24 May 2022 | News
ColoClear is a non-invasive stool DNA test to detect colon cancer
Image credit: shutterstock
New Horizon Health and Prenetics has announced a strategic partnership to launch ColoClear by Circle, the "First Colorectal Cancer Screening Test approved in China", in Hong Kong, and for its first overseas venture in Southeast Asia.
New Horizon Health and Prenetics will jointly promote ColoClear in Hong Kong, Macau and Taiwan, with additional options to expand the partnership into Southeast Asian markets. Under the terms of the agreement, Prenetics will have the exclusive rights to provide ColoClear laboratory testing service and the profits from the sales of ColoClear will be shared between New Horizon Health and Prenetics. On June 8, ColoClear will be officially launched in Hong Kong.
Colorectal cancer screening has a huge potential of growth in the Asian market. According to the Frost & Sullivan Research Report, the colorectal cancer high-risk population in Hong Kong and Southeast Asian countries has reached $128 million in 2019. 94.3 per cent of them have never conducted a screening test . The Hong Kong's market in colorectal cancer screening is predicted to grow from $1.3 million in 2020 to $290 million in 2030, with a ten-year CAGR of 71.7 per cent. On the other hand, the same market in Southeast Asia is predicted to grow from $33.4 million in 2020 to $2.79 billion in 2030, with ten-year CAGR of 55.7 per cent.