Asia Pacific In-vitro Colorectal Cancer Screening Tests Market Report and Forecast 2024-2032

Asia Pacific In-vitro Colorectal Cancer Screening Tests Market Report and Forecast 2024-2032

Asia Pacific In-vitro Colorectal Cancer Screening Tests Market Report and Forecast 2024-2032

Asia Pacific In-vitro Colorectal Cancer Screening Tests Market Outlook

The global in-vitro colorectal cancer screening tests market size was valued at USD 920.4 million in 2023, with Asia Pacific holding a significant market share. The market is driven by the rising prevalence of colorectal cancer. It is expected to grow at a CAGR of 6.20% during the forecast period of 2024-2032, with the values likely to attain USD 1492.8 million by 2032.

Key Takeaways

• Recent studies suggest that Asia accounts for 49% of the total number of new cancer cases worldwide, with the incidence and mortality of colorectal cancer likely to reach 1,310,000 and 484,000, respectively, in China by 2044. This rising incidence fuels the demand for effective in-vitro screening tests.
• One of the major Asia Pacific in-vitro colorectal cancer screening tests market trends is the rising technological advancements in in-vitro diagnostic techniques that are leading to the development of minimally invasive screening methods. In February 2023 , researchers from the University of Technology Sydney (UTS) developed an innovative static droplet microfluidic device that can detect cancer cells from blood samples.
• The rise in reimbursement policies ensures the accessibility and affordability of in-vitro screening methods, thereby boosting market size. In July 2023 , the Guardant360® CDx liquid biopsy test developed by Guardant Health, Inc. received reimbursement approval in Japan for comprehensive genomic profiling (CGP) for advanced or metastatic solid tumor cancers.

Asia Pacific In-vitro Colorectal Cancer Screening Tests Market Analysis

In-vitro colorectal cancer (CRC) screening tests are diagnostic tests that are performed outside the body of the patient to detect markers or indications associated with colorectal cancer. These screening tests usually involve analyzing biological samples such as stool, blood, or tissue taken from the patient. The rising healthcare expenditure coupled with the heightened awareness regarding cancer screening and importance of early detection is contributing significantly to the Asia Pacific in-vitro colorectal cancer screening tests market growth.

The burden of cancer in Asia Pacific is witnessing a steady increase. Recent studies suggest that Asia accounts for 49% of the total number of new cancer cases worldwide, with half of them found in China. Further, it is estimated that the incidence and mortality of colorectal cancer are likely to reach 1,310,000 and 484,000, respectively, in China by 2044. The increased number of colorectal cancer cases can be attributed to the growing aging populations, sedentary lifestyles, and the prevalence of risk factors such as obesity and smoking. This rising incidence fuels the demand for effective diagnostic tests, which is expected to boost the Asia Pacific in-vitro colorectal cancer screening tests market share in the forecast period.

The continuous technological advancements in in-vitro diagnostic techniques are leading to the development of minimally invasive screening methods. In February 2023 , researchers from the University of Technology Sydney (UTS) developed an innovative static droplet microfluidic device that can detect cancer cells from blood samples. This detection technology reduces the need for invasive biopsies for cancer screening by rapidly identifying tumor cells that enter the bloodstream after breaking away from the primary tumor. Such blood-based assays are gaining popularity due to their accuracy and ease of use and are likely to augment the Asia Pacific in-vitro colorectal cancer screening tests market demand.

The presence of a favorable regulatory environment and reimbursement policies in the region also shapes the market landscape. In July 2023 , the Guardant360® CDx liquid biopsy test developed by Guardant Health, Inc. (a leading precision oncology company) received reimbursement approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) for comprehensive genomic profiling (CGP) for advanced or metastatic solid tumor cancers including advanced colorectal cancer patients. The MHLW-approved test analyzes circulating tumor DNA (ctDNA) in a patient’s blood which can offer insights for therapy selection. The rise in reimbursement policies ensures the accessibility and affordability of in-vitro screening methods, thereby boosting the market size for approved diagnostic tests.

Asia Pacific In-vitro Colorectal Cancer Screening Tests Market Segmentation  

Market Breakup by Testing Type

• Fecal Occult Blood Tests
• Biomarker Tests
• CRC DNA Screening Tests
• Flexible Sigmoidoscopy
• Others

Market Breakup by Imaging Type

• Colonoscopy
• Proctoscopy
• CT Scan
• Ultrasound
• MRI
• PET Scan

Market Breakup by End User

• Hospitals
• Clinics
• Diagnostics Laboratories

Market Breakup by Country

• China
• Japan
• India
• ASEAN
• Australia
• Others

Asia Pacific In-vitro Colorectal Cancer Screening Tests Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• F. Hoffmann-La Roche AG
• Abbott
• Siemens Healthineers AG
• Sysmex Corporation
• Beckman Coulter, Inc.
• Bio-Rad Laboratories, Inc
• Qiagen NV
• Thermo Fisher Scientific Inc.
• Myriad Genetics, Inc.
• Exact Sciences Corporation

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

FAQs

• What is the Asia Pacific in-vitro colorectal cancer screening tests market forecast outlook for 2024-2032?

The Asia Pacific in-vitro colorectal cancer screening tests market is expected to be driven by the rising demand in the global market, which is anticipated to grow at a CAGR of 5.53% during the forecast period of 2024-2032 and is likely to reach a market value of USD 1492.8 million by 2032.

• What are the major factors aiding the Asia Pacific in-vitro colorectal cancer screening tests market demand?

The rising incidence rates of colorectal cancer and a growing preference for non-invasive screening methods are fuelling the demand for the market.

• What are the major Asia Pacific in-vitro colorectal cancer screening tests trends?

One of the significant trends in the market is the rising technological advancements in in-vitro diagnostic techniques. In February 2023, researchers from the University of Technology Sydney (UTS) developed an innovative static droplet microfluidic device that can detect cancer cells from blood samples.

• What is the market segmentation based on the testing type?

Based on the testing type, the market is segmented into fecal occult blood tests, biomarker tests, CRC DNA screening tests, and flexible sigmoidoscopy, among others.

• What is the market breakup by imaging type?

By imaging type, the market is divided into colonoscopy, proctoscopy, CT scan, ultrasound, MRI, and PET scan.

• What are the major end users of the market?

End users of the market are hospitals, clinics, and diagnostics laboratories.

• What is the market segmentation by countries?

The market segmentation by countries includes China, Japan, India, ASEAN, and Australia, among others.

• Who are the key players involved in the Asia Pacific in-vitro colorectal cancer screening tests market?

The key players in the market are F. Hoffmann-La Roche AG, Abbott, Siemens Healthineers AG, Sysmex Corporation, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Qiagen NV, Thermo Fisher Scientific Inc., Myriad Genetics, Inc., and Exact Sciences Corporation.

Meta description

Asia Pacific in-vitro colorectal cancer screening tests market is poised for growth, driven by the expansion of the global market, which was valued at USD 920.4 million in 2023, and is projected to grow at a CAGR of 5.53% during the forecast period of 2024-2032.

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