Colorectal Cancer Molecular Diagnostics Market Trends 2025-2034: Growth, Strategic Insights, and Opportunities Ahead
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Primary Drivers Are Supporting the Continued Market Growth of theColorectal Cancer Molecular Diagnostics Market?
The surge in cases of inflammatory bowel diseases (IBD), which are chronic gastrointestinal disorders that primarily affect the colon and rectum, is set to drive the expansion of the colorectal cancer molecular diagnostic market. Patients with IBD often experience symptoms such as abdominal discomfort, diarrhea, and weight loss and must manage their condition through medications, alterations in lifestyle, and occasionally surgery. This heightened occurrence of IBD emphasises the need for precise, efficient, and sophisticated diagnostic solutions, given that the choice of systemic treatment for colorectal cancer (CRC) largely depends on the molecular evaluation of the tumor. For example, in research conducted by Crohn’s & Colitis UK in 2022, it was found that there were approximately 500,000 people living with IBD in the UK, almost double of previous estimates, according to the UK Parliament in April 2024. Thus, the increasing cases of IBD serve as a catalyst for the growth of the colorectal cancer molecular diagnostic market. Another significant driving force for the colorectal cancer molecular diagnostics market is the increasing prevalence of colorectal cancer itself. This disease typically affects the colon or rectum – components of the digestive system. A tumor is formed when cells in the colon or rectum start to grow uncontrollably. With a higher incidence of colorectal cancer, the demand for molecular diagnostics for detecting and treating cancer also rises. As an example, in March 2023, the American Cancer Society disclosed that nearly 153,020 individuals are foreseen to be diagnosed with CRC (colorectal cancer), and roughly 52,550 of them are expected to lose their lives to the disease. Among these impacted individuals, 19,550 cases and 3,750 fatalities are predicted to occur among individuals below the age of 50. Hence, the climbing prevalence of colorectal cancer is pushing the growth of its molecular diagnostics market.
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How Has the Colorectal Cancer Molecular Diagnostics Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
In the previous years, the molecular diagnostics market for colorectal cancer has seen substantial growth. It is projected that the market which is currently valued at $2.56 billion in 2024 will expand to $2.77 billion in 2025, representing an annual growth rate of 8.1%. This growth during the historical period can be traced back to the rise in the incidence of colorectal cancer, the enhancement of awareness and screening strategies, the rising focus on individualized medication, and governmental initiatives aimed at managing cancer.
Over the upcoming years, significant growth is anticipated in the colorectal cancer molecular diagnostics market. The market is projected to expand to a value of $3.79 billion by 2029, with a compound annual growth rate (CAGR) of 8.1%. Factors contributing to the growth during this forecast period include an aging global population, increased integration of genomic data in medical practices, precision medicine advancements, global collaborations for cancer research, and amplified risk factors. Notable trends expected during this period consist of a heightened focus on early detection biomarkers, the integration of artificial intelligence (AI) in data analysis, the rising prominence of circulating tumor DNA (CTDNA) analysis, the widening of companion diagnostics for targeted therapies, and an emphasis on immunotherapy biomarkers.
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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theColorectal Cancer Molecular Diagnostics Market?
Leading enterprises within the colorectal cancer molecular diagnostic market are investing in advancements in molecular diagnostics and personalized medicine technologies; for instance, the Shield Blood Test, tailored to detect early-stage colorectal cancer. In May 2022, Guardant Health, a biotech firm based in the US providing oncology molecular diagnostic tools, officially introduced its Shield Blood Test. This innovative test, designed to facilitate easy screening through a simple blood draw, aims to tackle patient resistance towards screenings. The test boasted 91% sensitivity in identifying colorectal cancer and 20% successful detection rate of advanced adenomas, whereas specificity was reported at 92%. The Shield test detects early signs of colorectal cancer in the blood, leverages data involving diverse groups totalling over 2,000 colorectal cancer patients, 357 advanced adenoma patients, and 3,757 healthy subjects.
Who Are the Key Market Players Influencing the Growth of the Corn and Colorectal Cancer Molecular Diagnostics Industry?
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.
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Which Key Market Segments Comprise the Colorectal Cancer Molecular Diagnostics Market and Drive Its Revenue Growth?
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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Which Regions Are Emerging as Leaders in 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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