Colorectal Cancer Diagnostics Market Size, Share, Growth, Trends, and Global Industry Analysis: Size, Share, Growth, Trends, and Global Industry Analysis By Test (FOB, CTC Tests, CEA Tests, KRAS Mutation Tests, Immunohistochemistry, Others), By End User (Hospitals, Diagnostic Centers and Cancer Research Institutes) and Region Forecast 2019-2030

Colorectal Cancer Diagnostics Market size was valued at US$ 2.35 billion in 2023 and is poised to grow at a CAGR of  8.8% from 2024 to 2030. Colorectal cancer is also called rectal cancer or colon cancer based on the type of origin in the body. The cancers are very alike in most features. Hence, rectal cancer diagnostics and colon cancer diagnostics are developed and researched on the same outlines as that colorectal cancer. Occurrences of colorectal cancer have been observed a rise over the past decade, which can be due to the aging population, lifestyle disorders, and inappropriate diet habits.

The global market provides a detailed overview of the market size, and that can be segmented by test, by end-user, and by Distribution channel. By test, the market growth has been segmented into FOB, CTC Tests, CEA Tests, KRAS Mutation Tests, Immunohistochemistry, and Others. The Fecal Occult Blood (FOB) tests segment is likely to be the largest and fastest-growing segment in terms of tests. The rise of this segment is mainly due to the fact that it is the most accepted test for colorectal cancer diagnostics across the globe.  CTC tests are probably the second largest growing segment in terms of tests. Immunohistochemistry is expected to expand during the forecast period.

However, the BRAF tests segment will be expected to account for a comparatively minor share of the global marketplace for colorectal cancer diagnostics during the forecast period. Based on End users, the market is segmented into Hospitals, Diagnostic Centers, and Cancer Research Institutes. Among these, the Hospitals segment is expected to have the fastest-growing market during the forecast period 2022-2028. Most operations are being performed in hospitals due to unremitting outpatient monitoring devices and care. As hospitals are chief healthcare centers for the people, therefore, superior care, inexpensive treatments, and increasing access are expected to drive the market growth. By region, the North American market is expected to witness the highest market share during the forecast period

Key Developments

• In January 2022, Clinical Genomics announced the extension for 5 years of their supply for the InSure ONE (FIT) fecal immunochemistry test in US
• In August 2022, the oncoReveal Dx colon cancer assay developed by Pillar Biosciences got approval from China National Medical Products Administration (NMPA)