2024 Colorectal Cancer Molecular Diagnostics Market Report : Market Size, Growth Drivers, And Key Trends | Johnson & Johnson, Bayer AG, Abbott Laboratories, Danaher Corporation

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Colorectal Cancer Molecular Diagnostics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $3.48 billion In 2028 At A CAGR Of 8.0% :

The colorectal cancer molecular diagnostics market size has grown strongly in recent years. It will grow from $2.35 billion in 2023 to $2.56 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to increasing incidence of colorectal cancer, growing awareness and screening initiatives, rising emphasis on personalized medicine, government initiatives for cancer control..

The colorectal cancer molecular diagnostics market size is expected to see strong growth in the next few years. It will grow to $3.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to aging population and increased risk factors, integration of genomic data into clinical practice, rise in precision medicine approaches, global efforts in cancer research and collaboration.. Major trends in the forecast period include increasing emphasis on early detection biomarkers, integration of artificial intelligence (ai) in data analysis, rise of circulating tumor dna (ctdna) analysis, expansion of companion diagnostics for targeted therapies, focus on immunotherapy biomarkers..

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Colorectal Cancer Molecular Diagnostics Market Major Segments

Key Driver - Rising Incidence Of Inflammatory Bowel Diseases (IBD) Sparks Growth In Colorectal Cancer Molecular Diagnostic Market

The increasing incidence of inflammatory bowel diseases (IBD) is expected to propel the growth of the colorectal cancer molecular diagnostic market going forward. Inflammatory bowel diseases (IBD) are chronic gastrointestinal disorders characterized by digestive tract inflammation, primarily affecting the colon with symptoms like abdominal pain, diarrhea, and weight loss, managed through medications, lifestyle changes, and sometimes surgery. The increasing incidence of inflammatory bowel diseases fuels the demand for accurate, efficient, and advanced diagnostic solutions that play an essential role, as the determination of systemic therapy for colorectal cancer (CRC) predominantly relies on the result obtained from molecular assessment of the tumor. For instance, in May 2021, according to BioMed Central Ltd., a UK-based scientific open-access publisher, the number of inflammatory bowel disease (IBD) cases is projected to increase 2.5 times compared to 2020, with approximately 69,000 cases in Iran, 220,000 cases in the Middle East, 2.2 million cases in India, and a significant 4.5 million cases in East Asia during 2020-2035. Therefore, increasing incidences of inflammatory bowel diseases (IBD) will drive the growth of the colorectal cancer molecular diagnostic market.

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Prominent Trend - Innovative Molecular Diagnostics And Personalized Medicine Solutions In Colorectal Cancer Guardant Health's Shield Blood Test

Major companies operating in the colorectal cancer molecular diagnostic market focus on developing innovative molecular diagnostics and personalized medicine solutions, such as the shield blood test approach to identify colorectal cancer at an earlier, more treatable stage. Shield Blood Test, an initial blood test designed to identify early-stage colorectal cancer (CRC). For instance, in May 2022, Guardant Health, a US-based biotechnology company offering oncology molecular diagnostic products, launched its Shield Blood Test. The susceptible shield test provides a convenient screening option that involves a simple blood draw to address challenges related to patients' willingness to get screened. The test showed a sensitivity of 91% for detecting colorectal cancer and 20% for detecting advanced adenomas, and the specificity was measured at 92%. The Shield test identifies early colorectal cancer signals in the blood by utilizing data from diverse cohorts of over 2,000 subjects with colorectal cancer, 357 with advanced adenoma, and 3,757 normal subjects.

Colorectal Cancer Molecular Diagnostics Market Players
Major companies operating in the colorectal cancer molecular diagnostics market report are Johnson & Johnson, Bayer AG, Abbott Laboratories, Danaher Corporation, Becton Dickinson and Company, Biocartis Group NV, Agilent Technologies Inc., Grifols S.A, Hologic Inc., Biomérieux SA, Quidel Corporation, Bio-Rad Laboratories Inc., Qiagen N.V., Exact Sciences Corporation, Illumina Inc., Cepheid, Myriad Genetics Inc., Guardant Health, Luminex Corporation, GenMark Diagnostics, Amoy Diagnostics Co. Ltd., MDxHealth Inc., HTG Molecular Diagnostics Inc., GenPath Diagnostics, geneOmbio Technologies Pvt.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the colorectal cancer molecular diagnostics market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the colorectal cancer molecular diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Colorectal Cancer Molecular Diagnostics Market Report Structure
3. Colorectal Cancer Molecular Diagnostics Market Trends And Strategies
4. Colorectal Cancer Molecular Diagnostics Market - Macro Economic Scenario
5. Colorectal Cancer Molecular Diagnostics Market Size And Growth
…..
27. Colorectal Cancer Molecular Diagnostics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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