Comprehensive Analysis of the Colorectal Cancer Molecular Diagnostics Market 2025-2034: Growth Rates, Trends, and Future Opportunities
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What key factors are powering the surge in the colorectal cancer molecular diagnostics market right now?
The size of the colorectal cancer molecular diagnostics market has seen significant expansion in the past few years. It is projected to rise from $2.56 billion in 2024 to $2.77 billion in 2025, marking a compound annual growth rate (CAGR) of 8.1%. Factors contributing to this growth during the historic period include an increased number of colorectal cancer cases, heightened awareness, screening initiatives, a growing focus on personalized medicine, and governmental efforts related to cancer control.
How fast Is the colorectal cancer molecular diagnostics market expected to grow, and what’s its future value?
The market size for molecular diagnostics in colorectal cancer is predicted to experience a substantial surge in the upcoming years, reaching $3.79 billion by 2029 with a compound annual growth rate (CAGR) of 8.1%. The anticipated growth during this forecast period is primarily due to factors such as a rise in the elderly population and an increase in risk elements, the incorporation of genomic information into clinical procedures, the escalating adoption of precision medicine strategies, and a worldwide focus on cancer research collaborations. The evolution of this market during the forecast period is expected to be characterized by a growing emphasis on early detection markers, use of artificial intelligence in data interpretation, surge in circulating tumor DNA (CTDNA) analysis, the growth of companion diagnostics for personalized treatments, and a focus on biomarkers in immunotherapy.
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What are the leading drivers of growth in the colorectal cancer molecular diagnostics market?
The growth of the colorectal cancer molecular diagnostic market is anticipated to be fuelled by the escalating occurrence of inflammatory bowel diseases (IBD). These gastrointestinal disorders, marked by inflammation in the digestive tract, primarily affect the colon and rectum. They present symptoms such as abdominal pain, diarrhea and weight loss mitigated through medications, lifestyle adjustments, and occasionally, surgical procedures. The growing occurrence of inflammatory bowel diseases is increasing the demand for precise, efficient, and superior diagnostic solutions that are crucial in systemic therapy determination for colorectal cancer (CRC), which relies heavily on the molecular evaluation of the tumor. For instance, in April 2024, the UK Parliament, a UK-based governing body, reported that research by Crohn’s & Colitis UK in 2022 found 500,000 UK inhabitants living with inflammatory bowel disease (IBD), a figure which is almost twice the earlier estimates. Hence, the rise in inflammatory bowel disease (IBD) cases is predicted to propel the colorectal cancer molecular diagnostic market growth. The increasing instances of colorectal cancer are also expected to significantly contribute to the expansion of the colorectal cancer molecular diagnostics market. Characterized by uncontrollable cell growth in the colon or rectum forming a tumor, colorectal cancer is a disease impacting the digestive system. The surge in colorectal cancer incidence has raised the demand for molecular diagnostics for prompt detection and treatment of the disease. For instance, in March 2023, the American Cancer Society, a leading US health organization committed to cancer eradication, projected that around 153,020 people are anticipated to be diagnosed with colorectal cancer (CRC), with approximately 52,550 projected fatalities from the disease. Among these, 19,550 cases and 3,750 deaths are expected to occur in individuals below the age of 50. Therefore, the escalating prevalence of colorectal cancer is stimulating the colorectal cancer molecular diagnostics market expansion.
What are the key segments defining the colorectal cancer molecular diagnostics market?
The colorectal cancer molecular diagnostics market covered in this report is segmented –
1) By Type: Instruments, Reagents And Kits, Services
2) By Technology: Polymerase Chain Reaction (PCR), Sequencing, Mass Spectrometry, Transcription Mediated Amplification, Chips And Microarrays, Isothermal Nucleic Acid Amplification Technology (INAAT)
3) By End Users: Hospitals, Ambulatory Surgical Centers, Diagnostic Laboratories, Homecare Settings
Subsegments:
1) By Instruments: PCR Machines, Sequencers, Microarrays
2) By Reagents And Kits: DNA Or RNA Extraction Kits, Assay Kits, Reagent Packs
3) By Services: Diagnostic Testing Services, Genetic Testing Services, Consultation Services
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Who are the key players steering the development of the colorectal cancer molecular diagnostics market?
Major companies operating in the colorectal cancer molecular diagnostics market report are Johnson & Johnson, Bayer AG, Abbott Laboratories, Danaher Corporation, Becton Dickinson and Company, Biocartis Group NV, Agilent Technologies Inc., Grifols S.A, Hologic Inc., Biomérieux SA, Quidel Corporation, Bio-Rad Laboratories Inc., Qiagen N.V., Exact Sciences Corporation, Illumina Inc., Cepheid, Myriad Genetics Inc., Guardant Health, Luminex Corporation, GenMark Diagnostics, Amoy Diagnostics Co. Ltd., MDxHealth Inc., HTG Molecular Diagnostics Inc., GenPath Diagnostics, geneOmbio Technologies Pvt.
What emerging trends are influencing the growth of the colorectal cancer molecular diagnostics market?
Key players in the colorectal cancer molecular diagnostic market are prioritizing the innovation of molecular diagnostics and personalized treatments, such as the Shield Blood Test, to detect colorectal cancer in its earlier, more amenable to treatment stages. The Shield Blood Test, a pioneering screening method to detect early stage colorectal cancer. For example, in May 2022, the US-based biotech firm, Guardant Health, known for its oncology molecular diagnostic products, released its Shield Blood Test. This potential shield test offers a user-friendly way of screening, involving a simple blood draw to counter the challenge of patients’ hesitation to get screened. The test demonstrated a sensitivity of 91% for identifying colorectal cancer and 20% for identifying advanced adenomas, with a measured specificity of 92%. The Shield test detects early indications of colorectal cancer in the blood by analyzing data gathered from a wide variety of over 2,000 colorectal cancer patients, 357 with advanced adenoma and 3,757 healthy individuals.
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Which regions are most influential in expanding the colorectal cancer molecular diagnostics market?
North America was the largest region in the colorectal cancer molecular diagnostics market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the colorectal cancer molecular diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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