Colorectal Cancer Screening Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Colorectal Cancer Screening Market is expected to register a CAGR of 5. 4% in the forecast period of 2021-2026. The COVID-19 pandemic is expected to have a significant impact on the market.

New York, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Colorectal Cancer Screening Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06187404/?utm_source=GNW
Many countries are in lockdown and have suspended trade with other countries and implemented travel restrictions, which has led to the decline in healthcare services, including diagnosis of various diseases. However, the situation is recovering in many of the countries. Due to the restrictions, the diagnosis of bowel cancer decreased, which is likely to impact the market growth in 2021.

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

For many years, colonoscopy has been the preferred modality for both colorectal cancer screening and prevention. Colonoscopy represents a very important diagnostic modality for screening for colorectal cancer, because it has the ability to both detect and effectively remove pro-malignant and malignant lesions. 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. In colonoscopy, a long, thin, flexible, lighted tube is used to check for polyps or cancer inside the rectum and the entire colon. During the test, the doctor can find and remove most polyps and some cancers. Colonoscopy can also be used as a follow-up test if anything unusual is found during one of the other screening tests.

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

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.

Competitive Landscape

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.

Additional Benefits:

The market estimate (ME) sheet in Excel format
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