The Australian Colorectal Cancer drugs market size stood at around USD xx billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Colorectal cancer, also known as bowel cancer, colon cancer, or rectal cancer, and is any form of cancer that affects the colon and the rectum. Colorectal cancer was the 3rd most diagnosed cancer in Australia in 2016. It is estimated that it will be the 4th most diagnosed cancer in 2020. According to the Australian Government in 2016, there were 15,352 new cases of colorectal cancer diagnosed in Australia (8,390 males and 6,962 females).
The rising prevalence of colorectal cancer owing to the unhealthy food habits and odd food consumption timings of individuals are factors driving the growth of the market. These factors add to the risk of an individual the growth of tumors that would lead to cancer. The increasing geriatric population base and a growing number of clinical trials to market new drugs are set to further enhance the overall market demand of Colorectal Cancer during the forecast period.
Bowel cancer risk is increased by smoking, eating an excessive amount of red meat (especially when charred), eating processed meats (smoked, cured, salted, or preserved), drinking alcohol, and being overweight or obese.