North America Colorectal Cancer Diagnostics Market to Reach $6.62 Billion by 2028, Growing at 8.9% CAGR
The North America colorectal cancer diagnostics market was valued at 4,315.86 million in 2023 and is projected to expand to 4,315.86 million in 2023 and is projected to expand to 6,621.26 million by 2028, growing at a compound annual growth rate (CAGR) of 8.9% during the forecast period.
📚𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 – https://www.businessmarketinsights.com/sample/BMIRE00028834
Key Growth Driver: Advancements in Diagnostic Technologies
The market is being propelled by innovative product launches aimed at improving early detection and treatment of colorectal cancer (CRC) and related conditions such as colon polyps, Crohn’s disease, and irritable bowel syndrome (IBS). Leading companies are integrating artificial intelligence (AI) and advanced imaging technologies to enhance diagnostic accuracy and efficiency.
Recent Developments Fueling Market Expansion:
- July 2022: US Digestive Health (USDH) introduced AI-assisted colonoscopy screenings using Genious Intelligent GI endoscopy modules, enabling real-time detection of precancerous polyps. This initiative expanded access to advanced CRC diagnostics across Pennsylvania.
- September 2020: Olympus Corporation launched ENDO-AID, an AI-powered endoscopic platform featuring computer-aided detection (CADe), which identifies suspicious lesions in real time during colonoscopies.
These innovations are transforming CRC diagnostics, improving detection rates, and supporting market growth. With ongoing technological advancements and increasing adoption of AI in gastroenterology, the North American CRC diagnostics market is poised for significant expansion through 2028.
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North America Colorectal Cancer Diagnostics Market Overview (Short Version):
The North America colorectal cancer diagnostics market, covering the US, Canada, and Mexico, is expected to grow due to rising colorectal cancer cases and enhanced screening efforts. In the US alone, an estimated 153,020 new cases were reported in 2023. While older adults are most affected, rates are rising among younger populations. The lifetime risk is approximately 1 in 22 for men and 1 in 24 for women. Improved screening, such as the revised recommendation to start at age 45, and better treatment options have led to a decline in mortality. Organizations like the Colorectal Cancer Alliance and federal research funding continue to drive innovation, further supporting market growth.
Strategic Insights: North America Colorectal Cancer Diagnostics
Strategic insights into the North American colorectal cancer diagnostics market offer a comprehensive, data-driven analysis of the current industry landscape. These insights highlight emerging trends, leading players, and region-specific dynamics, providing stakeholders with the tools to stand out in a competitive environment. By identifying underserved market segments and crafting distinct value propositions, businesses can uncover new growth opportunities.
Backed by robust data analytics, these insights enable investors, manufacturers, and other stakeholders to anticipate market developments and adapt their strategies accordingly. A forward-looking approach ensures long-term positioning and resilience in this rapidly evolving sector. Ultimately, these strategic insights support informed decision-making, drive profitability, and help organizations achieve their goals in the North American colorectal cancer diagnostics market.
North America Colorectal Cancer Diagnostics Regional Insights
The geographic scope of the North America Colorectal Cancer Diagnostics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
North America Colorectal Cancer Diagnostics Market Segmentation
| Segment | Categories |
| Modality | Imaging Tests: Colonoscopy, CT Colonography, Flexible Sigmoidoscopy, Capsule Endoscopy, Others Stool-based Tests: FIT, gFOBT, Stool DNA Test |
| End User | Hospitals, Diagnostic Laboratories, Cancer Research Institutes, Others |
| Country | US, Canada, Mexico |
| Key Companies | Medtronic, Illumina, Clinical Genomics, EDP Biotech, Epigenomics AG, Roche, Quest Diagnostics, Siemens Healthineers, Bruker, Eiken Chemical |
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
