Carcinoembryonic antigen (CEA) is a glycoprotein involved in cell adhesion, commonly found in embryonic tissues and various carcinomas. In clinical settings, CEA is primarily used as a tumor marker to aid in the diagnosis, monitoring, and management of cancer, particularly colorectal cancer. It helps in assessing the effectiveness of cancer treatments, and used to monitor patients post-treatment for signs of cancer recurrence.
Sizing and Forecast
The carcinoembryonic antigen market size has grown rapidly in recent years. It will grow from $1.07 billion in 2023 to $1.22 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to cancer prevalence globally, aging population, awareness campaigns, healthcare infrastructure development, and reimbursement policies.
The carcinoembryonic antigen market size is expected to see rapid growth in the next few years. It will grow to $2.02 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to focus on early detection and prevention, expansion of cancer screening programs, patient demand for personalized medicine, growing demand for minimally invasive diagnostic procedures. Major trends in the forecast period include increased adoption of personalized medicine, technological advancements in diagnostic platforms, integration with artificial intelligence and big data, collaborations and partnerships, and regulatory approvals and reimbursement policies.
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Segmentation & Regional Insights
The carcinoembryonic antigen market covered in this report is segmented –
1) By Test Type: Molecular Tests, Serology Tests
2) By Gender: Male, Female
3) By Application: Gastrointestinal Cancer, Colorectal Cancer, Pancreatic Cancer, Breast Cancer, Lung Cancer, Thyroid Cancer, Ovarian Cancer, Other Applications
4) By End User: Hospitals, Diagnostic Centers, Cancer Centers, Research And Academic Institutes
North America was the largest region in the carcinoembryonic antigen market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carcinoembryonic antigen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in cancer incidence is expected to propel the growth of the carcinoembryonic antigen market going forward. Cancer is a disease characterized by the uncontrolled growth and spread of abnormal cells. There is a growing incidence of cancer due to factors such as lifestyle choices, environmental pollution, genetic predisposition, and an aging population. Carcinoembryonic antigen (CEA) is a tumor marker used in cancer to monitor disease progression and treatment effectiveness. For instance, in February 2024, according to the World Health Organization (WHO), a US-based intergovernmental organization, approximately 35 million new cancer cases are predicted in 2050, a 77% increase from the estimated 20 million cases in 2022. Therefore, the rise in cancer incidence is driving the growth of the carcinoembryonic antigen market.
Key Industry Players
Major companies operating in the carcinoembryonic antigen market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Merck KGaA, Siemens Healthineers, Laboratory Corporation of America Holdings, Quest Diagnostics, Agilient Technologies, Inc., Beckman Coulter Inc., bioMérieux SA, Quidel Corporation, Ortho Clinical Diagnostics, Abcam plc, RayBiotech Inc., Creative Diagnostics, Lee Biosolutions Inc., Hytest Ltd., Prospec-Tany Technogene Ltd, Boster Biological Technology, Metropolis Healthcare
The carcinoembryonic antigen market report table of contents includes:
1. Executive Summary
- Carcinoembryonic Antigen Market Characteristics
- Carcinoembryonic Antigen Market Trends And Strategies
- Carcinoembryonic Antigen Market – Macro Economic Scenario
- Global Carcinoembryonic Antigen Market Size and Growth
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32. Global Carcinoembryonic Antigen Market Competitive Benchmarking - Global Carcinoembryonic Antigen Market Competitive Dashboard
- Key Mergers And Acquisitions In The Carcinoembryonic Antigen Market
- Carcinoembryonic Antigen Market Future Outlook and Potential Analysis
36. Appendix
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