Industry Outlook and Trend Analysis
The global In-Vitro Colorectal Cancer Screening Tests market was worth USD 0.50 billion in the year 2012 and is expected to reach approximately USD 0.85 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 5.39% during the forecast period. Developing rates of rectal and colon cancer and the advent of novel screening tests utilizing genetic testing are the key elements that are anticipated to drive the in-vitro colorectal cancer screening tests market over the conjecture time frame. The advent of government controls went for compulsory use of cancer screening tests, increasing requirement for novel minimally invasive tests which screen for colorectal cancer utilizing genetic and DNA biomarkers and the expanding commonness of colorectal disease are foreseen to fuel the development of the market for in-vitro colorectal cancer screening tests. Comprehensively, colorectal cancer (CRC) is the third most common type of cancer. CRC represents right around a tenth of all disease occurrences around the world. This rate has just been expanding in the course of the most recent few years. Moreover, the advent of novel colorectal tests which utilize biomarkers, for example, tumor M2-PK marker or which screen for colorectal disease utilizing methylated genes for screening will witness a development in market demand all through the gauge time frame. The essential factor in charge of this switch in pattern can be ascribed to by the expanded precision of screening which these more up to date genetic tests bring to the table.
Product Outlook and Trend Analysis
The worldwide in-vitro colorectal cancer screening tests market was observed to be ruled by fecal mysterious blood tests attributable to their higher utilization rates and simple relevance to extensive gatherings of the populace on the double for cancer screening. The biggest share of the market for in-vitro colorectal screening tests was observed to be possessed Immuno-FOB ELISA and Immuno-FOB agglutination tests in 2014. Nonetheless, the development and investigation of more up to date more precise techniques for in-vitro colorectal cancer screening have prompted the advancement of biomarker and DNA screening tests. The most recent improvements in the screening tests are the methylated gene testing and transferrin assays. Amid the initial phases of cancer and before the genuine tumors spread over the human body, fixation examination of transferrin can give important data in the screening of precancerous lesions. Transferrin dipstick test has reflected precision reliable qualities with Immuno-FOB stool tests and attributable to their simpler appropriateness is anticipated to gain development all through the figure time frame. Likewise, testing for the existence of extreme gene methylation to decide the level of danger of development of colorectal cancer is additionally anticipated that would pick up share of the market in the upcoming years.
Regional Outlook and Trend Analysis
In 2014 the in-vitro colorectal cancer screening tests market was dominated by North America. Factors, for example, rising aged population, high rates of colorectal cancer has added to the district's market position. Nonetheless, Asia-Pacific is relied upon to witness generous development over the figure time frame attributable to the expanding commonness of cancer in this area. Cancer is a developing concern inferable from rising elderly populace base and changes in way of life in Asian nations. In-vitro colorectal cancer is the third most harmful issue in men and women. The death rates of colorectal cancer are on an ascent in this locale over the previous decade. National rules on colorectal cancer screening are nonexistent in most Asian nations aside from in Taiwan, Singapore, Japan, and Korea.
The in-vitro colorectal cancer screening tests market is extremely focused set apart by constant key partnerships, mergers, and acquisitions. Coordinated efforts are essentially utilized as a technique to upgrade item portfolio. The market is anticipated to move towards union throughout the following years. Research and development spending is relied upon to keep on growing, as most market players are associated with the improvement of CRC DNA and biomarker screening tests. Some of the major players in the market are R-Biopharm, Epigenomics AG, Sysmex Corporation, Quest Diagnostics, Merck Millipore, Kyowa Medex, Companion Dx, Abbott Molecular Inc, Immunostics Co, MODE Diagnostics Ltd, Siemens Healthineers and Randox Laboratories.
The In-Vitro Colorectal Cancer Screening Tests Market is segmented as follows-
Tumor M2-PK Stool Test
Fecal Occult Blood Tests
Lateral Flow Immuno-FOB Test
Guaiac FOB Stool Test
Immuno-FOB Agglutination Test
Immuno-FOB ELISA Test
CRC DNA Screening Tests
Panel DNA Tests
Methylated Gene Testing
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2012 and forecast from 2013 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?