Colorectal Cancer Diagnostics Market - By Test Type (Blood Test, Stool Tests {FOBT, Fecal Biomarker Test, CRC DNA Screening Test}, Imaging Test {CT Scan, Ultrasound, MRI Scan, PET Scan, Colonoscopy}, Biopsy), By End-use – Global Forecast, 2023-2032

Colorectal Cancer Diagnostics Market Size

Colorectal Cancer Diagnostics Market size was valued at USD 13 billion in 2022 and is estimated to account for USD 30.2 billion by 2032. Colorectal cancer is one of the most prevalent cancer types and third most occurring cancer worldwide. According to the World Cancer Research Fund, there were an estimated 1.9 million new cases of colorectal cancer in 2020. This high incidence rate has fueled the demand for colorectal cancer diagnostics.
 

The American Cancer Society recommends initiating the screening for CRC at the age of 45 instead of 50 as around 10% of colorectal cancer cases belongs to patients with less than 50 years of age. Thus, a considerable rise in the incidence and prevalence rate of early onset of CRC resulting in the demand for reliable diagnostics will stimulate the market growth. Also, detection at an early stage, the five-year survival rate can exceed to 90%, making early diagnosis crucial will promote market demand.
 

COVID-19 Impact

The COVID-19 had a negative impact on the colorectal cancer diagnostics market. At the initial stages of the pandemic, cancer diagnosis, treatment, and screenings experienced setback worldwide. For instance, the NCBI data indicated that there was a 23% decline in population-based colorectal cancer screening tests and a 46% decline in colonoscopy tests in England in 2020. However, with gradual decrease in COVID-19 patient numbers, and increase in procedural volumes, the market gradually witnessed growth in the coming years.
 

Colorectal Cancer Diagnostics Market Trends

The global market is experiencing robust growth, driven by factors such as the increasing incidence of colorectal cancer, technological advancements, rising awareness, and government policies promoting screening. As the market continues to evolve, it is expected to offer more accurate and personalized diagnostic solutions, ultimately contributing to improved patient outcomes in the fight against colorectal cancer.
 

• Governments around the world are implementing screening programs to increase awareness and encourage early diagnosis. For instance, the CDC formed a partnership with American Cancer Society National Colorectal Cancer Roundtable (ACS NCCRT), to enhance colorectal cancer screening rates throughout the U.S. in 2023.
   
• Escalating screening rate and diseased population is influencing the adoption of colorectal cancer diagnostics such as colonoscopy, blood tests and in-vitro colorectal cancer screening tests such as FOBT, fecal biomarker test, CRC DNA screening test, etc. for optimal diagnosis of colorectal cancer.
   

Colorectal Cancer Diagnostics Market Analysis

The market by test type is categorized into threshold suspend blood test, stool tests, imaging test, biopsy, estimated to reach USD 4.8 billion by 2032 and others. The imaging test is further bifurcated into computed tomography scan, ultrasound, magnetic resonance imaging scan, positron emission tomography scan, colonoscopy, and others. The imaging test segment garnered USD 6.4 billion revenue size in the year 2022.
 

• The healthcare facilities are adopting innovative screening tests that results into an improved clinical outcome thereby increasing patient preference ratio
   
• The rising number of admissions for colorectal cancer screening along with the presence of highly skilled medical imaging professionals, are contributing to the positive growth of the segment
   

As a result, the combination of improved accessibility to better treatment and diagnosis, along with the increasing prevalence of colorectal cancer, is projected to drive more patients to visit diagnostics laboratories, ultimately boosting the segment revenue.
 

Based on end-use, the colorectal cancer diagnostics market is segmented into hospitals, diagnostic imaging centers, cancer research centers, and others. The hospitals segment garnered USD 5.3 billion revenue size in the year 2022. The increasing demand for colorectal cancer screening at hospitals is driven by a multitude of factors as follows;
 

• Awareness campaigns and educational efforts conducted at hospitals have significantly influenced public understanding of cancer screening's importance.
   
• Advanced screening guidelines, now recommending screenings for a broader range of individuals, have extended the eligibility criteria driving high number of people opting for disease screening at this medical setting.
   
• Moreover, insurance coverage for screenings has expanded, making them more accessible at hospitals.
   

U.S. colorectal cancer diagnostics market accounted for USD 4.3 billion revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline. This significant market share is attributable to several factors such as the presence of major business players, an increase in colorectal cancer screening procedures, etc.
 

• The presence of prominent players that are engaged in the new product development & commercialization is facilitating the industrial expansion in the country.
   
• Furthermore, the high prevalence rate of colorectal cancer and the rising hospital admission emphasizes the growing need for cancer screening.
   
• The availability of advanced technologies will facilitate the market growth in the U.S. augmenting the overall business growth in the country.
   

Colorectal Cancer Diagnostics Market Share

The colorectal cancer diagnostics industry is consolidated in nature. The companies operating in this industry such as Qiagen N.V. are focusing their efforts on continuous product innovation in order to acquire substantial market share. For instance, in September 2022, Qiagen announced a strategic partnership with Neuron23, a biotechnology company to develop NGS based tests in companion diagnostic. The collaboration helped the company to enhance their R&D activities and build a strong brand image thereby enhancing overall business revenue.

Some of the eminent market participants operating in in the colorectal cancer diagnostics industry include: 

• Abbott Laboratories
• BioMerieux SA
• Becton
• Dickinson and Company
• GE Healthcare
• Qiagen N.V
• F-Hoffmann-La Roche Ltd
• Siemens Healthineers
• Sysmex Corporation
• Thermo Fischer Scientific
• Hologic Inc
• Epigenomics AG
   

Colorectal Cancer Diagnostics Industry News:

• In September 2022, Epigenomics AG announced the launch of multi-center clinical trial for “Next-Generation” blood-based diagnostic screening test for detection of colorectal cancer (CRC). This Next-Gen” test will help patients, physicians, and providers with an easy-to-use non-invasive option that will increase screening rates and improve overall diagnostic outcomes. This strategic launch helped the company to enhance their customer base thereby generating noteworthy business revenue for the company.
   
• In April 2020, Qiagen announced the launch of novel therascreen BRAF V600E RGQ PCR Kit (therascreen BRAF V600E Kit) in metastatic colorectal cancer. This product is intended for use in combination with cetuximab for the treatment of adult patients with metastatic colorectal cancer (CRC). This strategic product launch helped the company to increase their product portfolio and enhance their business revenue.
   

Colorectal cancer diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Test Type, 2018-2032 (USD Million)

• Blood test
• Stool tests
• Fecal occult blood test (FOBT)
• Fecal biomarker test
• CRC DNA screening test 
• Imaging test
• Computed tomography (CT) scan
• Ultrasound
• Magnetic resonance imaging (MRI) scan
• Positron emission tomography (PET) scan
• Colonoscopy
• Other imaging tests
• Biopsy
• Other test types

By End-use, 2018-2032 (USD Million)

• Hospitals
• Diagnostic imaging centers
• Cancer research centers
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East & Africa