Colorectal cancer screening helps in early detection and prevention of colorectal cancer through removal of colon polyps or growths that could potentially develop into cancer. Colorectal cancer screening tests such as fecal immunochemical tests (FIT), fecal occult blood test (FOBT), barium enema, flexible sigmoidoscopy, and colonoscopy are used to detect precancerous polyps, tumors, or cancer. The global Colorectal Cancer Screening Market is estimated to be valued at US$ 3.2 billion in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Adoption of non-invasive screening tests is one of the key trends being witnessed in the colorectal cancer screening market. Non-invasive screening tests such as fecal immunochemical tests (FIT) and fecal occult blood tests (FOBT) help in early detection of colorectal cancer without undergoing invasive colonoscopy or sigmoidoscopy procedures. These tests involve simply collecting stool samples and checking for blood marking early signs of cancer or precancerous polyps formation in colon or rectum. Growing consumer preference for non-invasive techniques due to better patient compliance and cost effectiveness is expected to drive adoption of non-invasive screening tests during the forecast period.
Segment Analysis
The global colorectal cancer screening market is segmented by test type into fecal occult blood test, colonoscopy, flexible sigmoidoscopy, double-contrast barium enema, and others. Among these, the colonoscopy segment held the largest market share in 2020. Colonoscopy allows the examination of the entire colon and enables diagnosis of colorectal cancer at an early stage. It has a high sensitivity and specificity for cancer detection compared to other tests such as FOBT. Colonoscopy emerges as the preferred screening and diagnostic procedure for colorectal cancer, leading to the segment's large share.
Key Takeaways
The global colorectal cancer screening market is expected to witness high growth over the forecast period. Factors such as rising awareness initiatives, growing geriatric population, expanding healthcare infrastructure, and ongoing technological advancements will contribute to market growth.
Regional analysis: North America dominates the global colorectal cancer screening market and is estimated to continue its dominance during the forecast period. Higher awareness regarding cancer screening and early detection among the population and well-established healthcare infrastructure drive significant market revenue in the region.
Key players: Key players operating in the colorectal cancer screening market are Abbott Laboratories, Syntomic, Clinical Genomics Technologies, Epigenomics Inc, Exact Sciences Corp, Novigenix SA, Quidel Corporation, Beckman Coulter, and F. Hoffmann-La Roche.
No comments:
Post a Comment