A myriad of factors is responsible for the overall development of the global in-vitro colorectal cancer screening tests market. In recent years, there have been several cases of people suffering from rectal and colon cancer. It has emerged to be a key driving factor for the overall development of the global market in recent years. In addition to this, in the past few years, introduction of new screening tests that use genetic testing has also helped in fueling the development of the global market. Furthermore, the introduction of regulatory and governmental mandates with an objective to make cancer screening tests compulsory has also helped in the driving the growth of the market.
In the past few years, the global healthcare sector has witness tremendous growth and innovations. Technological developments, launch of novel screening tests for colorectal cancer have also helped in market development. These new tests involve use of genetic and DNA biomarkers and have higher efficiency and accuracy. Naturally, people are now more inclined towards undergoing these in-vitro colorectal cancer screening tests and thus, there is a rising adoption of the market.
Across the globe, colorectal cancer is the third most common form of cancer. Colorectal cancer accounts for nearly a tenth of all the cancer related casualties across the globe. The prevalence of this type of cancer has growth in the past couple of years. In addition to this, launch of new colorectal tests that make use of biomarkers such as tumor M2-PK marker or the ones that can screen for colorectal cancer with the help of methylated genes. Such developments too are projected to drive the market to newer heights in the coming years of the forecast period. With the increasing accuracy and efficiency of screening, it is expected that more and more number such tests will be performed in coming years.
Global In-vitro Colorectal Cancer Screening Tests Market: Snapshot
Diagnostic tools have undergone a sea change in the recent decades, owing to the rapidly growing demand for non-invasive diagnostics that are efficient as well as fast. Compliance with these demands ensures that the tools provide a relatively higher ease of operation and also promote better patient compliance and test results. They are also a lot easier to use for medical professionals and do not restrict a patient to any dietary compulsions. The growing number of non-invasive surgical and diagnostic tools is therefore, a massive boon to the growth of the global market for in-vitro colorectal cancer screening testing.
Another factor that promotes this market’s growth is the growing prevalence of syndromes and diseases that are inherited. A rise in their number directly implies an increasing demand for testing procedures for diseases such as cancer.
The in-vitro colorectal cancer screening testing companies, however, have to go through a highly stringent set of regulations to be able to make their products and tests available for use. The high amount of regulatory pressure not only complicates matters for key players, but also makes it difficult for new entrants to penetrate the market.
Owing to such factors, the global market for in-vitro colorectal cancer screening testing is expected to reach a revenue of US$602.3 mn by the end of 2016 and US$980.6 mn by 2023. It is expected to progress at a CAGR of 7.5% from 2015 to 2023.
North America Demand for In-vitro Colorectal Cancer Screening Testing to Remain Highest
By the end of 2023, North America is expected to generate revenues of US$316.7 mn from in-vitro colorectal cancer screening testing. As per the findings released by the American Cancer Society, in 2015 more than 93,000 new cases of colon cancer and more than 39,000 cases of rectal cancer were diagnosed in the U.S. alone. The North American region also holds one of the largest population pools of elderly citizens, a demographic that is very prone to such diseases. These are the key reasons for the high demand for in-vitro colorectal cancer screening testing shown by the region.
Meanwhile, the demand for in-vitro colorectal cancer screening testing is expected to increase at a very high rate in Europe, owing to the increasing number of the elderly and the growing availability of advanced and automated diagnostic tools and techniques.
Fecal Occult Blood Tests to Continue Taking up Sizeable Shares in Revenue
By the end of 2023, US$567.7 mn is expected to be generated within the test segment of fecal occult blood testing. Colorectal cancer – considered as the third largest cancer related cause of death by the ACS – can be diagnosed through fecal occult blood tests, blood biomarker tests, and stool biomarker tests. Of these, fecal occult blood (FOB) testing has been the most commonly used diagnostic measure, owing to its older presence in the healthcare industry coupled with its lower price than modern means. Guaiac FOB stool tests have been the most popular FOB tests used across the globe so far. On the other hand, the demand for blood biomarker tests is expected to increase at the highest rate till 2023, owing to the rapidly growing preference for tests such as the Epi proColon test.
The key providers of in-vitro colorectal cancer screening testing are Beckman Coulter, Inc., Sysmex Corporation, Alere, Inc., Abbott Molecular, Inc., Quest Diagnostics, Inc., and Biotime, Inc.
