Asia-Pacific Colorectal Cancer Diagnostics Market, By Test Type (Stool Examination, Imaging Test, Biopsy, Blood Test, and Others), Product Type (Instruments and Kits and Reagents), Cancer Stages (Stage 0, Stage I, Stage II, Stage III, and Stage IV), Cancer Type (Adenocarcinoma, Colorectal Lymphoma, Gastrointestinal Stromal Tumors, Carcinoid Tumors, leiomyosarcomas, melanomas, and Others), Age Group (Geriatric, Adults, and Pediatric), End User (Hospital, Diagnostic Centers, Cancer Research Centers, Ambulatory Surgical Centers, Academic Institutes, and Others), Distribution Channel (Direct Tender, Retail Sales and Online Sales) - Industry Trends and Forecast to 2030.
Asia-Pacific Colorectal Cancer Diagnostics Market Analysis and Insights
Increasing Asia-Pacific awareness about colorectal cancer has enhanced the market demand. The rising healthcare expenditure for better health services also contributes to the market's growth. The major market players focus on various service launches and approvals during this crucial period. In addition, the increase in improved diagnostic processes and techniques also contributes to the rising demand for colorectal cancer diagnostics testing.
The Asia-Pacific colorectal cancer diagnostics market is expected to grow in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 9.0% in the forecast period of 2023 to 2030 and is expected to reach USD 1,056,573.99 thousand by 2030 from USD 530,001.39 thousand in 2022.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Test Type (Stool Examination, Imaging Test, Biopsy, Blood Test, and Others), Product Type (Instruments and Kits and Reagents), Cancer Stages (Stage 0, Stage I, Stage II, Stage III, and Stage IV), Cancer Type (Adenocarcinoma, Colorectal Lymphoma, Gastrointestinal Stromal Tumors, Carcinoid Tumors, leiomyosarcomas, melanomas, and Others), Age Group (Geriatric, Adults, and Pediatric), End User (Hospital, Diagnostic Centers, Cancer Research Centers, Ambulatory Surgical Centers, Academic Institutes, and Others), Distribution Channel (Direct Tender, Retail Sales and Online Sales)
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Countries Covered
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China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, and Rest of Asia-Pacific
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Market Players Covered
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F. Hoffmann-La Roche Ltd. (Switzerland), Illumina, Inc. (U.S.), QIAGEN(U.S.), Thermo Fisher Scientific Inc. (U.S.), Quest Diagnostics Incorporated, Inc. (U.S.), Siemens Healthcare GmbH (Germany), Myriad Genetics, Inc. (U.S.), Koninklijke Philips N.V. (Netherland), FUJIFILM Corporation (Japan), CANON MEDICAL SYSTEMS CORPORATION (Japan), Bio-Rad Laboratories, Inc. (U.S.), Neusoft Corporation (China), Exact Sciences Corporation(U.S.), bioMérieux SA (France), Sysmex Asia Pacific Pte Ltd (Singapore), GE HealthCare (U.S.), Medtronic(Ireland) and Agilent Technologies, Inc. (U.S.), among others.
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Market Definition of Asia-Pacific Colorectal Cancer Diagnostics Market
Colorectal cancer starts in the colon or the rectum. Depending on where they start, these cancers can also be called colon cancer or rectal cancer. Colon cancer and rectal cancer are often grouped because they have many features in common. Colorectal cancer is a disease in which cells in the colon or rectum grow out of control. Sometimes it is called colon cancer for short. The colon is the large intestine or large bowel. The rectum is the passageway that connects the colon to the anus.
The Asia-Pacific colorectal cancer diagnostics market is expected to grow in the forecast year due to the rise in market players and the availability of advanced services. Along with this, manufacturers are engaged in R&D activity for launching novel services in the market. The increasing research in the field of colorectal cancer diagnosis and development is further boosting the market growth. However, difficulties in colorectal cancer screening techniques might hamper the growth of the Asia-Pacific colorectal cancer diagnostics market in the forecast period.
