The North America Colorectal Cancer Screening Market would witness market growth of 4.2% CAGR during the forecast period (2023-2030).
Due to technological advancements in biotech, favorable policies and the affordability of DNA sequencing will further assure market growth. The FDA recently approved a faecal DNA test and a blood test to detect colorectal cancer to address market requirements for minimally intrusive diagnosis. Improvements in industrial genetics have enabled DNA sequencing with elevated speeds and at affordable costs, increasing the adoption rate for in-vitro colorectal cancer screening tests, thus widening the market prospects. Research and development activities focusing on developing superior DNA sequencing techniques, like RNA polymerase (RNAP) sequencing, microfluidic Sanger sequencing, and hybridization, will substantially affect the growth of this market.
The trend towards personalized medicine has led to the development of screening methods that consider individual risk factors, tailoring screening recommendations based on factors such as family history and genetics. Personalized medicine in the context of colorectal cancer screening involves tailoring screening strategies and interventions based on an individual's unique risk factors, genetic profile, medical history, and other relevant characteristics. This approach aims to provide more targeted and effective screening recommendations, thereby improving the early detection and management of colorectal cancer.
For the treatment and diagnosis of colorectal cancer, the United States and Canada have a well-structured healthcare system. The region's market is anticipated to increase due to factors like the increasing colorectal cancer prevalence rate, rising research funding, and rising market innovations by significant players. Also, according to the same source, in the United States, approximately nine out of ten people with colorectal cancer who are diagnosed early and treated appropriately are still alive five years later. The regional market is expected to rise due to the high prevalence of colorectal cancer and the rising need for screening.
The US market dominated the North America Colorectal Cancer Screening Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.6 billion by 2030. The Canada market is poised to grow at a CAGR of 6.6% during (2023 - 2030). Additionally, The Mexico market is would register a CAGR of 5.7% during (2023 - 2030).
Based on Type, the market is segmented into Colonoscopy, Stool-based (Fecal Immunochemical Test (FIT), Fecal Occult Blood Test (FOBT), and Stool-DNA Test), and Others. Based on End-user, the market is segmented into Government, Energy, Defense, Agriculture & Forestry, Media & Entertainment, Civil Engineering & Archaeology, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Colorectal Cancer Screening Market is Projected to reach USD 22.2 Billion by 2030, at a CAGR of 4.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novigenix SA, Eiken Chemical Co., Ltd., Clinical Genomics Pathology, Inc., Exact Sciences Corporation, Epigenomics AG, BioMerieux S.A., Olympus Corporation, Sysmex Corporation, Fujifilm Holdings Corporation, and Siemens Healthineers AG (Siemens AG).
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