Colorectal cancer screening involves the use of tests and exams to help find precancerous polyps or find colorectal cancer early, when treatment works best. The most common screening tests for colorectal cancer are fecal occult blood test (FOBT), fecal immunochemical test (FIT), flexible sigmoidoscopy, colonoscopy, double-contrast barium enema (DCBE), computed tomographic colonography (CTC) also known as virtual colonoscopy. Colorectal cancer screening can help prevent colorectal cancer or find it early when treatment is most effective as the tests can find polyps or cancer so they can be removed before they have the chance to turn into cancer.
The US 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, Novigenix SA and Among Others. These players are mainly focused on mergers and acquisitions, new product launches and geographical expansion to gain more market share.
The demand for colorectal cancer screening tests is increasing owing to rising colorectal cancer cases in the US. As per the American Cancer Society, colorectal cancer is the third most common cancer in the US with over 150,000 new cases diagnosed in 2022. Screening can detect polyps or cancer early when treatment works best.
Technological advancements in diagnostic tests have improved their accuracy, simplicity, and affordability. For instance, new generation of Fecal Immunochemical Tests (FIT) are highly accurate and more patient-friendly than older FOBT tests. Similarly, advanced Cologuard test by Exact Sciences uses multi-target DNA technology to detect DNA markers in stool sample, making screening more accessible.
Market Trends
Advanced non-invasive CRC screening - Development of advanced non-invasive screening technologies and blood-based screening tests to increase patient compliance.
Increased awareness and screening guidelines - Initiatives by government and non-profit organizations to promote CRC screening and adherence to new screening guidelines for average-risk individuals.
Market Opportunities
Increasing utilization of FIT based screening tests due to accuracy and availability as OTC test without need for medical supervision.
New reimbursement policies and code sets such as Current Procedure Terminology (CPT) codes to boost adoption of advanced screening technologies such as CTC by healthcare providers and payers.
Impact of COVID-19 on U.S. Colorectal Cancer Screening Market
The COVID-19 pandemic has negatively impacted the U.S. colorectal cancer screening market. During the early stages of the pandemic in 2020, colorectal cancer screenings were postponed or cancelled to avoid risk of COVID-19 exposure and divert healthcare resources towards the pandemic. This led to a significant decline in screening rates. As per statistics, the screening rates fell by over 80-90% during March-April 2020 compared to pre-COVID levels. With lockdowns and social distancing measures in place, people avoided non-emergency healthcare procedures and physician visits. This impacted the market growth adversely in the short term.
However, as the pandemic situation stabilized gradually and vaccination drives were initiated, colorectal cancer screening rates started recovering from late 2020 onwards. Healthcare facilities adapted various strategies like heightened safety protocols, virtual consultations and staggered appointments to resume screening activities while maintaining COVID-appropriate behaviors. The increased awareness about the importance of cancer screenings even during the pandemic boosted market revival. In the long run, it is expected that increased funding for healthcare infrastructure, advanced diagnostics and continued medical research will help drive the market towards higher growth trajectory compared to the pre-COVID levels.
In terms of geographical regions, Northeast region accounts for the highest value share in the U.S. colorectal cancer screening market currently. States like New York and New Jersey have higher screening rates and healthcare expenditure contributing most to the regional market. The West region is witnessing the fastest growth and states like California, Washington are emerging healthcare hubs with investment in innovative diagnostic technologies and adequate insurance coverage supporting market expansion.
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's growth between 2024 and 2031.
:- Accurate calculation of the size of the U.S. Colorectal Cancer Screening 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 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 vendors
FAQ’s
Q.1 What are the main factors influencing the U.S. Colorectal Cancer Screening?
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 companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the U.S. Colorectal Cancer Screening’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?
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