Asia-Pacific Colorectal Cancer Diagnostics Market Dynamics
This section deals with understanding the market drivers, advantages, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Growth in the prevalence of colorectal cancer
The big intestine is where colon cancer typically first manifests itself (colon). The digestive system ends with the colon. Colon cancer can strike anyone at any age, but it often strikes older persons. Small, benign (noncancerous) cell clusters called polyps commonly grow on the interior of the colon as the first signs of the condition. Some of these polyps may eventually develop into colon cancer.
Due to various risk factors, colorectal cancer incidences have been rising in the region, becoming a significant socio-economic issue. This is expected to act as a driver in the Asia-Pacific colorectal cancer diagnostics market growth.
- Rising preference for preventive health check-ups
Preventive health check-up is preventive actions performed for the initial detection of cancer disease, and also rising preference for preventive health check-ups provide a safeguard against likely exposure to any disease in the future.
Awareness to promote screening is the most important component of cancer prevention. The check-up is comprised of the identification of cancer and examinations of risk factors to limit loss at an early stage.
Preventive cancer check-up is performed with the help of various diagnostic tests, including ultrasound, biopsy, immunohistochemistry, colorectal antibody test, and blood test (TSH, T3 and T4, TSI), among others.
Restraint
- Stringent regulatory policies
Regulation of drugs plays a significant role in healthcare. Achieving the requisite approval for legal selling medical devices or medications in such jurisdictions can entail substantial financial expenditure, which could take months or years to complete. If these constraints are not understood or taken into account, delays can seriously jeopardize the likelihood of success in a highly competitive market. The biologics such as vaccines, blood and blood components, allergenic, somatic cells, gene therapy, tissues, and recombinant therapeutic proteins, among others, are of significant importance for treating various diseases. But their approval and marketing in multiple regions across the globe require a meeting of stringent regulatory standards and acceptance by various regulatory bodies.
Opportunities
- Increased demand for non-invasive testing methods
The rising demand for non-invasive testing methods in colorectal cancer diagnosis presents promising opportunities for the Asia-Pacific colorectal cancer diagnostics market. Non-invasive tests offer an attractive alternative to invasive procedures like colonoscopy, as they are more patient-friendly, less intimidating, and often do not require anaesthesia or specialized facilities. This appeals to individuals who may have been reluctant to undergo traditional screenings, leading to an expanded market and increased patient participation in regular screenings. Early detection of colorectal cancer through non-invasive tests can significantly improve patient outcomes by enabling timely treatment interventions and potentially higher survival rates. Moreover, these tests are well-suited for remote and underserved areas, as they can be easily administered in primary care settings, addressing accessibility challenges and promoting healthcare equity. With growing public health initiatives and continuous advancements in non-invasive diagnostic technologies, the Asia-Pacific colorectal cancer diagnostics market is poised to play a vital role in enhancing early detection, patient compliance, and overall management of colorectal cancer in the region.
- Strategic initiatives by market players
Increasing rates of various types of cancer disease and their severity are widely seen among people. The dramatic rise in the quality of research coupled with increasing research opportunities is because of various strategic initiatives taken by the market players. They are taking initiatives such as product launch, collaborations, mergers, acquisitions, and many more over the years and is expected to lead and create more opportunities in the market.
These strategic product launches, acquisitions, and mergers done by major companies in the colorectal cancer diagnostic market have opened up opportunities for companies in various regions. These strategies allow the companies to strengthen their footprints in the market. Therefore, it is predicted that strategic initiative is the golden opportunity for the market players to accelerate their revenue growth in the market.
Challenge
- Late colorectal cancer diagnosis and poor prognosis
Late colorectal cancer diagnosis acts as a significant challenge in the management of the disease. When colorectal cancer is diagnosed at an advanced stage, treatment becomes more complex, and the chances of successful outcomes are reduced. Delayed diagnosis often leads to cancer spreading to nearby tissues or distant organs, making it less amenable to curative interventions. This poses challenges in developing effective treatment plans, increases the risk of complications, and may limit the available treatment options. Additionally, late-stage colorectal cancer can lead to poorer patient prognoses, reduced quality of life, and higher healthcare costs.
