Global Colorectal Cancer Screening Market Set For 6.2% Growth, Reaching $19.83 Billion By 2028

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Have you noticed the robust growth in the colorectal cancer screening market recently?
The Colorectal Cancer Screening Market size has surged, growing from $14.72 billion in 2023 to an expected $15.61 billion in 2024, reflecting a Compound Annual Growth Rate CAGR of 6.1%. This remarkable historic growth has been driven by an increasing incidence of colorectal cancer, intensified government awareness campaigns, the reality of an aging population, the growing adoption of colonoscopy, and improved insurance coverage.

Intriguingly, the colorectal cancer screening market size is anticipated to see even more vigorous growth in the next few years. Forecasts expect the market to grow to a staggering $19.83 billion in 2028, at a Compound Annual Growth Rate CAGR of 6.2%. This surge in the forecast period can be attributed to several factors. These include a shift towards non-invasive screening methods, a rise in home-based screening tests, a growing prevalence of obesity, rising adoption of value-based healthcare, and increased public-private partnerships.

Examine the comprehensive data on the market size with a detailed sample report: https://www.thebusinessresearchcompany.com/sample.aspx?id=19008&type=smp

But what are some of the key colorectal cancer screening market drivers?

We found that the rise in the number of dental diseases is expected to spur the growth of the computer-aided design CAD or computer-aided manufacturing CAM dental milling machine markets. Dental diseases refer to a range of conditions affecting the teeth, gums, and oral tissues, including cavities, gum disease, and oral infections. The uptick in dental diseases can largely be attributed to poor oral hygiene habits and the rising consumption of sugary food items and beverages.

Now, remember those advancements in CAD or CAM dental milling machines. They have significantly improved the precision involved in creating dental restorations, reducing the likelihood of fitting issues and complications. In March 2023, the World Health Organization noted that nearly 3.5 billion people globally suffer from oral diseases, with three-quarters residing in middle-income countries. This substantiates the crucial role of dental diseases as a driver of the computer-aided design CAD or computer-aided manufacturing CAM dental milling machine market.

In the vibrant and dynamic landscape of the colorectal cancer screening market, numerous companies are making their mark. These companies are focusing on developing innovative solutions like non-invasive multi-target stool ribonucleic acid RNA colorectal cancer screening tests. Such solutions provide an accessible, effective method for early detection of colorectal cancer, thereby improving patient outcomes and encouraging wider screening participation.

A prime example of this innovation is Geneoscopy Inc., a U.S.-based life sciences company, which announced the U.S. Food and Drug Administration FDA approval of ColoSense in May 2024. ColoSense uses RNA biomarkers for a non-invasive, stool-based screening process that demonstrated 93% sensitivity for detecting colorectal cancer and 45% sensitivity for advanced adenomas. Its accuracy, potential to draw in younger populations, and offering of a less invasive alternative to traditional methods signals its potential to significantly increase screening rates.

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What are the key segments in the colorectal cancer screening market?

1 By Type: Stool-Based, Fecal Immunochemical Test FIT, Fecal Occult Blood Test FOBT, Stool Deoxyribonucleic Acid DNA Test, Colonoscopy, Other Types
2 By Age Group: Below 50 Years, 50-64 Years, Above 65 Years
3 By End User: Hospitals And Clinics, Clinical Laboratories, Diagnostic Imaging Centers, Other End-Users
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