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In-Vitro Colorectal Cancer Screening Test Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

A11000
Pages: NA
Jun 2021 | 100 Views
 
Author(s) : Onkar Sumant
Tables: NA
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COVID-19

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Colorectal cancer also known as bowel cancer and colon cancer, is a form of cancer that affects the colon and the rectum in which there is an abnormal and uncontrolled division cells leading to the formation of a malignant tumor. Most colorectal cancers start with a growth in the inner surface of tissues of the colon or rectum also called as polyps. Polyps can be often observed in people older than 50 years of age, and aren’t necessarily a form of colorectal cancer; however, development of an adenoma (a distinguishing class of polyp) is associated with higher risk of developing into a cancer. Colorectal cancer (CRC) is one of the most common forms of cancers and has become the second leading cause of new cancer cases in Europe and the third in the United States.

Several screening techniques have been developed for CRC screening that detect adenomas and polyps and have shown to be an effective way to identify early CRC and precancerous lesions, and to reduce its morbidity and mortality, thus actually prevent the development of cancer and not just early detection.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Test type, Imaging type, End users and Region

  Geographies covered

•             North America (U.S., Canada, Mexico)

•             Europe (France, Germany, UK, Italy, Spain, Rest of Europe)

•             Asia-Pacific (Japan, China, India, Australia, South Korea, Rest          of Asia-Pacific)

•             LAMEA (Brazil, South Arabia, South Africa, Rest of LAMEA)

  Companies covered

Abbott Molecular Inc., Beckman Coulter Inc., Epigenomics AG Corporation, Siemens Healthcare, Quest Diagnostics Incorporated, OncoCyte Corporation-Biotime, Merck Millipore, GeneNews Ltd., Immunostics Inc., Mode Diagnostics and R-Biopharm Incorporation.

 

COVID – 19 scenario analysis:

  • Due to the COVID – 19  outbreak, majority of healthcare, pharmaceutical and biotechnology organizations have concentrated on diagnostics kits, safety wearables (PPE kits, face shields, masks) and treatment therapies and medication against Novel coronavirus
  • R&D labs are also focusing on finding a breakthrough vaccine against Novel coronavirus
  • As there is strain on healthcare providers and the hospitals are flooding with patients suffering with SARS-CoV-2 and the intake capacity of hospitals already at its peak, colorectal cancer screenings have been either postponed or put on hold as the health professionals are summoned to fight COVID-19
  • Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to colorectal cancer screening has been reduced and this segment have to face negligence subsequently causing negative impact on In-vitro colorectal cancer screening tests market
  • Some research from China, has also stated that cancer patients are at higher risk as they’re vulnerable against SARS-CoV-2 and have higher chances of getting infected with the virus

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The growth in patient pool pertaining to rising prevalence of cancer, industry requirements for minimally-invasive disease diagnostics and recent industry developments is set to drive in-vitro colorectal cancer screening tests market in the near future. The National Cancer Institute’s statistics, highlight the number of people suffering from colorectal cancer is nearly 1,317,247 the in U.S. alone in the year 2014. Additionally, the trend regarding prevalence of colorectal cancer in younger generations due to myriad of reasons will amplify the demand for colorectal screening tests. Furthermore, introduction of various screening techniques to choose from considering the situation, integration of genetic testing in cancer screening tests along with the introduction of mandatory regulations by authorities aiming to make cancer screening tests compulsory has further boosted the growth of this market.

Favorable policies and affordability of DNA sequencing owing to technological advancements in the biotech disciple will further ensure market growth. Recently, the FDA gave approval to faecal DNA test and blood test for detecting colorectal cancer to meet market requirements for minimally invasive diagnosis tests. Developments in the field of Industrial Genetics have facilitated DNA sequencing with immense speeds and at affordable costs which will surge the adoption rate for in-vitro colorectal cancer screening tests thereby expanding the market. Pouring of funds in research and development activities emphasizing the development of better DNA sequencing methods such as RNAP sequencing, microfluidic Sanger sequencing, hybridization will have significant impact on development of this market.

On the contrary, dearth of skilled professionals and lack of uniform cancer screening guidelines and awareness in emerging economies will act as an obstacle for market growth over the coming years.

Rising prevalence of cancer and increasing number of patients

According to the Cancer Research UK, around 17 million cancer cases were registered in 2018, out of which 56% of the cases were fatal. As per a research report by the World Health Organization (WHO), in low- and middle-income countries, around 70% of deaths occurs due to cancer. Poor food habits, changing lifestyle, increase in of smoking habits, genetic mutation, alcohol and hormones consumption, urban air pollution are the frequent reasons for the increasing number of cancer patients in the world. Colorectal cancer (CRC) is third most common cancer in the world with 1.36 million people affected globally, accounting for nearly 10% of cancers. Around 142820 new cases with 50830 deaths were accounted in the United States in 2013 due to colorectal cancer, and approximately 447000 new cases of CRC and 215000 deaths in European countries were recorded in 2012. The new cases for colorectal cancer in China were estimated to be around 400000 in 2012, and it has become the third leading cause of death in the country. Thus, the rising number of cancer across the globe is proving to be significant for boosting the growth of for in-vitro colorectal cancer screening tests market.

North American region expected to dominate the market

The U.S. alone accounts for an estimated 1.8 million cancer patients and over 606,000 deaths in 2019 and this number is expected to grow with time. North American region is expected to grow due to factors like rising incidence of cancer patients as well as the presence key players in the market along with advancing paradigm of care for cancer patients that is supporting the growth in this region. United States holds the largest market share due to factors such as a growing number of geriatric populations, along with an increasing number of cancer as well as high healthcare spending in the country and the availability of advanced healthcare infrastructure are few of the factors, which is anticipated to stimulate the growth for in-vitro colorectal cancer screening tests market in this region.

Key segments:

Segments

Sub-segments

  Test type

  • Fecal Occult Blood Tests
  • Biomarker Tests
  • CRC DNA Screening Tests

  Imaging type

  • Colonoscopy
  • Proctoscopy
  • CT Scan
  • Ultrasound
  • MRI
  • PET Scan

  End users

  • Hospitals
  • Clinics
  • Diagnostics Laboratories

  Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

 

Key benefits of the report:

  • This study presents the analytical depiction of the global in-vitro colorectal cancer screening tests industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global in-vitro colorectal cancer screening tests market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global in-vitro colorectal cancer screening tests market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global in-vitro colorectal cancer screening tests market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the In-vitro colorectal cancer screening tests Market research report:

  • What are the leading market players active in the in-vitro colorectal cancer screening tests market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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