The in-vitro colorectal cancer screening tests market is projected to expand substantially by 2027 owing to advancements in non-invasive screening and diagnostics methods. In addition, rising prevalence of colorectal cancer worldwide is likely to further propel market demand over the forecast period.

In-vitro colorectal cancer screening tests refer to non-invasive form of testing that is considered to be an effective method of diagnosing colorectal cancer (CRC). These screening tests are performed to detect early CRC or precancerous lesions in order to lower the mortality and morbidity of the illness. Early and accurate testing has been proven to yield positive treatment results in CRC.

Moreover, rapid technological advancement in the field to diagnostics has augmented product uptake in recent years. Furthermore, industry players are implementing strategic initiatives to strengthen their footing in the competitive landscape, which has been favorable for the global market scenario.

For instance, in February 2020, Oncocyte Corporation, a leading molecular diagnostics company, announced the acquisition of Insight Genetics (IG), a key genetic testing and diagnostics firm. The deal enabled Oncocyte to integrate Insight Genetic's advanced molecular diagnostic capabilities into its testing portfolio to include different types and multiple stages of cancer, making its services accessible to a wider patient population.

The in-vitro colorectal cancer screening tests market has been segmented on the basis of end-use, test type, and region. In terms of test type, the market has further been divided into CRC DNA screening test, fecal occult blood test (FOBT), and biomarker test.

The CRC DNA screening test sub-segment was valued at around USD 67 million in 2020 and is expected to showcase sturdy growth over 2021-2027. High sensitivity of the CRC DNA screening test, along with its ability to be combined with tests for improved accuracy, is likely to boost segmental growth over the following years.

With respect to end-use, the market has been bifurcated into diagnostics laboratories, hospitals, clinics, and others. The clinics sub-segment is anticipated to witness optimistic growth to attain a valuation of more than USD 117 million by 2027 The ease of service offered by clinics, coupled with the implementation of favorable policies by health agencies, is estimated to drive product demand through the study timeline.

From the regional point of view, the Latin America in-vitro colorectal cancer screening tests market was valued at over USD 48 million in 2020 and is slated to progress at a robust CAGR through the review period on account of growing incidences of colorectal cancer in the region. Moreover, surging adoption of CRC screening programs by authorities across LATAM is set to facilitate regional market expansion through 2027.