Product ID: SQMIG35E2011
Global In-Vitro Colorectal Cancer Screening Tests Market Size, Share, Growth Analysis, By Product Type(Fecal Occult Blood Tests, Biomarker Tests), By End User(Hospitals, Clinics) - Industry Forecast 2024-2031
Report ID:
SQMIG35E2011 |
Region:
Global |
Published Date: February, 2024
Pages:
200
|
Tables:
72 |
Figures:
75
Global In-Vitro Colorectal Cancer Screening Tests Market Insights
In-Vitro Colorectal Cancer Screening Tests Market size was valued at USD 22.68 billion in 2019 and is poised to grow from USD 23.79 billion in 2023 to USD 64.7 billion by 2031, growing at a CAGR of 11.1% in the forecast period (2024-2031).
Adenomas, polyps, and colorectal cancer symptoms can all be found with in-vitro tests for colorectal cancer screening. A disorder known as colorectal cancer is characterised by the abnormal proliferation of cells in the colon, rectum, and large intestine. Some of the frequently used screening tests include the guaiac FOB stool test, lateral flow immuno, transferrin assays, methylated gene, biomarker, and faecal occult blood (FOB) test. In-vitro colorectal cancer screening procedures employ cameras that take pictures of the digestive system and send them to a recorder fastened to the patient's waist. They are seldom intrusive and can help with early cancer detection. In-vitro colorectal cancer screening procedures are therefore frequently carried out in clinics, hospitals, and diagnostics laboratories. The main factors anticipated to propel the in-vitro colorectal cancer screening tests market over the projected period are the rising occurrences of colon and rectal cancer and the release of innovative screening tests utilising genetic testing. The market for in-vitro colorectal cancer screening tests is anticipated to grow as a result of the introduction of government regulations aimed at requiring the use of cancer screening tests, rising demand for novel, minimally invasive tests that screen for colorectal cancer using DNA and genetic biomarkers, and the rising prevalence of colorectal cancer.
US In-Vitro Colorectal Cancer Screening Tests Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global In-Vitro Colorectal Cancer Screening Tests Market Segmental Analysis
The global in-vitro colorectal cancer screening tests market is segmented based on product type, end user and region. Based on product type it is segmented into fecal occult blood tests, biomarker tests, CRC DNA Screening Tests, Guaiac FOB Stool Test, Immuno-FOB Agglutination Test, Lateral Flow Immuno-FOB Test, Immuno-FOB ELISA Test, Tumor M2-PK Stool Test, Transferrin Assays, Methylated Gene Testing, and Panel DNA Tests. Based on end user, In-Vitro Colorectal Cancer Screening Tests Market is segmented into: Hospitals, Clinics, Diagnostics laboratories and Ambulatory Surgical Centers. Based on region In-Vitro Colorectal Cancer Screening Tests Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
In-Vitro Colorectal Cancer Screening Tests Market Analysis by Product Type
Fecal occult blood tests were discovered to be the market leader for in-vitro colorectal cancer screening tests due to its greater usage rates and straightforward application to screening large populations of people at once. In-vitro colorectal screening tests were found to hold the biggest market share in 2021 for Immuno-FOB ELISA and Immuno-FOB agglutination testing. However, biomarker and DNA screening tests have been created as a result of research and development into better, more precise techniques for in-vitro colorectal cancer screening. The transferrin assays and methylation gene testing are the most recent advancements in screening tests. Transferrin concentration measurement can be useful in identifying precancerous lesions in the early stages of cancer, before the real tumours have spread throughout the body. Due to their simpler use, transferrin dipstick tests, which have accuracy comparable to Immuno-FOB stool tests, are anticipated to grow in popularity over the course of the projection period. Through 2028, it is anticipated that the market for tests that look for excessive gene methylation to assess the likelihood of developing colorectal cancer will grow. During the projected period, it is anticipated that full commercialization of the techniques for genetic in-vitro colorectal cancer screening tests would increase their market penetration levels and revenue shares. Fecal occult blood tests, blood biomarker testing, and stool biomarker tests can all be used to diagnose colorectal cancer, which the American Cancer Society (ACS) ranks as the third most common cancer-related cause of death. Due to its history in the healthcare sector and cheaper cost compared to more recent methods, faecal occult blood (FOB) testing has been the most used diagnostic method among these. The majority of FOB stool tests performed to date around the world have been guaiac tests. On the other hand, because of people's increased desire for tests like the Epi proColon test, the market for blood biomarker tests is anticipated to expand at the fastest rate through 2028.
