Colorectal Cancer Molecular Diagnostics Market 2024 | Market Size, Key Drivers, Industry Developments, Share, Future Growth Prospects and Forecast To 2033
The Colorectal Cancer Molecular
Diagnostics Global Market Report 2024 by The Business Research Company provides
market overview across 60+ geographies in the seven regions - Asia-Pacific,
Western Europe, Eastern Europe, North America, South America, the Middle East,
and Africa, encompassing 27 major global industries. The report presents a
comprehensive analysis over a ten-year historic period (2010-2021) and extends
its insights into a ten-year forecast period (2023-2033).
Learn More On The Colorectal
Cancer Molecular Diagnostics Market:
According to The Business Research
Company’s Colorectal Cancer Molecular Diagnostics Global Market Report 2024,
The colorectal cancer molecular diagnostics market size has grown strongly in
recent years. It will grow from $2.35 billion in 2023 to $2.56 billion in 2024
at a compound annual growth rate (CAGR) of 9.2%. The
growth in the historic period can be attributed to increasing incidence
of colorectal cancer, growing awareness and screening initiatives, rising
emphasis on personalized medicine, government initiatives for cancer control..
The colorectal cancer molecular
diagnostics market size is expected to see strong growth in the next few years.
It will grow to $3.48 billion in 2028 at a compound annual growth rate (CAGR)
of 8.0%. The growth in the forecast
period can be attributed to aging population and increased risk factors,
integration of genomic data into clinical practice, rise in precision medicine
approaches, global efforts in cancer research and collaboration.. Major trends
in the forecast period include increasing emphasis on early detection
biomarkers, integration of artificial intelligence (ai) in data analysis, rise
of circulating tumor dna (ctdna) analysis, expansion of companion diagnostics
for targeted therapies, focus on immunotherapy biomarkers..
The increasing incidence of
inflammatory bowel diseases (IBD) is expected to propel the growth of the
colorectal cancer molecular diagnostic market going forward. Inflammatory bowel
diseases (IBD) are chronic gastrointestinal disorders characterized by digestive
tract inflammation, primarily affecting the colon and rectum, with symptoms
like abdominal pain, diarrhea, and weight loss, managed through medications,
lifestyle changes, and sometimes surgery. The increasing incidence of
inflammatory bowel diseases fuels the demand for accurate, efficient, and
advanced diagnostic solutions that play an essential role, as the determination
of systemic therapy for colorectal cancer (CRC) predominantly relies on the
result obtained from molecular assessment of the tumor. For instance, in May
2021, according to BioMed Central Ltd., a UK-based scientific open-access
publisher, the number of inflammatory bowel disease (IBD) cases is projected to
increase 2.5 times compared to 2020, with approximately 69,000 cases in Iran,
220,000 cases in the Middle East, 2.2 million cases in India, and a significant
4.5 million cases in East Asia during 2020–2035. Therefore, increasing
incidences of inflammatory bowel diseases (IBD) will drive the growth of the
colorectal cancer molecular diagnostic market.
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The colorectal cancer molecular
diagnostics market covered in this report is segmented –
1) By Type: Instruments,
Reagents And Kits, Services
2) By Technology:
Polymerase Chain Reaction (PCR), Sequencing, Mass Spectrometry, Transcription
Mediated Amplification, Chips And Microarrays, Isothermal Nucleic Acid
Amplification Technology (INAAT)
3) By End Users: Hospitals,
Ambulatory Surgical Centers, Diagnostic Laboratories, Homecare Settings
Top Major Players
Johnson & Johnson
Bayer A
Abbott Laboratories
Danaher Corporation
Becton Dickinson and Company
Major companies operating in the
colorectal cancer molecular diagnostic market focus on developing innovative
molecular diagnostics and personalized medicine solutions, such as the shield
blood test approach to identify colorectal cancer at an earlier, more treatable
stage. Shield Blood Test, an initial blood test designed to identify
early-stage colorectal cancer (CRC). For instance, in May 2022, Guardant
Health, a US-based biotechnology company offering oncology molecular diagnostic
products, launched its Shield Blood Test. The susceptible shield test provides
a convenient screening option that involves a simple blood draw to address
challenges related to patients' willingness to get screened. The test showed a
sensitivity of 91% for detecting colorectal cancer and 20% for detecting
advanced adenomas, and the specificity was measured at 92%. The Shield test
identifies early colorectal cancer signals in the blood by utilizing data from
diverse cohorts of over 2,000 subjects with colorectal cancer, 357 with advanced
adenoma, and 3,757 normal subjects.
The colorectal cancer molecular
diagnostics market report table of contents includes:
1. Executive Summary
2. Colorectal Cancer Molecular
Diagnostics Market Characteristics
3. Colorectal Cancer Molecular
Diagnostics Market Trends And Strategies
4. Colorectal Cancer Molecular
Diagnostics Market - Macro Economic Scenario
5. Global Colorectal Cancer
Molecular Diagnostics Market Size and Growth
.............................
32. Global Colorectal Cancer
Molecular Diagnostics Market Competitive Benchmarking
33. Global Colorectal Cancer
Molecular Diagnostics Market Competitive Dashboard
34. Key Mergers And Acquisitions
In The Colorectal Cancer Molecular Diagnostics Market
35. Colorectal Cancer Molecular
Diagnostics Market Future Outlook and Potential Analysis
36. Appendix
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