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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Latin America In-vitro Colorectal Cancer Screening Tests Market Analysis
In-vitro colorectal cancer screening tests are designed to detect abnormalities such as blood in stool, genetic mutations, or other biomarkers associated to colorectal cancer. They can identify individuals at a high risk of colorectal cancer and thus play an integral role in early detection and prevention efforts. The increasing use of these diagnostic tests can be attributed to the non-invasive or minimally invasive nature is expected to fuel their adoption rates and drive the Latin America in-vitro colorectal cancer screening tests market growth.
Recent data suggests that deaths due to colorectal cancer are rising in Latin American countries. In Brazil, colorectal cancer stands as the second most frequent cancer in men and women, with the mortality rate estimated to reach 9.4% of those diagnosed. This indicates the growing need for effective screening tests, intended to detect this cancer at an early stage when the interventions are most likely to be successful. Thus, the rising burden of colorectal cancer coupled with the increasing aging population, is poised to augment the market demand for these diagnostic tests.
One of the major Latin America in-vitro colorectal cancer screening tests market trends is the increased initiatives and awareness campaigns to promote cancer screening and reduce cancer mortality rates. In October 2023, the Pan American Health Organization (PAHO) and the International Agency for Research on Cancer (IARC) collaborated to launch the Latin American and the Caribbean Code against Cancer to develop recommendations for cancer prevention in the region. They released 17 actions to help prevent cancer including the need for early detection tests of colorectal cancer for people aged between 50 and 74. Such collaborative measures are likely to increase awareness among the public, leading to higher screening rates and greater adoption of in-vitro screening tests, and ultimately propelling the market growth.
Latin America In-vitro Colorectal Cancer Screening Tests Market Report Snapshots
Latin America In-vitro Colorectal Cancer Screening Tests Market Size
Latin America In-vitro Colorectal Cancer Screening Tests Market Analysis
Latin America In-vitro Colorectal Cancer Screening Tests Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The Latin America in-vitro colorectal cancer screening tests market is expected to be driven by the rising demand for the global market, which is anticipated to grow at a CAGR of 5.53% during the forecast period of 2024-2032 and is likely to reach a market value of USD 1492.8 million by 2032.
The rising prevalence of colorectal cancer and advancements in screening technology are fuelling the demand for the market.
One of the significant market trends is the increased initiatives and awareness campaigns to promote cancer screening. In October 2023, the Pan American Health Organization (PAHO) and the International Agency for Research on Cancer (IARC) jointly launched the Latin American and the Caribbean Code against Cancer to develop recommendations for cancer prevention in the region.
Based on the testing type, the market is segmented into fecal occult blood tests, biomarker tests, CRC DNA screening tests, and flexible sigmoidoscopy, among others.
By imaging type, the market is divided into colonoscopy, proctoscopy, CT scan, ultrasound, MRI, and PET scan.
End users of the market are hospitals, clinics, and diagnostic laboratories.
The market segmentation by countries includes Brazil, Argentina, and Mexico, among others.
The key players in the market are Beckman Coulter Inc., Abbott, Siemens Healthineers International AG, Quest Diagnostics, Oncocyte Corporation, Merck KGaA, Randox Laboratories Ltd., R-Biopharm AG, Sysmex Corporation, and Medline Industries LP.
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