Colorectal Cancer Screening Market Size to Surpass USD 23.03 billion by 2030, exhibiting a CAGR of 4.4%

Pune, India, July 19, 2023 (GLOBE NEWSWIRE) — The global colorectal cancer screening market size was valued at USD 16.29 billion in 2022. The market is projected to grow from USD 17.05 billion in 2023 to USD 23.03 billion by 2030, exhibiting a CAGR of 4.4% during the forecast period.

Colorectal Cancer (CRC) occurs in the colon or rectum part of the digestive tract when the cancerous cells begin to grow. It is called bowel cancer. CRC screening is the detection of the disease for people who are asymptomatic but at high risk of getting the disease and are of age 45 and above. The increasing incidence of CRC has increased the need for screening for early diagnosis and treatment.

Fortune Business Insights™ stated this in a report titled, “Colorectal Cancer Screening Market, 2022-2029.”

Request a Free Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/colorectal-cancer-screening-market-101144

Key Industry Development:

•May 2022: Prenetics joined hands with New Horizon Health Corporation to launch ColoClear by Circle in China to improve operations’ health and safety.

Key Takeaways:

• Guardant Health made an announcement in May 2022 about the introduction of Shield, a blood-based test designed for the early detection of colorectal cancer.
• The GI Genius intelligent endoscopy was launched by Medtronic plc in 2019.
• The market is categorized into stool-based, colonoscopy, and other types, based on its classification.
• In 2022, the North American market recorded a revenue of USD 10.53 billion.

Discover the Leading Players Featured in the Report:

NOVIGENIX SA (Switzerland), EIKEN CHEMICAL CO., LTD. (Japan), Clinical Genomics Technologies Pty Ltd. (U.S.) ,Exact Sciences Corporation (U.S.), Epigenomics AG (Germany),bioMérieux, Inc. (France), Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), FUJIFILM Holdings America Corporation (Japan)

Report Scope & Segmentation

Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/colorectal-cancer-screening-market-101144

Driving factor:
Growing Screening Rates for Colorectal Cancer Patients Promote Market Growth

The rise in awareness among people about colorectal cancer screening and increasing cancer prevention initiatives are some significant factors that have surged the demand for the product to a great extent. Another reason that escalates the need for these products is the growing screening rates of people at high risk of getting affected by colorectal cancer at minimal costs. Meanwhile, several side effects linked with the colonoscopy procedure, such as bleeding and infection, could impede the colorectal cancer screening market growth.

Despite a serious and increased need for advanced and efficient screening procedures, certain limitations associated with screening devices can limit their adoption. Moreover, there are several complications, such as severe pain or belly cramps, a hard belly, fever, trouble passing gas or popping, vomiting, dizziness, and rectal bleeding, which are projected to reduce the number of colonoscopy procedures during the projected period.

Segmentation:

Growing Demand for Smart Diagnostic Instruments Drives the Colonoscopy Segment

On the basis of type, the market is fragmented into colonoscopy, stool-based, and others. The colonoscopy segment generated the highest revenue in 2022 and is expected to grow at a moderate CAGR due to the high accuracy of the procedure in screening colorectal cancer patients.

Presence of a Substantial Number of Hospitals to Propel the Hospitals & Clinics Segment

Based on end-user, the market is divided into clinical laboratories, diagnostic imaging centers, hospitals & clinics, and others. The hospitals & clinics segment will rule due to a substantial number of hospitals.

By region, the market is studied across North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

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 Centres
• Others

By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Quick Buy – https://www.fortunebusinessinsights.com/compare-plan/101144

Regional insights:

Economically Stable Population across North America Nurtures the Regional Growth

North America held the highly colorectal cancer screening market share and is expected to maintain its leadership due to the growing healthcare spending on stool-based tests to address the diseases. Furthermore, the economically stable population across the region is another factor that propels the market’s growth.

The Asia Pacific market is estimated to showcase considerable growth due to the growing enhancement and improvement of healthcare amenities to enhance the patient experience.

Competitive Landscape

Market Players Focus on its R&D Activities to Bolster their Portfolio

Colorectal cancer screening players such as Laboratory Corporation of America Holdings, Clinical Genomics Technologies Pty Ltd, and FUJIFILM Holdings Corporation are investing heavily in R&D activities to expand their market presence. With soaring investments in better design, the market is merged with a few market players for better healthcare treatments. Exact Sciences Corporation, Quest Diagnostics, and Olympus Corporation are the key giants in the market and will capture a significant market share in 2022.

FAQs

How big is the Colorectal Cancer Screening Market?

The Colorectal Cancer Screening Market size was USD 17.05 billion in 2023.

How fast is the Colorectal Cancer Screening Market growing?

The Colorectal Cancer Screening Market will exhibit a CAGR of 4.4% during the forecast period, 2023-2030

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/colorectal-cancer-screening-market-101144

Related Reports:

Colorectal Cancer Therapeutics Market Size, Share, Growth Industry Report

Lung Cancer Screening Market Share, Size, Demand, and Forecast

Cancer Biomarkers Market Size, Share, Growth Industry Report

Anti-obesity Drugs Market Share, Size, Demand, and Forecast

Cosmetic Dentistry Market Share, Size, Demand, and Forecast

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

Pune – 411045, Maharashtra, India.

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: [email protected]