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Growing at a CAGR of 7.45% in 2022 – 27, the global Colorectal Cancer Screening Market will boost due to increasing colorectal cancer cases and screening across the globe, predicts Mordor Intelligence

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Growing at a CAGR of 7.45% in 2022 – 27, the global Colorectal Cancer Screening Market will boost due to increasing colorectal cancer cases and screening across the globe, predicts Mordor Intelligence

February 03
20:16 2023

Colorectal cancer is largely preventable through screening. Most colorectal cancer cases show familial clustering, which implies that thousands of people have a condition that may have a genetic component and is passed down through the generations. People who have inherited colon cancer syndromes or a strong family history of colorectal cancer are at higher risk of developing the disease. Numerous genetic tests, such as the familial adenomatous polyposis (FAP) test and the hereditary non-polyposis colon cancer (HNPCC) test, have been developed for screening for colon cancer. This trend will continue to grow the market at a CAGR of 7.45% during 2022-2027. 

The technological advancements in the field of colorectal cancer screening are expected to boost the growth of the market.  Moreover, studies show that for CRC screening, fecal immunochemical testing (FIT) is preferable to guaiac-based fecal occult blood tests. Studies demonstrate that the multitarget stool DNA test is more sensitive than the FIT test, although there is concern about the test’s decreasing specificity when used as a one-time test. Due to technological advancements, the accuracy of colon capsule endoscopy is improved. Studies are still being conducted to describe the frequently challenging-to-detect high-risk lesions in computed tomography colonography. Despite having been linked to more advanced, invasive CRC stages, septin 9 continues to exhibit subpar accuracy for CRC screening. 

North America was the largest market for colorectal cancer screening in 2021. For instance, in November 2022, Mainz Biomed announced the United States extension of the ColoFuture study to evaluate the integration of novel mRNA biomarkers into ColoAlert. ColoFuture/eAArly DETECT are multi-center studies assessing the potential of these biomarkers to identify advanced adenomas, a type of pre-cancerous polyp often attributed to CRC. The US, the UK, France, Brazil, Russia, Germany, and Japan constitute the largest colorectal cancer screening markets. However, markets with more disposable income like China and India will emerge as big opportunities. Colorectal cancer (CRC) ranks third among the most diagnosed cancers in China.  

Government initiatives to increase awareness are playing an integral role and driving the colorectal cancer screening market. For instance, in 2021, the US government declared the month of March as National Colorectal Cancer Awareness Month. The increasing number of colorectal cancer incidences in the United States, along with several educational and financial initiatives, are expected to boost the US colorectal cancer screening market in the future. Moreover, NCI-funded researchers are working to advance our understanding of how to prevent, detect, and treat colorectal cancer (CRC). They are also looking at what factors influence screening behaviors, how to address disparities and the rising rates of CRC in younger people.  

Moreover, the European Union Cancer Plan target aims to ensure that 90% of the EU population who qualify for breast, cervical, and colorectal cancer screenings are offered screening by 2025. The Commission is therefore proposing to replace the 2003 Council Recommendation to ensure it reflects the latest available scientific evidence and technological advancements, and to improve monitoring and data sharing. 

This will create scope for start-ups and existing players to grab growth opportunities in colorectal cancer screening 

The opportunities can be seen through increasing screening and product launches by the key players. In May 2022, Guardant Health, Inc. launched Shield, the company’s first blood-based test for the detection of early-stage colorectal cancer (CRC). The test, which only requires patients to complete a simple blood draw, is intended for adults age 45 and older who are not up to date with recommended screening guidelines, show no symptoms, and are at average risk for CRC. Also, In April 2021, the United States 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. 

About Mordor Intelligence –  

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics. Get a glance at the Global Colorectal Cancer Screening Market Report or ask for a more customised report

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