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| Colorectal Cancer Screening Market |
Colorectal cancer, also known as bowel cancer, colon cancer, or rectal cancer,
is a cancer that develops from the lining of the large intestine (colon) or
rectum. It generally occurs due to lifestyle factors or genetic predisposition.
Common symptoms include blood in the stool and a change in bowel habits.
Screenings help to detect cancer at an early stage when treatment is most effective.
The
global colorectal cancer screening market is estimated to be valued at US$ 14716.31 Mn in 2023 and is expected
to exhibit a CAGR of 5.8% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
Rising prevalence of colorectal cancer: According to the National Cancer
Institute, colorectal cancer is the third most common type of cancer diagnosed
in the United States. It is estimated that around 150,000 new cases of colorectal
cancer are diagnosed each year in the country. The rising incidence of
colorectal cancer cases globally is primarily attributed to lifestyle changes
such as smoking, obesity, lack of physical activity, and consumption of
processed and red meat. As screening helps detect cancer at an early stage, the
growing prevalence of colorectal cancer is expected to upsurge the demand for
colorectal cancer screening tests over the forecast period.
Segment Analysis
The global colorectal cancer screening market is segmented by screening type
into stool-based tests, colonoscopy, and CT colonography. Stool-based tests
dominate the market as they are non-invasive and easy to conduct. The
stool-based tests segment is expected to continue its dominance over the
forecast period due to increasing awareness about these tests and growing
preference for non-invasive procedures.
Key Takeaways
The global Colorectal
Cancer Screening Market Share is
expected to witness high growth over the forecast period of 2023 to 2030. The
global colorectal cancer screening market is estimated to be valued at US$
14716.31 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast
period 2023 to 2030.
The
North America region currently dominates the market due to growing awareness
about colorectal cancer screening and presence of favorable reimbursement
policies. The Asia Pacific region is expected to grow at the fastest rate
during the forecast perioddue to increasing healthcare spending and rise in
screening programs.
Key players related content comprises:Key players operating in the colorectal
cancer screening market are Daikin Industries, Ltd., Mitsubishi Electric
Corporation, LG Electronics Inc., Panasonic Corporation, Johnson Controls
International plc, Carrier Global Corporation, Trane Technologies plc, Fujitsu
General Limited, Midea Group Co., Ltd., Gree Electric Appliances Inc. of
Zhuhai, Samsung Electronics Co., Ltd., Hitachi, Ltd., Toshiba Carrier
Corporation, Haier Group Corporation, Rheem Manufacturing Company
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