The Colorectal Cancer market was valued at US$ 16,339.9 million in 2018 and it is projected to reach US$ 22,953.8 million by 2027; it is expected to grow at a CAGR of 4.0% from 2019 to 2027.
Colorectal cancer is also known as bowel cancer, colon cancer, or rectal cancer. This type of cancer is the second leading cause of death in women and third in men. Colorectal cancer may be benign, or non-cancerous, or malignant. The symptoms shown by the patients who have colon cancer include changes in bowel habits, diarrhea or constipation, blood in stools that make it look black. Colorectal cancer can be treated with chemotherapy, radiotherapy, and surgery. The growth of the Colorectal Cancer in healthcare market is attributed to the increasing prevalence of colorectal cancer, new product launches and benefits offered by generic drugs are boosting the market over the years. Also, the growing pharmaceutical industry emerging markets in developing countries are likely to have a positive impact on the growth of the market in the coming years.
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The Prominent/Emerging Players in the Colorectal Cancer market includes:
The leading companies operating in the colorectal cancer market include Epigenomics AG, Novigenix SA, Clinical Genomics Technologies Pty Ltd., EDP Biotech Corporation, Volitionrx Limited, Abbott Laboratories, Amgen Inc., F. Hoffmann-La Roche AG, Bruker Corporation, Quest Diagnostics Incorporated, Natera, Inc., and Guardant Health, Inc among others. The market has observed various organic as well as inorganic developments during recent years in the colorectal cancer market. For instance, in October, 2019, Novigenix announced that Helsana, the leading health insurance provider in Switzerland has approved offering coverage for reimbursement for the Colox, a liquid biopsy test for early detection of colorectal cancer.
Colorectal Cancer market Segmentation
The global colorectal cancer market, based on the modality, is segmented into diagnosis type, therapy type, and imaging type. In 2018, the diagnosis type segment held the largest market share of the colorectal cancer market. This segment is also projected to dominate the market in 2027 as it emphasizes the need for early recognition of neoplasms, or in the asymptomatic or pre-cancerous stage.
Regional Analysis of Global Colorectal Cancer Market
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Colorectal Cancer market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Impact of Covid-19 On Colorectal Cancer Market
COVID-19 began in Wuhan (China) in December 2019, and till now, it has spread across the globe at a swift pace. The US, India, Italy, Brazil, Russia, the UK, France, and Spain are some of the worst affected countries that have confirmed cases and reported deaths. The pandemic has affected economies and industries in various countries due to lockdowns and business shutdowns. The shutdown of different plants and factories affected the worldwide supply chains and impacted the Colorectal Cancer market’s manufacturing and sales of products. Few companies have already announced delays in their product deliveries and a slump in future sales. Hence, owing to the above-mentioned factors, the pandemic has decreased the growth of the market in the forecast period.
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