends emerge quickly. Companies are paying close attention to value-added offerings as long as healthcare specialists continue to recommend increasing the screening tests as a way to go for the better treatment and improve long-term health. The potential of Colorectal Cancer (CRC) Screenings in products is being systematically investigated by large brand firms as well as small high-tech startups, which may signal new beginnings for market players.

The study profiles leading players in the Global Colorectal Cancer (CRC) Screening Market including Olympus Corporation, EXACT Sciences Corporation, Quest Diagnostics, QuidelOrtho Corporation, Fujifilm Holdings Corporation, Eiken Chemical Co. Ltd, BioMerieux SA, Epigenomics AG, Siemens Healthineers, Danaher Corporation, and others. The company profiling includes critical information such as a business overview, products and services, key financials, and recent events and developments. Overall, the report provides a detailed overview of the Global Colorectal Cancer (CRC) Screening Market, which will assist industry consultants, medical equipment manufacturers, existing players looking for expansion opportunities, new players looking for opportunities, and other stakeholders in aligning their market-centric strategies with current and expected future trends.

Scope of the Report:

• The report analyses the Colorectal Cancer Screening Market by Value (USD Million)
• The report analyses the Colorectal Cancer Screening Market by Number of Screenings (in Million).
• The report presents the analysis of Colorectal Cancer Screening market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report analyses the Colorectal Cancer Screening Market by Screening Type (Stool-based Tests, Flexible Sigmoidoscopy, Colonoscopy, CT Colonography (Virtual Colonoscopy), Other Screening Type).
• The report analyses the Colorectal Cancer Screening Market by End-use (Hospitals & Clinics, Clinical Laboratories, Diagnostic Imaging Centers).
• The Global Colorectal Cancer Screening Market has been analysed by countries (United States, Canada, Brazil, Germany, United Kingdom, France, China, Japan, India, South Korea).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Colorectal Cancer Screening Type and by End-use.
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.

The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include 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.