June 21, 2024
U.S. Colorectal Cancer Screening Market

Colorectal Cancer Screening Market in U.S. Primed for Growth by Rising Disease Incidence

Colorectal cancer screening in the U.S plays a vital role in early disease detection and prevention. These screenings detect pre-cancerous polyps in the colon and rectum that can be removed before turning cancerous, as well as catching any cancer at the earliest and most treatable stage. Fecal immunochemical test (FIT) kits, molecular diagnostic tests, colonoscopies and sigmoidoscopies are commonly used colorectal cancer screening methods in the U.S. Rapid and accurate FIT kits see increasing uptake for their non-invasive nature and ability to detect hidden blood in stool samples. The rising disease incidence rate coupled with growing awareness on screening benefits is fueling the demand for colorectal cancer screening services and products across the U.S.

The Global Colorectal Cancer Screening Market Size in U.S. 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 market are Polymedco Inc., Eiken Chemical Co. Ltd., Sysmex Corporation, Quidel Corporation, Novigenix SA and Among Others. These players are adopting new product launches, collaborations and geographic expansions to consolidate their market positions. Growing awareness programs by cancer foundations and endorsements from medical bodies are fueling the demand for colorectal cancer screenings across various age groups in the U.S. The rising incidence of colorectal cancer cases in the country is further propelling the need for widespread screening adoption. The U.S. market is poised to benefit from regulatory approvals and reimbursement policies supporting colorectal cancer screening tests.

Additionally, several states have passed legislation mandating insurance coverage for colorectal cancer screening, which is expected to boost market revenue. The U.S dominates the global colorectal cancer screening market and ongoing product innovations to introduce non-invasive and patient-friendly screening solutions will further aid its market expansion.

Market Key Trends

Non-invasive screening tests see increased patient preference in the U.S. Fecal immunochemical tests (FIT) are rapidly gaining popularity for their ease of use and quick turnaround time. Advanced FIT kits with high sensitivity enable accurate detection of tiny amounts of blood in stool samples without requiring dietary or medication restrictions. This drives their increased adoption over traditional guaiac fecal occult blood tests (gFOBT). Growing preference for screening from the comfort of home and recent approval of over-the-counter FIT kits are further fueling the non-invasive screening trend in the U.S. colorectal cancer screening market.

Porter’s Analysis

Threat Of New Entrants: Low barrier to entry due to stringent FDA approval process for new entrants.

Bargaining Power Of Buyers: Buyers have moderate bargaining power due to availability of alternative screening tests.

Bargaining Power Of Suppliers: Suppliers have moderate bargaining power due to availability of substitutes and focus on innovation.

Threat Of New Substitutes: Threat of new substitutes is moderate as new non-invasive screening tests are emerging.

Competitive Rivalry: Intense rivalry among existing players to gain higher market share through new product launches and strategic collaborations.

Geographical Regions

North America accounts for the largest share in the U.S. colorectal cancer screening market in terms of value. This is attributed to factors such as rising incidence of colorectal cancer, growing number of screening programs by various government and non-government bodies, and strong demand for advanced screening tests.

The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to growing awareness about early cancer detection, improving healthcare infrastructure, and increasing focus of key players on emerging Asian markets. Rising healthcare expenditure, rapid economic development, large population base are some other factors expected to support market growth in the region.

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 Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the U.S. Colorectal Cancer Screening Market 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 Market 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 Market vendors

FAQ’S

Q.1 What are the main factors influencing the U.S. Colorectal Cancer Screening market?

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 Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the U.S. Colorectal Cancer Screening market’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?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it