U.S. Colorectal Cancer Screening Market Set for Robust Growth Due to Increasing Cancer Awareness Programs

U.S. Colorectal Cancer Screening Market Set for Robust Growth Due to Increasing Cancer Awareness Programs

The U.S. colorectal cancer screening market offers a wide range of tests that aid in early detection and prevention of colorectal cancer. Some of the major product types available in the market are fecal occult blood tests, sigmoidoscopy tests, colonoscopy tests, and biomarker tests. Colorectal cancer screening helps detect pre-cancerous polyps or growths in the colon or rectum at an early stage, which can be removed before they turn cancerous. This reduces the chances of developing colorectal cancer. The growing awareness about regular screening being important for early detection is a major factor contributing to the growth of the market.

The Global Colorectal Cancer Screening Market Size is estimated to be valued at US$ 5,952.2 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024-2031.

Key Takeaways 

Key players operating in the U.S. colorectal cancer screening are Polymedco Inc., Eiken Chemical Co. Ltd., Sysmex Corporation, Quidel Corporation, Novigenix SA and Among Others. Polymedco Inc. is one of the leading players offering Occult Blood Test kits for colorectal cancer screening in the US. Eiken Chemical Co. Ltd specializes in fecal immunochemical tests (FIT) and holds a significant market share.

The rising awareness about colorectal cancer and importance of regular screening through various cancer associations and non-profit organizations is creating lucrative growth opportunities in the market. Organizations like American Cancer Society are working to increase CRC screening rates in the US through various awareness campaigns and programs.

Major market players are expanding their presence globally by setting up manufacturing and distribution facilities in different regions. For instance, Sysmex Corporation has expanded its operations across Americas, EMEA, and Asia Pacific to cater to the growing demand. Similarly, Novigenix SA is actively looking to enter partnerships with regional diagnostic laboratories and healthcare providers to market its colorectal cancer screening products.

Market Drivers - Increasing initiatives by governments and healthcare organizations to promote colorectal cancer screening through guidelines and reimbursement policies is a major market driver. Rising obesity rates and unhealthy lifestyles leading to chronic diseases like colon cancer also contributes to the growth.

Market Restraints - However, the high cost of colonoscopy tests limits full utilization of screening. Also, limited awareness in rural areas, lack of screening guidelines until recently, and inadequate healthcare infrastructure in some regions restrict the market growth to some extent.

Segment Analysis

The U.S. colorectal cancer screening market is dominated by fecal occult blood test (FOBT) sub-segment. FOBT accounted for more than 50% market share in 2024 owing to its ability to detect hidden blood in stool. Though FOBT has certain limitations such as requirement of multiple stool samples and low sensitivity, it remains preferred choice for average-risk population due to non-invasive nature and low cost. Colonoscopy sub-segment is the second largest due to its high accuracy in detection of pre-cancerous polyps. However, it has low adoption due to invasive nature and requirement of sedation. Rising awareness about benefits of colonoscopy in prevention is expected to boost growth of this sub-segment during forecast period.

Global Analysis

North America dominates the global colorectal cancer screening market and the trend is likely to continue during the forecast period. Growing elderly population, increasing awareness about early detection and regional government initiatives are key factors driving the North America market. Asia Pacific is projected to witness fastest growth due to rising healthcare expenditure, growing focus of global players in region and improving access to diagnostic services in major countries. However, inadequate infrastructure and lack of mass screening programs especially in Middle East and Africa may hamper market growth in these regions.

What Are The Key Data Covered In This U.S. Colorectal Cancer Screening Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the U.S. Colorectal Cancer Screening Market's growth between 2024 and 2031.

:- Accurate calculation of the size of the U.S. Colorectal Cancer Screening Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- U.S. Colorectal Cancer Screening Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of U.S. Colorectal Cancer Screening Market vendors

FAQ’S

Q.1 What are the main factors influencing the U.S. Colorectal Cancer Screening market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top U.S. Colorectal Cancer Screening Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the U.S. Colorectal Cancer Screening market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

Get more insights on this topic: https://www.marketwebjournal.com/u-s-colorectal-cancer-screening-market-trend-size-and-demand/