Pervasiveness of Colorectal Cancer at an Alarming Rate to Boost the Growth of Colorectal Cancer Diagnostics Market

Rockville, USA, 2019-May-03 — /EPR Network/ —A recent report by Fact.MR projects the global colorectal cancer diagnostics market to register an impressive expansion at 8.5% CAGR during the forecast period 2017 to 2022. Revenues from the global colorectal cancer diagnostics market is expected to surpass US$ 2,000 Mn by 2022-end.

There has been a substantial increase in the demand for the colorectal cancer diagnostics, with the outbreak of colon cancer at an alarming rate. Rise in the demand for the diagnostics equipment is evident in the emerging countries, deprived of the robust healthcare infrastructures. Additionally, absence of adjuvant and neoadjuvant agents for the detection of cancer among patients is expected to reflect favorably on the global colorectal cancer diagnostics market.

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With the advent of advanced diagnostics tests, government initiatives to control the prevalence of cancer, and adoption of diagnostics therapies, the size of the market is poised to surpass the value of US$ 2,000 Mn through 2022. Colorectal cancer, being the third-most prevalent cancer across the world, the demand for acute diagnostics tool has been surging, especially in the developed economies. Advanced screening methodologies in the market are further anticipated to be a strong driver for the growth of this market.

According to the World Cancer Research Fund, colorectal cancer forms the third-most occurring type of cancer across the globe. In 2012, over 1 Mn cases of colorectal cancer were diagnosed. Majority of these cases were reported across developed economies, and this is further estimated to exceed in the near future. This rise in incidences of colorectal cancer has boosted demand for its diagnostics, treatment, and therapeutics worldwide. However, the number of deaths owing to colorectal cancer has been witnessing a decline since recent past, owing to the awareness spread by the American Cancer Society. The introduction of more effective diagnostics, and development of screening methods are further expected to drive growth of the global colorectal cancer diagnostics market.

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Excellent spending capacity of North America, is projected to make it the most lucrative geography for the development of colorectal cancer diagnostics market, with a projected CAGR of approximately 8% during the period 2017 to 2022. This will further contribute in growth of global colorectal cancer diagnostics market, which is predicted to record a CAGR of 8.5% through 2022, opines Fact.MR.

This extensive study includes various macroeconomic and microeconomic factors that influence the growth of the market during the forecasted period. An all-encompassing assessment on key market drivers, recent developments in the market, lucrative opportunities, trends, and restraints has been incorporated in this insightful report. The comprehensive study estimates the attractiveness of the market, on the basis of its region, test type, and end-user. This comprehensive assessment has been curated, on the basis of the data culled from the primary and secondary sources. A comprehensive assessment on the market has been encapsulated in this in-depth study, which offers a precise forecast on the key demand drivers for the forecast period.

Colorectal Cancer Diagnostics Market: Geographical Split and Competitive Dynamics

North America will continue to be the most lucrative region for the colorectal cancer diagnostics market. Revenue from market in North America is expected to surpass US$ 800 Mn by 2022-end.

The behemoths analyzed in this report consists of Foundation Medicine, Inc., Illumina, Inc., Sysmex Corporation, Danaher Corporation, Cancer Genetics, Inc., Exact Science Corporation, Biocept, Inc, Rosetta Genomics, Pathway Genomics Corporation, and Epigenomics AG. An in-depth evaluation has been made on these leading players that are dominating the colorectal cancer diagnostics market has been included in the report, along with its revenue, recent M&A, and product offerings.

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