Global In-Vitro Colorectal Cancer Screening Tests Market Report 2023: Sector to Reach $1.63 Billion by 2030 at a 7% CAGR

DUBLIN, May 4, 2023 /PRNewswire/ -- The "Global In-Vitro Colorectal Cancer Screening Tests Market Size, Trends, and Growth Opportunity, by Product, End-User, Imaging Type, Application by Region and Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The global In-Vitro Colorectal Cancer Screening Tests Market was valued at USD 945.91 million in 2022 and is slated to reach USD 1636.02 million by 2030 at a CAGR of 7.08 % from 2023-2030.

The use of in-vitro colorectal cancer screening tests is common to find the disease. The rectum or colon is where colorectal cancer develops. Depending on where it starts, it might also be called colon or rectal cancer. A growth on the inner layer of the colon or rectum is where the majority of colorectal tumors start. A colonoscopy is also one of the most accurate methods for detecting colon cancer.

Market Drivers

During the projection period, it is anticipated that technological developments in colorectal cancer screening will accelerate market expansion. To address market demands for less intrusive diagnostic procedures, the FDA has approved a fecal DNA test and a blood test to identify colorectal cancer. Additionally, advances in industrial genetics have increased the use of in-vitro colorectal cancer screening tests by using DNA sequencing at low cost and fast speed, leading to market expansion. This is anticipated to promote market expansion.

The third most prevalent cancer in the world, colorectal cancer (CRC) affects 1.36 million people worldwide and accounts for 10% of all cancer cases. In the United States, colorectal cancer caused about 142,820 new cases and 50,830 deaths in 2013; in Europe, it caused about 447,000 new cases and 215,000 deaths in 2012. Around 400000 new cases of colorectal cancer were anticipated in China in 2012. As a result, more screening tests are being done, which will aid in patient recovery due to the rising number of cancer occurrences. This thereby accelerates market expansion.

Market Restraints

Due to high expenses and tight budgets, many hospitals in developing and undeveloped countries are unable to invest in colorectal cancer screening. However, due to the enormous demand for diagnostic imaging operations in these nations, hospitals that cannot afford to purchase new and cutting-edge screening equipment use other options. As a result, this factor inhibits market expansion.

Recent Developments

The United States Food and Drug Administration (U.S. FDA) declared the approval of GI Genius, a machine learning-based artificial intelligence device, in 2021. It is made public to assist medical professionals in identifying lesions during a colonoscopy, such as polyps or possible tumors.

Regional Analysis

The global In-Vitro Colorectal Cancer Screening Tests Market is segmented into five regions Americas, Europe, Asia-Pacific, and the Middle East & Africa. The rising incidence rate and enhanced healthcare infrastructure in North America have made it the industry leader. A growing older population was one of the factors contributing to market expansion. Due to the rising prevalence of cancer in this region, the market in the Asia Pacific is expected to experience tremendous growth. Additionally, as the older population in this region grows and Asian nations change their lifestyles to spur market expansion, cancer is becoming a bigger worry.

Key Players

This report includes a list of numerous Key Players, namely Immunostics Inc (U.S.), Abbott (U.S.), Beckman Coulter, Inc (U.S.), Sysmex Corporation (Japan), Siemens Healthcare Private Limited (Japan), Clinical Genomics Technologies Pty, Ltd (U.S.), Epigenomics AG (Germany), Quest Diagnostics Incorporated (U.S.), Eiken Chemical Co, Ltd (Japan), Merck KGaA (Germany).

Market Taxonomy
By Product

• Fecal Occult Blood Test
• Guaiac FOB Stool Test
• Immuno-FOB Agglutination Test
• Lateral Flow Immuno-FOB Test
• Immuno-FOB ELISA Test
• Biomarker Tests
• Tumor M2-PK Stool Test
• Transferrin Assasys
• CRC DNA Screening Tests
• Methylated Gene Test
• Panel DNA Test

By Imaging Type

• Colonoscopy
• Proctoscopy
• CT Scan
• Ultrasound
• MRI
• PET Scan

By End-User

• Hospitals
• Clinics
• Diagnostics laboratories
• Ambulatory Surgical Centers

By Application

• MarCarePlex
• Cologic
• Colox
• miRDIGN
• PanCDx
• MeSorce CRC

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Global In-Vitro Colorectal Cancer Screening Tests Market Outlook

5 Global In-Vitro Colorectal Cancer Screening Tests Market, By Product

6 Global In-Vitro Colorectal Cancer Screening Tests Market, By Imaging Type

7 Global In-Vitro Colorectal Cancer Screening Tests Market, By End-User

8 Global In-Vitro Colorectal Cancer Screening Tests Market, By Application

9 Global In-Vitro Colorectal Cancer Screening Tests Market, By Region

10 North America In-Vitro Colorectal Cancer Screening Tests Market Analysis and Forecast (2023-2030)

11 Europe In-Vitro Colorectal Cancer Screening Tests Market Analysis and Forecast (2023-2030)

12 Asia Pacific In-Vitro Colorectal Cancer Screening Tests Market Analysis and Forecast (2023-2030)

13 Latin America In-Vitro Colorectal Cancer Screening Tests Market Analysis and Forecast (2023-2030)

14 Middle East In-Vitro Colorectal Cancer Screening Tests Market Analysis and Forecast (2023-2030)

15 Competitive Analysis

16 Company Profiles

Companies Mentioned

• Immunostics Inc (U.S.)
• Abbott (U.S.)
• Beckman Coulter Inc (U.S.)
• Sysmex Corporation (Japan)
• Siemens Healthcare Private Limited (Japan)
• Clinical Genomics Technologies Pty Ltd (U.S.)
• Epigenomics AG (Germany)
• Quest Diagnostics Incorporated (U.S.)
• Eiken Chemical Co Ltd (Japan)
• Merck KGaA (Germany)

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

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