asia-pacific colorectal cancer Market

Asia-Pacific, the colorectal cancer market, is anticipated to reach US$ 4,900.6 Mn in 2027 from US$ 3,313.9 Mn in 2018. The market is projected to grow with a CAGR of 4.2% from 2020-2027.

The colorectal cancer market is growing primarily due to the increasing prevalence of colorectal cancer, new product launches, and benefits offered by generic drugs that are boosting the market over the years. Restraining factors, such as pricing pressure on drug manufacturers, are likely to damage the growth of the market in the coming years. On the other hand, growing emerging markets in developing countries is expected to have a positive impact on the growth of the Asia-Pacific colorectal cancer market in the coming years.

Colorectal cancer is also known as colon cancer, bowel cancer, or rectal cancer. This type of cancer is the second leading cause of death in women and third in men. Colorectal cancer may be benign, or non-cancerous, or malignant. The symptoms shown by the patients who have colon cancer include changes in bowel habits, diarrhea or constipation, blood in stools that make it look black. Colorectal cancer can be treated with chemotherapy, radiotherapy, and surgery.

Cancer has been the leading cause of deaths in Japan since various 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, the ?Acceleration plan for cancer control? was formulated. 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, to conquer cancer, the Genome Medical Forum 2016 was organized to provide an opportunity to reconstruct the cancer medical system. Basic Plan to Promote the Cabinet decided cancer Control Programs in October 2017 based on discussion by the Cancer Control Promotion Council. The cases of cancer have significantly increased in Japan during recent years. Data obtained by the WHO reveals, around 883,395 new cancer cases were detected in 2018, and deaths due to cancer were approximately 409,399 during the same year. Among men, the prevalence of colorectum, lung, stomach, prostate, and bladder cancers was significantly high. Whereas, 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 market at a significant pace during the forecast period.
Colorectal cancer is one of the commonly found and lethal cancers which is developed in an individual with the combined influence of genetic and environmental factors.
In 2019, the diagnosis type accounted for the largest market share in the Asia-Pacific colorectal cancer market. The growth of diagnosis type is expected to grow due to rising colorectal screening programs and initiatives across the world. The diagnosis type segment is also estimated to mark the highest CAGR in the market during the forecast period, owing to the increasing technological development that is enabling the early detection of colorectal cancer by the various method of screenings.
In 2019, the hospitals segment held the most significant market share of the colorectal cancer market by the end user. This segment is also anticipated to hold a considerable portion of the market in 2027, owing to the need for hospitals as primary healthcare centers for the people. The segment is also anticipated to witness growth at a significant rate during the forecast period.

Some of the significant primary and secondary sources for colorectal cancer included in the report are World Health Organization (WHO), Food and Drug Administration (FDA), Canadian Cancer Society, Centers for Disease Control and Prevention (CDC), American Cancer Society and others.