Pune, Oct. 07, 2020 (GLOBE NEWSWIRE) -- The stool-based test segment is expected to acquire a significant percentage of global colorectal cancer screening market share during the forecast period. This is because patients prefer it more due to its cost-effective nature and hassle-free procedure. It is hence, used the most as a primary screening test.
This information is published in an upcoming report by Fortune Business Insights, titled, “Colorectal Cancer Screening Market Size, Share and Global Trend By Test Type (Stool-based tests, Colonoscopy, CT Colonography, Flexible Sigmoidoscopy, Others), By End User (Hospitals, Specialty Clinics, Ambulatory Surgery Centres, Diagnostic Centers, Others) and Geography Forecast till 2026.”
The report on global colorectal cancer screening market provides an elaborate analysis that includes an in-depth summary, scope of the market, and definition. The colorectal cancer screening market is segmented on the bases of test type, end-user, and geography. The report further focuses on growth driver and opportunities, including strategic collaborations, innovative product launches, agreements, joint ventures, and major key players based on region. It offers significant insights to manufacturers, readers, stakeholders, suppliers, service providers, and distributors for evaluating the colorectal cancer screening market.
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Key Industry Developments:
- In March 2019, Olympus Corporation announced the company’s support for “National Colorectal Cancer (CRC) Awareness” through sponsoring certain colonoscopies, sponsoring Colorectal Cancer Alliances' "Big Colon Tour", and many others.
- In October 2018, Metabolomic Technologies Inc. launched worth $1.4 Mn project for the evaluation of screening strategy for colorectal cancer using PolypDx, a urine test for the prevention and diagnosis of colorectal cancer.
- In August 2018, Exact Sciences Corporation partnered with Pfizer Inc., for the co-promotion of COLOGUARD, a non-invasive FDA approved stool DNA test for detection of colorectal cancer.
- In February 2015, Novigenix SA acquired a molecular-based blood test for colorectal cancer named Colox Test from Diagnoplex SA for the expansion of Colox in Switzerland and rest of Europe.
Highlights of the Report:
- Analysis of the impact of Covid-19 that the market would face in the near future.
- In-depth analysis of the growth drivers and obstacles.
- Profile of all the companies operating in the market.
- Elaborate data about the dominating region.
- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
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Awareness Programs Launched by Government Regarding Early Detection to Boost Growth
According to the report, increasing incidence of colorectal cancer has led to a rise in the demand for efficient diagnostic techniques. Combined with this, the advent of cytogenetics, in-vitro diagnosis, and molecular diagnosis have further augmented the process of the colorectal cancer detection process.
Several private and government organizations are conducting awareness campaigns to inform the populaces regarding colonoscopies and early detection of colorectal cancer. All these factors are expected to escalate the global colorectal cancer screening market sales during the forthcoming years.
Increasing Patient Pool and Rising Research and Development to Favor Growth in Asia Pacific
The global colorectal cancer screening market is geographically divided by Europe, Latin America, the Middle East and Africa, Asia Pacific, and North America. Out of these, North America is anticipated to lead the global colorectal cancer screening market in the forthcoming years.
The growth is attributed to a rise in the demand for molecular diagnosis techniques as well as the growing guidelines put forth by the government for diagnosis. The American Cancer Society declared that approximately 44,180 new cases of rectal cancer and 101,420 cases of colon cancer are projected to be diagnosed in the U.S. in the year 2019. It will, in turn, impact the global colorectal cancer screening market growth positively in the coming years.
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Olympus and Metabolomic Technologies Focus on Strategic Investments to Gain Competitive Edge
Olympus Corporation, a manufacturer of optics and reprography products, headquartered in Japan, announced that it is supporting the promotion of National Colorectal Cancer (CRC) Awareness in March 2019. The company is doing so by sponsoring the Colon Cancer Coalition’s “Get Your Rear in Gear” 5K run/walk, the Colorectal Cancer Alliances’ “Big Colon Tour,” and by educating the patients via colonoscopytoday.com.
Metabolomic Technologies Inc., a developer of innovative metabolomics-based diagnostics, announced in October 2018 that it launched a project worth $1.4 million. It was undertaken to evaluate a modern colorectal cancer screening strategy by utilizing its only urine test called PolypDx. The project will engage patients, expert physicians, laboratory specialists, and clinicians in analyzing colorectal cancer screening in approximately 3000 patients in and around Alberta, Canada.
Fortune Business Insights has profiled some of the prominent market players operating in the global colorectal cancer screening market. They are as follows:
- Exact Sciences Corp.
- Eiken Chemical
- Alere Inc
- Hemosure
- Epigenomics AG
- Clinical Genomics
- Novigenix SA
- Beckman Coulter
- Quidel Corporation
- Sysmex Corporation
- Abbott
- Other key market players
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Segmentation of the Global Colorectal Cancer Screening Market:
By Test Type
• Stool-based tests
• Colonoscopy
• CT Colonography
• Flexible Sigmoidoscopy
• Others
By End User
• Hospitals
• Specialty Clinics
• Ambulatory Surgery Centres
• Diagnostic Centers
• Others
By Geography
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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