The size of the Colorectal Cancer Market in the Asia Pacific is estimated to be worth USD 4.01 billion by 2027 from USD 3.39 billion in 2022, growing at a CAGR of 3.4% from 2022 to 2027.
Y-O-Y growth in the prevalence of colorectal cancer in this region, the rising number of new product releases, and the benefits of generic medicines primarily contribute to the Asia Pacific colorectal cancer market rise. The market is expected to expand due to the rising prevalence of colorectal cancer due to people's poor eating habits and irregular food intake schedules. These variables increase a person's chance of tumor development, which can lead to cancer. The total market is expected to improve as the elderly population grows and the number of clinical studies to bring new medications to market grows. Low-fiber diets, obesity, alcohol and cigarette use, and other variables all have a role. Compared to chemotherapy-only therapy, targeted medicines have already begun to lengthen the lives of metastatic colorectal cancer patients. Hormone treatment, gene expression modulators, apoptosis inducers, angiogenesis inhibitors, immunotherapies, signal transduction inhibitors, and toxin delivery agents are all forms of target therapy. Colon cancer genetic testing improves the chances of early detection. Therefore, the medical community strongly recommends it. Outside of research facilities, testing for the genes that cause colon cancer is only being started. If these medical tests are adopted, the number of instances of colon cancer detected early will rise.
In the next years, the Asia Pacific colorectal cancer market is projected to be fuelled by expanding emerging markets in developing nations. Colorectal cancer affects the colon, intestine, and rectum and is one of the most prevalent and fatal tumors caused by a combination of hereditary and environmental factors. It is the second most common cause of death in women and the third most common in males. Additionally, the colorectal cancer market is being fuelled by a growth in the prevalence population, a future product pipeline, and increased cancer preventive activities. Despite the available alternatives, only around 35% of the target population for both types of cancer participate. The rising prevalence of cancer and the availability of screening techniques are projected to propel the colorectal cancer market in the Asia Pacific to greater levels over the forecast period.
The market's expansion is predicted to be restricted by pricing pressure on drug producers. In addition, the high cost of colorectal cancer treatments and a lack of awareness in low-income countries are expected to restrict the market growth in the near future.
Lifestyle changes have also been shown to be effective in the prevention of colorectal cancer in observational studies. Colorectal cancer surgery is currently the most effective therapy option. Chemotherapy has relatively minor survival advantages. As a result, there is much confusion and disagreement regarding the costs and chances of survival. The colorectal medicines industry is being held back by the growing use of biologics and targeted treatments. Instead of chemical medicines that weaken the immune system, biological treatment employs the body's own immune system to combat cancer.
This research report on the APAC Colorectal Cancer Market has been segmented and sub-segmented into the following categories:
Regionally, The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period due to the rising aging population and increasing participation of several private & public establishments to organize awareness programs on Colorectal Cancer. China is the largest market for Colorectal Cancer in this region, followed by India. In addition, Indonesia, Vietnam, and Malaysia are some of the significant players in this market.
The market for colorectal cancer diagnostics and treatments in Asia-Pacific is anticipated to develop rapidly in the coming years, with China and India leading the way. For decades, cancer has been a leading cause of mortality in Japan. The Japanese government has been developing and implementing several projects and programs to improve cancer treatment quality and raise cancer awareness. The market in this area has grown due to increased government funding for colorectal cancer surgical methods and medicines. In addition, new technological advancements, FDA approval of new medications, and important competitors in the market are contributing to the industry's growth.
KEY MARKET PLAYERS:
A few promising companies in the APAC Colorectal Cancer Market profiled in this report are Abbott Diagnostics, Alere, Beckman Coulter, Clinical Genomics, Companion Dx, Hoffmann La Roche, Debiopharm Group, and Vaccinogen BD.
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