Colorectal Cancer Diagnostics Market to be dominated by Diagnostic Imaging through 2028
Advancement diagnostic
procedures and rising awareness among individuals is expected to drive the
growth of Global Colorectal Cancer Diagnostics Market during the forecast period.
According to TechSci Research
report, “Colorectal Cancer Diagnostics
Market - Global Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2018-2028,” Global Colorectal Cancer
Diagnostics Market is expected to grow at an impressive CAGR in the forecast
period, 2023-2028 on account of increasing demand for diagnostic and screening techniques.
Colorectal cancer is one
of the most diagnosed cancers in the world. According to Global Cancer
Statistics 2021, Colorectal cancer ranks third with 10.0% of newly detected
cases (6.0% for colon and 3.8% for rectum) and second in terms of deaths with
9.4% (5.8% for colon and 3.4% for rectum cancers).
However, stringent
regulatory scenario related to the high cost of diagnostics procedures, and
side effects associated with imaging and the lack of awareness of early
diagnosis are likely to slow down the market growth in the coming years. Also, lack
of skilled professionals to conduct sensitive surgeries/biopsy pertaining to colorectal
cancer especially in the emerging countries can further slowdown the market
growth.
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Colorectal Cancer Diagnostics Market"
Global
Colorectal Cancer Diagnostics Market can be segmented into diagnosis type, application,
region, and company. Based on diagnosis type, the segment is fragmented into
diagnostic imaging, stool test, biopsy, and others. The segment diagnostic
imaging is expected to show an impressive growth in forecast period due to
growing awareness of diagnostic procedures and solutions.
Based
on diagnostic imaging, the market can be segmented into sigmoidoscopy, colonoscopy,
and others. The segment colonoscopy is likely to show an impressive growth in
the future due to accurate diagnosis and treatment through colonoscopy without
the need for a major operation.
Based
on stool test, the market can be segmented into guaiac FOBT, fecal
immunochemical (or immunohistochemical) Test (FIT), and FIT-DNA Test. The
segment guaiac FOBT is expected to show an impressive growth in the forecast
period due to its advantages like easy sampling and diagnostic imaging.
Based
on biopsy, the market is segmented into image guided biopsy, liquid biopsy, and
others. The segment image guided biopsy will showan impressive growth in the
forecast years due to advancement in imaging solutions.
Based
on application, the market is segmented into hospitals & specialty clinics,
ambulatory care centers, and others. The segment hospitals and specialty clinics
is estimated to hold the largest share of the market, and it is also expected
to experience the highest CAGR from 2022 to 2028 due to continuous patient care
and monitoring. Hospitals are primary
healthcare centers providing high-quality care, cost-effective treatments that favors
the growth of global colorectal cancer diagnostics market.
The
leading companies operating in the Global Colorectal Cancer Diagnostics Market are:
- Abbott Laboratories
- Illumina, Inc.
- Sysmex Corporation
- Beckman Coulter
- Siemens Healthineers AG
- Quest Diagnostics
- Danaher Corporation
- Cancer Genetics Inc.
- Biocept Inc.
- Epigenomics AG
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“North America is expected to
dominate the Global Colorectal Cancer Diagnostics Market during the forecast
period on account of rising patient awareness, advancement in technologies,
presence of key manufacturers in the region. Additionally,
the high market penetration of technologically advanced diagnostic products is
expected to increase the demand for Colorectal Cancer in the coming years.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Colorectal Cancer Diagnostics Market - Global
Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028
Segmented By Diagnosis Type Diagnosis Type (Diagnostics Imaging (Sigmoidoscopy,
Colonoscopy, Others), Stool Test (Guaiac FOBT, Fecal immunochemical Test (FIT),
FIT-DNA Test), Biopsy (Image Guided Biopsy, Liquid Biopsy, Others), Others), By
Application (Hospitals & Specialty Clinics, Ambulatory Care Centers, and
Others, By Region”, has evaluated the future growth
potential of Global Colorectal Cancer Diagnostics Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Colorectal Cancer Diagnostics Market.
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