Carcinoembryonic Antigen Market Research Report - Global Forecast till 2030

Carcinoembryonic Antigen Market Research Report: Information by Application (Colorectal Cancer, Pancreatic Cancer, Breast Cancer, Lung Cancer, and Others), End User (Hospitals and Clinics, Diagnostic Centers, and Others), and Region (the Americas, Europe, Asia-Pacific, and the Middle East & Africa)—Forecast till 2030

ID: MRFR/Pharma/0288-HCR | December 2022 | Region: Global | 81 Pages         

Carcinoembryonic Antigen Market

Carcinoembryonic Antigen Market has been expected to increased USD 2,934.5 Million in 2030 at a CAGR of 15.2%, over the estimated forecasting period.

Segmentation

By Application Colorectal Cancer Pancreatic Cancer Breast Cancer Lung Cancer Others
By End User Hospitals and Clinics Diagnostic Centers Others

Key Players

  • Lee BioSolutions
  • F. Hoffmann-La Roche Ltd
  • Quest Diagnostics Incorporated
  • Genway Biotech
  • RayBiotech

Drivers

  • Increasing prevalence of cancer
  • rising healthcare expenditures
  • developing diagnostic technologies
Speak to Analyst Request a Free Sample

Carcinoembryonic Antigen Market Overview


The Carcinoembryonic Antigen Market is projected to reach USD 2,934.5 Million by 2030 at 15.2% CAGR during the forecast period 2022-2030. It is also present in the mucosal cells of the gastrointestinal cells, colorectum, and small amounts are present in the blood. This Antigen is created ny the gastrointestinal tissues during fetal development. A carcinoembryonic antigen test is generally a blood test that measures the carcinoembryonic antigen protein amount in the blood.


It is used to manage and diagnose specific types of cancer like breast cancer, colorectal or colon cancer, cancer of the gastrointestinal tract, ovarian cancer, liver cancer, and others; in early colon patients, the sensitivity of carcinoembryonic Antigen is low. In 2018, the World Cancer Research Fund International said that breast cancer was the most commonly occurring cancer in women and the second most common cancer. Breast cancer was considered for more than 2 million new cases in 2018 globally. This enhances the carcinoembryonic antigen market value.


COVID-19 Analysis 


Both the pharmaceutical and biotech companies, together with governments globally, are working on marking the covid-19 pandemic, from planning for medicine supply chain challenges to supporting the development of vaccines. Around 155 molecules and 115, vaccine candidates are in the research and development pipeline. However, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic rush in demand for the management of covid. Such high demand for these drugs has provided huge opportunities to the manufacturers of covid-19 management drugs, as many developed countries are facing a supply shortage of these drugs. The pharmaceutical and biotechnology industry is predicted to witness important growth in the future owing to the demand for vaccine and treatment drugs for covid-19. This, in turn, is expected to have an important impact on the carcinoembryonic antigen market.


Chief Factors Existing In The Market 



  • Key Market Drivers


Increase number of cancer patients:- About 70% of deaths occur from cancer in rural areas as cancer is considered the second major cause of death globally. Every year there is a rise in the number of cancer patient reports leading to increasing per capita healthcare expenditure and minimally diagnostic procedures; hence it drives the market growth upwards. The use of tobacco and alcohol is the most major risk factor for cancer and is considered for approximately 22% of cancer deaths. This results in more CEA tests in the carcinoembryonic antigen market.


Increase in senior population:- The senior population is more prone to technology advancement, chronic disease conditions, and government initiatives relating to cancer awareness by NGOs such as Cancer Prevention and Control Research Network are operating the growth of the market. CEA appears to be the most cost-friendly test for the detection of curable repetitive disease.



  • Market Challenges


Suddenly rise senior population who are more prone to chronic diseases which includes cancer but factors like highly expensive treatments which is not possible for everyone to afford. Lack of supply chains and decrease in Carcinoembryonic Antigen Market Share in the regions due to post covid crisis is another major challenge for the market.



  • Market Opportunities


There is a huge change of infection while testing various types of tests, which can lead to cancer if the patient is a senior citizen as they have low immunity power. This can be a major opportunity for the market. Increasing consumption of alcohol, processed food, and desk-bound lifestyles are factors that rises the commonness of cancer, and it is an opportunity for Carcinoembryonic Antigen Market. 



  • Market restraints


Due to a lack of awareness about the CEA test and unsuccessful attempts to detect cancer at the initial stage, the threat of infections by CEA testing is restraining the carcinoembryonic antigen market growth.


The test is not an effective screening test for hidden cancer since the beginning of the tumors may not cause significant blood elevations. Some tumors never cause an abnormal blood level, even in advanced disease. Because there is variability between results obtained between laboratories, when monitoring a patient with cancer, the same laboratory should do repeat testing.


