South & Central America Colorectal Cancer Diagnostics Market Forecast to 2028
South & Central America Colorectal Cancer Diagnostics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Modality [Imaging Tests (Colonoscopy, CT Colonography, Flexible Sigmoidoscopy, Capsule Endoscopy, and Others) and Stool-Based Tests (Faecal Immunochemical Test (FIT), Guaiac-Based Faecal Occult Blood Test, and Stool DNA Test)] and End User (Hospitals, Diagnostic Laboratories, Cancer Research Institutes, and Others)
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Description
Artificial Intelligence in Colonoscopy Drive South & Central America Colorectal Cancer Diagnostics Market
The early detection of colorectal cancer (CRC) in gastroenterology offers patients the best opportunity for disease-free and overall survival. However, colonoscopy results show significant variations in lesion detection. The adenoma detection rate (ADR) is the gold standard for evaluating the quality of colonoscopy performed by endoscopists for colorectal cancer screening.
The use of AI technology in diagnosing and treating several types of cancer, especially colorectal cancer, is now gaining substantial attention. Various AI-supporting systems are available for personalized and novel strategies for managing colorectal cancer. In endoscopy, AI broadly relates to a computer vision technology, allowing computers to “see” and interpret visual content. Through machine learning processes and deep learning, AI systems can be trained to recognize “normal” characteristics by linking gold standards to suitable images. Using computer vision for lesion detection will be the first application of AI in gastroenterology. It would help improve the quality of endoscopy practices in finding and recognizing polyps on colonoscopy.
Although AI in colonoscopy is a new field with an extended scope, it can potentially improve the quality of endoscopic examinations and patient care. It can also transform the process of managing performance and quality betterment in colonoscopy, alongside improving several key performance measures. Medtronic has launched its AI-powered GI Genius module for colonoscopy in India. This transformative solution that leans on deep learning algorithms and real-time data empowers physicians to detect and treat colorectal cancer by offering enhanced visualization during colonoscopy. AI applications such as the GI Genius can lead to an improved ADR, facilitating the earlier detection of colorectal cancer, better clinical management of lesions, and detailed characterization of tissues. Thus, the adoption of AI for colorectal cancer imaging tests is likely to bring new trends in the South & Central America colorectal cancer diagnostics market in the coming years.
South & Central America Colorectal Cancer Diagnostics Market Overview
The South & Central America colorectal cancer diagnostics market is segmented into Brazil, Argentina, and the Rest of South & Central America. According to the Brazilian Ministry of Health, cases of colon cancer have increased significantly due to the pesticides applied to the crops. Consumption of such food and water can lead to the development of colon cancer. In addition, the prevalence of colorectal cancer is higher among older adults. In 2020, around 55,102 new colorectal cancer cases were recorded in Brazil, as per Globocan 2020 data. In addition, 27,346 cases were reported in males and 27,756 in females. Awareness campaigns regarding colorectal cancer have grown across Brazil, especially from the private sector. The Brazilian Association of Intestinal Cancer Prevention (ABRAPRECI) and the Colorectal Cancer Prevention and Screening Program have been initiated. The growth in awareness campaigns and screening programs has increased the demand for colonoscopy services. In addition, in December 2020, a French diagnostic firm HalioDx signed an agreement with Diagnosticos da America (DASA) to distribute its Immunoscore colon cancer risk-assessment test in Brazil. Immunoscore assists in predicting the risk of relapse in early-stage colon cancer by measuring host immune responses at tumor sites, which helps plan treatment strategies. Under the agreement terms, in Brazil, Sao Paulo-based DASA has exclusive distribution rights to the test, offering it through 40 laboratory networks. Owing to the above-mentioned factors, the South & Central America colorectal cancer diagnostics market in Brazil is likely to witness lucrative opportunities during the forecast period.
South & Central America Colorectal Cancer Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Colorectal Cancer Diagnostics Market Segmentation
The South & Central America colorectal cancer diagnostics market is segmented into modality, end user, and country.
Based on modality, the South & Central America colorectal cancer diagnostics market is bifurcated into imaging tests and stool-based tests. In 2023, the imaging tests segment held a larger share of the South & Central America colorectal cancer diagnostics market. The market for the imaging tests segment is further segmented into colonoscopy, ct colonography, flexible sigmoidoscopy, capsule endoscopy, and others. The market for the stool based tests segment is subsegmented into faecal immunochemical test (fit), guaiac-based faecal occult blood test (gfobt), and stool DNA test.
