The global colorectal cancer market size is expected to reach USD 2.88 billion by 2032, according to a new study by Polaris Market Research. The report “Colorectal Cancer Market Share, Size, Trends, Industry Analysis Report, By Treatment (Radiation Therapy, Targeted therapy, Chemotherapy, Immunotherapy, Surgery, Embolization, Others); By End-Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Colorectal cancer primarily affects older folks. Weight loss, weakness, stomach discomfort, exhaustion, pain, persistent changes in bowel habits, including diarrhea and constipation, cramps, rectal bleeding, blood in the stools, and other signs and symptoms are all associated with colorectal cancer. A wide range of medications is used to treat colorectal cancer. Although it can burden people of any age.
Factors such as increased pipeline colorectal cancer screening tests, an aging population, rising awareness, and government initiatives to improve care for colorectal cancer are major drivers of the market's expansion worldwide.
Additionally, a growing elderly population and an increase in clinical trials for novel medications are expected further to boost the growth of the colorectal cancer market. Due to the rising incidence of colorectal cancer, the introduction of new products, and the advantages of generic medications, the colorectal cancer market is thus anticipated to expand. In addition, the market's expansion in the upcoming years will be positively impacted by the expanding pharmaceutical sector in emerging nations.
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The worldwide healthcare system has been profoundly impacted by the COVID-19 epidemic. Governments approved strict regulations in 2020 and 2021 to prevent and lower infection and fatality rates to stop the spread of SAR-CoV-2. Lockdowns and travel restrictions have a negative impact on the market for colorectal cancer worldwide. This is mostly because CRC screening has been scaled back to limit the number of hospital visits by cancer patients.
In addition, hospitals delayed or scrapped time-consuming treatments to make room for COVID-19 patients. The market for colon cancer suffered from the cancellation of procedures to minimize hospital exposure to COVID-19. However, the COVID-19 epidemic is slowly being contained, and efforts to reconstruct people's lives and economy have restarted. Therefore, it is anticipated that the colorectal cancer market would greatly recoup the loss over the next years with the relaxation of lockdowns globally and the resuming of elective treatments.
Colorectal Cancer Market Report Highlights
Polaris Market Research has segmented the colorectal cancer market report based on treatment, end-use, and region:
Colorectal Cancer, Treatment Outlook (Revenue - USD Billion, 2019 - 2032)
Colorectal Cancer, End-Use (Revenue - USD Billion, 2019 - 2032)
Colorectal Cancer, Regional Outlook (Revenue - USD Billion, 2019 - 2032)