The colorectal cancer screening market was valued at US$1.639 billion in 2021 and is expected to grow at a CAGR of 5.55% during the forecast period.

NOIDA, UTTAR PARDESH, INDIA, November 9, 2023 /EINPresswire.com/ -- According to a new report published by Knowledge Sourcing Intelligence, forecasted between 2021 and 2028, colorectal cancer screening market was valued at US$1.639 billion in 2021 and is anticipated to grow at a CAGR of 5.55%.

The prime factors propelling the colorectal cancer screening market growth are the rising incidence and mortality rates of colorectal cancer, increasing awareness about the importance of early detection, growing adoption of advanced screening technologies, and expanding the aging population at higher risk of colorectal cancer.

Colorectal cancer screening is the process of testing people for colorectal cancer before they have any symptoms. This is done to find and remove polyps, which are growths in the colon or rectum that can turn into cancer. Early detection and removal of polyps can greatly reduce the risk of developing colorectal cancer. The future of colorectal cancer screening is likely to include the development of even more accurate, reliable, and patient-friendly screening technologies. Additionally, there is a growing trend towards the use of at-home screening tests, which may make screening more accessible and convenient for patients.

The market is witnessing multiple collaborations and technological advancements, for instance, In February 2023, Sonora Quest Labs launched InSure ONE, its inaugural colorectal cancer home screening kit. This convenient test detects human hemoglobin in stool samples to identify potential lower gastrointestinal bleeding, an indicator of colon cancer.

Access sample report or view details: https://www.knowledge-sourcing.com/report/colorectal-cancer-screening-market

Based on screening tests, the global colorectal cancer screening market is divided into flexible sigmoidoscopy, stool-based tests, CT colonoscopy, colonoscopy, and others. Colonoscopy is expected to hold the largest share of the global colorectal cancer screening market. Colonoscopy is the most accurate colorectal cancer screening test available. It can detect both polyps and early-stage cancer. It can also be used to remove polyps, which can prevent them from turning into cancer.

Based on end-users, the global colorectal cancer screening market is divided into independent diagnostic labs, hospitals, and others. Independent diagnostic labs are expected to be the fastest-growing segment of the market. Independent diagnostic labs offer convenient and accessible screening services, often with shorter wait times and more flexible appointment scheduling compared to hospitals. The labs may have lower overhead costs compared to hospitals, potentially leading to more affordable screening services.

Based on Geography, North America is expected to capture a significant share of the global colorectal cancer screening market. North America has a history of early adoption of technology, making it a receptive market for innovative colorectal cancer screening technologies. Advanced screening methods like colonoscopy, CT colonography, and stool DNA tests are widely adopted in the region. The public in North America is increasingly aware of the importance of early detection of colorectal cancer, driving demand for screening services. This awareness is fueled by public health campaigns, media coverage, and healthcare initiatives.

As a part of the report, the major players operating in the colorectal cancer screening market, that have been covered are Eiken Chemical Co. Ltd, Epigenomics Inc., Exact Sciences Corporation, Polymedco Inc, Hemosure Inc., F. Hoffmann-La Roche AG, QuidelOrtho Corporation, Siemens Healthineers AG, Sysmex Corporation, Olympus Corporation.

The market analytics report segments the colorectal cancer screening market using the following criteria:

• BY SCREENING TESTS

o Flexible Sigmoidoscopy
o Stool-based Tests
o CT Colonography
o Colonoscopy
o Others

• BY END-USER

o Independent Diagnostic Labs
o Hospitals
o Others

• BY GEOGRAPHY

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• United Kingdom
• Spain
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• China
• Japan
• South Korea
• India
• Indonesia
• Thailand
• Taiwan
• Others


Companies Profiled:

• Eiken Chemical Co. Ltd
• Epigenomics Inc.
• Exact Sciences Corporation
• Polymedco Inc
• Hemosure Inc.
• F. Hoffmann-La Roche AG
• QuidelOrtho Corporation
• Siemens Healthineers AG
• Sysmex Corporation
• Olympus Corporation

Explore More Reports:

• Global Cancer Immunotherapy Market: https://www.knowledge-sourcing.com/report/global-cancer-immunotherapy-market

• Cancer Diagnostics Market: https://www.knowledge-sourcing.com/report/global-cancer-diagnostics-market

• Global Cancer Vaccines Market: https://www.knowledge-sourcing.com/report/global-cancer-vaccines-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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