{"id":47448,"date":"2022-08-18T17:01:57","date_gmt":"2022-08-18T15:01:57","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/colorectal-cancer-market-report-2022-2028-increasing-prevalence-of-colorectal-cancer-benefits-offered-by-generic-drugs-to-drive-growth-researchandmarkets-com\/"},"modified":"2022-08-18T17:01:57","modified_gmt":"2022-08-18T15:01:57","slug":"colorectal-cancer-market-report-2022-2028-increasing-prevalence-of-colorectal-cancer-benefits-offered-by-generic-drugs-to-drive-growth-researchandmarkets-com","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/colorectal-cancer-market-report-2022-2028-increasing-prevalence-of-colorectal-cancer-benefits-offered-by-generic-drugs-to-drive-growth-researchandmarkets-com\/","title":{"rendered":"Colorectal Cancer Market Report 2022-2028: Increasing Prevalence of Colorectal Cancer & Benefits Offered by Generic Drugs to Drive Growth – ResearchAndMarkets.com"},"content":{"rendered":"
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DUBLIN–(BUSINESS WIRE)–The “Colorectal Cancer Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Modality and End-user”<\/a> report has been added to ResearchAndMarkets.com’s<\/strong> offering.\n<\/p>\n

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\nThe global colorectal cancer market is expected to grow from US$ 18,619.3 million in 2022 to US$ 24,078.5 million by 2028.\n<\/p>\n

\nFactors such as the increasing prevalence of colorectal cancer, product launches, and benefits offered by generic drugs are driving the growth of the global colorectal cancer market. However, pricing pressure on drug manufacturers is hampering the global colorectal cancer market growth.\n<\/p>\n

\nThe increasing medical tourism and the growing pharmaceutical industry in emerging countries are expected to boost the global colorectal cancer market growth. According to India Brand Equity Foundation (IBEF) statistics in April 2019, India is the largest provider of generic drugs worldwide.\n<\/p>\n

\nThe Indian pharmaceutical industry supplies ~40% of generic demand in the US, with ~50% of the global demand for multiple vaccines and 25% of all medicines in the UK. The pharmaceutical sector in India is expected to grow from US$ 42 billion in 2021 to US$ 55 billion by 2025; it is estimated to register at a CAGR of 37% from 2020 to 2025. Moreover, India has a huge pool of scientists and engineers having the potential to grow the healthcare industry remarkably.\n<\/p>\n

\nMajor market players focus on emerging markets such as Singapore and China as they have many colorectal cancer patients and growing medical tourism. As per the Australian Institute of Health and Welfare, over ~15,540 new cases of colorectal cancer were diagnosed in 2021.\n<\/p>\n

\nMoreover, as per the Malaysia Healthcare Travel Council, in 2019, over 1.22 million healthcare travelers visited Malaysia for healthcare purposes. The low cost of treatment and incorporation of advanced technologies to provide less waiting time for procedures in Asia Pacific are likely to boost the number of surgeries. This ultimately increases the demand for colorectal cancer diagnostics and treatment.\n<\/p>\n

\nThe global colorectal cancer market is bifurcated into modality and end user. Based on modality, the global colorectal cancer market is segmented into diagnosis type, therapy type, and imaging type. The diagnosis type segment holds the largest share of the global colorectal cancer market in 2022.\n<\/p>\n

\nThe diagnosis type is further segmented into immunohistochemistry, stool test, flexible sigmoidoscopy, colonoscopy, CEA test, and others. Fecal occult blood testing (FOBT) is the most widely prescribed screening test for CRC as it is simple, noninvasive, and has been demonstrated to reduce the chances of death due to CRC. For instance, Clinical Genomics Technologies Pty Ltd offers InSure ONE (Fecal Immunochemical testing) for detecting blood in the stool, which helps to diagnose CRC.\n<\/p>\n

\nMarket Dynamics<\/strong>\n<\/p>\n

\nMarket Drivers\n<\/p>\n