In-Vitro Colorectal Cancer Screening Tests Market

Global In-Vitro Colorectal Cancer Screening Tests Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2023-2029- The market will expand due to the increasing incidences of colorectal cancer, growing emphasis on early detection, and the advancements in technology.

Global In-Vitro Colorectal Cancer Screening Tests Market is valued at US$ 941.2 Million in 2022 and it is expected to reach US$ 1516.3 Million by 2029 with a CAGR of 7.05% over the forecast period.

Scope of Global In-Vitro Colorectal Cancer Screening Tests Market Report-

In-vitro colorectal cancer screening tests are laboratory-based tests designed to detect the presence of colorectal cancer or precancerous conditions in a patient's body. These tests involve analyzing biological samples, such as blood or stool, to identify specific biomarkers or genetic alterations associated with colorectal cancer. Colorectal cancer is one of the most common types of cancer worldwide. Early detection is crucial for successful treatment and improved patient outcomes. In-vitro colorectal cancer screening tests have evolved over time, and various technologies have been developed to enhance their accuracy and reliability.

One of the most well-known screening tests for colorectal cancer is the fecal occult blood test (FOBT), which was introduced in the 1970s. This test detects hidden (occult) blood in stool samples. Over the years, advancements in technology have led to the development of more advanced tests, such as the fecal immunochemical test (FIT) and DNA-based tests like the multitarget stool DNA test (mt-sDNA) or the methylated SEPT9 DNA test.

In-vitro colorectal cancer screening tests are primarily used for early detection and screening purposes. They help identify individuals who may have colorectal cancer or precancerous conditions even before symptoms manifest. These tests are recommended for average-risk individuals aged 50 and older, as well as individuals with a family history of colorectal cancer or other risk factors.

The primary end-users of in-vitro colorectal cancer screening tests are healthcare providers and clinical laboratories. Healthcare providers collect the samples (blood or stool) from patients, and clinical laboratories perform the analysis to detect biomarkers or genetic alterations associated with colorectal cancer

Revenue Generation Model:

The revenue generation model for the in-vitro colorectal cancer screening tests market typically involves the sale of testing kits and related consumables to healthcare providers or clinical laboratories. The revenue is generated through the sale of these products and may also involve additional revenue streams, such as service contracts, maintenance, or subscription models for ongoing support and updates.

Supply Chain Analysis:

The supply chain model for in-vitro colorectal cancer screening tests market involves multiple stakeholders, including manufacturers, distributors, healthcare providers, and clinical laboratories. Manufacturers produce the testing kits and consumables, which are then distributed to various healthcare providers or clinical laboratories through distributors or directly. Healthcare providers collect patient samples and send them to clinical laboratories for analysis. The results are then reported back to the healthcare providers for interpretation and further action.

Value Chain Analysis:

The value chain model for in-vitro colorectal cancer screening tests market encompasses all the activities involved in bringing the tests to the market and delivering value to end users. This includes research and development of new tests and technologies, manufacturing of testing kits and consumables, distribution, sample collection, laboratory analysis, result interpretation, and patient follow-up. Each step in the value chain adds value to the overall process and contributes to the successful implementation of colorectal cancer screening programs.

Covid-19 Impact on the Global In-Vitro Colorectal Cancer Screening Tests Market:

The Covid-19 pandemic had a significant impact on the in-vitro colorectal cancer screening tests market. Due to the overwhelming focus on managing and containing the spread of the virus, routine screenings and elective medical procedures, including colorectal cancer screenings, were postponed or canceled. This resulted in a decline in the demand for in-vitro colorectal cancer screening tests during the pandemic.

Moreover, healthcare systems faced resource constraints, including laboratory capacity and personnel availability, which further hampered the uptake of these tests. Financial constraints, shifting priorities, and disruptions in the healthcare system also played a role in the reduced utilization of colorectal cancer screening tests.

However, as the situation improves and healthcare services resume, there is a growing recognition of the importance of colorectal cancer screening. Efforts are being made to catch up on missed screenings and promote awareness about the benefits of early detection. The in-vitro colorectal cancer screening tests market is expected to recover gradually as screening programs are reinstated and healthcare systems adapt to the new normal.

Key Players of Global In-Vitro Colorectal Cancer Screening Tests Market Report-

• Abbott Laboratories
• Exact Sciences Corporation
• F. Hoffmann-La Roche Ltd.
• Siemens Healthineers AG
• Sysmex Corporation
• Epigenomics AG
• QIAGEN N.V.
• bioMérieux SA
• Beckman Coulter Inc.
• DiaSorin S.p.A.
• Meridian Bioscience Inc.
• Eiken Chemical Co. Ltd.
• Novigenix SA
• Randox Laboratories Ltd.
• Immunostics Inc.
• MTM Laboratories AG
• Kyowa Medex Co. Ltd.
• Biomerica Inc.
• Cepheid
• Myriad Genetics Inc.

Global In-Vitro Colorectal Cancer Screening Tests Market Segmentation:-

By Product:

• Fecal Occult Blood Test
  • Guaiac FOB Stool Test
  • Immuno-FOB Agglutination Test
  • Lateral Flow Immuno-FOB Test
  • Immuno-FOB ELISA Test
• Biomarker Tests
  • Tumor M2-PK Stool Test
  • Transferrin Assasys
• CRC DNA Screening Tests
  • Methylated Gene Test
  • Panel DNA Test

By Imaging Type:

• Colonoscopy
• Proctoscopy
• CT Scan
• Ultrasound
• MRI
• PET Scan

By Application:

• Screnning
• Diagnosis
• Prognosis and Risk Assessment
• Research and Development

By End-User:

• Hospitals
• Clinics
• Diagnostics laboratories
• Ambulatory Surgical Centers

By Regional & Country Level:

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • GCC
  • Africa
  • Rest of Middle East and Africa

Market Drivers:

Increasing Incidences of Colorectal Cancer: The rising number of colorectal cancer cases globally creates a higher demand for effective screening methods to detect the disease at an early stage. Early detection allows for timely intervention and improved treatment outcomes, driving the need for in-vitro colorectal cancer screening tests. The growing burden of colorectal cancer underscores the importance of these tests in population-wide screening programs and individual healthcare management.

According to the World Health Organization (WHO), colorectal cancer is the third most commonly diagnosed cancer worldwide. In 2020, there were an estimated 1.93 million new cases of colorectal cancer, accounting for about 10% of all cancer cases.

Technological Advancements: These advancements have led to the development of more accurate and reliable screening tests, such as DNA-based tests and advanced biomarker detection methods. Improved technologies offer enhanced sensitivity, specificity, and efficiency in detecting colorectal cancer and precancerous conditions. They also contribute to patient comfort and convenience, leading to increased adoption of these tests. Technological advancements continue to drive innovation and improve the overall effectiveness of In-Vitro Colorectal Cancer Screening Tests.

For example; a study published in the New England Journal of Medicine found that the Cologuard test, a commercially available MT-sDNA test, detected 92.3% of colorectal cancers and 42.4% of advanced precancerous lesions in a study of over 10,000 participants.

Market Restraints:

The cost and affordability of in-vitro colorectal cancer screening tests can be a significant restraint. The high cost of these tests may limit accessibility, particularly in regions with limited healthcare resources or populations with financial constraints. Affordability issues can lead to lower adoption rates, especially among underinsured or uninsured individuals who may face challenges in covering the expenses associated with screening tests.

Addressing cost-related barriers through cost reduction strategies, insurance coverage improvements, and subsidies can help mitigate this restraint and improve access to screening for a broader population. For example; the cost of mt-sDNA tests can range from $500 to $1,000 or more, depending on the specific test brand and provider.

Opportunity Factors:

Increasing Awareness and Education: There is a significant opportunity to enhance public awareness and education about colorectal cancer and the importance of screening. Increased awareness campaigns and educational initiatives can drive greater acceptance and utilization of In-Vitro Colorectal Cancer Screening Tests.

Integration of Artificial Intelligence and Machine Learning: The integration of artificial intelligence (AI) and machine learning (ML) technologies in in-vitro colorectal cancer screening tests can enable improved accuracy, faster results, and enhanced risk prediction. AI-powered algorithms can aid in the interpretation of test results and support clinical decision-making.

Market Trend Analysis:

Product and Technology Development Trends:

Development of Non-Invasive Tests: The market is witnessing a trend towards the development of non-invasive tests, such as blood-based biomarker assays or breath tests, that eliminate the need for invasive sample collection methods. These tests offer convenience, increased patient compliance, and improved overall user experience.

Liquid Biopsies: Liquid biopsies, which involve the analysis of circulating tumor DNA or other biomarkers in blood samples, are gaining traction in colorectal cancer screening. They offer a minimally invasive alternative to traditional tissue biopsies and have the potential to provide real-time monitoring of disease progression and treatment response.

Customer Trends:

Preference for Home-Based Testing: There is a growing trend towards home-based testing kits for colorectal cancer screening. These kits allow individuals to collect samples in the comfort of their own homes and mail them to a laboratory for analysis. Home-based testing offers convenience and privacy, particularly for those who may be hesitant to visit healthcare facilities.

