Colorectal Cancer Diagnostics Market Growth Global Industry Size, Recent Trends, Demand and Share Estimation

The Colorectal Cancer Diagnostics Market size is expected to grow from US$ 10,374.68 million in 2022 to US$ 16,996.48 million by 2028; it is estimated to record a CAGR of 8.7% from 2023 to 2028.

The colorectal cancer diagnostics market growth is attributed to the increasing prevalence of colorectal cancer and launches of new product.

Colorectal cancer diagnostics refers to the tools, kits, and test performed on an individual to diagnose colorectal cancer in an individual. This involves series of non-invasive and invasive test to confirm the cancer and its stage based on which the treatment is provided to the patient.

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Analysis of the Top Market Players:

1. Medtronic Plc
2. Illumina Inc
3. Clinical Genomics Technologies Pty Ltd
4. EDP Biotech Corp
5. Epigenomics AG
6. F. Hoffmann-La Roche Ltd
7. Quest Diagnostics Inc
8. Novigenix SA
9. Siemens Healthineers AG
10. Bruker Corp
11. Eiken Chemical Co., Ltd.

In this report, the market has been segmented on the basis of:

Modality [Imaging Tests (Colonoscopy, CT Colonography, Flexible Sigmoidoscopy, Capsule Endoscopy, and Others)
Stool Based Tests [Faecal Immunochemical Test (FIT)
Guaiac-based Faecal Occult Blood Test (gFOBT), and Stool DNA Test)]
End User (Hospitals, Diagnostic Laboratories, Cancer Research Institutes, and Others)

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March is marked as the National Colorectal Awareness Month in the US. It is dedicated to encouraging patients, survivors, and caregivers to share their stories, advocate for colorectal cancer prevention, and inform others about the importance of early detection. In 2019, the Health Colorectal Cancer Awareness Campaign was launched at the University of California (UCLA) as the first system-wide cancer awareness and prevention effort. The campaign is run as a health leadership commitment to increase awareness about colorectal cancer screening and other related aspects in the UCLA health patient and staff communities, and in medically underserved populations in the greater Los Angeles area.

This multifaceted campaign includes public awareness events, Dress in Blue Day, patient and provider education, patient-directed educational videos, community lectures, radio and media appearances, employee wellness and nutrition sessions, and social media promotions. The campaign format was changed slightly in March 2020 due to the COVID-19 pandemic; it provided virtual screening and awareness messages and evolved to include a stronger focus on stool testing to allow patients access to home screening. Owing to such efforts, awareness of colorectal cancer screening is rising in the US, and the screening rates have reached 60% of the country's population which in turn driving the colorectal cancer diagnostics market growth.

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