COLORECTAL CANCER SCREENING MARKET ANALYSIS

High cost of screening tests is expected to hamper the global colorectal cancer screening market growth. Many countries, including the U.S. and the U.K., face challenge of providing care to a growing population of cancer patients due to expensive screening and treatment. According to the report published by the U.S. Centers for Disease Control and Prevention (CDC), in April 2019, screening tests, on average, cost US$ 2,060 per person, ranging from US$ 1,057 for both tests to US$ 3,153 for colonoscopy. The average cost of colonoscopy in India is INR Rs. 3,350. The maximum charge for colonoscopy in India is up to INR Rs. 50,000.

Market Opportunity – Increasing Cancer Prevention Initiatives

Increasing cancer prevention initiatives is expected to offer lucrative growth opportunities for the key player in the colorectal cancer screening market. For instance, in 2021, the U.S. government declared March as the National Colorectal Cancer Awareness Month to increase awareness about colorectal cancer management. It is a chance to bring greater attention to this terrible disease and to offer access to lifesaving screening, care, and treatment.