Colorectal Cancer Diagnostics Demand to Grow by 8.5% CAGR amid Surging Application of Immunotherapeutic Agents for Cancer Treatment

Colorectal Cancer Diagnostics Market to Expand by 2.2x with Maximum Sales Expected to Concentrate in Hospital-associated Labs

Fact.MR in its recent survey covers a detailed analysis of the colorectal cancer diagnostic market including growth drivers, trends, opportunities, and restraints. The report divulges insights into factors enabling growth across various market segments in terms of test type and end users across seven regions.

Fact.MR – A Market Research and Competitive Intelligence Provider: The global colorectal cancer diagnostics market reached a valuation of US$ 2 Bn in 2020. Rising demand for accurate and effective tools for early diagnosis of colorectal cancer is expected to push sales of colorectal cancer diagnostics at a robust 8.5% CAGR through 2031, finds Fact.MR in a recent market analysis.

Increasing incidence of colon and rectal cancer is posing as a global burden on society. Colon and rectal cancers are similar in nature, hence medical professionals are increasing their research and development efforts to develop treatments and diagnostics to aid prevention and treatment of the same.

As per the American Cancer Society, colorectal cancer is the third most common form of cancer in men in women, after skin cancers. Data availed by the American Cancer Society has shown the number of colon cancer cases to reach 104,270, and rectal cancer cases to reach 45,230 in 2021.

Apart from this, the World Health Organization (WHO) has predicted the prevalence of colorectal cancer cases to rise by 70% in 2031. Rising cases of colorectal cancers can be attributed to lifestyle-related disorders, rising geriatric population, and improper dietary habits.

Request a report sample to gain comprehensive insights at

https://www.factmr.com/connectus/sample?flag=S&rep_id=70

Increasing research and development in the field of immunotherapy and combined usage of cancer therapeutics is expected to provide impetus to growth of the colorectal cancer diagnostic market in the forthcoming years.

As per Fact.MR's in-depth regional analysis, demand for colorectal cancer diagnostics is expected to remain high in Europe, driven by high adoption of novel treatment and diagnostic methods in the region. Asia Pacific is expected to follow suit, exhibiting a steady increase in demand for colorectal cancer diagnostics in India and China.

"Fast-track approvals of advanced diagnostics to aid the treatment of colorectal cancer, coupled with increasing collaborative efforts among drug manufacturers and medical research institutes will continue boosting sales in the colorectal cancer diagnostics market through 2031," says a Fact.MR analyst.

Key Takeaways:

• Demand for colorectal FOB tests for colorectal cancer diagnosis is expected to rise at a steady pace over the forecast period.
• Applications of colorectal cancer diagnostics in hospital-associated labs are projected to continue gaining traction through 2031.
• The U.S. will continue exhibiting high demand for colorectal cancer diagnostics due to high prevalence of colon cancer and the presence of a robust healthcare sector.
• China will emerge as a lucrative market owing to the availability of cost-effective diagnostics and surging medical tourism.

Growth Drivers:

• Favorable healthcare reimbursement policies in various developing and developed countries are expected to boost sales of colorectal cancer diagnostics over the forecast period.
• The demand for in-vitro colorectal cancer diagnosis is expected to pick up pace in the coming years. This will create attractive prospects for the expansion of the market.

Ask Your Colorectal Cancer Diagnostics Market Related Questions & Get Customized Reports

https://www.factmr.com/connectus/sample?flag=RC&rep_id=70

Competitive Landscape

Leading players operating in the global colorectal cancer diagnostics market are investing in research and development in collaboration with research institutes and medical research facilities to launch more accurate and efficient cancer diagnostic tools.

For instance, researchers at the Elizabeth and Vincent Meyer Laboratory of Systems Cancer Biology have discovered a small molecule known as RGX-2020. This is expected to be administered with therapy treatment to starve colorectal cancer metastasis in the future.

Key Players in the Colorectal Cancer Diagnostics Market Include:

• Danaher Corporation
• Rosetta Genomics
• Epigenomics AG
• Exact Science Corporation
• Pathway Genomics Corporation
• Biocept Inc.
• Cancer Genetics Inc.

More Valuable Insights on Colorectal Cancer Diagnostics Market

Fact.MR provides an unbiased analysis of the colorectal cancer diagnostics treatment market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global colorectal cancer diagnostics market with a detailed segmentation on the basis of:

Test Type:

• Colorectal Cancer FOB Tests
• Colorectal Cancer CTC Tests
• Colorectal Cancer CEA Tests
• Colorectal Cancer BRAF V600 Mutation Tests
• Colorectal Cancer Immunohistochemistry Tests
• C-kit/CD117
• KRAS Mutation Tests

End User:

• Hospital-associated Labs
• Independent Diagnostic Laboratories
• Cancer Research Institutes

Regions:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

Key Questions Covered in the Colorectal Cancer Diagnostics Market Report

• The report offers insight into the colorectal cancer diagnostics treatment market demand outlook for 2021-2031.

• The market study also highlights projected sales growth for colorectal cancer diagnostics treatment market between 2021 and 2031.

• Colorectal cancer diagnostics treatment market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.

• Colorectal cancer diagnostics treatment market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

Explore Fact.MR’s Coverage on the Healthcare Domain –

Prostate Cancer Diagnostics Market- The prostate cancer diagnostics market is predicted to profit from an expanding geriatric population in the developed countries, as well as access to high-quality healthcare. Both the government and private providers are increasing their healthcare spending by leaps and bounds. Furthermore, sedentary lifestyles have resulted in unhealthy eating habits and inactivity, resulting in an increase in the number of men diagnosed with prostate cancer. The need for prostate cancer diagnosis has risen as a result of increased awareness of general health, frequent body screening, and a preference for early treatment.

CTC Diagnostics Market- Circulating tumor cells (CTCs) are a popular topic in cancer research, diagnosis, and treatment these days, as their ability to self-renew is one of the fundamental causes of carcinogenesis. Because of their accuracy and dependability in diagnosing cancer risks and monitoring various cancer treatments, CTC diagnostic tests are becoming increasingly used. In addition, an increasing number of end users, such as hospitals, diagnostic centers, research and academic institutes, and oncology labs, are seeking to engage with manufacturers in the CTC diagnostics field. The remarkable rise of the global circulating tumor cells market is being fueled by this.

Cancer Profiling Market- The global cancer profiling market is predicted to grow significantly between now and 2021, as the demand for precision medicine and high-quality oncology care grows. With the worldwide cancer burden expected to rise, patients and doctors alike are racing to find highly effective and long-lasting cancer diagnostics, driving a slew of new service providers to enter the market. Increased research and development endeavors by governments, research institutes, and healthcare professionals to introduce state-of-the-art therapeutic and profiling procedures are principally responsible for the industry's rise.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology to even the most niche categories. 80% of Fortune 1000's trust us in critical decision making.

MarketNgage is powered by Fact.MR – our Unified Intelligence Engine, a revolutionary Market Research Subscription platform with a flexible pricing to suit your needs.
 

You can access all our healthcare research reports by signing up with MarketNgage’s Market Research Subscription with FREE credits. MarketNgage is powered by Fact.MR – A Fully integrated research solution for seamless single-window access Widest coverage on emerging markets, nascent products, and disruptive technologies.

Contact:

Mahendra Singh
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com
 

Source: Fact.MR