Product ID: SQMIG35E2011
Report ID: SQMIG35E2011 | Region: Global | Published Date: September, 2022 | Pages: 200 | Tables: 72 | Figures: 75
In-Vitro Colorectal Cancer Screening Tests Market size was valued at USD 22.68 billion in 2021 and is poised to grow from USD 23.79 billion in 2022 to USD 64.7 billion by 2030, growing at a CAGR of 11.1% in the forecast period (2023-2030).
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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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.
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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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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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
In-Vitro Colorectal Cancer Screening Tests Market Recent Developments
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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.
|Market size value in 2021||USD 22.68 billion|
|Market size value in 2030||USD 23.79 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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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.
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