Market Overview
The prevalence of life-threatening diseases is increasing rapidly across China, including the number of patients with colorectal cancer, i.e., one of the most commonly occurring diseases which occur in the following two forms:
With growing concerns over such health conditions, there's a burgeoning need for developing better diagnoses & treatments, i.e., demonstrating lucrative prospects for the leading players operating in the entire oncology industry of China.
Market Insights
The China Colorectal Cancer Market is expecting around 3.5% CAGR during 2022-27. The growth of the market is driven primarily by the rising instances of colorectal cancer among people across China, coupled with the mounting consumer awareness about constant innovations in its treatment & diagnosis.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 3.5% |
| Key Companies Profiled | Amgen China, Bristol-Myers Squibb, Bayer AG, Merck KGaA, Roche (china) Co., Ltd., Eli Lilly and Company, Sanofi China, Taiho Pharmaceutical, Novartis AG, Pfizer Inc. etc |
| Unit Denominations | USD Million/Billion |
The leading market players are conducting more and more R&D activities with the massive government support through investments & favorable policies to test & implement different therapies comprising various medications. As a result, several pharmaceutical companies have introduced advanced drugs to address the diverse treatment requirements of colorectal cancer.
Besides, the rapidly growing prevalence of colorectal cancer with high mortality rates is infusing the need for more effective therapeutics. As a result, several existing medications have undergone major R&D innovations with time and demonstrating a growing success rate.
Additionally, the increasing population of colorectal cancer patients in China is generating growth opportunities for the leading players to increase the production of medications at affordable prices, especially for treatments like chemotherapy & immunotherapy, and, as a result, fueling the market growth through 2027.
Key Trend in the China Colorectal Cancer Market
The government of China is investing substantially in the healthcare industry, especially in the oncology sector, to provide better diagnoses and therapies to patients. It, in turn, is also showcasing the active participation of various leading companies in expanding their immuno-oncology portfolios through self-developed assets & partnerships to boost the customer base across the country.
Impact of Covid-19 on the China Colorectal Cancer Market
Across China, being the epicenter of the Covid-19 pandemic, all industries were severely affected and disrupted the nation's economy, and the Colorectal Cancer Market was no exception. Despite immense pressure on the entire healthcare sector in the country, the government immensely supported the industry by increasingly focusing on addressing Covid-19 cases & temporarily subsiding any non-critical health conditions. As a result, it slowed down research & developments associated with the diagnosis & treatment of colorectal cancer.
In addition, most oncologists, though digital platforms, kept track of patients whose conditions were not severe and attended to them only under critical or emergency circumstances. However, patients who required utmost care & treatment were provided the supervision under strict safety protocols amidst the crisis.
Later, with gradual improvements, the government uplifted the restrictions on movement & allowed usual operations across healthcare facilities, along with the recommencement of research & development activities, which enabled the China Colorectal Cancer Market to regain its growth pace.
