Colorectal Cancer Market Share, Size, Trends, Industry Analysis Report, By Treatment (Radiation Therapy, Targeted therapy, Chemotherapy, Immunotherapy, Surgery, Embolization, Others); By End-Use; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 118
- Format: PDF
- Report ID: PM1322
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global colorectal cancer market was valued at USD 1.90 billion in 2023 and is expected to grow at a CAGR of 4.7% during the forecast period. Colorectal cancer occurs due to uncontrolled cell development in the appendix, colon, and rectum area. Colon cancer and rectum cancer are combined because of their similarity. Polyps, growths on the rectum or colon's inner lining, are the precursor of colorectal cancer. Only certain polyps have a chance of turning into cancer.
The research report offers a quantitative and qualitative analysis of the Colorectal Cancer Market to enable effective decision-making. It covers the key trends and growth opportunities anticipated to have a favorable impact on the market. Besides, the study covers segment and regional revenue forecasts for market assessment.
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Blood in the stool, weight loss, exhaustion, and irregular bowel movements are typical signs of colorectal cancer. A biopsy is used to diagnose the disease, and then medical imaging is used to determine its extent. Depending on the stage and the extent of cancer's spread, most physicians advise combining radiation treatment, chemotherapy, and targeted therapy.
Despite significant advancements in science and technology, cancer still threatens lives everywhere. The third most frequent cancer, colorectal cancer, is quickly becoming a terrible reality for many people.
Colorectal cancer has unidentified roots. However, several genetic and environmental components might raise the chances of having the disorder. The American Cancer Society estimates that 1 in 23 women and 1 in 21 men will acquire CRC in the United States over their lifetime. Nevertheless, with improved screening, diagnosis, and treatment methods, the incidence of CRC has been reducing over the past few years.
The COVID-19 outbreak resulted in a slower growth rate for the colorectal cancer market, particularly in the first half of 2020. The lockdown and travel restrictions caused supply chain hiccups. All medical operations are put off, except those involving emergencies, because doctors are battling COVID-19 on the front lines. The pandemic reveals significant symptoms in those with chronic illnesses. This resulted in fewer individuals visiting hospitals to prevent contracting the infection. Following the unlocking of the parameters in the last months of 2020, all operations were resumed while taking safety precautions.
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Industry Dynamics
Growth Drivers
Surgery, radiation therapy, chemotherapy, immunotherapy, and targeted therapy are the main treatment for colon and malignant rectal growth. Two or more therapies may be combined or administered one after the other, depending on the stage of cancer. The growing prevalence of cancer cases propels market expansion as a consequence of more stringent healthcare laws and higher healthcare expenditures.
According to Cancer.org, there is a 1 in a 23-lifetime chance for males and a 1 in 25 lifetime risk for women of acquiring colorectal cancer. In comparison to men, women are slightly less at risk. The second most common disease in women and the third most common disease in males is colorectal cancer. In 2018, there were around 1.8 million new cases. 90% of those with late-stage colorectal harmful development continue to do so after five years. Approximately 39% of patients are examined in this preliminary stage. The 5-year endurance rate is 71% if the malignant tumor has migrated to nearby lymph nodes, surrounding tissues, or organs.
The third most common cancer in the US, after skin-related cancers, is colon cancer. The American Cancer Society estimates that in the United States, in 2021, there will be 104,270 new cases of colon cancer and 45,230 new cases of rectal cancer. The cancerous part of the colon is removed during a colectomy. Colectomies were done in 300,000 cases in 2019; the number is expected to rise in the future years.
Report Segmentation
The market is primarily segmented based on treatment, end-use, and region.
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By Treatment |
By End-Use |
By Region |
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Chemotherapy is Predicted to Have a Significant Impact
Chemotherapy is predicted to have a significant impact on the global market over the forecast period. The most popular treatment for colorectal cancer is chemotherapy. Typically, cancer medications are administered orally or by injection into a vein, which allows the chemicals to move immediately through the circulation to target body areas. But the development of resistance, harsh side effects, and a lack of selectivity are expected to limit its expansion in this segment.
