Colorectal Cancer Market Size & Growth Analysis to 2030

Key Findings:

• The market size was valued at ~ USD 15.5 Bn in 2023 and registering a significant CAGR of ~ 4% by 2030
• By treatment, the surgery segment is estimated to hold a significant market share in the benchmark year 2023
• By Region, North America dominated the market and expected to hold the largest market share by the end of the forecast period to 2030

The global colorectal cancer market size was valued at around USD 15.5 billion in 2023 and estimated to register a significant CAGR of around 4% during the forecast period from 2024 to 2030. The market is primarily driven by the increasing prevalence of colorectal cancer globally, particularly among aging populations. Colorectal cancer is a significant global health concern, ranking as the third most common cancer worldwide with over 1.9 million new cases and approximately 935,000 deaths in 2020, according to the World Health Organization (WHO). In the United States, the American Cancer Society (ACS) estimates that in 2023 there will be about 106,970 new cases of colon cancer and 46,050 new cases of rectal cancer, with around 52,550 deaths. The National Cancer Institute (NCI) reports a 5-year relative survival rate of about 65%, which varies significantly based on the stage at diagnosis. Notably, while incidence rates have been declining in adults aged 50 and older in the U.S., they have been rising in those under 50.

Furthermore, the advances in screening technologies and heightened awareness have led to earlier diagnosis, improving treatment outcomes and expanding the patient pool. Additionally, innovations in targeted therapies and immunotherapies have revolutionized treatment paradigms, offering more effective and personalized options. Supportive government initiatives and substantial investments in research and development further stimulate market growth. The rise in healthcare expenditure and the expanding access to healthcare services in developing regions also contribute to the market’s expansion.

Market Snapshot:

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Market Trends:

Advancements in Diagnostics: Colonoscopy is widely regarded as the most effective method for colorectal cancer detection. It allows for direct visualization of the colon and rectum, enabling physicians to identify and remove precancerous polyps during the procedure. Digital Rectal Examination (DRE) also plays a crucial role, especially in identifying rectal tumors. Despite the invasiveness of these procedures, their accuracy and ability to facilitate immediate intervention maintain their status as essential diagnostic tools. There is growing interest in non-invasive diagnostic techniques. Stool tests, such as fecal occult blood tests (FOBT) and fecal immunochemical tests (FIT), are becoming increasingly popular due to their ease of use and non-invasiveness. These tests can detect hidden blood in the stool, which may be an early sign of cancer. Advanced techniques, like immunohistochemistry, enhance the sensitivity and specificity of these tests by detecting specific antigens or proteins associated with colorectal cancer cells​​.

Therapeutic Innovations: Chemotherapy remains a cornerstone of colorectal cancer treatment, particularly for advanced stages. However, targeted therapies are making significant strides. These treatments focus on specific molecular targets associated with cancer growth and progression. For example, drugs targeting the epidermal growth factor receptor (EGFR) or vascular endothelial growth factor (VEGF) have shown efficacy in treating colorectal cancer. Such therapies often come with fewer side effects compared to traditional chemotherapy, improving patient quality of life and outcomes​​. Furthermore, the immunotherapy is emerging as a transformative approach in colorectal cancer treatment. It harnesses the body’s immune system to recognize and attack cancer cells. Checkpoint inhibitors, which block proteins that prevent the immune system from attacking cancer cells, are particularly promising. Drugs like pembrolizumab and nivolumab have shown success in treating patients with mismatch repair-deficient (dMMR) or microsatellite instability-high (MSI-H) colorectal cancer, offering hope for those with limited options​​.

Regional Market Dynamics: North America dominates the colorectal cancer market, driven by high awareness, advanced healthcare infrastructure, and significant government and private sector investment in cancer research. The United States, in particular, benefits from robust healthcare policies, widespread screening programs, and substantial funding for medical research, all of which contribute to early detection and improved treatment outcomes​. Furthermore, the Asia-Pacific region is expected to witness the highest growth in the colorectal cancer market. Factors contributing to this growth include increasing incidence rates, improving healthcare infrastructure, rising disposable incomes, and enhanced awareness about colorectal cancer. Governments and healthcare organizations in countries like China, Japan, and India are investing in screening programs and modern treatment facilities, which are driving market expansion in this region​.

Key Players and Competitive Landscape: The colorectal cancer market is competitive, with several major players contributing to innovation and market growth. Key companies include Amgen Inc., F. Hoffmann-La Roche Ltd, Bayer AG, Bristol-Myers Squibb Company, and Pfizer Inc. These companies are at the forefront of developing new diagnostics and therapeutics, investing heavily in research and development. Recent approvals of biosimilars and novel drugs have intensified competition, fostering a dynamic and rapidly evolving market​.

Market Opportunities:

The global colorectal cancer market presents significant opportunities across various sectors, including diagnostics, treatment, and supportive care. Advances in early detection technologies, such as liquid biopsies and molecular diagnostics, offer promise for improved patient outcomes through timely intervention. Moreover, the development of targeted therapies, immunotherapies, and combination treatments tailored to specific genetic mutations or biomarkers holds potential for more effective and personalized approaches to treatment. Additionally, the growing emphasis on supportive care, including symptom management and quality of life interventions, underscores opportunities for innovation in addressing the holistic needs of patients throughout their cancer journey.

Market Challenges:

The colorectal cancer market faces several challenges that impede progress in diagnostics, treatment, and patient care. One significant hurdle is the lack of effective screening programs and low awareness, leading to late-stage diagnoses and poorer outcomes. Additionally, the complexity of the disease and its heterogeneity pose challenges in identifying optimal treatment strategies tailored to individual patients. Moreover, access to innovative therapies, including targeted agents and immunotherapies, remains limited due to high costs and disparities in healthcare access. Furthermore, managing treatment-related toxicities and long-term side effects, as well as addressing psychosocial and supportive care needs, present ongoing challenges in ensuring comprehensive care for patients

Market Insights:

The global colorectal cancer market is bifurcated into treatment, route of administration, end-user, distribution channel, and geography. On the basis of treatment, the market is further segmented into chemotherapy, targeted therapy, radiation therapy, surgery, immunotherapy, embolization, and others. Surgery holds a dominant position in the colorectal cancer treatment landscape due to its pivotal role in achieving curative outcomes and managing the disease across various stages. As the primary treatment modality for localized disease, surgery offers the potential for complete tumor removal, aiming to eliminate cancerous tissue and prevent disease recurrence. Moreover, advancements in surgical techniques, including minimally invasive approaches such as laparoscopic and robotic surgery, have significantly improved patient outcomes by reducing postoperative complications and expediting recovery. Additionally, surgery is often integrated with other treatment modalities, such as chemotherapy and radiation therapy, in both adjuvant and neoadjuvant settings, enhancing its efficacy in preventing disease progression and improving survival rates.

The colorectal cancer market research report presents the analysis of each segment from 2020 to 2030 considering 2023 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2024 to 2030.

Historical & Forecast Period

• 2020-22 – Historical Year
• 2023 – Base Year
• 2024-2030 – Forecast Period

Market Segmentation:

By Treatment:

• Chemotherapy
• Targeted Therapy
• Radiation Therapy
• Surgery
• Immunotherapy
• Embolization
• Others

By Route of Administration:

• Oral
• Parenteral
• Others

By End-User:

• Hospitals
• Homecare
• Specialty Clinics
• Others

By Distribution Channel:

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

Geographically, North America emerges as a dominant force in the global colorectal cancer treatment market owing to several key factors. The region boasts advanced healthcare infrastructure, characterized by well-established medical facilities, cutting-edge diagnostic technologies, and a robust network of healthcare professionals specializing in oncology. Moreover, North America is at the forefront of medical research and innovation, with numerous renowned academic institutions, research centers, and pharmaceutical companies driving advancements in cancer treatment modalities. This environment fosters the development and adoption of novel therapies, including targeted therapies, immunotherapies, and precision medicine approaches tailored to individual patient needs, thus elevating the standard of care for colorectal cancer patients in the region.

Additionally, North America’s proactive approach to cancer screening and early detection contributes significantly to its dominance in the colorectal cancer treatment market. Comprehensive screening programs, coupled with public health initiatives and awareness campaigns, promote early diagnosis and intervention, leading to better patient outcomes and higher survival rates. Moreover, the region’s well-established healthcare reimbursement systems and insurance coverage ensure broader access to screening, diagnostics, and treatment services, further solidifying its position as a leader in colorectal cancer management. Overall, North America’s commitment to medical excellence, coupled with its proactive approach to cancer care, positions it as a dominant force driving advancements and improving outcomes in the colorectal cancer treatment landscape.

Competitive Landscape:

Some of the prominent market players operating in the global colorectal cancer market are Genentech, Inc., Eli Lilly and Company, Pfizer Inc., Teva Pharmaceutical Industries Ltd., and Bristol Myers Squibb. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Recent Developments:

• In 2022, Bruker introduced groundbreaking 7 Tesla and 9.4 Tesla conduction-cooled Maxwell magnets as part of its renowned preclinical magnetic resonance imaging (MRI) systems lineup. Building on the success of its BioSpec Maxwell 3 Tesla model, these new magnets eliminate the need for liquid Helium or Nitrogen refills while delivering exceptional high-field sensitivity and resolution. This advancement caters to the demands of advanced preclinical MRI and PET/MR research, offering researchers unparalleled capabilities for studying intricate biological processes.
• In 2022, Chugai Pharmaceutical Co., Ltd. secured regulatory clearance from the Ministry of Health, Labour and Welfare (MHLW) for their anti-HER2 humanized monoclonal antibodies, Perjeta and Herceptin, for intravenous infusion. This approval extends the indication to include advanced or recurrent HER2-positive colon cancer or rectal cancer not suitable for curative resection and has progressed following cancer chemotherapy. This regulatory milestone signifies a significant advancement in treatment options for patients facing challenging forms of colorectal cancer, offering hope for improved outcomes in this patient population.

Key Companies:

• Genentech, Inc.
• Eli Lilly and Company
• Pfizer Inc.
• Teva Pharmaceutical Industries Ltd.
• Bristol Myers Squibb
• Sanofi
• Merck Sharp & Dohme Corp.
• Taiho Pharmaceutical (Otsuka Pharmaceutical Co., Ltd.)
• Bayer AG
• Regeneron Pharmaceuticals, Inc.

Key Questions Answered by Colorectal Cancer Market Report

• Global colorectal cancer market forecasts from 2024-2030
• Regional market forecasts from 2024-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2024-2030 covering 15 major countries from the regions as mentioned above
• Colorectal cancer submarket forecasts from 2024-2030 covering the market by treatment, route of administration, end-user, distribution channel, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level colorectal cancer markets from 2024-2030
• Competitive Landscape and market positioning of top 10 players operating in the market