By Faith Ashmore, Benzinga
Colorectal cancer is the third most common cancer worldwide, and the second most fatal. Although the majority of colorectal cancer cases have historically occurred in individuals aged 50 and older, it is increasingly affecting younger people. Alarming statistics reveal that new cases of colorectal cancer in individuals under the age of 50 have been steadily rising over the past few decades. Colorectal cancer is now the leading cause of cancer death for Americans between the ages of 20 and 59 years old according to the National Cancer Institute. However, younger adults are not routinely screened for colorectal cancer as it is still relatively uncommon in their age group.
Determining the exact reasons for this uptick remains a challenge, although many experts believe this trend is being driven by a sedentary lifestyle, obesity, smoking, heavy alcohol use, low-fiber, high-fat diets or diets high in processed meats and other environmental factors. However, even without absolutely clear answers, regular screening is crucial to early detection followed by highly successful treatment of colorectal cancer. The CDC reports that colorectal cancer is the second most fatal cancer in the United States and Europe. However, it is also the most preventable, with early detection leading to survival rates above 90%.
Given the rising incidence in young individuals and the majority's lack of regular screenings until later in life, accessible screenings are more important than ever. By providing efficient and convenient methods for early detection, healthcare professionals can make significant progress in combating colorectal cancer and ultimately save countless lives.
Mainz Biomed (NASDAQ: MYNZ), a company that specializes in developing molecular genetic diagnostic solutions for life-threatening conditions, has created ColoAlert, an innovative product that addresses the need for easier and more accessible cancer screenings for quick detection and treatment of colorectal cancer. This non-invasive and user-friendly test aims to make colorectal cancer screening fast, simple and precise. The test is the first DNA-based screening test for colorectal cancer in Europe.
ColoAlert has been recommended by the U.S. Preventive Services Task Force stool DNA tests, such as ColoAlert, should be conducted once every three years, starting at age 45. Every year, 16.6 million colonoscopies are performed in the U.S. alone, and yet one-third of U.S. residents aged 50-75 have never been screened for colon cancer. Many times, fear of a colonoscopy contributes to populations avoiding the screening; ColoAlert is a non-invasive solution to the long-standing apprehension.
Simply put, this innovative screening tool is not limited to younger ages. In fact, ColoAlert may have an annual market opportunity in excess of $4.0 Billion in the U.S. for testing populations aged 50 and above every three years. ColoAlert's unique genetic profiles allow for tailored treatment for each individual patient, leading to better health outcomes for patients with colorectal cancer. This revolutionary product is a major stride in combating colorectal cancer and has the potential to save countless lives.
Mainz Biomed is quickly emerging as a strong contender in the diagnostic industry, putting renowned companies like Exact Sciences (NASDAQ: EXAS) and Geneoscopy Inc. on notice. While both Exact Sciences and Geneoscopy utilize DNA and RNA biomarkers respectively, Mainz Biomed is breaking new ground by revolutionizing the field with its cutting-edge evaluation of groundbreaking patent-pending mRNA biomarkers.
This is evident by the company's ColoAlert recent success in the market. The revenues generated by ColoAlert in the first half of 2023 surged by an impressive 108% when compared to the same period in 2022. This remarkable growth further solidifies Mainz Biomed's position in the industry and showcases its ability to develop groundbreaking products that meet the needs of healthcare professionals and patients alike.
With its pioneering approach and revenue growth over H1 this year, Mainz Biomed seems poised to disrupt the market and establish itself as a trusted and innovative provider of molecular genetic diagnostic solutions. Their commitment to pushing the boundaries of diagnostic technology and growth trajectory seems to be making them a force to be reckoned with in the industry, setting them apart from their competitors.
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