Colorectal cancer is cancer that starts in the colon or rectum. The colon and the rectum are parts of the large intestine, which is the lower part of the body’s digestive system. The colon absorbs water and nutrients from the food and stores waste matter (stool). Stool moves from the colon into the rectum before it leaves the body. Colorectal cancer often begins as a growth called a polyp, which may form on the inner wall of the colon or rectum. Some polyps become cancer over time. Finding and removing polyps can prevent colorectal cancer. During digestion, food moves through the stomach and small intestine into the colon. Most colorectal cancers are adenocarcinomas (cancers that begin in cells that make and release mucus and other fluids). Some of the commonly seen symptoms of colorectal cancer are blood in the weight loss, fatigue, stool, and irregular bowel movements. Colorectal cancer is a result of uncontrolled cell growth that occurs in the appendix, colon, and the rectum region.
According to American Cancer Society, in United States when men and women are considered individually colorectal cancer is the third prominent cause of cancer-related mortality, and the second prominent cause when both sexes are combined. With the use of fecal occult blood tests and colonoscopies, which check for blood in the stool the deaths from colorectal cancer have decreased. Ageing, fatty diet, excessive consumption of red meat or alcohol, male gender, obesity, smoking are the most commonly observed causes for colorectal cancer. Most colorectal cancers originate as a polyp, a growth in the tissue that lines the internal surface of the rectum or colon and it is common in people older than 50 years of age, and most are not cancer.
The global market for colorectal cancer market is segmented on basis of treatment options, Colorectal Cancer Stage, end user and geography:
- Segmentation by Diagnosis
- Fecal Occult Blood Tests
- Stool DNA test
- Virtual Colonoscopy
- Double-contrast Barium Enema
- Segmentation by Treatment Options
- Radiation therapy
- Targeted therapy
- Segmentation by Colorectal Cancer Stage
- Stage 0
- Stage I
- Stage II
- Stage III
- Stage IV (Metastatic)
Increasing adoption of western diet which are high in fat and low in fiber is expected to boost the growth of colorectal cancer market over the forecast period. Based on diagnosis, colorectal cancer are classified as fecal occult blood tests, stool DNA test, sigmoidoscopy, colonoscopy, virtual colonoscopy, double-contrast barium enema, others.
Based on treatment option, colorectal cancer are classified as surgery, radiation therapy, chemotherapy and targeted therapy. Surgery remains the most effective treatment for colorectal cancer. Radiation therapy reduces the chance of cancer spread or recurrence and is effective as additional or adjuvant therapy either before or after surgery. The segment is expected to grow rapidly over the forecast period due to increasing technological advancement and increasing awareness.
Based on colorectal cancer stage, colorectal cancer has been segmented into stage 0, stage I, stage II, stage III, and stage IV (metastatic). According to National Cancer Institute, in 2016, an estimated 134,490 people in the United States will be diagnosed with colorectal cancer and 49,190 people will die from it. In general, stages 0, I, II, and III are often curable with surgery. Patients with stage II and III rectal cancer receives radiation therapy with chemotherapy either before or after surgery. Patients with stage III colorectal cancer, and some with stage II, receive chemotherapy after surgery to increase the chance of eliminating the disease. Stage IV is not often curable, but it effects can be reduced, and the growth of the cancer and the symptoms of the disease can be managed.
On the basis of regional presence, global colorectal cancer market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to lead the global colorectal cancer market for due to aging population. Due to increase in screening of colorectal cancer and changes in some risk factors such as a decline in smoking and consumption of alcohol is decreasing the rate of new colorectal cancer cases and deaths among adults aged 50 years and above.
Some of the major players in global colorectal cancer market are Hoffmann La Roche, Debiopharm Group, Merck KGaA, Vaccinogen BD, AEterna Zentaris, and Keryx Biopharmaceuticals, Inc., etc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.