Market Research Report
Asia-Pacific Colorectal Cancer Market to 2027 - Regional Analysis and Forecasts by Modality (Diagnosis Type, Therapy Type, Imaging Type), End User (Hospitals, Diagnostic and Research Laboratories), and Country
|Asia-Pacific Colorectal Cancer Market to 2027 - Regional Analysis and Forecasts by Modality (Diagnosis Type, Therapy Type, Imaging Type), End User (Hospitals, Diagnostic and Research Laboratories), and Country|
Published: March 9, 2020
The Insight Partners
Content info: 166 Pages
Delivery time: 1-2 business days
The Asia Pacific colorectal cancer market was valued at US$ 3,313.9 million in 2019 and is projected to reach US$ 4,900.6 million by 2027; it is expected to grow at a CAGR of 4.5% from 2020 to 2027.
The growth of the Asia Pacific colorectal cancer market is primarily ascribed to the increasing prevalence of colorectal cancer, rising number of new product launches, and benefits of generic drugs. On the other hand, pricing pressure on drug manufacturers is restraining the growth of the market. In contrast, growth of emerging markets in developing countries is expected to have a fuel the Asia Pacific colorectal cancer market in the coming years.
Colorectal cancer is one of the commonly found and lethal cancers caused through a combined influence of genetic and environmental factors, and it affects colon, bowel, and rectum. It is the second-leading cause of death in women and third in men. Colorectal cancer may be benign, malignant, or non-cancerous. The symptoms shown by the people suffering from colon cancer include changes in bowel habits, including diarrhea or constipation, and blood in stools that makes it appear black. Colorectal cancer can be treated with chemotherapy, radiotherapy, and surgery.
Cancer has been a leading cause of deaths in Japan since several decades. The Japanese government has been formulating and laying down multiple initiatives and programs to enhance the quality of cancer treatment and increase awareness regarding cancer in the country. In December 2015, it formulated the "Acceleration plan for cancer control." In November 2016, a bill was submitted to revise a part of the Cancer Control Act, which was enacted and implemented in December. In December 2016, the Genome Medical Forum 2016 was organized to provide an opportunity to reconstruct the cancer medical system.
The cases of cancer have significantly increased in Japan in the recent years. As per the data obtained by the WHO, ~883,395 new cancer cases were detected in 2018, with ~409,399 due to the same in that years. Among men, the prevalence of colorectum, lung, stomach, prostate, and bladder cancers was significantly high. On the other hand, among women, breast, colorectum, and lung cancers were detected in large numbers. In spite of the available options, participation is as low as 35% of the target population for both forms of cancer. The increasing prevalence of cancer, coupled with available options for screening, is expected to fuel the growth of the colorectal cancer market in Asia Pacific at a significant pace during the forecast period.
In 2019, the diagnosis segment accounted for the largest share of the Asia Pacific colorectal cancer market based on type. The growth of the market for this segment is attributed to rising number of colorectal cancer screening programs and initiatives across the world. The diagnosis segment is also estimated to mark the highest CAGR in the market during the forecast period, owing to the increasing technological developments that are enabling the early detection of this cancer through various screening methods.
In 2019, the hospitals segment held the most significant share of the colorectal cancer market, by the end user. This segment is also anticipated to hold a considerable portion of the market by 2027 owing to the need for hospitals as primary healthcare centers for the people. The segment is also anticipated to register significant CAGR in the market during the forecast period.
A few of the prime secondary sources studied for preparing the colorectal cancer market report are World Health Organization (WHO), Food and Drug Administration (FDA), Canadian Cancer Society, Centers for Disease Control and Prevention (CDC), and American Cancer Society.
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific colorectal cancer market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific colorectal cancer market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth regional market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.