Colorectal Cancer Screening Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factor of Colorectal Cancer Screening Market
During the forecast period of 2024-2032 there has been Compound Annual growth Rate of 4.1%.The valuation of Colorectal Cancer Screening Market Size was USD 17.05 billion in 2023 and is expected to increase from USD 17.83 Billion in 2024 to USD 24.65 Billion by 2032.
The government took the initiative to increase the awareness which prompt the Colorectal Cancer Screening Market Growth .The Cancerous cells begins to grow and spread in the colon of the digestive tract in the Colorectal Cancer(CRC).The most prone age group for CRC are people with age of 45 and older. The cancer detected at the early stages, effective treatment can be given. Colorectal Cancer Screening helps in detecting the cancer in asymptomatic and also the patients with high risk who are aged 45 and older.
As the colorectal cancer is increasing significantly in developed countries as well as middle and Low Countries due to unhealthy lifestyle choices and rise in the aging population, colorectal cancer screening market share is also increasing globally. According to the article published by ScienceDirect in 2021, approx 1.93 million new CRC cases were reported in 2020 and 0.94 million people died due to colorectal cancer during the same year.
Comprehensive Analysis of Colorectal Cancer Screening Market
The colorectal cancer market segment gives the detailed regional assessments. The market segmentation is further segregated into by types which include stool-based, colonoscopy and others in which stool-based segment is further sub-segmented into fecal occult blood tests (gFOBT), fecal immunochemical tests (FIT/iFOBT), and stool-DNA tests.This segment made the highest revenue in 2023.
Market occupied by hospitals & clinics, clinical laboratories, diagnostic imaging, and others are end users of colorectal cancer screening. In 2023 significant share of screening market was occupied by hospitals & clinics as CRC screenings procedure are conducted in hospitals. The increasing number of colonoscopies and the increasing number of diagnostics centers using colonoscopy procedures are some of the key factors in contributing the market growth globally.
Due to the awareness and strong economical stable population, North America has generated USD 11.05 billion market in 2023.Adoption of advance technology and high-cost tests, such as cologuard, colonoscopies and other stool-based tests contributed in market growth during forecast period. Rising awareness about the disease and increasing demand of screening procedures such as stool-based testing with the presence of government programs in European countries are some major factors in market growth in Europe. The Asia Pacific market is expected to grow in the projected year. As per research article published by the National Center for Biotechnology Information (NCBI) in 2023, in Japan the incidence rate of colorectal cancer per 100,000 individuals was approx 26.7 men and 22.7 women of age group 40-44.
Additionally, Middle East & Africa and Latin America market are also expected to grow significantly at compound annual growth rate during forecast period. The increasing initiatives steps taken by government to increase awareness about the disease along with easy availability of screening tests are some factors in market growth of colorectal cancer screening across these regions.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 4.1% from 2024-2032
Unit Value (USD billion)
Segmentation By Type
Stool-based
Fecal Immunochemical Test (FIT)
Fecal Occult Blood Test (FOBT)
Stool-DNA Test
Colonoscopy
Others
By End-user
Hospitals & Clinics
Clinical Laboratories
Diagnostic Imaging Centers
Others
By Geography
North America (By Type, End-user, and Country)
U.S.
Canada
Europe (By Type, End-user, and Country/Sub-region)
U.K.
Germany
France
Italy
Spain
Scandinavia
Rest of Europe
Asia Pacific (By Type, End-user, and Country/Sub-region)
Japan
China
India
Australia
Southeast Asia
Rest of Asia Pacific
Latin America (By Type, End-user, and Country/Sub-region)
Brazil
Mexico
Rest of Latin America
Middle East & Africa (By Type, End-user, and Country/Sub-region)
GCC
South Africa
Rest of Middle East & Africa
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