The Advent of Efficacious Genetic Tests
Genetic testing for colon cancer creates better opportunity for early diagnosis. It is highly recommended by the medical community. Screening for the mutations that cause colon cancer is only beginning to be done outside the research labs. If these medical screenings are implemented, then the number of colon cancer cases found in the early stages would increase. Also, gene therapies to alter these mutations is likely to be developed. The increasing awareness about genetic screening methods and advantages in undergoing the test—not for early detection and treatment but also for removal of precancerous cells, which is much cheaper than the usual run of chemotherapy—is driving the market.
Additionally, increase in prevalence population, potential product pipeline and increasing cancer prevention initiatives are also fuelling global colorectal cancer screening market.
High Screening Tests Cost
Many high-income countries, including the United Kingdom and the United States, are facing the challenge of providing care to an ever-increasing population of patients with cancer, owing to expensive screening and treatment. Though the CRC screening tests have potential for early disease detection, they are seldom used. The high cost of these tests is hindering the market growth. The spending associated with a CRC diagnosis increases quickly, even if one has insurance. Although many private insurance plans cover the costs for colonoscopy as a screening test, patients still might be charged for some services, which is again a burden. Not all screening test costs are covered by insurance companies; e.g.: Medicare does not cover the cost of virtual colonoscopy (CT colonography, which is more expensive than colonoscopy).
In addition, inadequate healthcare access in developing countries and lack of screening guidelines in Asia-Pacific is restraining the Global Colorectal Cancer Screening Market.
North America to Dominate the Market
The Global Colorectal Cancer Screening Tests Market is segmented into by test type which is further segmented into Guaiac fecal occult blood test, fecal immunochemical, stool DNA and others. By geography it is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and South America.
North America is dominating the Colorectal Cancer Screening Tests Market due to high incidences of colorectal cancer and rise of the geriatric population in the North American region. Colon cancer is reported to be America’s second deadliest cancer with 50,000 deaths, annually, followed by lung cancer. Rising incidence of colorectal cancer is driving the market in the United States; approximately 1, 44,000 cases of colorectal cancer were found in 2015 in the country and 1, 60, 000 new cases for colorectal cancer are expected to occur by 2020. This increase in the disease occurrence will eventually increase the demand for colorectal cancer screening procedures.
Key Developments in the Market
- October 2017: Novigenix developed Colox blood test procedure for the early detection of Colorectal Cancer.
- June 2017: Sysmex, an in-vitro diagnostics company is acquiring Oxford Gene Technology (OGT), provider of clinical genetics and diagnostics solutions.
- June 2017: Vectibix used for the treatment of wild-type of RAS Metastatic Colorectal Cancer got FDA approval.
REASONS TO PURCHASE THIS REPORT
- Current and future Powered Surgical Instrument Market outlook in the developed and emerging markets
- Analyzing various perspectives of the industry with the help of Porter’s five forces analysis
- The treatment type that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet in excel.
This report can be customized to meet your requirements. Please contact us for more information.
1.1 MARKET DEFINITION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. KEY INFERENCES
5. MARKET OVERVIEW
5.1 CURRENT MARKET SCENARIO
5.2 PORTERS FIVE FORCES
5.2.1 BARGAINING POWER OF SUPPLIERS
5.2.2 BARGAINING POWER OF CONSUMERS
5.2.3 THREATS OF NEW ENTRANTS
5.2.4 THREAT OF SUBSTITUTE PRODUCT AND SERVICES
5.2.5 COMPETITIVE RIVALRY WITHIN THE INDUSTRY
6. DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES ANALYSIS (DROC)
6.1 MARKET DRIVERS
6.1.1 ADVENT OF EFFICACIOUS GENETIC TESTS
6.1.2 INCREASE IN PREVALENCE POPULATION
6.1.3 POTENTIAL PRODUCT PIPELINE
6.1.4 INCREASING CANCER PREVENTION INITIATIVES
6.2 MARKET RESTRAINTS
6.2.1 HIGH SCREENING TESTS COSTS
6.2.2 INADEQUATE HEALTHCARE ACCESS IN DEVELOPING COUNTRIES
6.2.3 LACK OF SCREENING GUIDELINES IN ASIA-PACIFIC
6.4 KEY CHALLENGES
7. Market Segmentation
7.1 SEGMENTATION BY TESTS
7.1.1 BLOOD TESTS
7.1.2 FECAL TESTS
7.1.4 FLEXIBLE SIGMOIDOSCOPY
7.2 SEGEMENTATION BY GEOGRAPHY
7.2.1 NORTH AMERICA
184.108.40.206 UNITED STATES
220.127.116.11 UNITED KINGDOM
18.104.22.168 REST OF EUROPE
22.214.171.124 AUSTRALIA & NEW ZEALAND
126.96.36.199 SOUTH KOREA
188.8.131.52 REST OF ASIA-PACIFIC
7.2.4 MIDDLE EAST AND AFRICA
184.108.40.206 SOUTH AFRICA
220.127.116.11 REST OF MIDDLE EAST AND AFRICA
7.2.5 SOUTH AMERICA
18.104.22.168 REST OF SOUTH AMERICA
8. COMPETITIVE LANDSCAPE
8.1 MERGERS AND ACQUISITION ANALYSIS
8.2 AGREEMENTS, COLLABORATIONS & PARTNERSHIPS
8.3 NEW PRODUCTS LAUNCHES
9. COMPANY PROFILES
9.1 ALERE INC
9.2 CLINICAL GENOMICS
9.3 BECKMAN COULTER
9.4 ABBOTT LABORATORIES
9.5 EXACT SCIENCES CORP
9.7 EIKEN CHEMICAL
9.8 QUIDEL CORPORATION
9.9 NOVIGENIX SA
9.10 SYSMEX CORPORATION
9.11 EPIGENOMICS AG
10. FUTURE OUTLOOK OF THE MARKET