COLORECTAL CANCER SCREENING MARKET ANALYSIS

Market Size and Trends

Global colorectal cancer screening market is estimated to be valued at USD 15.44 Bn in 2024 and is expected to reach USD 24.95 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031.

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Global colorectal cancer screening market is expected to witness considerable growth due to increasing prevalence of colorectal cancer worldwide. Rising awareness about periodic screening and improvements in screening technology are also expected to drive the market growth. Moreover, favourable government initiatives and reimbursement policies boosts the adoption of colorectal cancer screening, and thus, driving the market growth. Thus, increasing focus on early detection of colorectal cancer can boost demand for screening tests.

Increasing Prevalence of Colorectal Cancer

Increasing prevalence of colorectal cancer across the globe is expected to drive the global colorectal cancer screening market growth over the forecast period. For instance, in the U.S., colorectal cancer is the third leading cause of cancer-related deaths in men and in women.

 According to the American Cancer Society, in 2022, there will be around 106,180 new cancer cases diagnosed and 52,580 cancer deaths in the U.S. Thus, increasing prevalence of colorectal cancer boosts demand for colorectal cancer screening in this region.

Market Concentration and Competitive Landscape

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Increasing demand for colorectal cancer screening tests is expected to drive the global colorectal cancer screening market growth over the forecast period. For instance, in May 2022, Guardant Health, Inc., a healthcare company, announced the availability of Shield, the company’s first blood-based test for the detection of early-stage colorectal cancer. The test is intended for adults aged 45 years and older and those who are not up to date with recommended screening guidelines, show no symptoms, and are at average risk for colorectal cancer.

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High cost of screening tests is expected to hamper the global colorectal cancer screening market growth. Many countries, including the U.S. and the U.K., face challenge of providing care to a growing population of cancer patients due to expensive screening and treatment. According to the report published by the U.S. Centers for Disease Control and Prevention (CDC), in April 2019, screening tests, on average, cost US$ 2,060 per person, ranging from US$ 1,057 for both tests to US$ 3,153 for colonoscopy. The average cost of colonoscopy in India is INR Rs. 3,350. The maximum charge for colonoscopy in India is up to INR Rs. 50,000.

Market Opportunity – Increasing Cancer Prevention Initiatives

Increasing cancer prevention initiatives is expected to offer lucrative growth opportunities for the key player in the colorectal cancer screening market. For instance, in 2021, the U.S. government declared March as the National Colorectal Cancer Awareness Month to increase awareness about colorectal cancer management. It is a chance to bring greater attention to this terrible disease and to offer access to lifesaving screening, care, and treatment.

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Screening tests segment is sub-segmented into stool-based tests, colonoscopy, CT colonography, flexible sigmoidoscopy, and others. Colonoscopy segment is estimated to hold 41.5% of the market share in 2024. Colorectal cancer is the second biggest cause of cancer-related deaths worldwide. According to studies, colorectal cancer screening lowers the risk of mortality from the disease. Faecal testing and colonoscopy, which involves inserting a tiny camera into the digestive tract, are the most often utilized screening tests. For instance, according to the data published by New England Journal of Medicine in October 2022, a group of researchers enrolled 84,585 men and women aged 55 to 64 years old who had not undergone prior colorectal cancer screening. The researchers noted that 15 participants experienced major bleeding after polyp removal. However, no perforations or screening-related deaths occurred within 30 days of colonoscopy. After 10 years of screening, the researchers recorded 259 diagnoses of colorectal cancer in the invited group compared to 622 cases in the usual-care group. This translated to a 0.98% risk of colorectal cancer within 10 years in the invited group and a 1.2% risk in the usual care group. Overall, the researchers noted that a colonoscopy invitation reduced the risk of developing colorectal cancer within 10 years by 18%. However, both groups had an almost identical risk of death from colorectal cancer at 10 years.

