June 22, 2024
U.S. Colorectal Cancer Screening Market

U.S. Colorectal Cancer Screening Market Witnesses Significant Growth Owing To Increasing Colorectal Cancer Incidence Rates

Colorectal cancer screening tests, including stool-based tests, flexible sigmoidoscopy, colonoscopy and computed tomographic colonography help detect precancerous polyps or growths in the colon or rectum that could develop into colorectal cancer. Rising awareness about early detection and diagnosis of colorectal cancer is driving demand for these screening tests in the country.

The Global Colorectal Cancer Screening Market Size 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.

Key Takeaways

Key players operating in the U.S. Colorectal Cancer Screening are Polymedco Inc., Eiken Chemical Co. Ltd., Sysmex Corporation, Quidel Corporation, And Novigenix SA Among Others. These players are focusing on developing advanced colorectal cancer screening tests and diagnostics to gain market share.

The market provides significant growth opportunities for players in the form of increasing adoption of minimally invasive diagnostic procedures for early detection of colorectal cancer. Rising awareness about benefits of regular screening is further driving the demand.

The colorectal cancer screening market is witnessing an expansion in its global outreach with growing prevalence of disease in developing regions. Players are actively focusing on geographic expansion and launching accurate diagnostic kits and tests in international markets.

Market Drivers

A major market driver is the rising incidence rates of colorectal cancer in the United States. As per American Cancer Society estimates, the lifetime risk of developing colorectal cancer is about 1 in 23 for American men and 1 in 25 for American women. Increasing prevalence of risk factors such as obesity, lack of physical activity, alcohol consumption and smoking is contributing to higher disease occurrence. This is promoting adoption of colorectal cancer screening tests in the country.

Pest Analysis

Political: The Affordable Care Act mandates coverage of colorectal cancer screening tests without cost sharing for Medicare beneficiaries aged 50–75. This increases accessibility and adoption rates.

Economic: Rising healthcare costs and increasing life expectancy are driving demand for cost-effective early detection methods. Screening is recommended every 10 years for average-risk adults aged 50-75 and can prevent colorectal cancer cases through removal of precancerous polyps.

Social: Greater awareness through prevention campaigns and discussions with doctors contribute to higher screening participation. People seek health and lifestyle improvement as well as early detection of diseases.

Technological: New noninvasive fecal immunochemical tests can detect blood in stool samples with improved accuracy and simplify testing process. Advances in colonoscopy equipment and preparation methods enhance patient acceptance and experience. Computer-aided diagnostic tools also aid in polyp detection.

The Midwestern region accounts for a larger share of the overall U.S. market value due to greater adoption of screening recommendations compared to the Western region. States like Illinois, Michigan and Ohio emphasize the importance of screening through public health initiatives and physician education. The aging population profile also means higher prevalence of average-risk individuals in this region.

The Southern region is poised to witness the fastest growth over the forecast period with annual rates exceeding 8%. States like Texas, Florida and North Carolina are focused on expanding access to screening in rural areas and lower-income populations through targeted outreach programs. Initiatives aim to promote ongoing screening and reduce late-stage diagnosis rates through improved awareness and access. With a growing and older demographic, demand is rising rapidly across this region.

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 Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the U.S. Colorectal Cancer Screening Market 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 Market 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 Market vendors

FAQ’S

Q.1 What are the main factors influencing the U.S. Colorectal Cancer Screening market?

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 Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the U.S. Colorectal Cancer Screening market’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