As per the current market research conducted by the CMI Team, the global Colorectal Cancer Market size is expected to record a CAGR of 3.4% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 22,275.3 Million. By 2033, the valuation is anticipated to reach USD 30,095.9 Million.
Colorectal Cancer Market: Growth Factors and Dynamics
- Increasing Incidence and Prevalence: Colorectal cancer is one of the most prevalent cancers worldwide, with its incidence increasing globally. Factors such as aging populations, sedentary lifestyles, unhealthy dietary habits, and rising obesity rates contribute to the growing burden of colorectal cancer.
- Advancements in Screening and Early Detection: The development and adoption of advanced screening methods such as colonoscopies, fecal occult blood tests (FOBT), fecal immunochemical tests (FIT), and genetic testing have improved early detection rates. Early detection allows for timely intervention and better treatment outcomes, thereby driving market growth.
- Emergence of Targeted Therapies: The colorectal cancer market has witnessed significant advancements in targeted therapies, particularly for patients with specific molecular characteristics such as RAS or BRAF mutations. Drugs targeting these molecular alterations, such as EGFR inhibitors and BRAF inhibitors, have shown efficacy in subsets of patients, fueling market growth.
- Immunotherapy Revolution: Immunotherapy, particularly immune checkpoint inhibitors targeting programmed cell death protein 1 (PD-1) or programmed death-ligand 1 (PD-L1), has transformed the treatment landscape for colorectal cancer. Checkpoint inhibitors have demonstrated promising results, especially in patients with microsatellite instability-high (MSI-H) tumors, leading to increased adoption and market expansion.
- Rising Healthcare Expenditure: Increased healthcare spending, especially in developed regions, supports investments in research and development efforts for new colorectal cancer treatments. Moreover, improvements in healthcare infrastructure, access to innovative therapies, and reimbursement policies contribute to market growth.
- Strategic Collaborations and Partnerships: Collaboration among pharmaceutical companies, academic institutions, and research organizations fosters innovation and accelerates the development of novel therapies and diagnostic tools. Partnerships facilitate the sharing of resources, expertise, and technology, driving the colorectal cancer market forward.
Get Free Sample Copy @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=45621
Colorectal Cancer Market: Partnership and Acquisitions
- In 2022, Chugai Pharmaceutical Co., Ltd. received regulatory approval from the Ministry of Health, Labour and Welfare (MHLW) for the anti-HER2 monoclonal antibodies Perjeta and Herceptin, expanding their indications to include advanced or recurrent HER2-positive colon or rectal cancer not suitable for curative resection after chemotherapy.
- In 2022, Seagen’s partnership with Pfizer’s Array BioPharma involves the manufacture, development, and sale of Tukysa, a medication for breast and colorectal cancer. This collaboration strengthens Seagen’s position in the oncology market and expands treatment options for cancer patients.
Colorectal Cancer Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the Colorectal Cancer Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Delayed Diagnosis and Treatment: During the peak of the COVID-19 pandemic, many healthcare systems prioritized resources for managing COVID-19 patients, leading to disruptions in routine screenings, diagnostic procedures, and treatment services for colorectal cancer. This delay in diagnosis and treatment initiation could result in more advanced stages of cancer at presentation, potentially impacting patient outcomes.
- Supply Chain Disruptions and Clinical Trials: Supply chain disruptions and restrictions on non-essential activities hindered the conduct of clinical trials and the availability of investigational drugs for colorectal cancer. Delays in patient enrollment, protocol deviations, and interruptions in trial procedures affected the advancement of novel therapies and research efforts in the field.
- Resumption of Screening and Diagnostic Services: As COVID-19 vaccination rates increase and healthcare systems stabilize, there’s a concerted effort to resume routine colorectal cancer screenings, diagnostic procedures, and treatment services. Health authorities and medical organizations are promoting awareness campaigns to encourage individuals to prioritize preventive screenings and seek medical attention for concerning symptoms.
- Telemedicine and Remote Monitoring: The adoption of telemedicine and remote monitoring technologies surged during the pandemic to facilitate virtual consultations, follow-up appointments, and patient monitoring. Incorporating telehealth into colorectal cancer care allows for continuity of care while minimizing the risk of exposure to infectious agents.
List of the prominent players in the Colorectal Cancer Market:
- Hoffmann-La Roche Ltd
- Merck & Co. Inc.
- Bayer AG
- Amgen Inc.
- Bristol Myers Squibb Company
- Eli Lilly and Company
- Novartis International AG
- AstraZeneca PLC
- Pfizer Inc.
- Sanofi
- Takeda Pharmaceutical Company Limited
- AbbVie Inc.
- Boehringer Ingelheim International GmbH
- Daiichi Sankyo Company Limited
- Johnson & Johnson
- Others
Table of Contents: https://www.custommarketinsights.com/report/colorectal-cancer-market/#table-of-contents
Read More@
https://www.linkedin.com/pulse/latestglobal-electric-powertrain-market-size-forecast-wankhade-44p1f/
https://www.linkedin.com/pulse/according-cmi-global-electric-rickshaw-battery-market-wankhade-hic7f/
About Us:
Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
Contact Us:
USA Corporate Office
CMI Consulting LLC
1333, 701 Tillery Street Unit 12, Austin, TX, Travis, US, 78702
Sales & Support +1 801 639 9061
Email : support@custommarketinsights.com
Website : https://www.custommarketinsights.com/