In-Vitro Colorectal Cancer Screening Tests Market revenue to cross USD 1.12 Bn by 2027: Global Market Insights Inc.

SELBYVILLE, Del., Oct. 20, 2021 /PRNewswire/ -- The in-vitro colorectal cancer screening tests market size is anticipated to record a valuation of USD 1.12 billion by 2027, according to the most recent study by Global Market Insights Inc. Colorectal cancer (CRC) is predominantly a disease among the elderly adults, with the prevalence of the disease increasing with aging population. The highest incidence rates are reported amongst the adults aged 70 years and above. However, the surging prevalence of colorectal cancer among the younger population is raising alarming bells and is expected to foster the market growth. Certain clinical studies have highlighted the increased incidence of colorectal cancer among people aged 20-50 years. Recent population-based surveys have indicated that colorectal cancer incidence has been on rise in age groups that are currently not targeted by screening programs.

Certain risk factors including the adoption of sedentary lifestyle, unhealthy and irregular eating habits, physical inactivity, and augmented antibiotic use among others contribute to the rising incidence rates. These exposures also affect the gut microbiota and host immunity, further promoting the cancer rates. The rising incidence among younger population is predicted to proliferate the use of the in-vitro colorectal cancer screening tests, thereby facilitating the market expansion.

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The CRC DNA screening tests segment in the in-vitro colorectal cancer screening tests market is poised to witness 7.6% growth rate through 2027 led by the high sensitivity and combined use with other tests to improve accuracy. Moreover, an sDNA test approved by the U.S. FDA comprising multiple DNA test and fecal hemoglobin delivers 92% sensitivity in CRC screening. High sensitivity of CRC DNA screening tests translates to reduced mortality rates concerned with CRC, thereby impelling the product usage. 

The in-vitro colorectal cancer screening tests market for clinics segment will reach USD 117 million by 2027 owing to its ease of service offered by clinics, availability of specialty clinics and acceptance of favourable policies by the health agencies. Clinics refers to medical facilities that offer clinical services concerned to specific therapeutic areas. These healthcare facilities have lower influx of patients as compared to hospitals, and hence are able to provide easy access to advanced services for patients. Additionally, favourable initiatives including the National Cancer Institute (NCI) Cancer Centers Program, a part of the National Cancer Act drives the clinics segment growth. With this initiative, NCI recognizes specialized centers across the country that emphasize on developing better approaches for diagnosing and treating various types of cancer. 

China in-vitro colorectal cancer screening tests market will account for over USD 90 million by 2027. This high industry growth is primarily attributed to rising prevalence of colorectal cancer and presence of substantial co-morbidities & risk factors in the country. The Global Health Journal, in 2018, reported that China houses around 19% of the word population with over 20% newly detected cases and mortalities concerned with CRC. Due to presence of potential risk factors such as rising age, unhealthy lifestyle, diabetes, obesity, gut microbiota status, and precancerous lesions enhance the incidence of CRC. According to the Chinese Journal of Cancer Research, from 1990 to 2017, China witnessed exponential surge in terms of incidence and prevalence rate of CRC. The prevalence rate among the age groups 15-49 (141.6%), 50-69 (209.8%) and 70 & above (189.0%) increased incrementally. The death rate also followed similar trend and surged by 8.6% for 50−69 age group and 31% for 70 & above age group. Exponential increase in prevalence, incidence, and death rates associated with CRC in China are set to proliferate the business growth significantly in the coming years.

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Some of the major players operating in the in-vitro colorectal cancer screening tests market are Abbott Molecular, Epigenomics AG, Novigenix, Sysmex Corporation, Eiken Chemical, Quest Diagnostics, BioMarCare Technologies, Randox Laboratories, OncoCyte Corporation-Bio time, Exact Sciences Corporation, and Immunostics. These companies are engaged in implementing numerous strategic initiatives such as collaborations, product launches, research activities to expand their product portfolio and market presence.

Table of Contents (ToC) of the report:

Chapter 3 In-Vitro Colorectal Cancer Screening Tests Market Insights

3.1  Industry segmentation

3.2  Industry landscape, 2016 – 2027 (USD Million)

3.3  Industry impact factors

3.3.1  Growth drivers

3.3.2  Industry pitfalls & challenges

3.4  Growth potential analysis

3.4.1  By test type

3.4.2  By end-use

3.5  COVID-19 impact analysis

3.6  Porter's analysis

3.7  Competitive landscape, 2020

3.7.1  Company matrix analysis, 2020

3.8  PESTEL analysis

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SOURCE Global Market Insights Inc.