Mar 08, 2021 (The Expresswire) -- Global “ Colorectal Cancer Screening Market ” Report 2021 contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, rate of growth, and key regions. The Colorectal Cancer Screening market growth is predicted to register a CAGR of 4.38% during the forecast period. Colorectal Cancer Screening Market reports offer an in-depth assessment of the Colorectal Cancer Screening including enabling technologies, current market scenario, market assumptions, restraining factors.
"Final Report will add the analysis of the impact of COVID-19 on the Colorectal Cancer Screening industry."
The report considers the revenue generated from the sales of this report and technologies by various application segments like an extensive assessment of key drivers, driving business players, key portions, and areas. Aside from this, the specialists have profoundly considered distinctive geological territories and introduced a significant situation to assist new participants, driving business players, and speculators to make a decision developing economies.
Colorectal Cancer Screening Market Report covers the Top Key-players 2021:-
● ALERE INC ● CLINICAL GENOMICS ● BECKMAN COULTER ● ABBOTT LABORATORIES ● EXACT SCIENCES CORP ● HEMOSURE ● EIKEN CHEMICAL ● QUIDEL CORPORATION ● NOVIGENIX SA ● SYSMEX CORPORATION ● EPIGENOMICS AG
The global Colorectal Cancer Screening market covers the vision of competitor analysis by product types, market share, applications, sales, and revenue.
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The global market for colorectal cancer screening has been estimated at USD 727.08 million for 2017. The market is expected to register a CAGR of 4.38% during the forecast period, 2018 to 2023. Asia-Pacific is expected to have a substantial growth in the forecast period.
The Advent of Efficacious Genetic Tests
Genetic testing for colon cancer creates better opportunity for early diagnosis. It is highly recommended by the medical community. Screening for the mutations that cause colon cancer is only beginning to be done outside the research labs. If these medical screenings are implemented, then the number of colon cancer cases found in the early stages would increase. Also, gene therapies to alter these mutations is likely to be developed. The increasing awareness about genetic screening methods and advantages in undergoing the testânot for early detection and treatment but also for removal of precancerous cells, which is much cheaper than the usual run of chemotherapyâis driving the market.
Additionally, increase in prevalence population, potential product pipeline and increasing cancer prevention initiatives are also fuelling global colorectal cancer screening market.
High Screening Tests Cost
Many high-income countries, including the United Kingdom and the United States, are facing the challenge of providing care to an ever-increasing population of patients with cancer, owing to expensive screening and treatment. Though the CRC screening tests have potential for early disease detection, they are seldom used. The high cost of these tests is hindering the market growth. The spending associated with a CRC diagnosis increases quickly, even if one has insurance. Although many private insurance plans cover the costs for colonoscopy as a screening test, patients still might be charged for some services, which is again a burden. Not all screening test costs are covered by insurance companies; e.g.: Medicare does not cover the cost of virtual colonoscopy (CT colonography, which is more expensive than colonoscopy).
In addition, inadequate healthcare access in developing countries and lack of screening guidelines in Asia-Pacific is restraining the Global Colorectal Cancer Screening Market.
North America to Dominate the Market
The Global Colorectal Cancer Screening Tests Market is segmented into by test type which is further segmented into Guaiac fecal occult blood test, fecal immunochemical, stool DNA and others. By geography it is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and South America.
North America is dominating the Colorectal Cancer Screening Tests Market due to high incidences of colorectal cancer and rise of the geriatric population in the North American region. Colon cancer is reported to be Americaâs second deadliest cancer with 50,000 deaths, annually, followed by lung cancer. Rising incidence of colorectal cancer is driving the market in the United States; approximately 1, 44,000 cases of colorectal cancer were found in 2015 in the country and 1, 60, 000 new cases for colorectal cancer are expected to occur by 2020. This increase in the disease occurrence will eventually increase the demand for colorectal cancer screening procedures.
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Finally, the report Global Colorectal Cancer Screening Market 2021 describes the Colorectal Cancer Screening industry expansion game plan, the Colorectal Cancer Screening industry knowledge supply, appendix, analysis findings, and the conclusion.