Global demand for carcinoembryonic antigen market was valued at approximately USD 2.11 billion in 2018, and is expected to generate revenue of around USD 3.23 billion by end of 2025, growing at a CAGR of around 6.3% between 2019 and 2025.
The report covers forecast and analysis for the carcinoembryonic antigen market on a global and regional level. The study provides historic data from 2016 along with forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the carcinoembryonic antigen market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the carcinoembryonic antigen market on a global as well as regional level.
According to the report, global demand for carcinoembryonic antigen market was valued at approximately USD 2.11 billion in 2018, and is expected to generate revenue of around USD 3.23 billion by end of 2025, growing at a CAGR of around 6.3% between 2019 and 2025.
In order to give the users of this report a comprehensive view on the carcinoembryonic antigen market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the carcinoembryonic antigen market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new application launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the carcinoembryonic antigen market on global and regional basis.
The study provides a crucial view on the carcinoembryonic antigen by segmenting the market based on application, end user and region. All the segments of carcinoembryonic antigen market have been analyzed based on present and future trends and the market is estimated from 2018 to 2025.
Carcinoembryonic antigens (CEA) are class of proteins usually seen in very low amounts in the blood of adults. In various types of cancers as well as benign non-cancerous conditions, the levels of carcinoembryonic antigen in the blood may be increased. Thus CEA can be used as marker for cancer diagnostic tests. CEA test is mainly used for diagnosing colorectal cancer. However it can also be used for diagnosing other cancers including lung, pancreatic, breast, ovarian, liver, stomach etc. This test can also be used for detecting various non-cancerous conditions such as an inflammation such as pancreatitis, benign breast disease, inflammation of the gallbladder or cholecystitis, emphysema, rectal polyps, ulcerative colitis, peptic ulcer etc.
The demand for carcinoembryonic antigen market is driven by increasing prevalence of cancer across the globe and increasing R&D investments for devising early cancer detection cost effective tools. Currently, carcinoembryonic antigen is most cost effective preclinical detection tool for diagnosis of cancer, primary detection of liver metastasis. However lack of awareness and ineffective approach for cancer detection at initial stage may hamper the market growth over the forecast period. Emerging nations with untapped market opportunities are expected to bring new growth avenues for major market players in the global carcinoembryonic antigen.
Based on application, global carcinoembryonic antigen market is bifurcated into thyroid cancer, prostate cancer, ovarian cancer, lung cancer, breast cancer, gastrointestinal (GI) cancer and other applications. Gastrointestinal cancer application segment accounted for largest market share in 2018 due to increasing prevalence of gastrointestinal cancer. Gastrointestinal cancer includes various caner types such as pancreatic, colon, rectal, liver, stomach, gallbladder, esophageal and anal cancer. Breast cancer application segment will register rapid growth over the forecast period.
The end user segment is divided research and academic institutes, diagnostic centers, hospitals and other end users. Hospitals end user segment held largest market share due to increasing number of patient pool. Diagnostic centers will see highest growth over the forecast period for carcinoembryonic antigen market.
North America dominated the global carcinoembryonic antigen market in 2018. Increasing prevalence of cancers and growing awareness are key factors driving the market growth in this region. Europe was second leading regional market. Availability of developed infrastructure, increasing awareness and growing prevalence of cancer are some of factors that boost market growth in this region. Latin America is expected to witness moderate growth over the forecast period. Asia Pacific region is estimated to exhibit highest growth for carcinoembryonic antigen market in the coming years. Growing need for cost effective early cancer detection tests, increasing cancer prevalence and increasing aging population are factors promoting carcinoembryonic antigen market growth in Asia Pacific. Middle East and Africa is projected see considerable growth in coming years.
Major players included in the report are Boster Biological Technology, RayBiotech, Inc., Omega Diagnostics Group PLC, Creative Diagnostics, Correlogic Systems, Inc., GenWay Biotech Inc., Quest Diagnostics, and F. Hoffmann-La Roche Ltd. among others.
The report segment of global carcinoembryonic antigen market as follows:
Global Carcinoembryonic Antigen Market: By Application
Global Carcinoembryonic Antigen Market: By End User
Global Carcinoembryonic Antigen Market: By Region