Insights, By End User: Advanced diagnostic capabilities and skilled physicians

End User segment is sub-segmented into hospitals, specialty clinics, and others. The hospitals segment is estimated to hold 58.3% of the market share in 2024 due to their state-of-the-art diagnostic infrastructure and availability of specialized medical professionals. Advanced hospital facilities are often equipped with latest generation colonoscopes, pathology laboratories for biopsy analysis, and skilled gastroenterologists and colorectal surgeons for conducting comprehensive examinations and outpatient procedures. The multidisciplinary teams of oncologists, gastroenterologists, pathologists and surgeons available in hospitals allows for a centralized approach to colorectal cancer screening. These can efficiently handle the entire screening process from intake to follow-ups, which offers convenience to patients. Hospitals also have the necessary setup and manpower to administer colonoscopy, which is the preferred screening test globally. This upholds hospitals as the one-stop solution for timely colorectal screening and diagnostic needs of local communities. The in-hospital screening programs help to improve access to standard screening guidelines and raise awareness about the importance of early detection. Many hospitals also collaborate with community health organizations to promote screening. These factors have helped hospitals to establish as the key providers for colorectal screening services worldwide.

Regional Insights

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North America remains the dominant region in the global colorectal cancer screening market and is estimated to hold 37.4% of the market share in 2024. The presence of leading medical device manufacturers and biotechnology companies in the U.S. has enabled advanced technological development. Favorable reimbursement policies for cancer screening and increasing awareness through initiatives by government and non-profit organizations have boosted adoption rates in the region. Stringent screening guidelines by bodies such as the United States Preventive Services Task Force have made regular screening routine for the population over 50 years of age.

Asia Pacific is poised to emerge as the fastest growing market for colorectal cancer screening. Rising healthcare expenditures and improving access to healthcare in countries such as China, India and Japan are driving the market growth. The economic growth in the region has enhanced the affordability of quality cancer care. Furthermore, rising incidence of colorectal cancer due to lifestyle changes and adoption of western diet prompts governments to take preventive measures. For instance, India has launched several public awareness campaigns to promote screening of colorectal cancer.

Market Report Scope

Key Developments

• On May 6, 2024, Geneoscopy, Inc., a life sciences company, announced that the U.S. Food and Drug Administration had approved its noninvasive colorectal cancer screening test- ColoSense. ColoSense is indicated as a screening test for adults, 45 years of age or older, who are at typical average risk for developing CRC.
• On April 10, 2024, UC Davis Health, a health center in the U.S., launched a digital health program for colorectal cancer screening that uses the Cologuard test. Cologuard is a non-invasive, stool DNA-based test that detects not only blood in stool but 11 distinct biomarkers are used to identify colorectal cancer and precancerous polyps.
• In November 2023, Guardant Health, Inc., a healthcare company, launched its blood-based colorectal cancer screening test- Shield, in collaboration with Samsung Medical Center in South Korea
• In February 2021, The European Union set out a USD 4,313.44 Mn (€4 Bn) Beating Cancer plan, including the most concerted push ever for research and its translation through to better treatments. The plan will fund technology development, improve access to therapies, create new research networks, promote disease prevention, and offer better support for people who survive cancer.

*Definition: Colorectal cancer, or colon cancer, is a type of cancer that begins in the large intestine (colon). The colon is the final part of the digestive tract. The cancer often begins as a growth called a polyp inside the colon or rectum. Finding and removing polyps can prevent colorectal cancer. Colon cancer and rectal cancer are often grouped together because these have many features in common. Cancer starts when cells in the body start to grow out of control. Colonoscopy is a procedure to look inside the rectum and colon for polyps, or cancer. In this test, the rectum and entire colon are examined using a colonoscope, a flexible lighted tube with a lens for viewing and a tool for removing tissue. Colorectal cancer screening find problems that can be treated before cancer develops or spreads.

Market Segmentation

• Screening Tests Insights (Revenue, USD Bn, 2019 - 2031)
  • Stool-based Tests
  • Colonoscopy
  • CT Colonography 
  • Flexible Sigmoidoscopy
  • Others
•  End User Insights (Revenue, USD Bn, 2019 - 2031)
  • Hospitals
  • Specialty Clinics
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Polymedco Inc.
  • Eiken Chemical Co. Ltd.
  • Sysmex Corporation
  • Siemens Healthineers AG
  • Quidel Corporation
  • Novigenix SA
  • Hemosure Inc.
  • Exact Sciences Corp.
  • Epigenomics Inc.
  • Olympus Corporation
  • Clinical Genomics Technologies Pty Ltd.
  • Exact Sciences Corporation
  • Clinical Genomics
  • Guardant Health, Inc.
  • Hemosure Inc.
  • Geneoscopy, Inc.