The market for in-vitro colorectal cancer (CRC) screening tests is expected to undergo a significant increase over the next six years, jumping from its current value of more than $333m to over $1.6 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 25.4%, according to new findings from research and consulting firm reportstack and GlobalData.
The company’s latest report MediPoint: In-Vitro Colorectal Cancer Screening Tests - Global Analysis and Market Forecasts states that the 5EU countries – France, Germany, Italy, Spain and the UK – hold the largest CRC screening test market share of 44%, followed by the Asia-Pacific (APAC) region and US with shares of 32% and 22%, respectively. Brazil currently claims just 2% of the global market.
Dr Andrew Thompson, GlobalData’s Senior Analyst covering In-Vitro Diagnostics, says: “Currently, the CRC screening test market is dominated by fecal occult blood (FOB) tests, which are employed across the US, 5EU and APAC regions, and account for 94% of the global market.
“However, a number of unmet needs exist within the screening test market, including the accuracy of FOB tests. With a significant number of false positive results, these tests force a heavy burden on diagnostic colonoscopy services. Additionally, patient compliance in undertaking stool-based screening tests presents another major unmet need, as patients often consider these tests to be highly inconvenient.”
With an increasing prevalence of CRC cases across the major countries, a number of new screening tests are now in the pipeline, which will help to address these needs and drive the anticipated CRC screening test market expansion.
Reportstack expects the launch of novel blood and stool tests, which are based on the detection of DNA biomarkers, to take place from 2015. New blood-based tests are forecast to be taken up more quickly than those that are stool-based, due to the heightened convenience offered to patients.
Dr Thompson continues: “Introducing a new biomarker test, which is supported by appropriate clinical efficacy data, will cause the FOB test to be much less recommended. Nevertheless, while biomarker tests may be offered as an alternative to a FOB test or a colonoscopy, some physicians will still recommend a particular type of test based on what they see as efficacy.”
Despite being a major driver behind the CRC screening test market increase over the forecast period, the introduction of new products will be hindered by regulations and formalized screening programs in the US and EU. Lack of patient awareness surrounding CRC, along with a number of reimbursement issues, will also present a barrier to any further growth.
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