Cumulative Evaluation Of The Market 


The carcinoembryonic antigen market is expected to show important growth over the estimated period. Carcinoembryonic Antigen is a glycoprotein whose molecular weight of approximately 180 kD, which is present in normal fetal tissue. It is present at very low concentrations in adults. The concentration can rise if the person is affected by any tumors and cancers. Therefore, the rising commonness rates of cancers such as colorectal cancer and pancreatic cancer are estimated to push the demand for precise diagnostics.


Market Segmentation 


The carcinoembryonic antigen market has been divided into application, end-user, and region. Under the application, the market has been segmented into colorectal cancer, pancreatic cancer, breast cancer, lung cancer, and others. The market, by end-user, has been divided into hospitals and clinics, diagnostic centers, and others. The carcinoembryonic antigen market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The carcinoembryonic antigen market in the Americas has been divided into North America and Latin America, with the North American market divided into the U.S. and Canada. The European market has been divided into Western Europe and Eastern Europe. The market in Western Europe has been classified as France, Germany, Spain, the U.K., Italy, and the rest of Western Europe. The market in Asia-Pacific has been divided into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in Middle East & Africa is segmented into the Middle East and Africa.  


Regional Analysis 


The North American market has been dominated by the U.S. and was valued at around USD 763.6 million in the year 2017, owing to the huge commonness of the population suffering from cancer. As the U.S. is the seventh rated region with the highest cancer rates in the world, about 300 of every 100,000 Americans are developing cancer each year. According to the National Cancer Institute, a predicted 1,735,350 new cases of cancer will be diagnosed in the U.S. in 2018. 


 India's carcinoembryonic antigen market is estimated to grow considerably at a CAGR of 9.5% during the estimation period. Growing cancer commonness, increased aging population, suitable infrastructure for hospitals and diagnostic centers, and increased awareness levels among the aging population towards cancer treatment are likely to rise the industry demand in India.


Competitive Intensity Within The Industry 


Some of the main key players operating in the carcinoembryonic antigen market are Lee BioSolutions, F. Hoffmann-La Roche Ltd, Quest Diagnostics Incorporated, Genway Biotech, Inc., RayBiotech Inc, Merck KGaA, Abcam plc, Boster Biological Technology, Creative Diagnostics, and Laboratory Corporation of America Holdings. Industry rivalry limits for this market are expected to remain at a medium-high level during the estimated period. The market is stronger in nature and is, therefore, marked by an extensive presence of mergers and acquisitions. These initiatives are expected to rise the competitive rivalry levels. Manufacturers face pain-staking price-based competition and are also under constant pressure to introduce new and technologically advanced products.


Recent Market Developments 


Kitov Pharma developed first-in-class combination oncology therapies.


In 2019, Redpath Integrated Pathology launched a new, patent-pending, customized test to accurately measure carcinoembryonic Antigen (CEA) in all pancreatic cyst fluids. 


The market is highly strong, and hence companies are engaged in mergers and acquisitions. Manufacturers face continuous pressure to introduce new technology with more sensitivity in the market.


Report overview


This report contains a market overview, Carcinoembryonic Antigen Market Analysis, Carcinoembryonic Antigen Market trends, Carcinoembryonic Antigen Market Forecast,  market challenges, market opportunities, market restraints etc.


Key Industrial Segments


By Application



  • Colorectal Cancer

  • Pancreatic Cancer

  • Breast Cancer

  • Lung Cancer

  • Others


By End-User



  • Hospitals and Clinics

  • Diagnostic Centers

  • Others


 By Region


Americas



  • North America

  • US

  • Canada

  • Latin America


Europe



  • Western Europe

  • Germany

  • France

  • Italy

  • Spain

  • UK

  • Rest of Western Europe

  • Eastern Europe


Asia-Pacific



  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Rest of Asia-Pacific


Middle East & Africa



  • Middle East

  • Africa



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 2,934.5 Million
  CAGR   15.2%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Application and End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Lee BioSolutions (US), F. Hoffmann-La Roche Ltd (Switzerland), Quest Diagnostics Incorporated (US), Genway Biotech, Inc. (US), RayBiotech, Inc. (US), Merck KGaA (Germany), Abcam plc (UK), Boster Biological Technology (US), Creative Diagnostics (US), and Laboratory Corporation of America Holdings (US)
  Key Market Opportunities   risk of infections associated with this type of testing, along with the inefficiency of diagnosing cancer
  Key Market Drivers

  • Increasing prevalence of cancer
  • rising healthcare expenditures
  • developing diagnostic technologies


  • Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :

    The valuation of Carcinoembryonic Antigen Market was USD 2,934.5 Million in 2030.

    The predicted CAGR of Carcinoembryonic Antigen Market would be 15.2% for the forecast period of 2022 to 2030.

    The segments of Carcinoembryonic Antigen Market are colorectal cancer, pancreatic cancer, breast cancer, lung cancer, and others.

    The segments of Carcinoembryonic Antigen Market are colorectal cancer, pancreatic cancer, breast cancer, lung cancer, and others.

    The end users segments are hospitals and clinics, diagnostic centers, and others.