by Colorectal cancer screening involves early detection of colorectal cancer through medical tests performed in people who have no symptoms. Regular screening is crucial as it aids in detecting polyps or cancer at an early stage when treatment is most effective. Non-invasive screening tests like fecal occult blood test, stool DNA test are used to detect blood in stool. For higher accuracy, invasive tests like colonoscopy, sigmoidoscopy are performed which allow direct visualization of colon and rectum. The U.S. colorectal cancer screening market is gaining traction as screening helps reduce risk of colorectal cancer deaths by detecting pre-cancerous polyps which can then be removed before turning cancerous.
The Global Colorectal Cancer Screening Market Size in U.S. is estimated to be valued at US$ 5,952.2 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024-2031.
Rising prevalence of colorectal cancer and growing awareness about early detection are major factors boosting the market growth. As per American Cancer Society, colorectal cancer is the third leading cause of cancer-related deaths in the U.S. and screening helps save many lives.
Key Takeaways
Key players operating in the U.S. Colorectal Cancer Screening are Polymedco Inc., Eiken Chemical Co. Ltd., Sysmex Corporation, Quidel Corporation, Novigenix SA and Among Others.
They offer innovative screening tests and kits to aid doctors in efficient screening.
The colorectal cancer screening market is witnessing growing demand due to rising incidence of colorectal cancer cases in the country. Permanent shifts in dietary and lifestyle factors have led to surge in colorectal cancer burden imposing the need for widespread screening adoption.
Major market players are focusing on new product launches, collaborations and expanding their presence globally to capitalize on opportunities arising from growing screening uptake worldwide. The U.S. market specifically is witnessing increased penetration in rural areas through collaborations with local doctors and healthcare organizations.
Market Key Trends
The key trend gaining traction in the U.S colorectal cancer screening market is shift towards non-invasive screening tests like fecal immunochemical tests (FIT) and multitarget stool DNA (mt-sDNA) tests. These tests can be performed at home and are more comfortable and convenient options compared to colonoscopy. Their high accuracy in detecting cancer makes them first choice for population-based screening programs, driving its increased acceptance. This trend is expected to boost early cancer detection and market revenues over the forecast period.
Porter’s Analysis
Threat Of New Entrants: High costs associated with R&D and manufacturing pose barriers.
Bargaining Power Of Buyers: Large healthcare organizations can negotiate lower prices from suppliers.
Bargaining power of suppliers: A few major suppliers dominate the market for diagnostic reagents and tools.
Threat of new substitutes: Several alternative screening methods have been introduced in the past decade.
Competitive rivalry: Leading players compete on technology innovations, pricing and quality of diagnostics.
Geographical Regions:
The U.S. region currently accounts for the largest share of the colorectal cancer screening market in terms of value due to advanced healthcare facilities, supportive insurance coverage and reimbursement policies. Key states driving the U.S. market include California, Texas, Florida and New York with high prevalence of colorectal cancer cases.
The Asia Pacific region is expected to experience the fastest growth during the forecast period owing to growing awareness initiatives by governments, increasing healthcare spending and presence of emerging economies like China and India with large patient pools. Rising adoption of colonoscopy and fecal occult blood tests for CRC screening in Asia Pacific countries will augment the regional market in the coming years.
What Are The Key Data Covered In This U.S. Colorectal Cancer Screening Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the U.S. Colorectal Cancer Screening’s growth between 2024 and 2031.
:- Accurate calculation of the size of the U.S. Colorectal Cancer Screening and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- U.S. Colorectal Cancer Screening Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of U.S. Colorectal Cancer Screening vendors
FAQ’s
Q.1 What are the main factors influencing the U.S. Colorectal Cancer Screening?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top U.S. Colorectal Cancer Screening companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the U.S. Colorectal Cancer Screening’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
