Global Colorectal Cancer Screening Market Report 2023: Sector is Expected to Reach $9.73 Billion by 2033 at a CAGR of 15.94%

DUBLIN, June 16, 2023 /PRNewswire/ -- The "Colorectal Cancer Screening Market - A Global and Regional Analysis: Focus on Technique, Sample Type, End User, and Country Analysis - Analysis and Forecast, 2023-2033" report has been added to  ResearchAndMarkets.com's offering.

The global colorectal cancer screening market is projected to reach $9.73 billion by 2033 from $1.93 billion in 2022, growing at a CAGR of 15.94% during the forecast period 2023-2033.

The growth in the global colorectal cancer screening market is expected to be driven by the rising incidence of colorectal cancer and the increasing financial burden on healthcare, advances in genomics and molecular diagnostics, and the growing demand for non-invasive testing for colorectal cancer.

Market Lifecycle Stage

The colorectal cancer screening market is in the developing phase. Government-sponsored population-wide screening programs and the growing burden of colorectal cancer and patient awareness in emerging economies can be some of the major opportunities in the global colorectal cancer screening market. Furthermore, some of the key trends going on in the market are the rise of at-home and multimodal approaches for colorectal cancer screening.

Impact of COVID-19

COVID-19 had a significant impact on the global colorectal cancer screening market. There was a significant shift observed toward research activities for treating and diagnosing COVID-19, which resulted in a halt in research activities for colorectal cancer screening. Moreover, the market players witnessed a loss in 2020 due to COVID-19 restrictions and prevention actions such as a reduction in supply chain and sales.

However, since the situations are now almost back to normal, the colorectal cancer screening market is expected to overcome all the impact of COVID-19 during the forecast period 2023-2033.

Recent Developments in the Global Colorectal Cancer Screening Market

• In April 2023, Mainz Biomed NV expanded its network of lab partners by adding the Instituto de Microecologia in Madrid, Spain. This new partnership strengthens the company's reach across Europe and select international markets. ColoAlert, Mainz Biomed NV's flagship product, is an easy-to-use and highly effective at-home detection test for colorectal cancer. With this expansion, Mainz Biomed NV aims to increase accessibility to its innovative diagnostic solutions and contribute to the early detection and treatment of cancer.
• In April 2023, Mainz Biomed NV announced that three German companies have chosen to include ColoAlert, the company's at-home screening test for colorectal cancer (CRC), in their corporate health programs.
• In March 2023, Guardant Health collaborated with the Ohio State University Comprehensive Cancer Center to study colorectal cancer screening adherence.
• In February 2023, Mainz Biomed acquired the entire intellectual property portfolio for its colorectal cancer diagnostic test program.
• In May 2022, ColoClear, a non-invasive stool DNA test to identify colon cancer, was launched by New Horizon Health in collaboration with Prenetics in Hong Kong.
• In December 2022, Epigenomics AG entered into a licensing agreement with the University of Texas MD Anderson Cancer Center. The agreement grants Epigenomics AG certain patent and technology rights related to biomarkers that are linked to the detection of colorectal cancer. This development would enable Epigenomics AG to expand its offerings in the field of cancer detection and further enhance its position as a leading player in the industry.

Demand - Drivers and Limitations

The following are the drivers for the global colorectal cancer screening market:

• Rising incidence of colorectal cancer and increasing financial burden on healthcare
• Advances in genomics and molecular diagnostics
• Growing demand for colorectal cancer screening
• Earlier cancer detection enables reduced treatment cost

The market is expected to face some limitations as well due to the following restraints:

• Limited sensitivity of fit/fobt testing kits
• Challenges with sample collection

Key Companies Profiled

• Clinical Genomics Technologies Pty Ltd.
• Danaher Corporation
• DiaCarta, Inc.
• Eiken Chemical Co., Ltd.
• Epigenomics AG
• Exact Sciences Corporation
• Freenome Holdings, Inc.
• Guardant Health, Inc.
• Lepu Medical Technology (Beijing) Co., Ltd.
• Mainz Biomed NV
• New Horizon Health
• Novigenix SA
• Prenetics Global Limited
• Quest Diagnostics
• QuidelOrtho Corporation

Key Topics Covered:

1 Markets
1.1 Global Market Outlook
1.2 Industry Outlook
1.2.1 Regulatory Framework
1.2.1.1 Regulatory Framework in the U.S.
1.2.1.2 Regulatory Framework in Europe
1.2.1.3 Regulatory Framework in Asia-Pacific
1.2.1.3.1 China
1.2.1.3.2 Japan
1.2.1.3.3 India
1.2.2 Reimbursement Scenario
1.2.2.1 Fecal Immunochemical Testing/Fecal Occult Blood Testing
1.2.2.2 Molecular Testing
1.2.3 Patent Analysis
1.2.3.1 Patent Filing Trend (by Country)
1.2.3.2 Patent Filing Trend (by Year)
1.2.4 Key Trends
1.2.4.1 Rise of At-Home Colorectal Cancer Screening
1.2.4.2 Multimodal Approaches to Colorectal Cancer Screening
1.2.5 COVID-19 Impact
1.2.5.1 Impact of COVID-19 on Colorectal Cancer Screening Market
1.2.5.2 Pre-COVID-19 Phase
1.2.5.3 During-COVID-19 Phase
1.2.5.4 Post-COVID-19 Phase
1.2.6 Product Landscape
1.2.7 Business Dynamics
1.2.7.1 Impact Analysis
1.2.7.2 Business Drivers
1.2.7.2.1 Rising Incidence of Colorectal Cancer and Increasing Financial Burden on Healthcare
1.2.7.2.2 Advances in Genomics and Molecular Diagnostics
1.2.7.2.3 Growing Demand for Colorectal Cancer Screening
1.2.7.2.4 Earlier Cancer Detection Enabling Reduced Treatment Cost
1.2.7.3 Business Restraints
1.2.7.3.1 Limited Sensitivity of FIT/FOBt Testing Kits
1.2.7.3.2 Challenges with Sample Collection
1.2.7.4 Business Opportunities
1.2.7.4.1 Expansion of Screening Programs
1.2.7.4.2 Emerging Markets Proposing Significant Untapped Potential

2 Global Colorectal Cancer Screening Market (by Technique)
2.1 Opportunity Assessment
2.2 Growth-Share Matrix
2.3 Fecal Occult Blood Test (FOBT) and Fecal Immunochemical Test (FIT)
2.4 Molecular Testing

3 Global Colorectal Cancer Screening Market (by Sample Type)
3.1 Opportunity Assessment
3.2 Growth-Share Matrix
3.3 Stool-Based Samples
3.4 Blood-Based Samples
3.5 Other Sample Types

4 Global Colorectal Cancer Screening Market (by Region)

5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.2 Company Profile

For more information about this report visit https://www.researchandmarkets.com/r/od4j8k

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