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Growing Prevalence of Colorectal Cancer and Health Awareness among the Masses is an aid in the market growth of Colorectal Cancer

HYDERABAD, TELANGANA, INDIA, February 10, 2023 /EINPresswire.com/ -- The Colorectal Cancer Market size is forecast to reach $ 31,237 million by 2025 from $26,269m in 2019, growing at a CAGR of 3.0% during the forecast period 2020-2025. The rising prevalence of colorectal cancer owing to unhealthy food habits and odd food consumption timings of individuals are factors driving the growth of the market. These factors add to the risk of an individual the growth of tumors that would lead to cancer. The increasing geriatric population base and a growing number of clinical trials to market new drugs are set to further enhance the overall market demand for Colorectal Cancer during the forecast period 2020-2025.

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Key Takeaways

1. North America dominated the Colorectal Cancer Market owing to the growing cases in the region. Excess consumption of unhealthy food and carbonated soft drinks in the region is set to add to the growth of colorectal cancer cases in the market. The Colorectal Cancer Market scope for different regions will be provided in the final report.

2. The increasing prevalence of colorectal cancer among individuals and the growing health awareness among the masses is likely to aid in the market growth of Colorectal Cancer.

3. Detailed analysis of the Strength, Weaknesses, and opportunities of the prominent players operating in the market will be provided in the Colorectal Cancer Market report.

4. The high cost of Colorectal Cancer surgeries and drugs is set to create hurdles for the Colorectal Cancer Market.

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Segmental Analysis:

1. The Colectomy segment held the largest share in the Colorectal Cancer Market in 2019 and is estimated to grow at a CAGR of 2.3% during the forecast period 2020-2025. The growth in this segment can be attributed to growing cases of colorectal cancer among individuals. Colectomy is a kind of cancer surgery that deals with the removal of the cancer-affected portion of the colon.

2. Hospitals & Ambulatory Surgical Centers segment of the Colorectal Cancer Market in 2019. The Ambulatory Surgical Center (ASC) is an important part of the practice of gastroenterology, providing a safe, patient-friendly, and cost-effective environment for the provision of medical services such as colorectal cancer screening and colonoscopy, for patients of all ages.

3. North America dominated the Colorectal Cancer Market with a share of more than 37%, followed by Europe. The U.S. held the major revenue share in the North American region. This is owing to the rising awareness among consumers about the diagnosis and treatment of colorectal cancer. The condition is considered the second most common cause of death in the U.S. Excess consumption of unhealthy diets and carbonated soft drinks in this region are key factors that have led to the growth of the Colorectal Cancer Market in this region.

Competitive Landscape:

The top 5 players in the Colorectal Cancer Industry are -

1. Amgen Inc.
2. Roche Holding AG
3. Pfizer Inc.
4. Eli Lilly and Company
5. Bristol Myers Squibb Company

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