North America Colorectal Cancer Diagnostics Market Outlook (2023–2028)
The North America colorectal cancer diagnostics market was valued at US$ 4,315.86 million in 2023 and is projected to reach US$ 6,621.26 million by 2028, growing at a compound annual growth rate (CAGR) of 8.9% during the forecast period. Market growth is fueled by continuous technological advancements and the launch of innovative diagnostic products aimed at improving early detection and treatment outcomes.
Key Market Drivers
- Product Innovation and AI Integration:
Leading manufacturers in the colorectal cancer diagnostics space are focusing on developing advanced technologies to ease the burden of colorectal conditions such as colon polyps, Crohn’s disease, colitis, and irritable bowel syndrome. In July 2022, US Digestive Health (USDH) commercialized AI-assisted colonoscopy screenings through the installation of Genious Intelligent GI endoscopy modules. These AI-powered systems enhance real-time identification of hard-to-detect, potentially cancerous polyps. Similarly, in September 2020, Olympus Corporation launched ENDO-AID—an AI-driven platform with the ENDO-AID CADe application designed for computer-aided detection of colorectal abnormalities during endoscopy. These innovations significantly contribute to the accuracy and efficiency of diagnostic procedures, driving market growth.📚Download Full PDF Sample Copy of Market Report @
https://www.businessmarketinsights.com/sample/BMIRE00028834Market leaders and key company profiles
Bruker Corp
Clinical Genomics Technologies Pty Ltd
EDP Biotech Corp
Eiken Chemical Co., Ltd.
Epigenomics AG
F. Hoffmann-La Roche Ltd
Illumina Inc
Medtronic Plc
Quest Diagnostics Inc
Siemens Healthineers AG
- Rising Incidence and Early-Onset Cases:
Colorectal cancer remains one of the most common cancers in North America. In the US alone, approximately 153,020 new cases were expected in 2023, including 106,970 colon cancer and 46,050 rectal cancer diagnoses. Although predominantly affecting older adults, incidence rates are increasing among younger populations, emphasizing the need for early and routine screening. - Improved Screening Guidelines and Awareness:
Enhanced awareness and updated screening guidelines are critical to market expansion. In 2021, the US Preventive Services Task Force lowered the recommended screening age for average-risk adults from 50 to 45 years. The American Cancer Society also promotes routine screening through either high-sensitivity stool-based tests or visual exams. These efforts aim to reduce mortality by enabling early detection and intervention. - Government Support and Research Funding:
Governments across North America continue to invest in colorectal cancer research. The US, in particular, has seen robust support through initiatives like the Colorectal Cancer Alliance, the world’s largest nonprofit dedicated to the cause. In 2020, the organization provided over US$ 1.1 million in research grants to individual scientists. Such funding enhances innovation in diagnostics and treatment methods.
Regional Insights
The market is segmented into the US, Canada, and Mexico, with the US holding the largest share due to its advanced healthcare infrastructure and high colorectal cancer burden. Over 600,000 colorectal-related surgeries were performed in the US in 2022 alone, indicating the scale of disease management. Moreover, improved screening practices have led to a consistent decline in mortality rates over the past two decades, with five-year survival rates for localized colon and rectal cancers at 91% and 90%, respectively.
North America Colorectal Cancer Diagnostics Strategic Insights
Strategic insights for the North America Colorectal Cancer Diagnostics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the 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
The North America colorectal cancer diagnostics market is segmented by modality, end user, and country.
By Modality:
The market is categorized into imaging tests and stool-based tests. In 2023, imaging tests dominated the market, holding the largest share. This segment is further divided into:
- Colonoscopy
- CT colonography
- Flexible sigmoidoscopy
- Capsule endoscopy
- Others
The stool-based tests segment is subsegmented into:
- Fecal immunochemical test (FIT)
- Guaiac-based fecal occult blood test (gFOBT)
- Stool DNA test
By End User:
The market is segmented into:
- Hospitals
- Diagnostic laboratories
- Cancer research institutes
- Others
Hospitals held the largest market share in 2023, reflecting their critical role in early diagnosis and screening.
By Country:
Geographically, the market is segmented into:
- United States
- Canada
- Mexico
In 2023, the United States led the market, accounting for the highest share among North American countries.
Conclusion
The North America colorectal cancer diagnostics market is poised for strong growth, driven by technological breakthroughs, favorable government policies, increasing awareness, and rising incidence rates. Continuous product development—particularly AI-enabled diagnostic solutions—combined with early screening initiatives and research funding, will be instrumental in shaping the market’s trajectory through 2028.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
