At 9.4% CAGR, the Asia Pacific Colorectal Cancer Diagnostic Market is projected to be worth US$ 3,859.28 million by 2028, says Business Market Insights

According to Business Market Insights research, the Asia Pacific colorectal cancer diagnostic market was valued at US$ 2,461.75 million in 2023 and is expected to reach US$ 3,859.28 million by 2028, registering a CAGR of 9.4% from 2023 to 2028. Growing awareness of colorectal cancer and increasing prevalence of colorectal cancer are the critical factors attributed to the Asia Pacific colorectal cancer diagnostic market expansion.               

A mass colorectal cancer screening program was conducted in Guangzhou, China, during 2015–2017. It used public media and mobile short message service (SMS) reminders to invite residents aged 50–74 to the screening program. Thus, the growing awareness about the effects of colorectal cancer on the quality of life would trigger the adoption of colonoscopy diagnostic procedures during the forecast period, thus offering lucrative opportunities to the market players.  

On the contrary, low accuracy of screening based on faecal immunochemical tests (FITs) hurdles the growth of Asia Pacific colorectal cancer diagnostic market.

Based on modality, the Asia Pacific colorectal cancer diagnostics market is bifurcated into imaging tests and stool-based tests. The imaging tests segment held 95.6% share of Asia Pacific colorectal cancer diagnostic market in 2023, amassing US$ 2,353.35 million. It is projected to garner US$ 3,702.38 million by 2028 to expand at 9.5% CAGR during 2023–2028. The market for the imaging tests segment is further segmented into colonoscopy, CT colonography, flexible sigmoidoscopy, capsule endoscopy, and others. The market for the stool based tests segment is subsegmented into faecal immunochemical test (fit), guaiac-based faecal occult blood test (gFOBT), and stool DNA test.

Based on end user, the Asia Pacific colorectal cancer diagnostics market is segmented into hospitals, diagnostic laboratories, cancer research institutes, and others. The hospitals segment held 42.2% share of Asia Pacific colorectal cancer diagnostic market in 2023, amassing US$ 1,038.58 million. It is projected to garner US$ 1,669.38 million by 2028 to expand at 10.0% CAGR during 2023–2028.  

Based on country, the Asia Pacific colorectal cancer diagnostics market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 27.5% share of Asia Pacific colorectal cancer diagnostic market in 2023. It was assessed at US$ 677.15 million in 2023 and is likely to hit US$ 1,080.93 million by 2028, exhibiting a CAGR of 9.8% during the forecast period.  

Key players profiles in the Asia Pacific colorectal cancer diagnostic market report Medtronic Plc, Illumina Inc, Epigenomics AG, Clinical Genomics Technologies Pty Ltd, F. Hoffmann-La Roche Ltd, Quest Diagnostics Inc, Siemens Healthineers AG, Bruker Corp, and Eiken Chemical Co., Ltd, among others.

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