Emphasis on Type (Colon Cancer, Rectal Cancer); Treatment Modality (Surgery, Chemotherapy, Radiation Therapy, Targeted Therapy, Immunotherapy); End-users (Hospitals, Diagnostic & Research Laboratories, Others); and Region/Country
The Colorectal Cancer market was valued at approximately USD 19 Billion in 2023 and is expected to grow at a substantial CAGR of around 4% during the forecast period (2024-2032) owing to the rising global incidence of colorectal cancer, particularly in aging populations.
Cancer of the colon or rectum, referred to as colorectal cancer, begins in the large intestine. Colon or rectum cancer often starts with noncancerous growths of cells known as polyps that develop in the inner colon linings. Some of the polyps will grow to become malignant tumors after some time has elapsed. Colorectal cancer remains one of the most prevalent cancer types after lung, breast, and prostate cancer and is estimated to be affecting over three million people every year. Some of the complications are bowel difficulty/changes, stool blood, abdominal distress, or weight loss of unexplained origin.
The market offers tremendous growth potential for success in the pharmaceutical, biotech, or medical device manufacturing business. Competition continues to rise owing to constant efforts by various stakeholders to develop better approaches to managing symptoms and even diagnosing diseases. For instance, on October 22, 2023, Amgen released findings from the global Phase 3 CodeBreaK 300 trial assessing two dosage levels of LUMAKRAS (sotorasib) (960 mg or 240 mg) combined with Vectibix (panitumumab). Both dosages showed significant statistical improvement in progression-free survival (PFS) compared to the treatment chosen by the investigator in patients with chemorefractory metastatic colorectal cancer (mCRC) harboring KRAS G12C mutations.
Further, specific treatment options aimed at molecular targets, such as targeted therapies and other techniques, such as immunotherapies, expand patients’ choices. More government and private funding for cancer research and awareness programs also helps to boost market growth. In addition, there is an increasing trend of healthcare spending in developed and developing nations that enhances access to modern healthcare services.
This section discusses the key market trends influencing the various segments of the colorectal cancer market as identified by our research experts.
Targeted Therapy Colorectal Cancer Transforming Industry
Targeted therapy in precision medicine selectively targets cancer cells without harming normal cells, unlike conventional chemotherapy, which impacts both healthy and cancerous cells. These therapies are engineered to disrupt specific molecules crucial to cancer development, advancement, and metastasis. The development of targeted therapies, such as monoclonal antibodies and small molecule inhibitors, has been propelled by advances in molecular biology and genomics, which have identified significant pathways and genetic mutations in colorectal cancer. For instance, on April 8, 2024, Bristol Myers Squibb announced data from the cohorts of the Phase 1/ 2 KRYSTAL-1 study evaluating KRAZATI (adagrasib) in combination with cetuximab as a targeted treatment option for patients with previously treated KRASG12C-mutated locally advanced or metastatic colorectal cancer (CRC).
North America leads the market in 2023
The North America region has a well-established healthcare infrastructure and a rising consciousness of cancer screening and treatment, so early diagnostics are standard. The region-specific factors also include technological advancement in diagnostics and therapies and other therapies such as targeted and immunotherapies that have contributed to market growth in North America. Furthermore, the region is highly focused on research and development. Therefore, the market experiences innovations in cancer care treatments and new drugs, which, in turn, advances market growth. For example, On March 13, 2023, Pfizer Inc. and Seagen Inc. disclosed a definitive merger agreement where Pfizer would purchase Seagen, a biotechnology firm specializing in innovative cancer treatments, for USD 229 per share in cash, totaling an enterprise value of USD43 billion. In addition, the North American region has some of the leading pharma majors and biotech firms specializing in oncology and focusing on colorectal cancer drugs, thus constantly adding new products and clinical trial options.
The Colorectal Cancer market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Pfizer Inc., Bristol Myers Squibb, F. Hoffmann-La Roche Ltd, Merck KGaA, Amgen Inc., Eli Lilly and Company, Bayer AG, TAIHO PHARMACEUTICAL CO., LTD., Sanofi, Takeda Pharmaceutical Company Limited.
On April 8, 2024, Bristol Myers Squibb announced data from the cohorts of the Phase 1/ 2 KRYSTAL-1 study evaluating KRAZATI (adagrasib) in combination with cetuximab as a targeted treatment option for patients with previously treated KRASG12C-mutated locally advanced or metastatic colorectal cancer (CRC).
On November 8, 2023, Takeda announced that the U.S. Food and Drug Administration (FDA) had approved FRUZAQLA (fruquintinib), an oral targeted therapy for adults with metastatic colorectal cancer (mCRC) who have been previously treated with fluoropyrimidine-, oxaliplatin-, and irinotecan-based chemotherapy, an anti-VEGF therapy, and, if RAS wild-type and medically appropriate, an anti-EGFR therapy.
On September 28, 2021, Eli Lilly and Company announced that the U.S. Food and Drug Administration (FDA) has approved a new indication for ERBITUX (cetuximab injection) in combination with BRAFTOVI (encorafenib), marketed by Pfizer, Inc., for the treatment of adult patients with metastatic colorectal cancer (CRC) with a BRAF V600E mutation, as detected by an FDA-approved test, after prior therapy.
The global colorectal cancer market can be customized further as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. Global Colorectal Cancer Market Revenue (usd Bn), 2022-2032f
7. Market Insights By Type
8. Market Insights By Treatment Modality
9. Market Insights By End-user
10. Market Insights By Region
11. Value Chain Analysis
12. Competitive Landscape
13. Company Profiles
14. Acronyms & Assumption
15. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Colorectal Cancer market were the three major steps undertaken to create and analyze the adoption of Colorectal Cancer in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Colorectal Cancer market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Colorectal Cancer market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Colorectal Cancer market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, treatment modality, end-user, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Colorectal Cancer market. Further, we conducted factor analysis using dependent and independent variables such as type, treatment modality, end-user, and regions of the Colorectal Cancer market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Colorectal Cancer market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Colorectal Cancer market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Colorectal Cancer market. Data was split into several segments and sub-segments after studying various parameters and trends in the type, treatment modality, end-user, and regions of the global Colorectal Cancer market.
The current & future market trends of the global Colorectal Cancer market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the Colorectal Cancer market's current market size and growth potential?
Q3: Which segment has the largest share of the Colorectal Cancer market by type?
Q4: What are the emerging technologies and trends in the Colorectal Cancer market?
Q5: Which region will dominate the colorectal cancer market?
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