Europe Colorectal Cancer Diagnostics Market, By Product Type (Instruments, Consumables & Accessories), Test Type (Stool examination, Imaging Test, Biopsy, Blood Test, Tumour markers, Others), Cancer Type (Adenocarcinoma, Colorectal Lymphoma, Gastrointestinal Stromal Tumors, Carcinoid Tumors, and Others), Cancer Stages (Stage 0, Stage I, Stage II, Stage III, Stage IV), Age Group (Geriatric, Adults, and Paediatric), End User (Hospital, Diagnostic Centers, Cancer Research Centers, Ambulatory Surgical Centers, Academic Institutes, and Others) - Industry Trends and Forecast to 2030.
Europe Colorectal Cancer Diagnostics Market Analysis and Size
Increasing 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.
Data Bridge Market Research analyzes that the Europe colorectal cancer diagnostics market is expected to reach the value of USD 1,765.81 million by 2030, at a CAGR of 7.7% during the forecast period.
This market report also covers pricing analysis and technological advancements in depth.
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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 Million
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Segments Covered
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Product Type (Instruments, Consumables & Accessories), Test Type (Stool examination, Imaging Test, Biopsy, Blood Test, Tumour markers, Others), Cancer Type (Adenocarcinoma, Colorectal Lymphoma, Gastrointestinal Stromal Tumors, Carcinoid Tumors, and Others), Cancer Stages (Stage 0, Stage I, Stage II, Stage III, Stage IV), Age Group (Geriatric, Adults, and Paediatric), End User (Hospital, Diagnostic Centers, Cancer Research Centers, Ambulatory Surgical Centers, Academic Institutes, and Others)
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Countries Covered
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Germany, France, U.K, Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland and Rest of Europe
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Market Players Covered
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F. Hoffmann-La Roche Ltd., Abbott, Illumina, Inc. QIAGEN, Thermo Fisher Scientific Inc., QUEST DIAGNOSTICS INCORPORATED, Merck KGaA., Hologic, Inc., Siemens Healthcare GmbH, BD, Myriad Genetics, Inc., Koninklijke Philips N.V., PlexBio, FUJIFILM Corporation, CANON MEDICAL SYSTEMS CORPORATION., FONAR Corp., Medonica Co. LTD, MinFound Medical Systems Co., Ltd, Sternmed Gmbh, Bio-Rad Laboratories, Inc., Neusoft Corporation, BioFire Diagnostics, Agilent Technologies, Inc. and among others
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Market Definition
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. 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. The colon is the large intestine or large bowel. The rectum is the passageway that connects the colon to the anus.
Sometimes abnormal growths, called polyps, form in the colon or rectum. Over time, some polyps may turn into cancer. Screening tests can find polyps so they can be removed before becoming cancer. Screening also helps find colorectal cancer early, when the treatment works best.
Europe Colorectal Cancer Diagnostics Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Growing 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.
People affected with colorectal cancer can see symptoms such as a persistent change in bowel habits, including diarrhea or constipation or a change in the consistency of the stool, rectal bleeding or blood in the stool, persistent abdominal discomfort, such as cramps, gas or pain, a feeling that the bowel doesn't empty completely, weakness or fatigue, unexplained weight loss.
- Rise in the Number of Patients Suffering from Diverticulitis and Ulcerative Colitis
Diverticulitis refers to inflammation of the diverticula, which are small pouches that form in the colon lining. Ulcerative colitis (UC) is an inflammatory bowel disease (IBD) where people develop inflammation and ulcers in the lining of the large intestine. Treatment options include antibiotics, a temporary, clear liquid diet, pain relief medication, and surgery to remove part of the colon for a few cases only.
Opportunity
- Rise in Healthcare Expenditure for Cancer Diagnosis and Treatment
Across the globe, research and development activities are escalating owing to the public health expenditure with economic performances. Rising healthcare expenditure could result in better provision of research and development opportunities. Increasing the healthcare expenditure for cancer treatment also helps the patient take hassle-free advanced diagnostics and treatment for fast recovery. The spending on healthcare is made up of the combination of out-of-pocket payments (people paying for their care), government expenditure, and various sources such as different healthcare schemes published by the government in different regions. It also includes health insurance and activities by non-governmental organizations. This increasing healthcare expenditure for cancer treatment is an opportunity for the market demand.
