Colorectal Cancer Screening Market Size, Growth, Trends, Share and Analysis

Colorectal Cancer Screening Market

Overview of the market:

The significant factors for the development of the screening industry for colorectal cancer include the advent of effective genetic testing, an increase in colorectal cancer incidence, and an increase in projects for cancer prevention.

Most of the instances of Colorectal Cancer CRC show family clustering, meaning that tens of thousands of people have a disease with a possibly definable genetic element. The risk of CRC is greater in individuals with a powerful colorectal cancer family history, i.e. hereditary syndromes of colon cancer. The genetic tests created for colon cancer include the test of hereditary colon nonpolypsis HNPCC, the test of family adenomatous polyposis FAP , etc. Colon cancer genetic testing generates better possibilities for early diagnosis. For example, family adenomatous polyposis FAP and inherited non-polyposis colorectal cancer HNPCC are the most prevalent genetic modifications associated with colon cancer. These genetic changes could be recognized by genetic testing at a very early era, less than 40 years. The amount of instances of colon cancer discovered in the early phases may improve if these medical screenings are used. In addition, gene therapies are likely to be created to change these mutations. According to a 2017 research article, “Colorectal cancer screening: an updated review of accessible alternatives,” colon cancer incidence and mortality have been projected to decline over the previous decade due to the implementation of efficient screening techniques such as Fecal DNA testing and Blood DNA testing. Colorectal cancer screening industry is driven by raising awareness of genetic screening techniques and benefits to undergo these tests not only for early identification and therapy, but also for removing precancerous cells that are much cheaper than the usual run of chemotherapy.

Report Portfolio:

Colorectal cancer CRC is known as bowel cancer and colon cancer according to the scope of this study. It is the colon or rectum cancer growth. Screening tests for colorectal cancer CRC use kits and multiple medical devices for cancer diagnosis. Screening exams, end users and geography segment the market.

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Key Market Trends: –

Guaiac Fecal Occult Blood Test gFOBT is the fastest growing segment in the world:

One of the several techniques used to identify colorectal cancer is the guaiac fecal occult blood test gFOBT . The test includes detecting concealed blood in the feces and identifying the existence in the colon or rectum of cancer cells or tumors. The experiment includes putting on specially guaiac covered cards a tiny sample of stool and then sending it to a testing laboratory. The guaiac allows the stool sample to change color after placing a testing solution on the cards. If blood is in the stool, the color changes very rapidly. Blood presence in the stool can be a sign of colorectal cancer or other issues, such as polyps, ulcers, or hemorrhoids. The procedural volumes for colorectal CRC screening with gFOBT have declined modestly, according to the American College of Gastroenterology ACG . The variables driving the industry, however, are its easy accessibility, low price, and insurance coverage, as well as being sold as over – the-counter. The technique has also become reliable with product. Market growth is primarily ascribed to the product’s easy accessibility and low price.

It is expected North America will dominate the market:

Colon cancer is reported to be America s second-deadliest cancer with 50,000 fatalities annually, followed by pulmonary cancer, according to the U.S. National Cancer Statistics. It was estimated that around 1,44,000 instances of colorectal cancer were discovered in 2015, and it is anticipated that nearly 1,60,000 fresh instances of colorectal cancer will happen by 2020. This rise in the incidence of the disease can eventually boost the requirement for screening processes for colorectal cancer. Advanced screening processes are being developed by several businesses, including genetic tests, which are gaining acceptance on the US market. According to the National Health Interview Survey, CRC screening as per guidelines for 50-year-olds and older adults rose from 34% in 2000 to 63% in 2015. Initiatives such as domestic television campaigns, digital marketing, main care sales force, collated materials, clinical and health journals, etc., are helping to boost the United States acceptance of colorectal cancer screening methods. Government projects are also growing awareness that plays an essential part and drives the country s colorectal cancer screening industry. The colon cancer screening rate was 59 percent in 2010 and rose to 62 percent in 2015, according to the American Cancer Society. This rate is rising at a constant pace, and by 2018 the objective for colon cancer screening is to achieve 80%. Increasing numbers of incidences of colorectal cancer in the U.S., along with several instructional and economic projects, are anticipated to boost the U.S. colorectal screening industry in the future.

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Competent landscape:

Because of the presence of many small and large market players, the market being studied is a moderately consolidated market. Abbott Laboratories, Clinical Genomics Technologies Pty Ltd, Epigenomics Inc., Exact Sciences Corporation, F. Hoffmann-La Roche AG, Weure Inc., Novigenix SA, Quidel Corporation, Siemens Healthcare Private Limited, and Sysmex Corporation are some of the market players.

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