Based on end user, the South & Central America colorectal cancer diagnostics market is segmented into hospitals, diagnostic laboratories, cancer research institutes, and others. In 2023, the hospitals segment held the largest share of the South & Central America colorectal cancer diagnostics market.
Based on country, the South & Central America colorectal cancer diagnostics market is segmented into Brazil, Argentina, and Rest of South & Central America. In 2023, Brazil accounted for the largest share of the South & Central America colorectal cancer diagnostics market.
Medtronic Plc, Illumina Inc, F. Hoffmann-La Roche Ltd, Quest Diagnostics Inc, Siemens Healthineers AG, Bruker Corp.; and Eiken Chemical Co., Ltd. are the leading companies operating in the South & Central America colorectal cancer diagnostics market.
Summary Info
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According to the research team’ research, the South & Central America colorectal cancer diagnostic market was valued at US$ 749.13 million in 2023 and is expected to reach US$ 1,087.86 million by 2028, registering a CAGR of 7.7% from 2023 to 2028. Increasing prevalence of colorectal cancer and artificial intelligence in colonoscopy are the critical factors attributed to the South & Central America colorectal cancer diagnostic market expansion.
Colorectal cancer is a malignant tumor that develops in colonic or rectal tissues. Surgery is the most common treatment for all stages of colon cancer. In ideal situations, if the cancer is diagnosed in the early stages, doctors can remove the tumor via surgical procedures. A colonoscopy is an important screening test for colorectal cancer diagnostics, and it has become a part of routine cancer screening. Thus, the rising incidence of colorectal cancer drives the growth of the South & Central America colorectal cancer diagnostics market.
On the contrary, low accuracy of screening based on faecal immunochemical tests (FITs) hurdles the growth of South & Central America colorectal cancer diagnostic market.
Based on modality, the South & Central America colorectal cancer diagnostics market is bifurcated into imaging tests and stool-based tests. The imaging tests segment held 95.8% share of South & Central America colorectal cancer diagnostic market in 2023, amassing US$ 717.68 million. It is projected to garner US$ 1,045.83 million by 2028 to expand at 7.8% CAGR during 2023–2028. The market for the imaging tests segment is further segmented into colonoscopy, ct colonography, flexible sigmoidoscopy, capsule endoscopy, and others. The market for the stool-based tests segment is subsegmented into faecal immunochemical test (fit), guaiac-based faecal occult blood test (gfobt), and stool DNA test.
Based on end user, the South & Central America colorectal cancer diagnostics market is segmented into hospitals, diagnostic laboratories, cancer research institutes, and others. The hospitals segment held 42.2% share of South & Central America colorectal cancer diagnostic market in 2023, amassing US$ 315.93 million. It is projected to garner US$ 470.42 million by 2028 to expand at 8.3% CAGR during 2023–2028.
Based on country, the South & Central America colorectal cancer diagnostics market is segmented into Brazil, Argentina, and Rest of South & Central America. Our regional analysis states that Brazil captured 59.0% share of South & Central America colorectal cancer diagnostic market in 2023. It was assessed at US$ 441.98 million in 2023 and is likely to hit US$ 653.98 million by 2028, exhibiting a CAGR of 8.2% during the forecast period.
Key players profiles in the South & Central America colorectal cancer diagnostic market report Medtronic Plc, Illumina Inc, F. Hoffmann-La Roche Ltd, Quest Diagnostics Inc, Siemens Healthineers AG, Bruker Corp.; and Eiken Chemical Co., Ltd., among others.
