The Colorectal Cancer Screening Market was valued at USD 12,866 million in 2021 and is expected to register a CAGR of 7.45% during the forecast period.
The COVID-19 pandemic had a significant impact on the market. Many countries were in lockdown and have suspended trade with other countries which has led to the decline in healthcare services, including diagnosis of various diseases. Due to the restrictions, the diagnosis of bowel cancer decreased, which is likely to impact the market growth during the forecast period. For instance, according to the article, 'Effect of the COVID-19 pandemic on colorectal cancer care in France', published in the Lancet magazine in May 2021, researchers found a 31% decrease in new referrals for colorectal cancer in 2020 (March to May) relative to the average of the previous 2 years. Cancer care and maintaining high standards of diagnosis and treatment have been the major priorities of the national healthcare bodies and international healthcare systems across the world. However, the pandemic has shifted this focus away from cancer services. Colorectal cancer patients are particularly vulnerable to the disruption of their care as diagnosis through endoscopy was stopped due to concerns about virus transmission
The major factors for the growth of the colorectal cancer screening market include the advent of efficacious genetic tests, an increase in the prevalence of colorectal cancer, and increasing cancer prevention initiatives.
Most of the Colorectal Cancer cases exhibit familial clustering, which means that tens of thousands of individuals have a disease with a potentially definable genetic component and gets passed down over generations. The risk of Colorectal Cancer is higher in people with a strong family history of colorectal cancer, i.e., inherited colon cancer syndromes. There are a variety of genetic tests that have been developed for colon cancer that include hereditary nonpolypsis colon cancer (HNPCC) test, familial adenomatous polyposis (FAP) test, and many others. Genetic testing for colon cancer creates better opportunities for early diagnosis. For instance, the most common genetic changes related to colon cancer are familial adenomatous polyposis (FAP) and hereditary non-polyposis colorectal cancer (HNPCC). These genetic changes could be identified at a very early age (less than 40 years) through genetic testing. If these medical screenings are employed, the number of colon cancer cases found in the early stages may increase. Also, gene therapies to alter these mutations are likely to be developed. The increasing awareness about genetic screening methods and advantages for undergoing these tests (not only for early detection and treatment, but also for the removal of precancerous cells, which are much cheaper than the usual run of chemotherapy) are driving the colorectal cancer screening market.
Key Market Trends
Colonoscopy is Expected to Dominate the Market
Colonoscopy or coloscopy is the endoscopic examination of the large bowel and the distal part of the small bowel with a charged coupled device (CCD) camera or a fiber optic camera on a flexible tube passed through the anus. Colonoscopy allows the accurate diagnosis and treatment without the need for a major operation. In addition to this, the colonoscope can also remove the polyps. However, in preparation to the test, the patient has to take a dose of laxatives to cleanse the colon. The factors such as growing burden of colorectal cancer coupled with recommendations by public organizations for timely screening, technological advancement and launch of products in the market is propelling the growth of market over the forecast period. The recommendations by the public organizations for timely screening of colorectal cancer through colonoscopy is boosting the growth of market segment. For Instance, American Cancer Society article titled ‘American Cancer Society Guideline for Colorectal Cancer Screening’ updated in November 2020 recommends that people at the average risk of colorectal cancer start regular screening at the age of 45. It is recommended that colonoscopy should be done every 10 years for examining the colon and rectum, which will avoid the future complications, such as cancer.
For many years, colonoscopy has been the preferred modality for both colorectal cancer screening and prevention. According to the United States Preventive Services Task Force in May 2021, the recommended age at which adults can be screened for colorectal cancer is 45 to 75. The decision to be screened after age 75 should be made on an individual basis. Thus, due to the age criteria, many people can be screened for the disease.
Moreover, colorectal cancer incidence is expected to increase in the future. As per the 2020 report by the International Agency for Research on Cancer, the number of cases of colon cancer cases are exepcted to rise from 1.15 million to over 1.92 million by 2040. As colonoscopy is the preferred diagnostic screening test for the cancer, the demand for colonoscopy will rise with increasing incidence of cancer. This will also boost the market growth.
North America is Expected to Dominate the Market
North America is expected to account for the significant market share in the studied market. The United States and Canada have a developed and well-structured health care system. These systems also encourage research and development. These policies encourage global players to enter the United States and Canada market. The United States is the largest market in the region. According to the International Agency for Research on Cancer, colon cancer is reported to be one of America’s deadliest cancer with 54,443 deaths in 2020, followed by lung cancer. It was estimated that approximately 155,008 cases of colorectal cancer were found in 2020.
This high disease incidence may eventually increase the demand for colorectal cancer screening procedures. Several companies are coming up with advanced screening procedures, including genetic tests, which are gaining acceptability in the United States market. Initiatives, like National TV campaigns, digital marketing, primary care sales force, collated materials, clinical and health publications, etc., are helping to increase the adoption of colorectal cancer screening procedures in the United States. Also, government initiatives are increasing awareness, which is playing an integral role and driving the market for colorectal cancer screening in the country. For instance, the United States government, in March 2021, declared the month as the National Colorectal Cancer Awareness Month. Increasing number of colorectal cancer incidences in the United States, along with several educational and financial initiatives, is expected to increase the colorectal cancer screening market in the United States in the future.
The market studied is a moderately consolidated market, owing to the presence of many small and large market players. Some of the market players are Abbott Laboratories, Clinical Genomics Technologies Pty Ltd, Epigenomics Inc., Exact Sciences Corporation, F. Hoffmann-La Roche AG, Hemosure Inc., Novigenix SA, Quidel Corporation, Siemens Healthineers AG, and Sysmex Corporation.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Advent of Efficacious Genetic Tests
4.2.2 Increase in Prevalence of Colorectal Cancer
4.2.3 Increasing Cancer Prevention Initiatives
4.3 Market Restraints
4.3.1 High Screening Tests Costs
4.3.2 Inadequate Healthcare Access in Developing Countries
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Stool-based Tests
5.1.3 CT Colonography (Virtual Colonoscopy)
5.1.4 Flexible Sigmoidoscopy
5.2 By End User
5.2.2 Independent Diagnostic Labs
5.2.3 Other End Users
5.3.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.4 Middle East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
5.3.5 South America
184.108.40.206 Rest of South America
6.1.1 Eiken Chemical Co. Ltd
6.1.2 Clinical Genomics Technologies Pty Ltd
6.1.3 Epigenomics Inc.
6.1.4 Exact Sciences Corporation
6.1.5 Polymedco Inc
6.1.6 Hemosure Inc.
6.1.7 Novigenix SA
6.1.8 Quidel Corporation
6.1.9 Siemens Healthineers AG
6.1.10 Sysmex Corporation
6.1.11 Olympus Corporation
A selection of companies mentioned in this report includes:
- Eiken Chemical Co. Ltd
- Clinical Genomics Technologies Pty Ltd
- Epigenomics Inc.
- Exact Sciences Corporation
- Polymedco Inc
- Hemosure Inc.
- Novigenix SA
- Quidel Corporation
- Siemens Healthineers AG
- Sysmex Corporation
- Olympus Corporation