IMARC Group’s latest report, titled “In-vitro Colorectal Cancer Screening Tests Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global in-vitro colorectal cancer screening tests market size reached US$ 880.1 Million in 2021. In-vitro colorectal cancer screening tests refer to diagnostic procedures that aid in detecting adenomas, polyps, and symptoms of colorectal cancer (CRC), characterized by abnormal cell growth in the large intestine, colon, and rectum. Some of the most common CRC screening tests include fecal occult blood (FOB), lateral flow immuno, transferrin assays, panel DNA, methylated gene, biomarker, and guaiac FOB stool tests. They are performed using cameras to capture images of the digestive tract and transfer them to the recorder tied to the waist of the patient. In recent years, in-vitro CRC screening tests have gained immense traction across clinics, hospitals, and diagnostics laboratories as they are minimally invasive and enable timely cancer detection.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global In-vitro Colorectal Cancer Screening Tests Market Trends:
The rising incidences of colorectal cancer (CRC) represent the primary factor driving the market growth. Besides this, the expanding geriatric population that is more prone to developing such chronic medical ailments is another major growth-inducing factor. Additionally, there has been a substantial shift toward minimally invasive (MI) diagnostic procedures among patients and healthcare professionals to minimize discomfort. In line with this, the growing awareness among the masses regarding the benefits of early detection and timely cancer treatment has augmented the demand for in-vitro CRC screening tests. For instance, the introduction of novel CRC screening tests that utilize genetic testing that assist in early detection, making treatment plans, preventing the spread of cancerous cells, and eliminating the risks of developing associated disorders has catalyzed the market growth. Apart from this, the implementation of favorable government initiatives mandating cancer screening tests is positively influencing the market growth. Other factors, including technological advancements in cancer screening, extensive investments in research and development (R&D) activities, and improving healthcare infrastructure, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 1,284.90 Million by 2027, growing at a CAGR of 6.10% during the forecast period (2022-2027).
- Based on the product, the market has been divided into fecal occult blood tests (guaiac FOB stool test, immuno-FOB agglutination test, lateral flow immuno-FOB test, and immuno-FOB ELISA test), biomarker tests (tumor M2-PK stool test and transferrin assays), and CRC DNA screening tests (methylated gene testing and panel DNA tests).
- On the basis of the imaging type, the market has been classified into colonoscopy, proctoscopy, CT scan, ultrasound, MRI, and PET scan.
- The market has been segregated based on the end user into hospitals, clinics, diagnostic laboratories, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Beckman Coulter Inc. (Danaher Corporation), Eiken Chemical Co. Ltd., Epigenomics AG, Exact Sciences Corporation, Hemosure Inc., Immunostics Inc. (Boditech Med Inc.), Medline Industries LP, Merck KGaA, Qiagen N.V., Quest Diagnostics Incorporated, R-Biopharm AG, Siemens AG, and Sysmex Corporation.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter : @imarcglobal