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Expected expansion
June 2020
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The colorectal cancer (CRC) screening test market is on a path to continued growth, according to a recent report by GlobalData. In “Colorectal Cancer Screening Tests–In Vitro Diagnostics Market Analysis and Forecast Model,” GlobalData forecasts that the market will reach $2 billion by 2028, expanding at a compound annual growth rate (CAGR) of 10 percent. The report states that more than 155 million in-vitro diagnostic tests for CRC are sold each year, a number that is anticipated to hit 182.4 million by 2028.
 
“Regionally, North America is predicted to have the highest CAGR for test volumes at 2.58 percent over the period, following the adoption of the Cologuard fecal DNA test kit, whereas the Asia Pacific has the highest increase in actual CRC screening test numbers. There is an increase of large-scale CRC screening initiatives being implemented on the target population of individuals between the ages of 50-75 years,” noted Dara Lo, medical devices analyst at GlobalData.

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