Focus on Accuracy and Sensitivity: Customers are increasingly seeking screening tests that offer high accuracy and sensitivity in detecting colorectal cancer. They are looking for tests that provide reliable results to minimize the risk of false negatives or false positives, ensuring early detection and appropriate follow-up care.

Market Competition Nature:

Competition in the In-vitro colorectal cancer screening tests market is intense, with numerous players vying for market share. Key market players employ various strategies to gain a competitive edge and expand their customer base.

Specifically, some of the strategies employed by market players include:

Product Innovation: Key market players are investing heavily in research and development to develop new and innovative screening technologies that offer improved accuracy, sensitivity, and convenience. These advancements allow players to differentiate themselves from competitors and attract new customers.

Strategic Partnerships and Collaborations: Market players are forming strategic partnerships and collaborations with other companies and organizations to expand their reach and offer more comprehensive screening solutions. These partnerships also allow players to leverage each other's strengths and expertise to develop more advanced technologies.

Mergers and Acquisitions: Market players are also engaging in mergers and acquisitions to expand their product portfolios and increase their market share. These transactions allow players to enter new markets, acquire new technologies, and access new customer segments.

Marketing and Promotions: Market players are investing in marketing and promotional activities to increase awareness of their products and services among healthcare professionals and patients. These efforts include advertising campaigns, sponsorships of medical conferences and events, and targeted outreach to physicians and other healthcare providers.

Geography Analysis:

North America is One of the Largest and Most Developed Regions in The Global In-Vitro Colorectal Cancer Screening Tests Market:

North America has witnessed significant adoption of in-vitro colorectal cancer screening tests due to several factors. First, there are high incidences of colorectal cancer in the region, driving the demand for effective screening methods. For instance; in 2023, an estimated 153,020 adults in the United States will be diagnosed with colorectal cancer. Second, the region has a strong emphasis on preventive healthcare and early detection, with extensive screening programs and guidelines in place.

In terms of market players, North America is home to several prominent companies that offer a wide range of In-Vitro Colorectal Cancer Screening Tests. These companies leverage their advanced technologies, research capabilities, and marketing strategies to compete in the market.

Additionally, Government initiatives and policies play a crucial role in shaping the in-vitro colorectal cancer screening tests market in North America. For instance; The USPSTF expanded the recommended ages for colorectal cancer screening to 45 to 75 years (previously, it was 50 to 75 years). The USPSTF continues to recommend selectively screening adults aged 76 to 85 years for colorectal cancer.

Europe is a Key Market for In-Vitro Colorectal Cancer Screening Tests, Driven by Strong Healthcare Infrastructure and National Screening Programs:

Europe is a significant region in the in-vitro colorectal cancer screening tests market, with a strong focus on cancer screening and healthcare infrastructure. The region has a well-established healthcare system, robust reimbursement policies, and widespread awareness about the importance of early cancer detection. These factors contribute to the high demand for in-vitro colorectal cancer screening tests in Europe.

For example; according to the European Commission's report on the State of Health in the EU, as of 2020, the European Union (EU) had over 11 million healthcare professionals, including doctors, nurses, and pharmacists, serving a population of around 450 million people.

Several European countries have implemented national screening programs for colorectal cancer, offering screening tests to eligible individuals. These programs have played a crucial role in increasing the uptake of in-vitro colorectal cancer screening tests in the region. The National Health Service (NHS) offers the Bowel Cancer Screening Program, providing fecal occult blood tests (FOBT) to individuals aged 60-74 every two years. In some areas, an additional test called the bowel scope screening is also offered.

Europe is home to several key market players that are actively involved in developing and commercializing in-vitro colorectal cancer screening tests. These companies leverage advanced technologies, such as DNA-based tests and biomarker detection methods, to offer accurate and reliable screening solutions. The region's focus on research and development promotes continuous innovation in the field, leading to the introduction of new and improved screening technologies.

Key Benefits of Global In-Vitro Colorectal Cancer Screening Tests Market Report–

• Global In-Vitro Colorectal Cancer Screening Tests Market report covers in-depth historical and forecast analysis.
• Global In-Vitro Colorectal Cancer Screening Tests Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country Level.
• Global In-Vitro Colorectal Cancer Screening Tests Market report helps to identify opportunities in the marketplace.
• Global In-Vitro Colorectal Cancer Screening Tests Market report covers extensive analysis of emerging trends and competitive landscape.