According to the UnivDatos, the rising global incidence of colorectal cancer, particularly in aging populations, advancements in early detection technologies, increased healthcare spending globally, health initiatives, and awareness campaigns promoting colorectal cancer screening will drive the global scenario of the colorectal cancer market. As per their “Colorectal Cancer Market” report, the global market was valued at USD 19 Billion in 2023, growing at a CAGR of about 4% during the forecast period from 2024 - 2032 to reach USD billion by 2032. 

Colorectal cancer is a type of cancer that affects the colon and rectum or bowel cancer. It is among the most prevalent forms of cancer, claiming third place and affecting millions of people annually. Colorectal cancer grows from colon or rectal polyps, which are precancerous and are likely to extend to other body parts if it is not diagnosed early.

Access sample report (including graphs, charts, and figures): https://univdatos.com/reports/colorectal-cancer-market?popup=report-enquiry

Demand

The demand for effective colorectal cancer treatments is driven by the increasing incidence of the disease, particularly in developed countries. According to the World Health Organization’s projections, by the year 2023, colorectal cancer will be ranked third among the most prevailing cancers globally, with an incidence of nearly 10 percent; this form of cancer is ranked second globally in cancer-related deaths. Factors such as aging populations, unhealthy lifestyles, and genetic predispositions contribute to the rising number of colorectal cancer cases. It predominantly affects older individuals, with most cases occurring in people aged 50 and above. Early detection and timely intervention are crucial for improving survival rates and reducing the burden of this disease on individuals and healthcare systems.

Applications

The treatment of colorectal cancer involves a multidisciplinary approach, including surgery, chemotherapy, radiation therapy, targeted therapy, and immunotherapy. Surgery is often the primary treatment for early-stage colorectal cancer, while advanced stages may require a combination of treatments. Chemotherapy and targeted therapy aim to destroy cancer cells or inhibit their growth, while immunotherapy helps the immune system recognize and attack cancer cells.

For instance, on April 8, 2024, Bristol Myers Squibb announced data from the cohorts of the Phase 1/ 2 KRYSTAL-1 study evaluating KRAZATI (adagrasib) in combination with cetuximab as a targeted treatment option for patients with previously treated KRASG12C-mutated locally advanced or metastatic colorectal cancer (CRC).

For instance, on November 8, 2023, Takeda announced that the U.S. Food and Drug Administration (FDA) had approved FRUZAQLA (fruquintinib), an oral targeted therapy for adults with metastatic colorectal cancer (mCRC) who have been previously treated with fluoropyrimidine-, oxaliplatin-, and irinotecan-based chemotherapy, an anti-VEGF therapy, and, if RAS wild-type and medically appropriate, an anti-EGFR therapy.

Cost

The cost of colorectal cancer treatment can vary widely depending on the stage of the disease, the type of treatment, and the healthcare system. In developed countries, the cost of surgery, chemotherapy, and other therapies can be substantial, placing a financial burden on patients and their families. As per the secondary research, the costs are as follows:

The average colon cancer cost for one year from diagnosis is USD 29,196.

Patients at the local stage of colon cancer pay at least USD 27,551.

Patients at a distant stage of colon cancer pay up to USD 30,748.

Access to affordable and effective treatments is essential for ensuring that all patients have the best possible outcomes.

Manufacturing

Colorectal cancer treatments are developed through the creation of drugs, medical equipment, and diagnosis instruments that help diagnose the disease and develop ways to treat it. Since the discovery of colorectal cancer, an important aspect of the development of drugs and medication has been the pharmaceutical industry. While healthcare technology companies manufacture diagnostic instruments like endoscopes or imaging machinery for use in operations. To ensure the availability and quality of colorectal cancer treatment, researchers, manufacturers, and healthcare providers have a role to play.

Click here to view the Report Description & TOC : https://univdatos.com/reports/colorectal-cancer-market

Conclusion

In conclusion, colorectal cancer is a significant health issue with a growing impact worldwide. Some of the screening, diagnostic, and treatment interventions are effective in enhancing patient outcomes. Nevertheless, there are gaps in realizing care that is efficient and affordable. Further studies, raising awareness, and effective cooperation among all parties are critical in overcoming existing difficulties and managing the workload of this type of cancer.

Contact Us:

UnivDatos

Contact Number - +1 978 733 0253

Email - contact@univdatos.com 

Website - www.univdatos.com

Linkedin- https://www.linkedin.com/company/univ-datos-market-insight/mycompany/