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America colorectal cancer diagnostics market.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the South & Central America colorectal cancer diagnostics market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the colorectal cancer diagnostics market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Research Team Report Guidance
1.3 Market Segmentation
1.3.1 South & Central America Colorectal Cancer Diagnostics Market – by Modality
1.3.2 South & Central America Colorectal Cancer Diagnostics Market – by End User
1.3.3 South & Central America Colorectal Cancer Diagnostics Market – by Country
2. South & Central America Colorectal Cancer Diagnostics Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Colorectal Cancer Diagnostics Market – Market Landscape
4.1 Overview
4.2 South & Central America PEST Analysis
4.3 Expert’s Opinion
5. South & Central America Colorectal Cancer Diagnostics Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Prevalence of Colorectal Cancer
5.1.2 Launches of New Products
5.2 Key Restraints
5.2.1 Low Accuracy of Screening Based on Faecal Immunochemical Tests (FITs)
5.3 Future Trends
5.3.1 Artificial Intelligence in Colonoscopy
5.4 Impact Analysis
6. Colorectal Cancer Diagnostics Market – South & Central America Analysis
6.1 South & Central America Colorectal Cancer Diagnostics Market Revenue Forecast and Analysis
7. South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 – by Modality
7.1 Overview
7.2 South & Central America Colorectal Cancer Diagnostics Market Revenue Share, by Modality 2022 & 2028 (%)
7.3 Stool Based Tests
7.3.1 Overview
7.3.2 Stool Based Tests: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
7.3.3 Faecal Immunochemical Test (FIT)
7.3.3.1 Overview
7.3.3.2 Faecal Immunochemical Test (FIT): South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
7.3.4 Guaiac-based Faecal Occult Blood Test (gFOBT)
7.3.4.1 Overview
7.3.4.2 Guaiac-based Faecal Occult Blood Test (gFOBT): South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
7.3.5 Stool DNA Test
7.3.5.1 Overview
7.3.5.2 Stool DNA Test: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Imaging Tests
7.4.1 Overview
7.4.2 Imaging Tests: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
7.4.3 Colonoscopy
7.4.3.1 Overview
7.4.3.2 Colonoscopy: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
7.4.4 CT Colonography
7.4.4.1 Overview
7.4.4.2 CT Colonography: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
7.4.5 Flexible Sigmoidoscopy
7.4.5.1 Overview
7.4.5.2 Flexible Sigmoidoscopy: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
7.4.6 Capsule Endoscopy
7.4.6.1 Overview
7.4.6.2 Capsule Endoscopy: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
7.4.7 Others
7.4.7.1 Overview
7.4.7.2 Others: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
8. South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 – by End User
8.1 Overview
8.2 South & Central America Colorectal Cancer Diagnostics Market Revenue Share, by End User 2022 & 2028 (%)
8.3 Hospitals
8.3.1 Overview
8.3.2 Hospitals: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Diagnostic Laboratories
8.4.1 Overview
8.4.2 Diagnostic Laboratories: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Cancer Research Institutes
8.5.1 Overview
8.5.2 Cancer Research Institutes: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
9. South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 – Country Analysis
9.1 Overview
9.1.1 South & Central America: Colorectal Cancer Diagnostics Market, by country, 2022 & 2028 (%)
9.1.1.1 Brazil: Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Overview
9.1.1.1.2 Brazil: Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.3 Brazil: Colorectal Cancer Diagnostics Market, by Modality, 2020–2028 (US$ Million)
9.1.1.1.3.1 Brazil: Colorectal Cancer Diagnostics Market, For Imaging Tests by Modality, 2020–2028 (US$ Million)
9.1.1.1.3.2 Brazil: Colorectal Cancer Diagnostics Market, For Stool Based Tests by Modality, 2020–2028 (US$ Million)
9.1.1.1.4 Brazil: Colorectal Cancer Diagnostics Market, by End User, 2020–2028 (US$ Million)
9.1.1.2 Argentina: Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Overview
9.1.1.2.2 Argentina: Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.3 Argentina: Colorectal Cancer Diagnostics Market, by Modality, 2020–2028 (US$ Million)
9.1.1.2.3.1 Argentina: Colorectal Cancer Diagnostics Market, For Imaging Tests by Modality, 2020–2028 (US$ Million)
9.1.1.2.3.2 Argentina: Colorectal Cancer Diagnostics Market, For Stool-Based Tests, 2020–2028 (US$ Million)
9.1.1.2.4 Argentina: Colorectal Cancer Diagnostics Market, by End User, 2020–2028 (US$ Million)
9.1.1.3 Rest of South & Central America: Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Overview
9.1.1.3.2 Rest of South & Central America: Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.3 Rest of South & Central America: Colorectal Cancer Diagnostics Market, by Modality, 2020–2028 (US$ Million)
9.1.1.3.3.1 Rest of South & Central America: Colorectal Cancer Diagnostics Market, For Imaging Tests by Modality, 2020–2028 (US$ Million)
9.1.1.3.3.2 Rest of South & Central America: Colorectal Cancer Diagnostics Market, For Stool Based Tests by Modality, 2020–2028 (US$ Million)
9.1.1.3.4 Rest of South & Central America: Colorectal Cancer Diagnostics Market, by End User, 2020–2028 (US$ Million)
