Market Research Future (MRFR)’s latest study projects that the Middle East and Africa Colorectal Cancer Market is set to expand, but at a slow pace, registering a CAGR of 1.8%. Rising burden of colorectal cancer is driving the growth of the market.
The markets in the Middle East such as the U.A.E, Saudi Arabia, etc. are expected to witness growth during the forecast period. The factors favoring the market expansion in the markets include developments in the healthcare sector, rising healthcare expenditure, adoption of latest technologies, etc. However, the African regions exhibit sluggish and limited growth due to lack of awareness, underdeveloped healthcare facilities, restricted technological penetration, etc.
Most of the regions in Middle East and Africa colorectal cancer market are not well-equipped to diagnose the disease. The initiatives undertaken by the national and international bodies to provide medical facilities in the underprivileged regions are likely to augur well for the Middle East and Africa colorectal cancer market players.
By type, Middle East and Africa colorectal cancer market is segmented into Adenocarcinomas, Carcinoid tumors, Gastrointestinal stromal tumors (GISTs), Lymphomas, Sarcomas, and others.
By diagnosis, the colorectal cancer market has been segmented into Faecal Occult Blood Test, Colonoscopy, Virtual Colonoscopy, Stool DNA test, Digital Rectal Examination, Flexible Sigmoidoscopy, Biopsy, Magnetic resonance imaging (MRI), and Others.
By treatment type, the Middle East and Africa colorectal cancer market is segmented into Surgery, Radiation Therapy, Chemotherapy, targeted drug therapy, and others.
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The U.A.E. is expected to lead the Middle East and Africa colorectal cancer market during the forecast period. The growth is attributable to the developed healthcare sector, increasing awareness about colorectal cancer, rising healthcare expenditure, etc. Saudi Arabia is likely to remain highly lucrative market over the next couple of years. The developments in the healthcare sector coupled with increasing investments are poised to have a positive influence on the proliferation of the Middle East and Africa colorectal cancer market. Meanwhile, Egypt is prognosticated to exhibit steady growth throughout the projection period. Rest of the regions in Middle East and Africa are forecasted to witness limited growth. The slow pace of growth in the region can be ascribed to the poor socio-economic condition, lack of awareness about colorectal cancer, limited technological penetration, underdeveloped healthcare sector, etc. However, the development initiatives undertaken by the United Nations and other similar bodies for uplifting the healthcare scenario in the region is estimated to have a positive impact on the colorectal cancer market growth in the region.
Some of the key players profiled in the report are F. Hoffmann-La Roche Ltd (Switzerland), Novartis AG(Switzerland), Abbott (US), Amgen Inc. (US), Beckman Coulter Inc. (US), AbbVie Inc. (US), Bayer AG (Germany), and Debiopharm Group (Switzerland).
In January 2018, Check-Cap, an Israeli firm, introduced a C-scan system which features a swallowable pill that has a positioning system, X-ray source, computing components, and a battery. This comes as a replacement of traditional invasive colonoscopies and has been cleared by European regulators via a CE Mark.
In February 2018, Israeli entrepreneurs launched ‘Belong’ which is a free patient navigation app for cancer patients. ‘Belong’ has partnerships with the American Cancer Society and Colorectal Cancer Canada (CCC).