Market Trends of North America Colorectal Cancer Screening Industry
Guaiac Fecal Occult Blood Test (gFOBT) is Expected to be Hold a Significant Share in the Market During the Forecast Period
- The guaiac fecal occult blood test (gFOBT) is one of the tests used to detect colorectal cancer (CRC). It involves detecting hidden blood in the feces and identifying cancer cells or tumors in the colon or rectum. The guaiac fecal occult blood test is often preferred over other screening tests due to its high efficacy in detecting colorectal cancer. Thus, it is expected to hold a significant market share. Other factors, such as the rising prevalence of colorectal cancer and the increasing usage of guaiac fecal occult blood tests (gFOBT), are expected to boost segment growth.
- For example, in April 2022, an article published by the Multidisciplinary Digital Publishing Institute (MDPI) stated that CRC was considered one of the most common cancers in Canada, with around 24,800 cases projected to be diagnosed in 2021. Although the incidence of CRC among adults under the age of 50 represents approximately 8% of CRC cases in Canada, recent studies have shown that the incidence of colorectal cancer in younger people is rising rapidly in Canada. Thus, the rising prevalence of colorectal cancer is expected to boost the usage of guaiac fecal occult blood tests (gFOBT).
- Also, advancements made by market players are driving increased utilization of the products within this segment. For example, in June 2022, W.H.P.M. Inc. obtained 510(k) marketing approval from the United States FDA for Hemosure Accu-Reader A100, a guaiac-based fecal occult blood test (gFOBT). Thus, the approval of the new products will increase the availability of these gFOBT tests, thereby boosting market growth in the coming years.
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The United States is Expected to be Hold a Significant Market Share During the Forecast Period
- The United States is expected to hold a significant share of the colorectal cancer screening market in North America due to the robust healthcare infrastructure for cancer screening and the rising burden of colorectal cancer. Also, awareness programs and the launch of new products are expected to augment the market's growth in the United States during the forecast period.
- For instance, according to the data published by the American Cancer Society in 2024, 106,590 new cases of colon cancer and 46,220 cases of rectal cancer are estimated to be in the United States by the end of 2024. Moreover, according to the same source, around 106,970 cases were estimated to have colon cancers, and 46,050 cases were estimated to have rectum cancer in 2023. Thus, the country's high incidence of colon and rectum cancers is expected to boost market growth.
- Also, according to the same source, it has been observed that screening can help prevent colorectal cancers by detecting and removing precancers in the colon, rectum, and uterine cervix, and screening can also reduce mortality for these cancers. Thus, the rising importance of colorectal cancer screening is also expected to boost market growth.
- Moreover, major market players' rising product approvals, recommendations, and launches are expected to boost market growth, increasing access to technologically advanced products. For instance, in March 2024, Guardant Health Inc. stated that the US FDA Medical Devices Advisory Committee, reviewing the Molecular and Clinical Genetics Panel, strongly recommended the FDA approval of Guardant Health's Shield blood test. This test is designed for colorectal cancer (CRC) screening in adults aged 45 and above. Thus, the factors above, such as the rising prevalence of colorectal cancer and the new product recommendations, are expected to boost the market growth in the region during the forecast period.
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