10. South & Central America Colorectal Cancer Diagnostics Market–Industry Landscape
10.1 Overview
10.2 Inorganic Growth Strategies
10.2.1 Overview
10.3 Organic Growth Strategies
10.3.1 Overview
11. Company Profiles
11.1 Medtronic Plc
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Illumina Inc
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 F. Hoffmann-La Roche Ltd
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Quest Diagnostics Inc
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Siemens Healthineers AG
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Bruker Corp
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Eiken Chemical Co., Ltd.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
12. Appendix
12.1 About Research Team
12.2 Glossary of Terms
LIST OF TABLES
Table 1. South & Central America Colorectal Cancer Diagnostics Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. Brazil Colorectal Cancer Diagnostics Market, by Modality – Revenue and Forecast to 2028 (US$ Million)
Table 3. Brazil Colorectal Cancer Diagnostics Market, For Imaging Tests by Modality– Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil Colorectal Cancer Diagnostics Market, For Stool Based Tests by Modality– Revenue and Forecast to 2028 (US$ Million)
Table 5. Brazil Colorectal Cancer Diagnostics Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 6. Argentina Colorectal Cancer Diagnostics Market, by Modality – Revenue and Forecast to 2028 (US$ Million)
Table 7. Argentina Colorectal Cancer Diagnostics Market, For Imaging Tests by Modality– Revenue and Forecast to 2028 (US$ Million)
Table 8. Argentina Colorectal Cancer Diagnostics Market, For Stool Based Tests by Modality– Revenue and Forecast to 2028 (US$ Million)
Table 9. Argentina Colorectal Cancer Diagnostics Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of South & Central America Colorectal Cancer Diagnostics Market, by Modality – Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of South & Central America Colorectal Cancer Diagnostics Market, For Imaging Tests by Modality– Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of South & Central America Colorectal Cancer Diagnostics Market, For Stool Based Tests by Modality– Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of South & Central America Colorectal Cancer Diagnostics Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 14. Recent Inorganic Growth Strategies in the South & Central America colorectal cancer diagnostics market
Table 15. Recent Organic Growth Strategies in the South & Central America colorectal cancer diagnostics market
Table 16. Glossary of Terms
LIST OF FIGURES
Figure 1. South & Central America Colorectal Cancer Diagnostics Market Segmentation
Figure 2. South & Central America Colorectal Cancer Diagnostics Market, by Country
Figure 3. South & Central America Colorectal Cancer Diagnostics Market Overview
Figure 4. Imaging Tests Segment Held Largest Share of Modality Segment in South & Central America Colorectal Cancer Diagnostics Market
Figure 5. Brazil Expected to Show Remarkable Growth During Forecast Period
Figure 6. South and Central America: PEST Analysis
Figure 7. Experts’ Opinion
Figure 8. South & Central America Colorectal Cancer Diagnostics Market Impact Analysis of Driver and Restraints
Figure 9. South & Central America Colorectal Cancer Diagnostics Market – Revenue Forecast and Analysis – 2020- 2028
Figure 10. South & Central America Colorectal Cancer Diagnostics Market Revenue Share, by Modality 2022 & 2028 (%)
Figure 11. Stool Based Tests: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Faecal Immunochemical Test (FIT): South & Central Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Guaiac-based Faecal Occult Blood Test (gFOBT): South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Stool DNA Test: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Imaging Tests: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Colonoscopy: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. CT Colonography: South & Central American Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Flexible Sigmoidoscopy: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Capsule Endoscopy: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. South & Central America Colorectal Cancer Diagnostics Market Revenue Share, by End User 2022 & 2028 (%)
Figure 22. Hospitals: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Diagnostic Laboratories: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Cancer Research Institutes: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Others: South & Central America Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. South & Central America: Colorectal Cancer Diagnostics Market, by Key Country – Revenue (2022) (US$ Million)
Figure 27. South & Central America: Colorectal Cancer Diagnostics Market, by country, 2022 & 2028 (%)
Figure 28. Brazil: Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Argentina: Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Rest of South & Central America: Colorectal Cancer Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
The List of Companies – South & Central America Colorectal Cancer Diagnostics Market
o Bruker Corp
o Clinical
o F. Hoffmann-La Roche Ltd
o Illumina Inc
o Medtronic Plc
o Quest Diagnostics Inc
o Siemens Healthineers AG
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