In-Vitro Colorectal Cancer Screening Tests Market Analysis

In-Vitro Colorectal Cancer Screening Tests Market Analysis

The fecal occult blood tests (FOBT) segment in the in-vitro colorectal cancer screening tests market was valued at around USD 625 million in 2020 led by the high preference for cost-effective fecal occult blood tests. Fecal occult blood tests (FOBT) uses the stool samples for detection of occult blood in the faeces.  The United States Preventative Services Task Force suggests colorectal cancer screening by the means of FOBT among other tests for individuals corresponding to 50-75 age group. FOBT is based on chemical reaction that detects the presence of blood in faeces and provides an inexpensive, simple, & accessible screening option. A clinical study that randomized 46,551 participants concluded that FOBT with rehydration reduced the 13-year cumulative mortality associated with CRC by 33%.

The hospitals end-use segment held more than 24% of the in-vitro colorectal cancer screening tests market share in 2020 owing to the growing usage of in-vitro colorectal cancer screening tests in the hospital settings to counter and support the significant number of hospital admissions. According to the JAMA Network, approximately 15% to 30% of patients diagnosed with colorectal cancer represent emergency and are admitted to the hospital. The CRC patients inflict substantial healthcare burden as they spend 50% more days in the hospitals as compared to non-emergency CRC.
 

U.S. in-vitro colorectal cancer screening tests market is slated to reach around USD 392 million by 2027. This high revenue share is attributed to multiple factors including high prevalence of CRC, favourable reimbursement scenario, and increasing incidence of obesity across the country. Colorectal cancer is amongst the common cancers inflicting significant mortalities in the U.S. The American Cancer Society and the National Center for Health Statistics, in 2020, estimated that approximately 147,950 individuals were diagnosed with CRC. The incidence rate of CRC increased from 2012 to 2016, from 30 (per 100,000 individuals) to 45.7. These numbers are further estimated to rise with augmented incidence of obesity in the country. According to the Centers for Disease Control and Prevention (CDC), in 2017, obesity affects more than 18.5% of the children and adolescents in the U.S. Additionally, the current trends indicate around 33% increase in the prevalence of obesity in the coming years. These developments will expand the market size in the U.S. during the forecast period.