According to the World Cancer Research Fund, colorectal cancer forms the third-most occurring type of cancer across the globe. In 2012, over 1 Mn cases of colorectal cancer were diagnosed. The majority of these cases were reported across developed economies, and this is further estimated to exceed in the near future. This rise in incidences of colorectal cancer has boosted demand for its diagnostics, treatment, and therapeutics worldwide. However, the number of deaths owing to colorectal cancer has been witnessing a decline in the recent past, owing to the awareness spread by the American Cancer Society.Fact.MR’s colorectal cancer diagnostics sales outlook offers category and segment level analysis that provides insights on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at the local, country, and regional level.

The global colorectal cancer diagnostics market is anticipated to exhibit an impressive expansion at a CAGR of 8.5% during the forecast period 2017 to 2022, according to a report by Fact.MR. Global revenues from the market are projected to surpass US$ 2,000 Mn by 2022-end.

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The report on the global market for colorectal cancer discusses such key factors that govern the economics of colorectal cancer diagnostics across the globe. Some of the key influences for the growth of global colorectal cancer diagnostics market include:

rising presence of carcinogenic elements in common consumables
surging exposure to toxic substances in factories & industrial settings
lack of awareness related to causes, symptoms, and preventive measures for colorectal cancer
high healthcare costs, deterring colorectal cancer patients from seeking optimum diagnosis

With growing incidence of colorectal cancer, the future generations will witness a more accessible, affordable, and diagnosis-associated treatment for colorectal cancer. As colorectal cancer research organizations & societies struggle to develop effective medications in tight-budgeted capitals, governments are deploying initiatives that boost the awareness of colorectal cancer.

Need for Premeditated Colorectal Cancer Patient Compliance

Colorectal cancer patients are often riddled with confusing options for diagnosis. Choosing the right screening test can become a dilemma for the patient and his/her family.

Companies manufacturing medical instruments and devices for diagnosis of colorectal cancer are expected to mitigate such difficulties by facilitating a well-laid patient compliance regime.

The global market for colorectal cancer diagnostics is anticipated to witness significant impact from diagnosis-associated patient compliance trials. Positive attitudes of patients towards certain diagnosis alternatives is decisive in changing future undertakings.

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6 Key Projections for the Global Colorectal Cancer Diagnostics Market

North America will continue to be the most lucrative region for the colorectal cancer diagnostics market. Revenue from market in North America is expected to surpass US$ 800 Mn by 2022-end.
The colorectal cancer diagnostics market in Asia Pacific excluding Japan (APEJ) is expected to register the fastest expansion during the forecast period. However, revenue from the market in Middle East & Africa (MEA) will continue to be sluggish during the forecast period.
By test type, FOB will continue to be the largest adopted test for diagnosis of colorectal cancer across the globe. Revenue from FOB tests for colorectal cancer diagnostics will remain largest, followed by CTC tests.
Immunochemistry tests for colorectal cancer diagnostics will exhibit the highest CAGR through 2022. However, revenue from BRAF tests will remain the lowest in the global colorectal cancer diagnostics market during the forecast period.
On the basis of end-users, although hospital-associated labs will remain sought-after in the market, cancer research institutes will continue to register the fastest expansion during the forecast period.
Revenues from hospital-associated labs for colorectal cancer diagnostics are expected to reach nearly US$ 1,000 Mn by 2022-end. Independent diagnostic laboratories will continue to be the second most lucrative end-users in the global colorectal cancer diagnostics market.

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Colorectal Cancer Diagnostics Market – Assessment of Key Segments

Test Type

FOB
CTC Tests
BRAF V600 Mutations
CEA Tests
C-kit/CD117
KRAS Mutation Tests
Immunohistochemistry
Others

End User

Hospital Associated Labs
Independent Diagnostic Laboratories
Cancer Research Institutes
Others

Key Market Players Mentioned in Fact.MR’s report on the Global Colorectal Cancer Diagnostics Market

Myriad Genetics Inc
NeoGenomics Laboratories
NanoString Technologies Inc.
Sysmex Corporation
Rosetta Genomics
Illumina Inc.
Quest Diagnostics Incorporated
Roche Holding AG
Thermo Fisher Scientific Inc.
Abbott Laboratories

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