Colorectal Cancer Market Scope And Analysis

Colorectal Cancer Market Report Scope

End User Insights

Based on end user, the global colorectal cancer market is bifurcated into hospitals and diagnostic & research laboratories. In 2022, the hospitals segment holds a larger market share, and is expected to register a higher CAGR in the market during the forecast period. Hospitals are the largest entities that have all the facilities. The hospital provides extensive healthcare and medical services to patients suffering from various diseases and disorders. Nowadays, hospitals give better services to their patients. Enormous patients are admitted for the procedure while several patients walk-in for the diagnostics. Among the admitted patients, most of them are already suffering from a few disorders. Thus, hospitals are contributing a significant market share to the global colorectal cancer market and are expected to continue the trend during the forecast period.

Several emergency and treatment centers need an investigation of the body's organs, tissues, and functions that can be done accurately with the help of magnetic resonance imaging, CT, and X-Ray. Most surgeries are being performed in hospitals, owing to continuous patient care and monitoring. As hospitals are primary healthcare centers for the people, it is likely to propel the growth of the end user segment over the forecast years. Therefore, owing to all the above-mentioned factors, the global colorectal cancer market for the hospital segment is likely to grow in the coming years.

Product launches and collaborations are highly adopted strategies by the global colorectal cancer market players to expand their global footprints and product portfolios. The players also focus on the partnership strategy to enlarge their clientele, allowing them to maintain their brand name globally. They aim to flourish their market shares with the development of innovative products. A few of the recent key market developments are listed below: 

• In May 2022, Bruker launched an innovative 7 Tesla and 9.4 Tesla conduction-cooled Maxwell magnets for its market-leading preclinical magnetic resonance imaging (MRI) systems portfolio. Following the success of its BioSpec Maxwell 3 Tesla model, the new range of Maxwell 7 Tesla and 9.4 Tesla magnets eliminates the need for liquid Helium or Nitrogen refills while offering high-field sensitivity and resolution for advanced preclinical MRI and PET/MR research.
• In January 2022, Amgen and Generate Biomedicines entered a research collaboration agreement to discover and develop protein therapeutics for five clinical targets across multiple therapeutic areas and modalities. The collaboration will increase drug discovery efforts, generating novel protein sequences with optimal therapeutic properties.

F. Hoffmann-La Roche AG, Epigenomics AG, Novigenix SA, Abbott Laboratories, Amgen Inc., Volitionrx, EDP Biotech, Clinical Genomics Technologies Pvt Ltd, Bruker, and Quest Diagnostics Incorporated are offering products and services in the market.