6 Key Estimations On Colorectal Cancer Diagnostics Market: Size, CAGR, Trends And Forecast 2017-22

Colorectal cancer diagnostics are a wide range of screening tests and diagnosis procedures that are employed before treating a patient with colon cancer. A typical diagnosis of colorectal cancer consists of tests such as colonoscopy, biopsy, blood sample testing, CT scan, ultrasound, MRI and molecular testing of the growing tumor.

A recent report by Fact.MR projects the global colorectal cancer diagnostics market to register an impressive expansion at 8.5% CAGR during the forecast period 2017 to 2022. Revenues from the global colorectal cancer diagnostics market is expected to surpass US$ 2,000 Mn by 2022-end.

Surging Unmet Requirements for Colorectal Cancer Diagnostics in Emerging Economies to Pave Growth Opportunities for Market Players

The emergence of new improved diagnosis tests, soaring uptakes of diagnosis-associated therapies, and increasing initiatives by private and government organisations are factors likely to fuel growth of the global colorectal cancer diagnostics market. Surging unmet requirements for colorectal cancer diagnostics around many emerging economies, along with the shortage of neoadjuvant as well as adjuvant pipeline agents for diagnosing high-risk patients suffering from resectable colorectal cancer is anticipated to pave tremendous growth opportunities for global leaders in the market. In contrast, factors such as rising patient reluctance against medications of colorectal cancer, and absence of awareness about therapeutics and diagnostics of colorectal cancer in many remote regions around the world is estimated to impede the market growth.

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6 Key Projections for the Global Colorectal Cancer Diagnostics Market

1- North America will continue to be the most lucrative region for the colorectal cancer diagnostics market. Revenue from market in North America is expected to surpass US$ 800 Mn by 2022-end.

2- The colorectal cancer diagnostics market in Asia Pacific excluding Japan (APEJ) is expected to register the fastest expansion during the forecast period. However, revenue from the market in Middle East & Africa (MEA) will continue to be sluggish during the forecast period.

3- By test type, FOB will continue to be the largest adopted test for diagnosis of colorectal cancer across the globe. Revenue from FOB tests for colorectal cancer diagnostics will remain largest, followed by CTC tests.

4- Immunochemistry tests for colorectal cancer diagnostics will exhibit the highest CAGR through 2022. However, revenue from BRAF tests will remain the lowest in the global colorectal cancer diagnostics market during the forecast period.

5- On the basis of end-users, although hospital-associated labs will remain sought-after in the market, cancer research institutes will continue to register the fastest expansion during the forecast period.

6- Revenues from hospital-associated labs for colorectal cancer diagnostics are expected to reach nearly US$ 1,000 Mn by 2022-end. Independent diagnostic laboratories will continue to be the second most lucrative end-users in the global colorectal cancer diagnostics market.

FOB Tests will Continue to Witness Largest Adoption for Colorectal Cancer Diagnostics

FOB tests will remain the largest adopted tests for colorectal cancer diagnostics across the globe. In addition, FOB tests in the global colorectal cancer diagnostics market will account for the largest revenues, followed by CTC tests. The immunochemistry tests will register the highest CAGR in the market through 2022. However, BRAF tests will account for the lowest revenues in the global market for colorectal cancer diagnostics throughout the forecast period.

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Based on end-users, even though hospital-associated labs are estimated to remain sought-after for colorectal cancer diagnostics, cancer research institutes will register the fastest expansion through 2022. Hospital-associated labs in the global colorectal cancer diagnostics market are estimated to account for nearly US$ 1,000 Mn in revenues by 2022-end. In addition, independent diagnostic laboratories will remain the second largest end-users of colorectal cancer diagnostics in the global market.

Competition Tracking

The report has also profiled prominent players in the global market for colorectal cancer diagnostics, which include Illumina, Inc, Sysmex Corporation, Danaher Corporation, Rosetta Genomics, Epigenomics AG, Exact Science Corporation, Pathway Genomics Corporation, Biocept, Inc., Cancer Genetics, Inc, and Foundation Medicine, Inc

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This release was published on openPR.