Carcinoembryonic Antigen (CEA) Market Size By Application (Colorectal, Pancreatic, Ovarian, Breast, Thyroid Cancer), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, Spain, Japan, China, India, Mexico, