The Colorectal Cancer Diagnostic And Treatment Market is expected to grow from US$18.201 billion in 2025 to US$22.463 billion in 2030, at a CAGR of 4.30%.
Colorectal cancer is cancer that starts either in the colon or the rectum. These can also be named either “colon cancer” or “rectal cancer”, depending on where they start. Cancer starts when there is abnormal cell proliferation, and this spreads to other parts of the body as well. The primary cause of the disease is the adoption of unhealthy lifestyle conditions, such as the consumption of processed meat and alcoholic drinks.
The rise of the ageing population, increased healthcare spending, growing disease prevalence, and increasing awareness in emerging economies are the driving factors. The United States in North America has the maximum disease prevalence and holds a significant market share in the global colorectal cancer diagnostic and treatment market.
The market is expected to surge in the coming years due to the increasing prevalence of colorectal cancer worldwide. According to the data given by GLOBOCAN 2020, there were an estimated 19.3 million new cancer cases worldwide in 2020. Colorectal cancer had a 10% share of total cancer cases. According to the data given by the World Cancer Research Fund, colorectal cancer is the third most common cancer worldwide. There have been over 1.8 million novel cases in 2019. Countries such as Hungary, South Korea, and Norway had the highest rates of colorectal cancer in 2019. The development of novel technologies and solutions intended to cure colorectal cancer is expected to play a major role in the market during the forecast period.
Major companies have been making significant developments in the market in the past few years. The rise in global investments and capital intended for the development of novel and advanced treatment and diagnostic solutions is expected to play a major role in the market’s growth in the coming years.
In September, it was announced that a novel drug had shown promise in slowing down the regrowth of tumours among colorectal patients. The trial of the drug was run by researchers at UCL in partnership and collaboration with the Universities of Oxford, Glasgow, Cardiff, and Leeds. The trial was conducted to see whether a drug known as adavosertib, which has been taken in the form of a daily pill, would be used to delay tumour regrowth among patients.
The European Commission announced in June 2021 that the Bristol-Myers Squibb Opdivo+Yervoy immunotherapy regimen had been approved for the treatment of various types of metastatic colorectal cancer patients. The approval had been given based on positive results from the BMS Phase 2 CheckMate-142 trial. According to the trial, around 64.7% of the respective patients responded positively to the treatment with Opdivo+Yervoy. This development is expected to have a positive impact on the market in the coming years.
In March 2020, the United States Food and Drug Administration announced that it had approved the biologics license application of Mylan, a Biocon partner, for further review. The application had sought initial approval of Mylan's drug for the treatment of patients with metastatic colorectal cancer, with the use of fluorouracil-based chemotherapy. The proposed drug and medicine are expected to be the third type from the respective partnered portfolio for the given cancer patients in the United States. The drug has also been available in India and other developing markets. This novel development is projected to enhance the market’s growth in the coming years.
There are several treatments available on the market. For instance, biopsy, colonoscopy, blood tests, and others are some of the diagnostic tests available. Adults aged 45 to 75 should be screened for colorectal cancer, according to the US Preventive Services Task Force. Colonoscopy has been widely used in the colorectal diagnostic market. The method has been similar and comparable to flexible sigmoidoscopy, except that in this, the doctors usually use a flexible, thin, long, and lighted tube for cancer or polyps inside the entire colon or rectum. There are several types of colonoscopy methods available on the market. Computed tomography for colonography, which is also known as virtual colonoscopy, usually uses computers and X-rays to produce overall images of the entire colon, which are then displayed on the respective computer screen for the given surgeon or doctor to analyze. Other methods are also available on the market. With the rise in the number of colon-rectal cases, the market is expected to surge at an exponential rate in the coming years.
Colorectal Cancer Diagnostic And Treatment Market Segmentation: