Research Nester released a report titled “Colorectal Cancer Treatment Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers a detailed overview of the global colorectal cancer treatment market in terms of market segmentation by treatment type, end-user, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
The colorectal cancer treatment market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the increasing prevalence of colorectal cancer and the rise in multiple treatment options. According to the data collected by the American Cancer Society, in the U.S, 101,420 cases of colon cancer and 44,180 cases of rectal cancer, were registered in 2019.
The market is segmented by treatment type into surgery, chemotherapy, immunotherapy, radiotherapy, targeted therapy, ablation, and others. Among these segments, the targeted therapy segment is anticipated to hold the largest share by the end of 2021 in the colorectal cancer treatment market as a result of advancements in technology and its improved efficacy than other therapies used in the treatment of colorectal cancer.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the colorectal cancer treatment market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to the high rate of occurrence of colorectal cancer, along with the lead in technological advancement in the region.
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Increasing Prevalence of Colorectal Cancer and Rise in Multiple Treatment options to Drive Market Growth
According to the World Health Organization, colorectal cancer is the second most common type of cancer among both men and women globally, after lung cancer.
Age is one of the most predominant risk factors for colorectal cancer. It has been observed that individuals whose age is above 65 years or more possess a high risk of having colorectal cancer. Additionally, the increasing prevalence of colorectal cancer in recent years is also expected to boost the market growth in upcoming years. However, the expensive cost of colorectal cancer therapies and lack of awareness in low-income economies are some of the factors that are estimated to restrain market growth shortly.
This report also provides the existing competitive scenario of some of the key players of the global colorectal cancer treatment market which includes company profiling of Genentech, Inc., Eli Lilly and Company (NYSE: LLY), F. Hoffman-La Roche AG (SWX: RO), Bristol Myers Squibb (NYSE: BMY), Sanofi (EPA: SAN), Merck Sharp & Dohme Corp. (NYSE: MRK), Bayer AG (ETR: BAYN), Novartis AG (SWX: NOVN), and Taiho Oncology, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global colorectal cancer treatment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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