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By 2026, APAC In-vitro Colorectal Cancer Screening Tests Market to Rise at USD 230.0 Mn
Published Date: 2020-02-24
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According to the Graphical Research new growth forecast report titled “Asia Pacific In-vitro Colorectal Cancer Screening Tests Market Value By Test Type, Industry Analysis Report, Regional Outlook”, Estimated To Exceed USD 230.0 Million By 2026. Increasing government initiatives and funding for early detection of colorectal cancer is expected to surge the growth for in-vitro colorectal cancer screening in Asia Pacific region. Initiatives like continuous medical education policy are adopted by the government to diagnose and develop surgical treatments to cater the needs of colorectal cancer screening in Asia Pacific region.
Increasing prevalence of colorectal cancer in the Asia Pacific region fuels the market growth. In India, the yearly prevalence rates for rectal cancer is 4.1 per 100,000, and colon cancer is 4.4 per 100,000 in men. The annual incidence rates for colon cancer in women is 3.9 per 100,000. The lifestyle-related and genetic factors, increasing demand for safe and high quality endoscopy facilities compel to boost industry growth in the forecasting years.
However, lack of reimbursement in developing countries may restrict in-vitro colorectal cancer screening tests industry growth in forthcoming years.
Fecal Occult Blood Test (FOBT) market was valued at over USD 95.0 million in 2019. The ease to use trends and cost effectiveness of the FOBT segment propel the demand for this segment in Asia Pacific. Also, the increasing specificity and sensitivity of the stool-based test will further drive the market growth.
Asia Pacific in-vitro colorectal cancer screening tests market was led by Japan in-vitro colorectal cancer screening tests market and is estimated to show a definite trend throughout the forecast period. This growth is attributed to growing awareness towards reducing the mortality and early detection. Also, increasing demand for colorectal cancer screening by OC and FOBT with related interferences, rising funding for research project by Ministry of Health, Welfare and Labor, improvement in the colorectal cancer screening uptake will fuel the industry growth.
Key market players in Asia Pacific invitro colorectal cancer screening market are Abbott Laboratories, Beckman Coulter Diagnostics, Eiken Chemical Co. Ltd, EMD Millipore, among other industry contributors. These market players are undertaking strategies such as collaborations, new product development, and agreement to increase market presence and for company expansion. For instance, in 2016, Siemens Healthineers announced the expansion of their manufacturing facilities in China. The expansion will facilitate manufacturing operations for immunoassay reagents and clinical chemistry in China.
Asia Pacific in-vitro colorectal cancer screening tests Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Asia Pacific In-vitro Colorectal Cancer Screening Tests Market Share, By Test type, 2015 to 2026, (USD Million)
- Fecal occult blood test
- Guaiac FOB stool test
- Immuno-FOB agglutination test
- Lateral flow immune-FOB test
- Immuno-FOB ELISA test
- Biomarker test
- Tumor M2-PK stool test
- Transferrin assays
- CRC DNA screening test
- Methylated gene test
- Panel DNA test
The above information is provided for the following region and countries:
- Asia Pacific
- South Korea