Demand For Colorectal Cancer Diagnostics Is Predicted To Rise 2.2X By 2031

(MENAFN- Ameliorate Digital Consultancy)

The global colorectal cancer diagnostics market and have predicted to industry expansion at a CAGR of 8.5% over the decade.

Fact.MR, a market research and competitive intelligence provider, has compiled a comprehensive assessment of various aspects that influence market growth and revenue potential. The market for colorectal cancer diagnostics was worth US$ 2 Bn in 2020, and is predicted to rise 2.2X by the end of the decade.

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Rising in Demand for Colorectal Cancer Diagnostics

Colorectal cancer is one of the most common types of cancer in the world, and its diagnosis is becoming increasingly important. As the population ages, the number of people diagnosed with colorectal cancer is expected to rise. This means that there is a growing demand for more accurate and efficient diagnostic tests for colorectal cancer.

The most common diagnostic test for colorectal cancer is a colonoscopy, which involves inserting a camera into the rectum to look for signs of cancer. However, this procedure can be uncomfortable and time–consuming, and it may not always detect early–stage cancers. In recent years, there has been an increased focus on developing new and improved diagnostic tests for colorectal cancer. These tests include blood tests, stool tests, imaging tests, and genetic tests. Blood tests can detect markers that indicate the presence of cancer cells in the body, while stool tests can detect blood or other substances that may be associated with colorectal cancer.

Imaging tests such as CT scans and MRI scans can help doctors identify tumors or other abnormalities in the colon. Finally, genetic tests can help identify mutations in genes that are associated with an increased risk of developing colorectal cancer. These new diagnostic tests are becoming increasingly popular as they are more accurate and less invasive than traditional methods. As a result, the demand for these tests is rising as more people become aware of their benefits. In addition, advances in technology have made these tests more affordable and accessible to a wider range of people.

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Competitive Landscape

Providers of colorectal cancer diagnosis are investing in the research & development of devices and instruments that would aid in diagnosis and treatment more effectively and efficiently.

  • Researchers at the University of Warwick have developed a new deep learning algorithm that is capable of identifying molecular pathways and mutations that result in the development of colorectal cancer. This could be a breakthrough in treating colorectal cancer patients.
  • Research at the Elizabeth and Vincent Meyer Laboratory of Systems Cancer Biology has discovered a small molecule – RGX-202 – which, in future, could be administered along with therapy treatment to starve colorectal cancer metastasis.
  • Researchers at the Hollings Cancer Center are also studying the increasing incidence of colorectal cancer among young individuals and prevalence in minorities. This research could be crucial in controlling the prevalence of colorectal cancer and aid in providing better preventive diagnostic and treatment solutions.

Key Companies Profiled:

  • Danaher Corporation
  • Rosetta Genomics
  • Epigenomics AG
  • Exact Science Corporation
  • Pathway Genomics Corporation
  • Biocept Inc.
  • Cancer Genetics Inc.

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Key Segments Covered:

  • By Test Type:
    • FOB Tests
    • CTC Tests
    • CEA Tests
    • BRAF V600 Mutation Tests
    • Immunohistochemistry Tests
    • C-kit/CD117
    • KRAS Mutation Tests
    • Others
  • By End User:
    • Hospital-associated Labs
    • Independent Diagnostic Laboratories
    • Cancer Research Institutes
    • Others

Questionnaire answered in the report include:

  • How the industry has grown?
  • What is the present and future outlook on the basis of region?
  • What are the challenges and opportunities?
  • Why the consumption in region?
  • In which year segment is expected to overtake segment?

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