Colorectal cancer screening involves the use of tests and exams to help detect colorectal cancer or related abnormal growths in the colon or rectum of asymptomatic persons. The goal of screening is to find and remove adenomatous polyps (which are growths in the colon or rectum that could become cancer over time) or detect cancer at an early stage. Early detection improves treatment options and reduces the risk of dying from this disease.

Market key trends:

One of the key trends in the colorectal cancer screening market is the rising adoption of AI-assisted technologies. Companies are focusing on developing AI-based platforms that can analyze medical images obtained from various screening procedures like colonoscopy, sigmoidoscopy, etc. and detect early signs of cancer or polyps more efficiently than humans. For instance, Anthropic developed an AI called PBC (polyp detection challenge) that uses deep learning to detect polyps in colonoscopy videos and images. Such AI technologies hold promise to make screening procedures more effective by reducing chances of human errors and ensuring accurate diagnosis. They also help address the shortage of GI specialists, thus improving access to quality screening globally.

Segment Analysis

The global colorectal cancer screening market is segmented based on screening type, end user, and region. Based on screening type, the market is segmented into fecal occult blood test, sigmoidoscopy, colonoscopy, and others. Among these, the colonoscopy segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. This is owing to colonoscopy being the gold standard for colorectal cancer screening as it allows direct visualization of the colon and rectum, detection of precancerous polyps which can be removed during the same procedure.

Key Takeaways

The Global Colorectal Cancer Screening Market Share is expected to witness high growth, exhibiting CAGR of 7.5% over the forecast period, due to increasing awareness initiatives by governments and NGOs regarding early detection and treatment of colorectal cancer.

The global colorectal cancer screening market is expected to witness high growth, exhibiting CAGR of 7.5% over the forecast period, due to increasing awareness initiatives by governments and NGOs regarding early detection and treatment of colorectal cancer. The market was valued at US$ 14716.31 Mn in 2023 and is projected to reach US$ 26654.23 Mn by 2030.

Regional analysis:

North America dominated the global colorectal cancer screening market in 2023 and is expected to continue its dominance during the forecast period. This is attributed to presence of advanced healthcare infrastructure and favorable reimbursement policies for cancer screening in the region. Asia Pacific is expected to exhibit the highest growth rate during the forecast period due to rapidly growing healthcare sector and increasing awareness programs about colorectal cancer in developing countries like India and China.

Key players:

Key players operating in the colorectal cancer screening market include Polymedco Inc., Eiken Chemical Co. Ltd., Sysmex Corporation, Siemens Healthineers AG, Quidel Corporation, Novigenix SA, Hemosure Inc., Exact Sciences Corp., Epigenomics Inc., Olympus Corporation, and Clinical Genomics Technologies Pty Ltd., among others. These players are focusing on new product launches and strategic collaborations to strengthen their market position.

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