The global colorectal cancer diagnosis and treatment market is anticipated to grow at a CAGR of 4.3% during the forecast period (2021-2027). The rising change in lifestyle of people such as lack of physical activity, consumption of alcohol and tobacco, smoking, and inadequate diet, rising prevalence of colorectal cancer cases, increasing awareness for the treatment of cancer, rising FDA approvals, and increasing geriatric population is driving the colorectal cancer diagnosis and treatment market during the forecast period. For instance, as per the United Nations, in 2019 the population with an age of 65 years or above was 9% across the globe. Besides, colorectal cancer is one of the most occurring cases in the human. As per the American cancer society, around 104,270 new cases of colon cancer are expected in the US in 2021.
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Besides, in May 2020, Eli Lilly and Company, has announced that the US Food and Drug Administration (FDA) has approved CYRAMZA, a ramucirumab injection, in combination with FOLFIRI (irinotecan, folinic acid, and fluorouracil), for the treatment of patients with metastatic colorectal cancer (mCRC) with highly progressed or after prior therapy with bevacizumab, oxaliplatin, and a fluoropyrimidine. In July 2020, Taiho Pharmaceutical Co., Ltd. has launched its anticancer agent LONSURF for the treatment of patients with metastatic colorectal cancer (mCRC) who have been previously treated with fluoropyrimidine-, oxaliplatin- and irinotecan-based chemotherapy.
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Additionally, in May 2019, EDP Biotech Corporation has announced an agreement with Luminex Corp. to sell a blood-based colorectal cancer diagnostic assay of Luminex’s technology, named ColoPlex. In September 2019, Prescient Metabiomics has announced that the US food and Drug Administration (FDA) has approved the device LifeKit to prevent colorectal neoplasia tests. This device is first made for a non-invasive diagnostic test, which is designed to detect pre-cancerous polyps as well as early-stage carcinomas, with the potential for the prevention of colorectal cancer. However, the demand for the treatment of cancers, new drugs, FDA approvals, and device launches, and the increasing prevalence of cancer patients could impede the global colorectal cancer diagnosis and treatment market over the coming years.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Colorectal Cancer Diagnosis and Treatment Market Report Segment
By Type
- Adenocarcinomas
- Carcinoid Tumors
- Lymphomas
- Sarcomas
- Gastrointestinal Stromal Tumors (GISTS)
By Diagnosis
- Digital Rectal Examination
- Fecal Occult Blood Test
- Flexible Sigmoidoscopy
- Colonoscopy
- Others (Biopsy)
By Treatment
- Surgery
- Radiation Therapy
- Chemotherapy
- Targeted Therapy
- Immunotherapy
By End-User
- Multispecialty Hospitals
- Cancer Research Centers
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