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Global In-Vitro Colorectal Cancer Screening Tests Market Regional Insights
The North American, European, Asian-Pacific, Latin American, and Middle Eastern regions of the market for in-vitro colorectal cancer screening tests were used to split the market for regional analysis. In-vitro testing for colorectal cancer were the market leader in 2021 in North America.
Due to factors like an increasing geriatric population, rising cancer rates, high healthcare spending in the nation, and the presence of a sophisticated healthcare infrastructure, the United States currently holds the largest market share. These factors are expected to spur the growth of the in-vitro colorectal cancer screening tests market in this region.
However, due to the rising incidence of cancer in this region, Asia-Pacific is anticipated to have significant increase throughout the forecast period. Due to the growing elderly population in Asia and changes in lifestyle, cancer is becoming a bigger issue. For both men and women, in-vitro colorectal cancer is the third most deadly disease. Over the previous ten years, colorectal cancer mortality rates have increased in this area. By 2028, the market for in vitro tests for colorectal cancer screening in China would be worth over USD 90 million. The country's significant co-morbidities and risk factors, as well as the expanding colorectal cancer prevalence, are the main causes of this rapid industry growth. Except for Japan, Korea, Singapore, and Taiwan, there are no national recommendations for colorectal cancer screening in the majority of Asian nations.
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Global In-Vitro Colorectal Cancer Screening Tests Market Dynamics
In-Vitro Colorectal Cancer Screening Tests Market Driver
- The prevalence of colorectal cancer (CRC) is increasing as a result of numerous causes, including the ageing population, the adoption of an unhealthy lifestyle, and diabetes.
- Additionally, rising usage of biomarkers and expanding awareness of in-vitro colorectal cancer screening tests are anticipated to support market advancement.
- The demand for in-vitro colorectal cancer screening tests is expected to rise in the coming years due to factors including the expansion of the patient pool due to the rising incidence of cancer, industry demands for minimally invasive disease diagnostics, and recent market innovations.
- The frequency of colorectal cancer among younger generations, which can occur for a variety of reasons, will increase demand for colorectal screening tests.
- The availability of a variety of screening methods to choose from based on the circumstance, the incorporation of genetic testing into cancer screening tests, and the adoption of laws requiring cancer screening tests have all helped this market flourish.
In-Vitro Colorectal Cancer Screening Tests Market Restraint
- The growth of in-vitro colorectal cancer screening tests market may be negatively impacted by a number of restrictions related to the use of these tests, including a lack of skilled staff and screening protocols in emerging nations.
- The expansion of the industry may be further constrained by the inadequate reimbursement situation for in-vitro testing for colorectal cancer.
- With an ageing population and an increase in physician workload, the APAC region is facing a severe shortage of educated medical personnel.
- The market development for in-vitro colorectal cancer screening tests is expected to be hampered by the lack of supportive policies and campaigns for boosting awareness and use of these tests.
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Global In-Vitro Colorectal Cancer Screening Tests Market Competitive Landscape
The existence of several international players defines the global market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our in-vitro colorectal cancer screening tests market reports, some of the leading quality in-vitro colorectal cancer screening tests manufacturers are as follows: Abbott (US), F. Hoffmann-La Roche AG (Switzerland), Quest Diagnostics (US), Sysmex Corporation (Japan), Siemens Healthcare (Germany), Alere Inc. (US), Eiken Chemical (Japan), Siemens AG (Germany), OncoCyte Corporation-Biotime (US), Merck KGaA (Germany).
