Globally, colorectal cancer is the third most common cancer, and around 1.8 million new incidences came to the forefront in 2018. Extensive unhealthy lifestyle, aging, higher intake of fatty foods, alcohol consumption, and others collectively contribute to the increasing colorectal cancer cases worldwide. The abnormal growth of cells in the colon and rectal spreads gradually to nearby periphery and affects normal functioning, causing unhealthy bowels, constipation, blood in feces, and other disorders. The treatment procedures include chemotherapy, immunotherapy, radiation therapy, surgical removal of cancerous outgrowth, and ablation. Diagnosis, drugs, and medication for the colorectal cancer is experiencing an uplift in the recent times owing to the high life risk. According to IndustryARC’s report, colorectal cancer treatment market value attained $9.58 billion as of 2018. The increasing advent of screening test and the possibility of reducing life risks is one of the major boosts to the global colorectal cancer treatment demand. As per the above mentioned expertise, the global colorectal cancer market will grow at a normal compound annual growth rate (CAGR) of 2.60% during the forecast period of 2019-2025.
Colorectal cancer has the second leading mortality rate in the U.S. and North America is the leading global colorectal market with a regional share of 28% as of 2018 followed by Japan and Germany. Growing population and increasing obesity pose serious risks of colorectal cancer boosting the diagnostic centers in this region. Colorectal cancer starts by an ingrowth structure –polyps- in the inner side of colon or rectum. Over time polyps can develop into cancer and its surgical removal can cure colorectal cancer. Moreover, long term inflammatory bowel disease or Crohns disease might lead to colorectal cancer worsening the inflammation. CT colonoscopy diagnoses the severity of the condition and certain non-steroidal anti-inflammatory drugs are recommended to ease the risk. As per the aforementioned report, the application CAGR in diagnostic imaging centers will grow at 4.10% through to 2025.
· Increasing incidences of colorectal cancer is compelling people to accept preventive measures such as healthy diet plan and regular exercise, and proper treatments to reduce the risk of cancer deaths. Social media is playing its part too.
· Growing awareness about colorectal cancer through government collaboration and measures have subsequently hiked up regular screening schedules and CT colonography in developing countries, resultantly, boosting the global colorectal cancer treatment market.
The drawbacks of colorectal cancer treatment results from the side-effects on different areas of the body. Cancer surgery induces pain, constipation, and diarrhea, whereas colostomy leads to severe irritation around the diverted opening. Radiation therapy affects regular lifestyle and includes post-treatment symptoms such as blockage of bowel movement, fatigue, skin irritation, and others. Chemotherapy is usually associated with many adverse effects on body such as nausea, hair loss, peripheral neuropathy, and many others. Meeting up these challenges via palliative treatments effectively reduces the side-effects of colon cancer treatments.
The leading market companies include F. Hoffmann-La Roche Ltd., Merck KGaA, Bayer HealthCare Pharmaceuticals, Boehringer Ingelheim, Taiho Pharmaceutical, Eli Lilly and Company, Pfizer, Inc., Abbott Diagnostics, Quest Diagnostics, Taiwan Liposome Company Ltd., and others.
F. Hoffmann-La Roche Ltd. is a Swiss multinational company offering a wide range of drugs and diagnostic solutions for cancer and transplantation. They manufacture drugs for various chronic diseases and cancer treatment products which include Avastin, Herceptin, and MabThera. They also produce several diagnostic devices, test systems, and kits.
Proton beam therapy is an advanced treatment procedure which utilizes high energy protons radiation to treat cancer. It is a painless medical approach suitable for targeting cancers and tumors in sensitive and complex body parts where conventional treatments could damage peripheral nerves and cells.
Surgical treatment of colorectal cancer has been challenging since its beginning. With minimally invasive transanal total mesorectal excision (TATME) surgery, dissecting of pelvic area is easily accomplished without any complications and inconvenient pot-surgical experience of the patient. TATME surgery offers a new platform for medical execution of risk-free colorectal surgery in the modern times. This will disrupt the market in the upcoming years and be a primary trend adopted by key market players.
Market Research Scopes:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the colorectal cancer market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of colorectal cancer in colorectal cancer market, and their specific applications in different areas.
Global colorectal cancer market can be bifurcated into segments such as testing and diagnosis and therapies and drugs. On the basis of testing and diagnosis categorization includes macroscopy, microscopy, immunochemistry, staging, and tumor building. Based on therapies and drugs, this market can be divided into surgery, chemotherapy, radiation, therapy, immunotherapy, and others.
The colorectal cancer market also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia