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Colorectal Cancer Screening Market Size (2024 - 2029)

The colorectal cancer screening market is projected to experience stable growth over the forecast period, driven by factors such as the increasing prevalence of colorectal cancer and the implementation of cancer prevention initiatives. The market's expansion is supported by advancements in genetic testing and the development of innovative screening technologies. Despite the initial impact of the COVID-19 pandemic, which led to a reduction in screenings, the market has rebounded as procedures have normalized. However, challenges such as high costs of screening tests and limited healthcare access in developing regions may hinder market growth.

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Market Size of Colorectal Cancer Screening Industry

Colorectal Cancer Screening Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 15.48 Billion
Market Size (2029) USD 19.91 Billion
CAGR (2024 - 2029) 5.16 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Colorectal Cancer Screening Market Major Players

*Disclaimer: Major Players sorted in no particular order

Colorectal Cancer Screening Market Analysis

The Colorectal Cancer Screening Market size is estimated at USD 15.48 billion in 2024, and is expected to reach USD 19.91 billion by 2029, growing at a CAGR of 5.16% during the forecast period (2024-2029).

The COVID-19 pandemic significantly impacted the studied market, as there was less number of colorectal cancer screenings taking place during the pandemic. For instance, according to an article published by MDPI in May 2022, a study was conducted in Canada which showed that there was a reduction in the number of colorectal cancer diagnoses during the pandemic when compared to the pre-pandemic period. Thus, the COVID-19 pandemic significantly impacted the market initially, however as the pandemic has currently subsided, colorectal cancer screening procedures are taking place normally, hence the studied market is expected to have stable growth during the forecast period of the study.

The major 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.

The rising prevalence of colorectal cancer is one of the major factors driving the market growth. For instance, as per the report published by the Chinese Medical Journal in March 2022, China is experiencing a greater incidence of cancers. In 2022, there were approximately 4,820,000 new cancer cases in China, in which 592,232 were colorectal cancer cases. Thus, the greater incidence of colorectal cancers has increased the demand for screening tests for the treatment of cancers.

Furthermore, according to an article published by MDPI in April 2022, colorectal cancer is considered to be one of the most common cancers in Canada with approximately 24,800 cases projected to have been diagnosed in 2021. Although the incidence of CRC among adults under the age of 50 represents approximately 8% of CRC cases in Canada, recent studies have shown that the incidence of colorectal cancer in younger people is rising rapidly in Canada. Thus, the rising prevalence of colorectal cancer is expected to boost market growth.

Moreover, colorectal cancer prevention initiatives are also expected to boost market growth. For instance, The Ohio Colorectal Cancer Prevention Initiative (OCCPI), is a statewide initiative in Ohio, United States to screen newly diagnosed colorectal cancer (CRC) patients and their biological relatives for Lynch syndrome, a cancer-causing condition that occurs when a person inherits a mutation in one of four genes.

Additionally, the developments by various organizations and market players are also expected to boost the market growth. For instance, in April 2021, the US Food and Drug Administration announced the approval of GI Genius, a device using artificial intelligence based on machine learning to help clinicians detect lesions like polyps or suspected tumors in the colon during a colonoscopy.

Thus, the aforementioned factors such as the rising prevalence of colorectal cancer and cancer prevention initiatives are expected to boost the market growth. However, high screening tests costs and inadequate healthcare access in developing countries are expected to impede the market growth.

Colorectal Cancer Screening Industry Segmentation

As per the scope of the report, colorectal cancer (CRC) is also known as bowel cancer and colon cancer. It is the development of cancer from the colon or rectum. Colorectal cancer (CRC) screening tests use kits and various medical devices for diagnosing cancer. The colorectal cancer screening market is segmented by screening test (stool-based tests, colonoscopy, CT colonography (virtual colonoscopy), flexible sigmoidoscopy, and other screening tests), end user (hospitals, independent diagnostic labs, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Screening Test
Stool-based Tests
Colonoscopy
CT Colonography (Virtual Colonoscopy)
Flexible Sigmoidoscopy
Other Screening Tests
By End User
Hospitals
Independent Diagnostic Labs
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Colorectal Cancer Screening Market Size Summary

The colorectal cancer screening market is poised for significant growth over the forecast period, driven by several key factors. The market is recovering from the initial impacts of the COVID-19 pandemic, which had led to a temporary decline in screening procedures. As normalcy returns, the market is expected to experience stable growth. The increasing prevalence of colorectal cancer globally, coupled with the advent of effective genetic tests and cancer prevention initiatives, is propelling market expansion. Notably, regions like North America are witnessing a rise in colorectal cancer cases, which is further fueling the demand for screening tests. The introduction of advanced technologies, such as AI-powered devices for detecting polyps during colonoscopies, is also contributing to market growth.

The market landscape is moderately consolidated, with both small and large players actively participating. Companies like Abbott Laboratories, Epigenomics Inc., and Exact Sciences Corporation are key contributors to the market's development. The rising incidence of colorectal cancer, particularly in countries like China, Canada, and the United States, is a major driver of market demand. Additionally, initiatives such as The Ohio Colorectal Cancer Prevention Initiative are enhancing awareness and screening efforts. Despite challenges like high screening costs and limited healthcare access in developing regions, the market is expected to benefit from ongoing product launches and regulatory approvals, such as the FDA's endorsement of new screening technologies.

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Colorectal Cancer Screening Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Advent of Efficacious Genetic Tests

      2. 1.2.2 Increase in Prevalence of Colorectal Cancer

      3. 1.2.3 Increasing Cancer Prevention Initiatives

    3. 1.3 Market Restraints

      1. 1.3.1 High Screening Tests Costs

      2. 1.3.2 Inadequate Healthcare Access in Developing Countries

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Screening Test

      1. 2.1.1 Stool-based Tests

      2. 2.1.2 Colonoscopy

      3. 2.1.3 CT Colonography (Virtual Colonoscopy)

      4. 2.1.4 Flexible Sigmoidoscopy

      5. 2.1.5 Other Screening Tests

    2. 2.2 By End User

      1. 2.2.1 Hospitals

      2. 2.2.2 Independent Diagnostic Labs

      3. 2.2.3 Other End Users

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Colorectal Cancer Screening Market Size FAQs

The Colorectal Cancer Screening Market size is expected to reach USD 15.48 billion in 2024 and grow at a CAGR of 5.16% to reach USD 19.91 billion by 2029.

In 2024, the Colorectal Cancer Screening Market size is expected to reach USD 15.48 billion.

Colorectal Cancer Screening Market Report Snapshots

Colorectal Cancer Screening Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)