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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 Size
The global in-vitro colorectal cancer screening tests market was valued at USD 920.4 million in 2023, with Latin America holding a significant market share. The market is driven by the growing demand for non-invasive or minimally invasive colorectal cancer screening methods. It is expected to grow at a CAGR of 5.53% during the forecast period of 2024-2032, with the values likely to attain USD 1492.8 million by 2032.
Latin America In-vitro Colorectal Cancer Screening Tests Market Outlook
- The market share is influenced by the growing preference for non-invasive colorectal cancer screening methods such as fecal immunochemical tests (FIT) and DNA-based tests.
- 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. Such initiatives are likely to increase screening rates, which is expected to elevate the Latin America in-vitro colorectal cancer screening tests market value in the forecast period.
- 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. The rising burden of colorectal cancer is poised to augment the market demand for in-vitro screening tests.
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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