Top Players in the Global In-Vitro Colorectal Cancer Screening Tests Market
- Abbott Laboratories
- Beckman Coulter, Inc.
- Bio-Rad Laboratories, Inc.
- Exact Sciences Corporation
- F. Hoffmann-La Roche AG
- Genomic Health, Inc.
- Hologic, Inc.
- Illumina, Inc.
- Invitae Corporation
- Laboratory Corporation of America Holdings
- Myriad Genetics, Inc.
- Natera, Inc.
- NeoGenomics Laboratories, Inc.
- QIAGEN N.V.
- Quest Diagnostics Incorporated
- Siemens Healthineers AG
- Sysmex Corporation
- Thermo Fisher Scientific Inc.
- VolitionRX Limited
- Zymo Research Corporation
In-Vitro Colorectal Cancer Screening Tests Market Recent Developments
- In July 2022, in Singapore, a research has been started for the identification and validation of novel biomarker combinations that can identify many cancers early. This week, the biotechnology business MiRXES Ptr Ltd revealed that Project CADENCE had begun after a memorandum of agreement was signed (Cancer Detected Early caN be CurEd).
- In July 2022, with assistance from Amazon Web Services' (AWS) Health Equity Initiative, Medtronic plc (NYSE:MDT), a leader in healthcare technology, and the American Society for Gastrointestinal Endoscopy (ASGE) announced they are expanding the Medtronic Health Equity Assistance Program for colon cancer screening in medically underserved communities across the United States. From 50 to 133 GI Genius units, spread throughout 62 locations, have been provided as part of the initiative.
Global In-Vitro Colorectal Cancer Screening Tests Key Market Trends
- One of the main factors propelling the market's expansion is the rising frequency of colorectal cancer among the general population. Additionally, growing public awareness of the advantages of early cancer detection and prompt treatment is favourably affecting market expansion. The market is expanding as a result of numerous technological developments, such as the inclusion of genetic testing in cancer screening tests. These tests support early detection, the creation of treatment regimens, stopping the spread of cancerous cells, and lowering the dangers of afflicted conditions.
- In accordance with this, the market expansion is being aided by the rising desire for minimally invasive (MI) diagnostic procedures to find colorectal cancer.
- The market is expected to increase as a result of a number of other factors, including an ageing population that is more vulnerable to such illnesses, substantial advancements in the healthcare sector, and the implementation of different government initiatives requiring cancer screening tests.
- GlobalData estimates that 78 million Americans between the ages of 50 and 75 will have a colorectal cancer (CRC) screening this year. There is a significant push to develop cutting-edge, minimally invasive, accurate cancer screening methods since the US CRC screening test market is predicted to increase to $2.4 billion by 2030.
Global In-Vitro Colorectal Cancer Screening Tests Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by product type, fecal occult blood tests held the largest share of the market in 2021 of the global revenue share. Region-wise, the North America had dominated the market, followed by Asia Pacific. This large revenue share can be result of a variety of things, including the high prevalence of CRC, the favourable reimbursement environment, and the rising prevalence of obesity nationwide. One of the frequent tumours that causes a considerable number of fatalities in the United States is colorectal cancer.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 22.68 billion |
| Market size value in 2031 | USD 64.7 billion |
| Growth Rate | 11.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global In-Vitro Colorectal Cancer Screening Tests Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global In-Vitro Colorectal Cancer Screening Tests Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global In-Vitro Colorectal Cancer Screening Tests Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global In-Vitro Colorectal Cancer Screening Tests Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global In-Vitro Colorectal Cancer Screening Tests Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global In-Vitro Colorectal Cancer Screening Tests Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global In-Vitro Colorectal Cancer Screening Tests Market Report Snapshots
- Global In-Vitro Colorectal Cancer Screening Tests Companies
- Global In-Vitro Colorectal Cancer Screening Tests Market Size
- Global In-Vitro Colorectal Cancer Screening Tests Market Analysis
- Global In-Vitro Colorectal Cancer Screening Tests Geographic Analysis
- Global In-Vitro Colorectal Cancer Screening Tests Market News
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