Spain Colorectal Cancer Diagnostics Market Insights Forecasts to 2033

• The Spain Colorectal Cancer Diagnostics Market Size was valued at USD 253.8 Million in 2023.
• The Market Size is Growing at a CAGR of 7.21% from 2023 to 2033
• The Spain Colorectal Cancer Diagnostics Market Size is Expected to Reach USD 509.2 Million by 2033

The Spain Colorectal Cancer Diagnostics Market Size is Anticipated to Reach USD 509.2 Million by 2033, Growing at a CAGR of 7.21% from 2023 to 2033.  

Market Overview

Colorectal cancer, commonly known as colon cancer, is a type of cancer that develops in the tissues of the colon or rectum. The colon is the first and longest part of the large intestine, responsible for absorbing water and nutrients from food while converting waste into stool. The rectum, located at the lower end of the large intestine, stores stool until it is expelled through the anus.  Colorectal cancer often begins as a polyp, which is a growth on the inner lining of the colon or rectum. While most polyps are benign, some can develop into cancer over time. Colorectal cancer (CRC) is a significant health concern in Spain, where it is the most common type of cancer and the leading cause of cancer-related deaths among women. In 2022, there were an estimated 41,646 new cases of CRC in Spain, and in 2023, that number increased to an estimated 42,721 new cases. The National Health System (NHS) Cancer Strategy recommends biennial CRC screening for individuals aged 50 to 69, using the fecal occult blood test (FOBT). However, the uptake of fecal immunochemical testing (FIT) remains low, at just 38.01%.

Report Coverage

This research report categorizes the market for the Spain colorectal cancer diagnostics based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Spain colorectal cancer diagnostics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Spain colorectal cancer diagnostics market.

Driving Factors

In Spain, increased healthcare spending is enhancing access to diagnostics and therapies for colorectal cancer. Governments and healthcare institutions are investing in cancer prevention and screening, which is contributing to the growth of the colorectal cancer diagnostics market. The rising prevalence of this disease, along with the demand for non-invasive diagnostic techniques, is also driving market expansion. Traditionally, colorectal cancer was diagnosed through invasive procedures like sigmoidoscopies and colonoscopies; however, advancements in non-invasive methods are transforming the approach to detection and monitoring.

Restraining Factors

Despite the availability of effective screening methods such as sigmoidoscopy, colonoscopy, and fecal occult blood tests (FOBT), many people still do not undergo colorectal cancer screening. This reluctance is often caused by misconceptions about these tests, anxiety regarding a potential cancer diagnosis, or a lack of understanding about the benefits of early detection. While there is some awareness of the importance of screening, various barriers continue to prevent access to these essential services.

 Market Segmentation

The Spain colorectal cancer diagnostics market share is classified into test type and application.

• The imaging test segment is expected to hold the largest market share through the forecast period.

The Spain colorectal cancer diagnostics market is segmented by test type into blood test, stool test, fecal occult blood test (FOBT), Fecal biomarker test, CRC DNA screening test, imaging test, biopsy, and others. Among these, the imaging test segment is expected to hold the largest market share through the forecast period. Imaging procedures such as computed tomography (CT), magnetic resonance imaging (MRI), and positron emission tomography (PET) are highly effective in identifying abnormalities in the colon and rectum. These tests can greatly enhance patient outcomes by detecting concerning growths, polyps, or tumors at early stages, which allows for timely management. Furthermore, imaging tests provide a thorough evaluation of the extent and spread of colorectal cancer.

• The hospitals segment is expected to dominate the Spain colorectal cancer diagnostics market during the forecast period.       

Based on the application, the Spain colorectal cancer diagnostics market is divided into hospitals, diagnostic imaging centers, cancer research centers, and others. Among these, the hospitals segment is expected to dominate the Spain colorectal cancer diagnostics market during the forecast period. A multidisciplinary team consisting of oncologists, surgeons, radiologists, pathologists, and other specialists often collaborates in the treatment of colorectal cancer. Hospitals provide a platform for these professionals to work together, leading to more accurate diagnoses and personalized treatment plans tailored to each patient's needs. These medical facilities employ highly skilled personnel who specialize in the diagnosis and treatment of colorectal cancer. Their extensive training and experience in interpreting diagnostic tests and recognizing subtle signs of the disease enable prompt intervention and improve patient outcomes.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Spain colorectal cancer diagnostics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Hologic Inc
• Qiagen NV
• Illumina Inc
• Roche Holding AG
• Thermo Fisher Scientific Inc
• Siemens Healthineers AG ADR
• Koninklijke Philips NV
• Becton Dickinson & Co
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Spain, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Spain Colorectal Cancer Diagnostics Market based on the below-mentioned segments:

Spain Colorectal Cancer Diagnostics Market, By Test Type

• Blood Test
• Stool Test
• Fecal Occult Blood Test (FOBT)
• Fecal Biomarker Test
• CRC DNA Screening Test
• Imaging Test
• Biopsy
• Others

Spain Colorectal Cancer Diagnostics Market, By Application

• Hospitals
• Diagnostic Imaging Centers
• Cancer Research Centers
• Others