Colorectal Cancer Market to Grow at a CAGR of 7.80% During 2024-2032, Aided by the Increasing Prevalence of Colorectal Cancer Across the 8 Major Markets

Colorectal Cancer Market Overview

Colorectal cancer is one of the most common types of cancer, affecting the colon or rectum. The risk of this cancer increases with age, with the incidence rate growing sharply for people over 50 years of age. Colorectal cancer ranks as the second leading  cause of cancer-related deaths as it is often diagnosed when the cancer has reached advanced stages, making the treatment options limited for the patient. Increased public health campaigns and awareness programs are leading to rising early diagnosis rates, which is expected to positively impact the colorectal cancer market growth. Further, the increasing preference for multi-modality treatments and targeted drug therapies is likely to influence the market dynamics. Moreover, the growth in funding for colorectal cancer research is poised to aid the market expansion in the forecast period.

Key Findings 

• The rate of new cases of colorectal cancer is estimated to be 36.5 for every 100,000 men  and women annually. Further, the lifetime risk of developing the disease is reported to be nearly 1 in 23 cases for men and 1 in 25  cases for women. The increasing burden of colorectal cancer is a major market driver.
• In June 2024 , Bristol Myers Squibb’s combination treatment, which includes the oral drug Krazati and cetuximab, was approved by the U.S. Food and Drug Administration (FDA) for the treatment of colorectal cancer with a specific gene mutation. The rise in drug approvals by the regulatory bodies is expected to elevate the market value in the forecast period.
• The expanding pipeline of new therapeutic drugs and the growing emphasis on the development of combination treatments are significant trends that are poised to shape the market landscape.

Colorectal Cancer Market Demand Drivers

The increasing number of colorectal cancer cases is one of the primary factors that is propelling the demand for effective treatment options. Recent data suggests that new cases of colorectal cancer will be around 152,810 in  the United States in 2024, accounting for 7.6% of all new cancer cases. Further, the estimated number of deaths caused by colorectal cancer in 2024 is reported to be 53,010, which is 8.7% of all cancer deaths. The substantial incidence of colorectal cancer is set to impact the market demand. Moreover, the growing elderly population which has a higher risk of developing the disease, is also contributing to increased demand for colorectal cancer diagnostics and treatments.

Colorectal Cancer Market Segmentation Analysis

The Treatment Type Segment is Poised to Witness Significant Growth in the Forecast Period

Based on the treatment type, the market segmentation includes chemotherapy, radiation therapy, immunotherapy, targeted drug therapy, and others. The market is witnessing a steady development of various immunotherapies and targeted drug therapies, which is likely to improve clinical outcomes and survival rates of colorectal cancer patients. Immunotherapy including drugs like nivolumab (immune checkpoint inhibitor) and pembrolizumab (a PD-1 Inhibitor) is increasingly used in cases where the cancer is microsatellite instability-high (MSI-H) or mismatch repair-deficient (dMMR), which is anticipated to boost the growth of the segment.

The market report also offers insights based on cancer type, end user, and region.

Colorectal Cancer Market: Competitive Landscape

• In June 2024 , 23andMe Holding Co. (California-based personal genomics and biotechnology company) and Colorectal Cancer Alliance (the largest colorectal cancer non-profit organization in the United States) entered into a strategic collaboration with the aim to advance colorectal cancer research in the Black/African American community.
• In April 2024 , European investment firm Medicxi Ventures made an investment of USD 40 million in D3 Bio, a China-based biotechnology company, which is expected to expedite the development of D3 Bio’s pipeline of oncology products including its lead asset DS3-001.
• Other players involved in the market include AstraZeneca, Pfizer, Inc., Novartis AG, Amgen Inc., F. Hoffmann-La Roche Ltd., GSK plc, Teva Pharmaceuticals Ltd., AbbVie Inc., and Eli Lilly and Company.

Colorectal Cancer Market Analysis by Region

The United States Dominates the Market Share

The market report offers insight into various geographical locations, including the United States, EU-4 (Germany, France, Italy, Spain), the United Kingdom, Japan, and India. The United States holds a high market value which can be attributed to the increasing prevalence of colorectal cancer and the substantial demand for effective therapies to treat the disease in the region. The market also benefits from the significant investments in research and development and the growing emphasis on the establishment of new combination therapies with higher efficacy and better safety profiles. Additionally, the presence of a favorable regulatory environment led by the United States Food and Drug Administration also impacts the market growth in the country.

Key Offerings of the Report

• The EMR report gives an overview of the global market for colorectal cancer for the time span of (2017-2023) and (2024-2032).
• The report also offers historical (2017-2023) and forecast (2024-2032) market information for the treatment type, cancer type, end user, and region of the market.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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