Colorectal cancer, also known as bowel cancer, colon cancer, or rectal cancer, is a cancer that develops from the lining of the large intestine (colon) or rectum. It generally occurs due to lifestyle factors or genetic predisposition. Common symptoms include blood in the stool and a change in bowel habits. Screenings help to detect cancer at an early stage when treatment is most effective.
The global colorectal cancer screening market is estimated to be valued at US$ 14716.31 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising prevalence of colorectal cancer: According to the National Cancer Institute, colorectal cancer is the third most common type of cancer diagnosed in the United States. It is estimated that around 150,000 new cases of colorectal cancer are diagnosed each year in the country. The rising incidence of colorectal cancer cases globally is primarily attributed to lifestyle changes such as smoking, obesity, lack of physical activity, and consumption of processed and red meat. As screening helps detect cancer at an early stage, the growing prevalence of colorectal cancer is expected to upsurge the demand for colorectal cancer screening tests over the forecast period.
Segment Analysis
The global colorectal cancer screening market is segmented by screening type into stool-based tests, colonoscopy, and CT colonography. Stool-based tests dominate the market as they are non-invasive and easy to conduct. The stool-based tests segment is expected to continue its dominance over the forecast period due to increasing awareness about these tests and growing preference for non-invasive procedures.
Key Takeaways
The global Colorectal Cancer Screening Market Share is expected to witness high growth over the forecast period of 2023 to 2030. The global colorectal cancer screening market is estimated to be valued at US$ 14716.31 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030.
The North America region currently dominates the market due to growing awareness about colorectal cancer screening and presence of favorable reimbursement policies. The Asia Pacific region is expected to grow at the fastest rate during the forecast perioddue to increasing healthcare spending and rise in screening programs.
Key players related content comprises:Key players operating in the colorectal cancer screening market are Daikin Industries, Ltd., Mitsubishi Electric Corporation, LG Electronics Inc., Panasonic Corporation, Johnson Controls International plc, Carrier Global Corporation, Trane Technologies plc, Fujitsu General Limited, Midea Group Co., Ltd., Gree Electric Appliances Inc. of Zhuhai, Samsung Electronics Co., Ltd., Hitachi, Ltd., Toshiba Carrier Corporation, Haier Group Corporation, Rheem Manufacturing Company
For more insights, read- https://www.ukwebwire.com/colorectal-cancer-screening-market-trends-size-and-share-analysis/
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