Colorectal Cancer Treatment Market Size & Forecast by 2030

[Research Report] The colorectal cancer treatment market was valued at US$ 18.810 billion in 2022 and is projected to reach US$ 23.978 billion by 2030. It is expected to register a CAGR of 3.1% in 2022-2030.

Market Insights and Analyst View:

The growing market size is attributed to the growing number of colorectal cancer cases and increasing approvals for targeted therapy and immunotherapy to treat colorectal cancer. In addition, strategic initiatives by companies to stay competitive in the market are fueling the market growth. A significant rise in personalized medicines to address customer needs for the treatment of colorectal cancer is likely to bring new colorectal cancer treatment market trends during the forecast period.

Growth Drivers and Challenges:

Colorectal cancer is a malignant tumor that occurs in colonic or rectal tissues. Lifestyle factors such as low intake of fruits and vegetables, smoking addiction, sedentary lifestyle, obesity, high intake of processed meats, and excessive alcohol consumption are contributing to the growth of colorectal cancer cases. It is the third most common type of cancer (excluding skin cancer) diagnosed yearly in the US. In 2023, the World Health Organization (WHO) stated that colorectal cancer is the 3rd most common cancer worldwide and is the 2nd leading cause of cancer-related deaths globally. As per the same source, about 10% of the total cases diagnosed globally are colorectal cancer cases. As per the American Cancer Society’s estimates, about 106,000 new colon cancer cases and ~46,000 new rectal cancer cases were registered in the US in 2023.

As per the data provided by the European Cancer Information System, colorectal cancer accounted for about 12.7% of all new cancers diagnosed in 2020, and approximately 12.4% of total mortalities were caused by colorectal cancer in 2020 in EU-27 countries. Due to this high prevalence, colorectal cancer is the second most frequently occurring cancer, after breast cancer, and the second leading cause of cancer-related deaths, after lung cancer. According to the International Agency for Research on Cancer & GLOBOCAN, ~1 million new colorectal cancer cases were reported in Asia in 2020. Japan, Malaysia, China, Singapore, Turkey, and Korea witnessed high prevalence rates as compared to the other countries in Asia Pacific. Additionally, by 2040, the global colorectal cancer burden is estimated to increase by 72% to more than 3 million new cases, posing a severe threat to human health. Thus, the rising incidence of colorectal cancer drives the colorectal cancer treatment market growth.

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Colorectal Cancer Treatment Market: Strategic Insights

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Report Segmentation and Scope:

The colorectal cancer treatment market analysis has been carried out by considering the following segments: treatment type, age group, end user, and geography. The colorectal cancer treatment market, by treatment type, is segmented into surgery, chemotherapy, targeted therapy, immunotherapy, and others. Based on age group, the market is divided into below 49 years, 50–64 years, and above 65 years. The market, by end user, is segmented into hospitals, specialty clinics, home care, and others. The scope of the colorectal cancer treatment market report entails North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, Japan, India, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Segmental Analysis:

The colorectal cancer treatment market, by treatment type, is segmented into surgery, chemotherapy, targeted therapy, immunotherapy, and others.  In 2022, the surgery segment held the largest colorectal cancer treatment market share and is expected to record the highest CAGR during 2022–2030. Surgery is considered the most common treatment for all stages of colorectal cancer. If the cancer is diagnosed in the early stages, then surgical procedures are performed to remove the tumor.

Based on age group, the market is segmented into below 49 years, 50–64 years, and above 65 years. In 2022, the above 65 years segment held the largest colorectal cancer treatment market share and is projected to record the highest CAGR during 2022–2030. According to an American Cancer Society report, it is estimated that more than half of the new cases diagnosed in the US are aged above 65 years, and more than two-thirds of all colorectal cancer deaths were reported among individuals aged above 65 years.

Based on end user, the market is divided into hospitals, specialty clinics, home care, and others. The colorectal cancer treatment market size for the hospital segment is likely to surge during 2022–2030.

Regional Analysis:

North America is the biggest contributor to the global colorectal cancer treatment market growth. Asia Pacific is predicted to show the highest CAGR in the market during 2022–2030. North America held the largest share of the global market in 2022 owing to growing number of colorectal cancers, increasing technological advancements, high prevalence of colorectal cancer in people aged below 50 years, and presence of key market players involved in new and existing product developments. In North America, the US held the largest share of the market in 2022.

Industry Developments and Future Opportunities:

The colorectal cancer treatment market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases. Strategies by key players operating in the colorectal cancer treatment market are listed below:

• In November 2023, Takeda Pharmaceutical announced that it had received approval from the US Food and Drug Administration (FDA) for its oral targeted therapy FRUZAQLA (fruquintinib) to treat adults suffering from metastatic colorectal cancer (mCRC). FRUZAQLA is the first and only selective inhibitor of all three VEGF receptor kinases approved in the US for treating mCRC previously, regardless of biomarker status.
• In August 2023, Taiho Pharmaceutical Co., Ltd. announced that the US FDA had approved LONSURF (trifluridine/tipiracil) as a single agent and in combination with bevacizumab for the treatment of adult patients suffering from mCRC. These patients are previously treated with oxaliplatin-, fluoropyrimidine-, and irinotecan-based chemotherapy, an anti-VEGF biological therapy.

Colorectal Cancer Treatment Market Regional Insights

The regional trends and factors influencing the Colorectal Cancer Treatment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Colorectal Cancer Treatment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Colorectal Cancer Treatment Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Colorectal Cancer Treatment Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Colorectal Cancer Treatment Market are:

1. Genentech Inc
2. Eli Lilly and Company
3. Pfizer Inc
4. Takeda Pharmaceuticals
5. Bristol Myers Squibb

Disclaimer: The companies listed above are not ranked in any particular order.

Competitive Landscape and Key Companies:

Genentech Inc, Eli Lilly and Company, Pfizer Inc, Takeda Pharmaceuticals, Bristol Myers Squibb, Merck, Bayer AG, Regeneron Pharmaceuticals Inc, Novartis AG, and Ipsen Biopharmaceuticals Inc are among the prominent players profiled in the colorectal cancer treatment market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. These companies focus on geographic expansions and new product launches to meet the growing demand from consumers worldwide and increase their product range in specialty portfolios. Their global presence allows them to serve a large customer base, subsequently facilitating market expansion.