Report

The colorectal cancer screening market was valued at USD 12,866 million in 2021, and it is expected to register a CAGR of 7.45% during the forecast period.

The COVID-19 pandemic had a significant impact on the market. Many countries were in lockdown and suspended trade with other countries, leading to a decline in healthcare services, including the diagnosis of various diseases. Due to restrictions, the diagnosis of bowel cancer decreased, which is likely to impact the market's growth during the forecast period. For instance, according to the article titled 'Effect of the COVID-19 pandemic on colorectal cancer care in France', published in the Lancet magazine in May 2021, researchers found a 31% decrease in new referrals for colorectal cancer in 2020 (March to May) relative to the average of the previous two years. Cancer care and maintaining high standards of diagnosis and treatment have been the major priorities of the national healthcare bodies and international healthcare systems worldwide. However, the pandemic has shifted this focus away from cancer services. Colorectal cancer patients are particularly vulnerable to the disruption of their care as diagnosis through endoscopy was halted due to concerns about virus transmission

The significant factors for the growth of the colorectal cancer screening market include the advent of efficacious genetic tests, an increase in the prevalence of colorectal cancer, and increasing cancer prevention initiatives.

Most colorectal cancer cases exhibit familial clustering, which means that tens of thousands of individuals have a disease with a potentially definable genetic component and gets passed down over generations. The risk of colorectal cancer is higher in people with a strong family history of colorectal cancer, i.e., inherited colon cancer syndromes. Various genetic tests have been developed for colon cancer, including hereditary non-polyposis colon cancer (HNPCC) test and familial adenomatous polyposis (FAP) test. Genetic testing for colon cancer creates better opportunities for early diagnosis. For instance, the most common genetic changes related to colon cancer are familial adenomatous polyposis (FAP) and hereditary non-polyposis colorectal cancer (HNPCC). These genetic changes could be identified at a very early age (less than 40 years) through genetic testing. If these medical screenings are employed, the number of colon cancer cases found in the early stages may increase. Also, gene therapies to alter these mutations are likely to be developed. The increasing awareness about genetic screening methods and advantages for undergoing these tests (for early detection and treatment and the removal of precancerous cells, which are much cheaper than the usual run of chemotherapy) are driving the colorectal cancer screening market.

Colorectal Cancer Screening Market Trends

Colonoscopy is Expected to Dominate the Market

Colonoscopy or coloscopy is the endoscopic examination of the large bowel and the distal part of the small bowel with a charged coupled device (CCD) camera or a fiber optic camera on a flexible tube passed through the anus. Colonoscopy allows accurate diagnosis and treatment without the need for a major operation. In addition, a colonoscope can also remove the polyps. However, in preparation for the test, the patient has to take a dose of laxatives to cleanse the colon.? Factors such as the growing burden of colorectal cancer and recommendations by public organizations for timely screening, technological advancements, and the launch of products in the market are likely to propel the market's growth over the forecast period. The recommendations by public organizations for the timely screening of colorectal cancer through colonoscopy are boosting the segment's growth. For instance, the American Cancer Society's article titled 'American Cancer Society Guideline for Colorectal Cancer Screening', updated in November 2020, recommends that people at the average risk of colorectal cancer start regular screening at 45 years. It is recommended that colonoscopy be done every 10 years to examine the colon and rectum, which will avoid future complications, such as cancer.?

Colonoscopy has been the preferred modality for colorectal cancer screening and prevention for many years. According to the US Preventive Services Task Force, in May 2021, the recommended age at which adults can be screened for colorectal cancer is 45-75. The decision to be screened after age 75 should be made on an individual basis. Thus, due to the age criteria, many people can be screened for the disease.

Moreover, colorectal cancer incidence is expected to increase in the future. As per the 2020 report by the International Agency for Research on Cancer, the number of colon cancer cases is expected to increase from 1.15 million to over 1.92 million by 2040. Colonoscopy is the preferred diagnostic screening test for cancer. Thus, its demand may grow with the increasing incidence of cancer, which may also boost the market's growth.

North America is Expected to Dominate the Market

North America is expected to account for a significant share in the market. The United States and Canada have a developed and well-structured healthcare system. These systems also encourage R&D and global players to enter the US and Canadian markets. The United States is the largest market in the region. According to the International Agency for Research on Cancer, colon cancer is reported to be one of America's deadliest cancers, with 54,443 deaths in 2020, followed by lung cancer. It was estimated that approximately 155,008 cases of colorectal cancer were found in 2020.

This high incidence rate may eventually increase the demand for colorectal cancer screening procedures. Several companies are developing advanced screening procedures, including genetic tests, which are gaining acceptability in the US market. Initiatives, like National TV campaigns, digital marketing, primary care sales force, collated materials, and clinical and health publications, are helping increase the adoption of colorectal cancer screening procedures in the United States. Also, government initiatives to increase awareness are playing an integral role and driving the US colorectal cancer screening market. For instance, in 2021, the US government declared the month of March as the National Colorectal Cancer Awareness Month. The increasing number of colorectal cancer incidences in the United States, along with several educational and financial initiatives, is expected to boost the US colorectal cancer screening market in the future.

Colorectal Cancer Screening Market Competitor Analysis

The colorectal cancer screening market is moderately consolidated due to the presence of many small and large players. Some of them include Abbott Laboratories, Clinical Genomics Technologies Pty Ltd, Epigenomics Inc., Exact Sciences Corporation, F. Hoffmann-La Roche AG, Hemosure Inc., Novigenix SA, Quidel Corporation, Siemens Healthineers AG, and Sysmex Corporation.

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