CAGR of 7.9% forecast for Asia-Pacific colorectal cancer therapeutics market

The colorectal cancer market across the Asia-Pacific (APAC) region, which covers China, India, Australia, South Korea and Japan, is set to rise from $4.7 billion in 2016 to almost $8 billion in 2023, representing a compound annual growth rate of 7.9%.

According to business intelligence provider GBI Research’s latest report, states this relatively strong growth will be driven by the expected approval of promising therapies within several distinct patient segments, as well as the growing market uptake of therapies already approved in Japan, South Korea and Australia.

Early detection of colorectal cancer is strongly associated with an increase in survival rates, so the APAC region will see a considerable effort to improve the diagnostic techniques for patients in stages I-III of the disease.