Targeted treatments are predicted to have a considerable market share, mostly because they have a remarkable success rate of up to 80% compared to chemotherapy's 30%. It is compared to a sniper since it kills its target without harming healthy cells and carries out vital life-saving tasks. It is a complex and successful method of cancer treatment. But it might also cause severe, uncommon adverse effects like colon perforation, sluggish wound healing, blood clots, renal issues, excessive bleeding, and heart issues.
Hospitals are a Prominent Market Share Contributor
The hospital industry occupies a higher share of the market. Patients with a wide range of illnesses and problems are given thorough medical treatment and services by the hospital. Hospitals now provide patients with improved services, and numerous folks walk in for diagnostics, whereas large numbers of patients are hospitalized for treatment. The majority of the newly admitted patients already have a few illnesses. Therefore, hospitals are a prominent market share contributor to the global colorectal cancer market.
The inspection of the body's tissues, organs, and functions is required by many emergency and treatment facilities, and it may be done precisely with the use of magnetic resonance imaging, CT, and X-ray. Due to ongoing patient care and monitoring, hospitals now host the majority of operations. Since hospitals are the people's principal healthcare facilities, they are projected to fuel the end-user segment's expansion. Therefore, as a result of all the aforementioned factors, the hospital sector of the worldwide colorectal cancer market is anticipated to develop over the next few years.
North America Dominated the Global Market in 2022
North America dominates the market. Due to rising colorectal cancer rates, improved healthcare infrastructure, supportive government policies, a sizable population of multinational corporations, and high public awareness of diagnostic testing and medical devices.
According to the American Cancer Society, colorectal cancer is the third most frequent kind of cancer to be diagnosed in both men and women in the US. In 2021, there were 104,270 new cases of colon cancer and 45,230 new cases of rectal cancer. For men, the lifetime probability of being diagnosed with colorectal cancer is one in 22, or -5%. Similar to males, it is around 1 in 24, or -4.5%, for women. The nationwide need for colorectal cancer diagnostics and treatment is increasing as a result of the increased number of cancer patients.
Competitive Insight
Some of the major players operating in the global market include Amgen Inc, Epigenomics AG, Bruker Corporation, Clinical Genomics Technologies Pty Ltd., F. Hoffmann-La Roche AG, VolitionRx Limited, Abbott, Novigenix SA, Quest Diagnostics and EDP Biotech.
Recent Developments
- In May 2022, Bruker introduced cutting-edge 7 Tesla and 9.4 Tesla conduction-cooled Maxwell magnets for its line of market-dominant preclinical magnetic resonance imaging (MRI) systems. The new line of Maxwell 7 Tesla and 9.4 Tesla magnets, which follow the success of its BioSpec Maxwell 3 Tesla model, eliminate the requirement for liquid Helium or Nitrogen refills while providing high-field sensitivity and resolution for cutting-edge preclinical MRI and PET/MR research.
- In January 2022, Amgen and Generate Biomedicines have partnered in research to find and create protein therapies for five clinical targets spanning several treatment modalities and therapeutic domains. The increased drug development efforts will lead to the creation of new protein sequences with the best therapeutic characteristics.
Colorectal Cancer Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 1.99 billion |
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Revenue forecast in 2032 |
USD 2.88 billion |
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CAGR |
4.7% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Treatment, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
Amgen Inc, Epigenomics AG, Bruker Corporation, Clinical Genomics Technologies Pty Ltd., F. Hoffmann-La Roche AG, VolitionRx Limited, Abbott, Novigenix SA, Quest Diagnostics, and EDP Biotech. |
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FAQ's
The global colorectal cancer market size is expected to reach USD 2.88 billion by 2032.
Colorectal cancer market key players are Amgen Inc, Epigenomics AG, Bruker Corporation, Clinical Genomics Technologies Pty Ltd., F. Hoffmann-La Roche AG, VolitionRx Limited, Abbott, Novigenix SA.
North America contribute notably towards the global colorectal cancer market.
The global colorectal cancer market expected to grow at a CAGR of 4.7% during the forecast period.
The colorectal cancer market report covering key segments are treatment, end-use, and region.
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