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Colorectal Cancer Diagnostics Market Size 2028: Projected Growth and Opportunities
This growth is attributed to the rising demand for diagnostic and screening techniques.
By: TechSci Research
Colorectal cancer is one of the most commonly diagnosed cancers worldwide, with the Global Cancer Statistics 2021 ranking it third with 10.0% of newly detected cases. The deaths caused by colorectal cancer account for 9.4%, making it the second deadliest cancer (5.8% for colon and 3.4% for rectum cancers).
Despite the significant growth opportunities, the market faces several challenges such as a stringent regulatory scenario, high costs associated with diagnostic procedures, and side effects linked with imaging. Additionally, the lack of awareness for early diagnosis and insufficient skilled professionals to conduct sensitive surgeries/biopsy in emerging countries may also impede market growth.
The Global Colorectal Cancer Diagnostics Market can be segmented based on diagnosis type, application, region, and company. The diagnosis type segment includes diagnostic imaging, stool test, biopsy, and others. The diagnostic imaging segment is expected to experience substantial growth due to growing awareness of diagnostic procedures and solutions.
The market can be further segmented into sigmoidoscopy, colonoscopy, and others based on diagnostic imaging. The colonoscopy segment is expected to grow significantly in the future due to its accurate diagnosis and treatment without requiring major surgery. The stool test segment includes guaiac FOBT, fecal immunochemical (or immunohistochemical)
Based on biopsy, the market is segmented into image-guided biopsy, liquid biopsy, and others. The image-guided biopsy segment is expected to witness significant growth due to advancements in imaging solutions. Based on application, the market is segmented into hospitals & specialty clinics, ambulatory care centers, and others. Hospitals and specialty clinics are expected to hold the largest market share and experience the highest CAGR from 2022 to 2028 due to continuous patient care and monitoring. Primary healthcare centers such as hospitals provide high-quality care and cost-effective treatments, which favor the growth of the Global Colorectal Cancer Diagnostics Market.
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The leading companies operating in the Global Colorectal Cancer Diagnostics Market are:
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