Colorectal cancer – one of the most common cancers
Colorectal cancer is the third most common cancer diagnosis, after breast and prostate cancer, and the second deadliest form of cancer. Today, the 5-year survival rate is over 90 percent for patients diagnosed with breast and prostate cancer, while it is only 67 percent for patients with colorectal cancer.
This is one of the reasons why society’s focus is now directed towards colorectal cancer.
The total global market for colorectal cancer diagnostics is estimated to amount to SEK 37.1 billion in 2022 and it is expected to grow by 8.4% annually, to SEK 70.5 billion in 2030.
Rapidly growing need for reliable rectal cancer diagnostics
Cancer in the lower part of the intestine (rectum) is called rectal cancer. Globally, over 732,000 suffer from rectal cancer annually, of which just over 2,400 are in Sweden. The number of people affected by rectal cancer is expected to increase globally by 50 percent from 2020 to 2030. The main reasons are an aging population and more and more people globally adopting a Western lifestyle.
Estimated global market potential for NanoEcho’s system, based on a price per examination of SEK 10-20,000
2022
Expected annual growth
8,4%
2030
Estimated global market potential for NanoEcho’s system, based on a price per survey of SEK 10 000-20 000
2022:
2030:
Expected annual growth
8,4%
Rectal cancer
2020:
600,000 cases annually globally
2030:
900,000 cases annually globally
Market potential
2020:
SEK 6 – 12 billion
2030:
SEK 9 – 18 billion
Estimated global market potential for NanoEcho’s system, based on a price per survey of SEK 10 000-20 000
Reliable diagnosis leads to health economic gains
The majority of patients diagnosed with early rectal cancer are recommended to undergo an extensive surgical procedure. It has been found that many patients undergo this unnecessarily. By adding NanoEcho’s method and thus more reliable diagnostics, the intention is for the patient to receive an individually tailored treatment, which often means a smaller intervention with a lower risk of complications. This leads to cost efficiency, that healthcare resources are optimised at the same time as the patient’s quality of life increases.
RELIABLE DIAGNOSTICS
INDIVIDUALISED TREATMENT
OPTIMISES HEALTHCARE RESOURCES
LOWER RISK OF COMPLICATIONS
IMPROVED QUALITY OF LIFE FOR PATIENTS
COST-EFFECTIVE FOR HEALTHCARE AND SOCIETY
An analysis conducted by the Institute for Health and Economic (IHE) indicates that NanoEcho’s diagnostics have the potential to be a new cost-effective complement to current diagnostic methods.
Reduced healthcare costs
Reduced healthcare costs are achieved by freeing up healthcare resources. A smaller intervention means a reduced cost for the intervention, which does not need to be done in an operating room and is done without hospitalisation. It requires fewer days of care associated with the procedure, less cost for complications in the aftermath, and less need for continuous return visits.
Local surgery
Major surgery
Procedure
∼25 000 SEK
>250 000 SEK
Care days
∼0 days
∼1-2 weeks
Better quality of life
A better quality of life is achieved by avoiding the stoma and unwanted leakage. A smaller intervention also means a lower risk of infections, lower risk of complications and preservation of sexual function, and normal emptying of the bladder.
- Minor surgery
- Fewer hospital days
- Fewer follow-up visits
- Avoidance of stoma
- Reduced risk of complications
- Preserved sexual and bladder function
Reduced healthcare costs
Reduced healthcare costs are achieved by freeing up healthcare resources. A smaller intervention means a reduced cost for the intervention, which does not need to be done in an operating room and is done without hospitalisation. It requires fewer days of care associated with the procedure, less cost for complications in the aftermath, and less need for continuous return visits.
- Minor surgery
- Fewer hospital days
- Fewer follow-up visits
Better quality of life
A better quality of life is achieved by avoiding the stoma and unwanted leakage. A smaller intervention also means a lower risk of infections, lower risk of complications and preservation of sexual function, and normal emptying of the bladder.
- Avoidance of stoma
- Reduced risk of complications
- Preserved sexual and bladder function
Questions and answers about health economics
- To analyse how different implementation scenarios, pricing, and sales volumes affect cost-effectiveness.
- To simulate different scenarios and understand how the method affects both healthcare services and patients.
- To facilitate procurement processes and justify why the method is worth a certain price.
- To strengthen credibility in dialogue with authorities, potential partners, and customers.