Colorectal Cancer Market to Garner USD 22,953.8 million, Globally, by 2027 at 4.0% CAGR: The Insight Partners

According to new market research titled 'Colorectal Cancer Market to 2027 - Global Analysis and Forecasts by modality, and end user.' The global colorectal cancer market is anticipated to reach US$ 22,953.8 Mn in 2027 from US$ 16,339.9 Mn in 2018. The market is anticipated to grow with a CAGR of 4.0% from 2019-2027. The report provides the trends prevailing in the global colorectal cancer market and the factors driving the market along with those that act as hindrances.

Colorectal cancer is one of the commonly found and lethal cancers which is developed in an individual with the combined influence of genetic and environmental factors. Additionally, according to the World Health Organization (WHO), colorectal cancer was the third most prevalent form of cancers, with approximately 1.80 million cases around the world in 2018, excluding skin cancer. The rates of colorectal cancer mortality and incidence vary across the globe as per the reports by WHO's cancer database GLOBOCAN. The GLOBOCAN reports approximately 861,000 deaths in 2018 due to colorectal cancer.
The colorectal cancer is found among the significant population in the North American regions. For instance, according to the Centers for Disease Control and Prevention (CDC) and American Cancer Society, an estimated 145,600 adults in the United States were diagnosed, and 51,020 deaths were reported with colorectal cancer in 2018.

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Moreover, in September, 2017, EDP Biotech Corporation announced that it has received patent for U.S. Patent and Trademark Office for its CA11-19 Biomarker which assist is detecting colorectal cancer. Receiving patent for biomarker was a major milestone for the company. And it helped in commercializing ColoMarker, a blood based diagnostic assay for the detection of early stage colorectal cancer. Thus, product approval, launch, and others are expected to propel the growth of colorectal cancer market over the forecast years.

The global colorectal cancer market, based on modality, was segmented as diagnosis type, therapy type, and imaging type. In 2018, the diagnosis type segment held the largest market share of the colorectal cancer market by application. This segment is also projected to dominate the market in 2027, because it helps in early recognition which is essential in patients with acute symptoms and adverse course of the disease. This market segment is also expected to grow at a significant rate in the forecast period 2019 to 2027.

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 different organic and inorganic advancements during recent years in the colorectal cancer market. For instance, in January 2019, Guardant Health, Inc. announced it has launched LUNAR assay, which is a blood-based assay intended to detect early-stage cancer and recurrence of disease. The product is launched for the biopharmaceutical and academic researchers.

The report segments the global colorectal cancer market as follows:

Global Colorectal Cancer Market - By Type
Diagnosis Type
Therapy Type
Imaging Type

Global Colorectal Cancer Market - By End User
Hospitals
Diagnostic and Research Laboratories

Global Colorectal cancer market - By Geography

North America
US
Canada
Mexico

Europe
France
Germany
U.K
Spain
Italy

Asia Pacific (APAC)
China
India
Japan
Australia
South Korea

Middle East & Africa (MEA)
Saudi Arabia
U.A.E
South Africa

South & Central America
Brazil
Argentina

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