Restraint / Challenge
- 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. However, their approval and marketing in multiple regions across the globe require a meeting of stringent regulatory standards and acceptance by various regulatory bodies.
Recent Developments
• In December 2022, Quest Diagnostics, the world's leading provider of diagnostic information services, and Northern Light Health, a large integrated healthcare system in Maine, announced a strategic laboratory collaboration designed to broaden access to innovative, quality, and cost-effective laboratory services powering affordable care for communities in Maine.
• In November 2022, Abbott was recognized by the Consumer Technology Association (CTA) with three CES 2023 Innovation Awards for its life-changing technologies that are advancing the health tech industry and improving the lives of people worldwide. The CTA is the organization behind the Consumer Electronics Show (CES), the most influential technology event in the world.
Europe Colorectal Cancer Diagnostics Market Scope
Europe colorectal cancer diagnostics market is segmented into product type, test type, cancer type, cancer stages, age group, and end user. 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.
Product Type
- Instruments
- Consumables & Accessories
On the basis of product type, the Europe colorectal cancer diagnostics market is segmented into instruments, and consumables & accessories.
Test Type
- Stool Examination
- Imaging Test
- Tumor Markers
- Blood Test
- Biopsy
- Others
On the basis of test type, the Europe colorectal cancer diagnostics market is segmented into stool examination, imaging test, blood test, biopsy, tumor markers, and others.
Cancer Type
- Adenocarcinoma
- Colorectal Lymphoma
- Gastrointestinal Stromal Tumors
- Carcinoid Tumors
- Others
On the basis of cancer type, the Europe colorectal cancer diagnostics market is segmented into adenocarcinoma, colorectal lymphoma, gastrointestinal stromal tumors, carcinoid tumors, and others.
Cancer Stages
- Stage 0
- Stage I
- Stage II
- Stage III
- Stage IV
On the basis of cancer stages, the Europe colorectal cancer diagnostics market is segmented into stage I, stage II, stage III, and stage IV.
Age Group
- Geriatric
- Adults
- Pediatric
On the basis of age group, the Europe colorectal cancer diagnostics market is segmented into geriatric, adults, and pediatric.
End User
- Hospitals
- Diagnostic Centers
- Cancer Research Centers
- Ambulatory Surgical Centers
- Academic Institutes
- Others
On the basis of end user, the Europe colorectal cancer diagnostics market is segmented into hospitals, diagnostic centers, cancer research centers, ambulatory surgical centers, academic institutes, and others.
Europe Colorectal Cancer Diagnostics Market Regional Analysis/Insights
Europe colorectal cancer diagnostics market is segmented into product type, test type, cancer type, cancer stages, age group, and end user.
The countries covered in this market report are Germany, France, U.K, Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland and Rest of Europe.
Germany is expected to dominate the market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the rising incidence and prevalence of colorectal nodules and cancer.
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 regional 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 Europe Colorectal Cancer Diagnostics Market Share Analysis
The Europe 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, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Europe colorectal cancer diagnostics market.
Some of the major players operating in the Europe colorectal cancer diagnostics market are F. Hoffmann-La Roche Ltd., Abbott, Illumina, Inc. QIAGEN, Thermo Fisher Scientific Inc., QUEST DIAGNOSTICS INCORPORATED, Merck KGaA., Hologic, Inc., Siemens Healthcare GmbH, BD, Myriad Genetics, Inc., Koninklijke Philips N.V., PlexBio, FUJIFILM Corporation, CANON MEDICAL SYSTEMS CORPORATION., FONAR Corp., Medonica Co. LTD, MinFound Medical Systems Co., Ltd, Sternmed Gmbh, Bio-Rad Laboratories, Inc., Neusoft Corporation, BioFire Diagnostics, Agilent Technologies, Inc. and among others.
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