The global in-vitro colorectal cancer screening tests market was valued at USD 559.3 million in 2014 and is likely to grow at a CAGR of 5.2% over the forecast period. Growing incidences of colon and rectal cancer and the introduction of novel screening tests employing genetic testing are the major factors expected to drive the in-vitro colorectal cancer screening tests market over the forecast period. The introduction of government regulations aimed at mandatory application of cancer screening tests, growing demand for novel minimally invasive tests which screen for colorectal cancer using DNA and genetic biomarkers, and the increasing prevalence of colorectal cancer are expected to fuel the growth of the market for in-vitro colorectal cancer screening tests.
Global In-vitro colorectal cancer screening tests market, by product, 2012 - 2022 (USD Million)
Globally, colorectal cancer (CRC) is the third most prevalent form of cancer. CRC accounts for almost a tenth of all cancer incidences worldwide. This incidence has only been increasing over the last couple of years. Furthermore, the introduction of novel colorectal tests which use biomarkers such as tumor M2-PK marker or which screen for colorectal cancer using methylated genes for screening will witness a growth in market demand throughout the forecast period. The primary factor responsible for this shift in trend can be attributed to the increased accuracy of screening which these newer genetic tests have to offer.
The global in-vitro colorectal cancer screening tests market was found to be dominated by fecal occult blood tests owing to their higher usage rates and easy applicability to large groups of the population at once for cancer screening. The largest share of the market for in-vitro colorectal screening tests was found to be occupied Immuno-FOB ELISA and Immuno-FOB agglutination tests in 2014. However, the investigation and development of newer more accurate methods for in-vitro colorectal cancer screening have led to the development of biomarker and DNA screening tests. The latest developments in the screening tests are the transferrin assays and methylated gene testing. During the early stages of cancer and before the actual tumors spread across the human body, concentration analysis of transferrin can provide valuable information in the screening of precancerous lesions. Transferrin dipstick test has exhibited accuracy consistent with Immuno-FOB stool tests and owing to their easier applicability is expected to gain market throughout the forecast period. Similarly, testing for the presence of excessive gene methylation to determine the level of risk of occurrence of colorectal cancer is also expected to gain market share through to 2022. Complete commercialization of the methods of genetic in-vitro colorectal cancer screening tests is expected to boost their market penetration levels and revenue shares during the forecast period.
Regional analysis of the global in-vitro colorectal cancer screening tests market was performed by segmenting the market into North America, Europe, Asia-Pacific, Latin America and MEA. North America dominated the in-vitro colorectal cancer screening tests market in 2014. Factors such as the presence of larger geriatric population base, high incidences of colorectal cancer have contributed to the region’s market position. However, Asia-Pacific is expected to witness substantial growth over the forecast period owing to the increasing prevalence of cancer in this region. Cancer is a growing concern owing to the rising geriatric population base and changes in lifestyle in Asian countries. In-vitro colorectal cancer is the third most malignant disorder in both men and women. The mortality rates of colorectal cancer are on a rise in this region over the past decade. National guidelines on colorectal cancer screening are nonexistent in most Asian countries except in Japan, Korea, Singapore, and Taiwan.
The in-vitro colorectal cancer screening tests market is highly competitive marked by frequent mergers, acquisitions, and strategic alliances. Collaborations are primarily employed as a strategy to enhance product portfolio. The market is expected to move towards consolidation over the next six years. R&D spending is expected to continue to grow, as most market players are involved in the development of CRC DNA and biomarker screening tests. Key players of the in-vitro colorectal cancer screening tests market include Abbott Molecular, Beckman Coulter, Alere, Epigenomics, Eiken Chemical, Sysmex, Siemens Healthcare, Quest Diagnostics, Companion Dx, Oncocyte, Merck Millipore, Immunostics, ExiQon, Kyowa Medex, Mode Diagnostics, Randox Laboratories and R-Biopharm.
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