Colorectal cancer is also known as bowel cancer and often begins as a growth called a polyp inside the colon or rectum. Diagnosis with the help of modern techniques and removing polyps is one method that can prevent colorectal cancer.
Market Dynamics
Changing lifestyle pattern, unhealthy food consumption is resulting in consumers suffering from various problems. With the increasing number of patients suffering from bowel cancer across the globe demand for advanced treatment is major factor expected to drive the growth of global colorectal cancer treatment market. According to American Society of Clinical Oncology, in 2020 an estimated 149,500 adults in the United States will be diagnosed with colorectal cancer. These numbers include 104,270 new cases of colon cancer (52,590 men and 51,680 women) and 45,230 new cases of rectal cancer (26,930 men and 18,300 women). Availability of advanced infrastructure in developed countries and high investment by major players for development of advanced drugs in order to treat the disorder are factors expected to augment the growth of colorectal cancer treatment market. Their approach towards business expansion overseas in order to increase the revenue is expected to impact the growth.
In 2020, Servier Laboratories, a global pharmaceutical company launched “Lonsurf” colorectal cancer drug in Russia market. This product launch is expected to help the company to enhance the business and increase revenue.
In 2016, Hetero, a drug manufacturing company launched biosimilar of 'Bevacizumab' used in treating metastatic colorectal cancer (mCRC). The product is launched by the name “CizumabTM”. The product launch is expected to help the company to enhance the product portfolio and increase the revenue share.
In 2020, Food and Drug Administration (FDA) approved encorafenib (Braftovi) for the treatment of some patients with colorectal cancer. The drug is targeted therapies, Cetuximab, which targets a protein known as EGFR, has already been approved to treat some patients with colorectal cancer.
Favorable business policies by the government of developing countries and major players approach towards enhancing the business in emerging economies due to easy availability of raw material and low cost labor are factors expected to boost the colorectal cancer treatment market growth. Factors such as high cost of R&D and stringent government regulations related to product approval are expected to hamper the growth of global colorectal cancer treatment market. In addition, high cost medications is expected to limit its adoption further challenging the growth of target market. However, increasing investment by major payers for R&D activities, increasing clinical trials and focus on introduction of new drugs are factors expected to create new opportunities for players operating in colorectal cancer treatment market over the forecast period. In addition, increasing partnership between regional and international players is expected to support the revenue transaction of the target market.
Segment Analysis by Region
The market in North America is expected to account for major revenue share in the global colorectal cancer treatment market due to high patients suffering from bowel cancer. According to The American Cancer Society, it estimates the number of colorectal cancer cases in the United States for 2021 is 104,270 new cases of colon cancer. Increasing R&D activities, availability of advanced infrastructure and presence of large players operating in the country are factors expected to boost the growth of colorectal cancer treatment market. In addition, increasing acquisition activities in order to enhance the business is expected to support the regional market growth.
Competitive Landscape
The global colorectal cancer treatment market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Colorectal Cancer Treatment Market Segment Analysis, 2019
The global colorectal cancer treatment market is segmented into diagnosis and treatment. The diagnosis segment is bifurcated into digital rectal examination, faecal occult blood test, flexible sigmoidoscopy, colonoscopy, and virtual colonoscopy. Among diagnosis, the digital rectal examination segment is expected to account for significant revenue share in the global colorectal cancer treatment market. The treatment segment is divided into surgery and radiation therapy, chemotherapy, targeted therapies, and resistance to pharmacological therapies. Among treatment, the targeted therapies segment is expected to witness faster growth in the target market. The players profiled in the report are Abbott Diagnostics, Alere, Beckman Coulter, Clinical Genomics, Companion Dx, Hoffmann La Roche, Debiopharm Group, and Vaccinogen BD.
Market Segmentation
Market By Diagnosis
Digital Rectal Examination
Faecal Occult Blood Test
Flexible Sigmoidoscopy
Colonoscopy
Virtual Colonoscopy
Market By Treatment
Surgery and Radiation Therapy
Chemotherapy
Targeted Therapies
Resistance to Pharmacological Therapies
Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
