Global Colorectal Cancer Screening Tests Market 2024

Global Colorectal Cancer Screening Tests Market 2024

Colorectal cancer screening tests are a vital tool in the fight against colorectal cancer. By detecting cancer early or preventing it through the removal of polyps, these tests can save lives and reduce the burden of this disease on individuals and healthcare systems. Regular screening, tailored to individual risk factors, is a key component of effective colorectal cancer prevention and early detection strategies.

The global colorectal cancer screening tests market size is projected to grow by USD 6.9 billion from 2024 to 2030, registering a CAGR of 3.6 percent, according to the latest market data. Colorectal cancer ranks among the top three most diagnosed cancers worldwide. According to the World Health Organization (WHO), the global incidence of colorectal cancer has been steadily increasing, particularly in developed countries. This rise can be attributed to several factors, such as changes in dietary habits, sedentary lifestyles, and increased obesity rates. Moreover, the adoption of Western diets high in red and processed meats, coupled with low fiber intake, has been linked to higher colorectal cancer risk.

While colorectal cancer incidence is high in developed regions, emerging economies are also witnessing a surge in cases. Urbanization and the adoption of Western lifestyles in these regions contribute to the rising incidence. For instance, countries in Asia and Latin America have seen significant increases in colorectal cancer rates, which were previously lower due to traditional dietary practices. Age is one of the most significant risk factors for colorectal cancer. The majority of colorectal cancer cases are diagnosed in individuals aged 50 and older. As the global population continues to age, the number of people at risk for colorectal cancer increases. The United Nations projects that the number of people aged 60 and above will double by 2050, reaching approximately 2.1 billion. This demographic shift is expected to lead to a higher incidence of colorectal cancer, thereby driving the demand for screening tests.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the product type, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global colorectal cancer screening tests market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for colorectal cancer screening tests can be segmented by product type: biomarker tests, colonoscopies and sigmoidoscopies, fecal immunochemical tests (FITs), fecal occult blood tests (FOBTs), stool DNA tests.

Colorectal cancer screening tests market is further segmented by end user: ambulatory centers, clinical labs, hospitals and clinics, others.

Based on region, the colorectal cancer screening tests market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America held the largest revenue share in 2023.

The report explores the recent developments and profiles of key vendors in the Global Colorectal Cancer Screening Tests Market, including Alfresa Pharma Corporation, Danaher Corp., DiaCarta Inc., Eiken Chemical Co Ltd, Epigenomics AG, Exact Sciences Corp, Freenome Holdings, Inc., Fujifilm Holdings Corporation, Guardant Health, Inc., Hoya Corporation, Lepu Medical Technology (Beijing) Co., Ltd., Mainz Biomed N.V., New Horizon Health Limited, Novigenix SA, Olympus Corporation, Prenetics Global Limited, QuidelOrtho Corporation, Sekisui Medical Co., Ltd., W.H.P.M., Inc. (Hemosure Inc), among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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The market estimate for ease of analysis across scenarios in Excel format.

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Market Segments Covered in Global Colorectal Cancer Screening Tests Industry Analysis:

i.) Product type

• Biomarker tests
• Colonoscopies and sigmoidoscopies
• Fecal immunochemical tests (FITs)
• Fecal occult blood tests (FOBTs)
• Stool DNA tests

ii.) End user

• Ambulatory centers
• Clinical labs
• Hospitals and clinics
• Others

iii.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America