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Colorectal Cancer Diagnostics Market Trends

Report ID: GMI6924
Published Date: Oct 2023
Report Format: PDF

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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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global colorectal cancer diagnostics industry value was USD 13 billion in 2022 and is estimated to account for USD 30.2 billion by 2032.

The hospitals segment garnered USD 5,335.9 million in the year 2022 and is expected to witness substantial growth through 2032 as awareness campaigns and educational efforts conducted at hospitals have significantly influenced public understanding of cancer screenings importance.

U.S. colorectal cancer diagnostics market accounted for USD 4.3 billion revenue size in 2022 and is predicted to witness substantial market growth through 2032 attributable to factors such as the presence of major business players, an increase in colorectal cancer screening procedures, etc.

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., and Epigenomics AG.