Recent Developments
- In August 2022, F. Hoffmann-La Roche Ltd, announced the launch of the Digital LightCycler System, Roche’s first digital polymerase chain reaction (PCR) system. This next-generation system detects disease and is designed to accurately quantify trace amounts of specific DNA and RNA targets not typically detectable by conventional PCR methods. This has helped the company to increase its Asia-Pacific presence in the market.
Asia-Pacific Colorectal Cancer Diagnostics Market Scope
Asia-Pacific colorectal cancer diagnostics market is segmented into test type, product type, cancer stages, age group, cancer type, end user, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Test Type
- Stool Examination
- Blood Test
- Imaging Test
- Biopsy
- Others
On the basis of test type, the Asia-Pacific colorectal cancer diagnostics market is segmented into stool examination, imaging test, blood test, biopsy, and others.
Product Type
- Instruments
- Kits and Reagents
On the basis of product type, the Asia-Pacific colorectal cancer diagnostics market is segmented into instruments and kits and reagents.
Cancer Type
- Adenocarcinoma
- Colorectal Lymphoma
- Gastrointestinal Stromal Tumors
- Carcinoid Tumors
- Leiomyosarcomas
- Melanomas
- Others
On the basis of cancer type, the Asia-Pacific colorectal cancer diagnostics market is segmented into adenocarcinoma, colorectal lymphoma, gastrointestinal stromal tumors, carcinoid tumors, leiomyosarcomas, melanomas, and others.
Cancer Stages
- Stage III
- Stage IV
- Stage II
- Stage I
- Stage 0
On the basis of stages, the Asia-Pacific colorectal cancer diagnostics market is segmented into stage 0, stage I, stage II, stage III, and stage IV.
Age Group
- Geriatric
- Adults
- Pediatric
On the basis of age group, the Asia-Pacific colorectal cancer diagnostics market is segmented into geriatric, adults, and pediatric.
End User
- Hospitals
- Diagnostic Centers
- Cancer Research Centers
- Ambulatory Surgical Center
- Academic Institutes
- Others
On the basis of end user, the Asia-Pacific colorectal cancer diagnostics market is segmented into hospital, diagnostic centers, cancer research centers, ambulatory surgical centers, academic institutes, and others.
Distribution Channel
- Direct Tender
- Retail Sales
- Online Sales
On the basis of distribution channel, the Asia-Pacific colorectal cancer diagnostics market is segmented into direct tender, retail sales, and online sales.
Asia-Pacific Colorectal Cancer Diagnostics Market Regional Analysis/Insights
Asia-Pacific colorectal cancer diagnostics market is analyzed, and market size insights and trends are provided by country, product type, test type, cancer type, cancer stages, age group, end user, and distribution channel as referenced above.
The countries covered in this market report are Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, and Rest of Asia-Pacific
China is expected to dominate the Asia-Pacific colorectal cancer diagnostics market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to a rising preference for preventive health check-ups.
The country section of the report also provides individual market-impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of Global brands and their challenges faced due to competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Colorectal Cancer Diagnostics Market Share Analysis
The colorectal cancer diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the colorectal cancer diagnostics market.
Some of the major players operating in the Asia-Pacific colorectal cancer diagnostics market are, F. Hoffmann-La Roche Ltd. (Switzerland), Illumina, Inc. (U.S.), QIAGEN(U.S.), Thermo Fisher Scientific Inc. (U.S.), Quest Diagnostics Incorporated, Inc. (U.S.), Siemens Healthcare GmbH (Germany), Myriad Genetics, Inc. (U.S.), Koninklijke Philips N.V. (Netherland), FUJIFILM Corporation (Japan), CANON MEDICAL SYSTEMS CORPORATION (Japan), Bio-Rad Laboratories, Inc. (U.S.), Neusoft Corporation (China), Exact Sciences Corporation(U.S.), bioMérieux SA (France), Sysmex Asia Pacific Pte Ltd (Singapore), GE HealthCare(U.S.), Medtronic(Ireland) and Agilent Technologies, Inc. (U.S.), among others.
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