Europe Colorectal Cancer Market to 2027 - Regional Analysis and Forecasts by Modality (Diagnosis Type, Therapy Type, Imaging Type); End User (Hospitals, Diagnostic and Research Laboratories), and Country
The colorectal cancer market in Europe is expected to grow from US$ 4,627.82 million in 2022 to US$ 5,819.96 million by 2028; it is estimated to grow at a CAGR of 2.9% from 2022 to 2028.
The market for colorectal cancer is ascribed to frequent diagnostic tests and new drug launches. Many major market players are involved in manufacturing a wide range of drugs and diagnostic tests that help in reducing the burden of colorectal cancer. For instance, in June 2021, Bristol Myers Squibb announced the approval of Opdivo plus Yervoy by the European Commission (EC) for the treatment of adult patients with microsatellite instability-high (MSI-H) metastatic colorectal cancer. Also, in September 2019, Lupin, an Indian pharmaceutical company, partnered with Boehringer Ingelheim, a German-based pharmaceutical company, for the development of cancer drugs. The companies collaborated to develop and commercialize a drug based on the MEK inhibitor. The molecule is likely to target specific cancer cells and treat patients suffering from stomach and skin cancer. In June 2019, Pfizer, Inc. launched ZIRABEV, a biosimilar to Avastin that helps in the treatment of five cancers, including colorectal cancer. Thus, the constant developments and new product launches in colorectal cancer diagnostics and therapeutics are driving the colorectal cancer market growth in Europe.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe colorectal cancer market at a substantial CAGR during the forecast period.
Europe Colorectal Cancer Market Revenue and Forecast to 2028 (US$ Million)
Europe Colorectal Cancer Market Segmentation
The Europe colorectal cancer market is segmented into modality, end user, and country. Based on modality, the Europe colorectal cancer market is segmented into diagnosis type, therapy type, and imaging type. In 2022, the diagnosis type segment held the largest market share and is expected to register the highest CAGR during the forecast period. Based on end user, the Europe colorectal cancer market is bifurcated into hospitals and diagnostic & research laboratories. In 2022, the hospitals segment held a larger market share. Based on country, the Europe colorectal cancer market is segmented into France, Germany, Italy, Spain, the UK, and the Rest of Europe. The Rest of Europe held the largest market share in 2022.
Abbott, Amgen Inc., Bruker Corporation, EDP Biotech Corporation, Epigenomics AG, F. Hoffmann-La Roche AG, Quest Diagnostics, and VolitionRx Limited are among the leading companies operating in the Europe colorectal cancer market.
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe colorectal cancer market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Europe colorectal cancer market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the colorectal cancer market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution"
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook