Europe Colorectal Cancer Market

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 Strategic Insights

Strategic insights for the Europe Colorectal Cancer provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Colorectal Cancer Report Scope

Europe Colorectal Cancer Regional Insights

The geographic scope of the Europe Colorectal Cancer refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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.