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Chapter 1 Preface
1.1 Report Description
1.2 Market Segmentation
1.3 Research Methodology
Chapter 2 Executive Summary
2.1 Global In-vitro Colorectal Cancer Screening Tests Market, Estimates and Forecast, By Revenue, 2015–2023 (US$ Mn)
2.2 Global Market Share by Geography, 2014 and 2023
2.3 Global In-vitro Colorectal Cancer Screening Tests Market, by Test Type 2014 (US$ Mn)
2.4 In-vitro Colorectal Cancer Screening Tests Market Snapshot
Chapter 3 In-vitro Colorectal Cancer Screening Tests Market– Industry Analysis
3.2 Epidemiology – In-vitro Colorectal Cancer Screening
3.3 Market Drivers
3.3.1 Increase in demand for rapid and non-invasive diagnostic tools and techniques
3.3.2 High prevalence of inherited syndromes, diabetes, and others
3.3.3 Increased awareness of colorectal cancer and health care expenditure globally
3.4.1 Stringent and ambiguous regulatory environment
3.4.2 Reimbursement challenges
3.5.1 Shift from invasive to non-invasive diagnostic techniques
3.5.2 Increase in new technology in molecular-based diagnostic tests
3.6 Porter’s Five Forces Analysis
3.7 Event Impact Analysis – In-Vitro Colorectal Cancer Screening Tests Market
3.8 Market Share – In-Vitro Colorectal Cancer Screening Tests Market (2014) (%)
3.9 Market Attractiveness Analysis – In-Vitro Colorectal Cancer Screening Tests Market
Chapter 4 Market Segmentation – By Tests Type
4.2 Global Fecal Occult Blood Tests Market , 2015–2023 (US$ Mn)
4.2.1 Global Guaiac FOB Stool Test Market, 2015–2023 (US$ Mn)
4.2.2 Global Immuno-FOB Agglutination Test Market, 2015–2023 (US$ Mn)
4.2.3 Lateral Flow Immuno-FOB Test Market, 2015-2023(US$ Mn)
4.2.4 Immuno-FOB ELISA Test Market, 2015-2023(US$ Mn)
4.3 Stool Biomarker Tests Market , 2015–2023 (US$ Mn)
4.3.1 ColoGuard Test Market, 2015–2023 (US$ Mn)
4.3.2 M2-PK Stool Test Market, 2015–2023 (US$ Mn)
4.3.3 Other Tests Market, 2015–2023 (US$ Mn)
4.4 Blood Biomarker Tests Market, 2015–2023 (US$ Mn)
4.4.1 ColonSentry Test Market, 2015–2023 (US$ Mn)
4.4.2 ColoVantage Test Market, 2015–2023 (US$ Mn)
4.4.3 Epi proColon Test Market, 2015–2023 (US$ Mn)
4.4.4 mS9 Test Market, 2015–2023 (US$ Mn)
4.4.4 Other tests Market, 2015–2023 (US$ Mn)
Chapter 5 Pipeline Analysis
5.1 Pipeline Analysis In-Vitro Colorectal Cancer Screening Market
Chapter 6 Market Segmentation – Regional Analysis
6.1 Regional Overview – In-vitro Colorectal Cancer Screening Tests Market
6.2 North America In-vitro Colorectal Cancer Screening Tests Market, 2015–2023 (US$ Mn)
6.3 Europe In-vitro Colorectal Cancer Screening Tests Market 2015–2023 (US$ Mn)
6.4 Asia Pacific In-vitro Colorectal Cancer Screening Tests Market 2015–2023 (US$ Mn)
6.5 Latin America In-vitro Colorectal Cancer Screening Tests Market 2015–2023 (US$ Mn)
6.6 RoW In-vitro Colorectal Cancer Screening Tests Market 2015–2023 (US$ Mn)
Chapter 7 Recommendations
Chapter 8 Company Profiles
8.1 Abbott Laboratories, Inc.
8.2 Alere, Inc.
8.3 Beckman Coulter, Inc.
8.4 Sysmex Corporation
8.5 Quest Diagnostics, Inc
8.6 Epigenomics AG
8.7 Exact Sciences Corporation
8.8 BioTime, Inc.
8.9 CML Healthcare, Inc.
8.10 Novigenix SA
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