Colorectal Cancer Market Size, Share, Trends, Growth and Forecast 2032

Colorectal Cancer Industry Prospective:

The global colorectal cancer market size was evaluated at $13 billion in 2023 and is slated to hit $20 billion by the end of 2032 with a CAGR of nearly 5% between 2024 and 2032.

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Colorectal Cancer Market: Overview

Colorectal cancer, which is also referred to as bowel cancer, rectal cancer, and colon cancer, takes place in the rectum or colon. For the record, it is the second leading cause of death due to cancer in the U.S. Moreover, this kind of cancer occurs through a growth referred to as a polyp taking place in the interior side of the colon. Reportedly, colorectal cancer can be cured when localized to the bowel.                       

Key Insights

• As per the analysis shared by our research analyst, the global colorectal cancer market is projected to expand annually at the annual growth rate of around 5% over the forecast timespan (2024-2032)
• In terms of revenue, the global colorectal cancer market size was evaluated at nearly $13 billion in 2023 and is expected to reach $20 billion by 2032.
• The global colorectal cancer market is anticipated to grow rapidly over the forecast timeline owing to an increase in the cases of colorectal cancer and breakthroughs in cancer treatment.
• In terms of treatment type, the immunotherapy segment is slated to register the highest CAGR over the forecast period.
• Based on end-user, the hospitals & clinics segment is predicted to contribute majorly towards segmental space in the upcoming years.
• Based on diagnostics type, the colonoscopy segment is likely to lead the global market growth in the ensuing years.
• Region-wise, the European colorectal cancer industry is projected to register the fastest CAGR during the assessment timespan.

Colorectal Cancer Market: Growth Factors

A surge in the incidences of colorectal cancer patients to prop up the global market trends

An increase in the cases of colorectal cancer and breakthroughs in cancer treatment is anticipated to propel the expansion of the global colorectal cancer market. Surging awareness about detecting colorectal cancer in the early phase is likely to augment the growth of the market across the globe.

Moreover, the geriatric population is prone to colorectal cancer, and this can provide impetus to the expansion of the market across the globe. Launching new medicines for treating colorectal cancer can proliferate the global market size. Supportive government initiatives will further drive the global market trends.

A rise in the use of liquid biopsies, immunotherapy, and targeted drug treatments will sketch a profitable roadmap for the global market. Need for minimally invasive surgeries, including robotic surgeries and endoscopic surgeries, is projected to boost the market expansion globally. Use of digital health tools for checking patient health and the demand for telemedicine consulting services will drive the business space.

Colorectal Cancer Market: Restraints

Escalating costs of cancer treatment can pose a huge obstacle in the global industry expansion over 2024-2032

Surging prices of treating colorectal cancer and low awareness about colorectal cancer therapies are likely to negatively impact the expansion of the global colorectal cancer industry. Furthermore, side effects of treating colorectal cancer can further hinder the global industry surge in the ensuing years.

Colorectal Cancer Market: Opportunities

Utilization of combined drug therapies for cancer treatment can open new growth avenues for the global market

Growing focus on early identification of colorectal cancer and the use of artificial intelligence techniques for assessing medical images will create new facets of growth for the global colorectal cancer market. Development of targeted treatments that target genetic mutations is likely to propel the global market expansion.

In addition to this, the exploration of new combined drug treatments for colorectal cancer to overcome drug resistance, along with the need to improve clinical outcomes of the drug treatment on subjects, is predicted to enlarge the scope of the growth of the global market.

Colorectal Cancer Market: Challenges

Lack of reimbursement policies can challenge the global industry expansion over assessment period

Low compensation and regulatory hurdles faced by pharmaceutical firms can deter the expansion of the global colorectal cancer industry. Less access to high-quality healthcare facilities in rural regions can challenge the global industry surge in the ensuing years.

Colorectal Cancer Market: Segmentation

The global colorectal cancer market is divided into treatment type, end-user, diagnostics type, and region.                                             

In terms of treatment type, the colorectal cancer market across the globe is segmented into chemotherapy, immunotherapy, radiation therapy, targeted therapy, and surgery segments. Apparently, the immunotherapy segment, which gathered nearly 55% of the global market earnings in 2023, is expected to record the fastest CAGR in the coming few years as immunotherapy helps the immune system of the human body in combating cancer.

Based on end-user, the global colorectal cancer industry is segmented into hospitals & clinics, academic research institutes, and home care settings segments.

Apparently, the hospitals & clinics segment, which led the global industry size in 2023, is prognosis to account majorly towards the segmental expansion in the assessment period. This can be a result of the comprehensive range of services offered by hospitals & clinics, such as chemotherapy, patient care, diagnosis, and surgery.

On the basis of diagnostics type, the global colorectal cancer industry is divided into CT scan, colonoscopy, MRI, stool tests, and flexible sigmoidoscopy segments. Moreover, the colonoscopy market, which led the global market share in 2023, is likely to lead the global market expansion in the forecast timespan.

The segmental surge in the coming eight years can be a result of the ability of colonoscopy in the early identification of precancerous polyps that help prevent cancer by removing it. Apart from this, it helps in apt visualization of the rectum and colon, which will help in the perfect identification of cancer cells in the human body.

Colorectal Cancer Market: Report Scope

Colorectal Cancer Market: Regional Insights

North America is likely to maintain leading status in the global market over the analysis period

North America, which accounted for about 64.3% of the global colorectal cancer market size in 2023, is predicted to establish a leading position in the global market in the forecasting timeline. Furthermore, the regional market elevation in the next decade can be owing to the presence of advanced healthcare infrastructure in nations such as Canada, and the U.S. Surging occurrence of colorectal cancer in aging populace in the region will drive the regional market surge in the coming years.

Moreover, the strong growth witnessed in the pharmaceutical sector in countries such as the U.S. is likely to bring a paradigm shift in the regional market in the foreseeable future.

The European colorectal cancer industry is slated to account for the fastest compounded growth annually in the forecast timeline. The progression of the industry in Europe can be a result of the presence of an aging population in European countries, along with massive awareness about the ailment among the European population.

Supportive government schemes promoting cancer research, along with the availability of outstanding healthcare amenities, will embellish the growth of the industry globally.

Colorectal Cancer Market: Competitive Space

The global colorectal cancer market profiles key players such as:

• Bristol-Myers Squibb Company
• Eli Lilly and Company
• Bayer AG
• F. Hoffmann-La Roche Ltd.
• Guardant Health Inc.
• Mainz Biomed NV
• Amgen Inc.
• Pfizer Inc.
• Takeda Pharmaceutical Company Limited
• Genentech Inc.
• Exact Sciences Corporation
• Danaher Corporation
• Novigenix SA.

The global colorectal cancer market is segmented as follows:

By Treatment Type

• Chemotherapy
• Immunotherapy
• Radiation Therapy
• Targeted Therapy
•  Surgery

By End-User

• Hospitals & Clinics
• Academic Research Institutes
• Home Care Settings

By Diagnostics Type

• CT Scan
• Colonoscopy
• MRI
• Stool Tests
• Flexible Sigmoidoscopy

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa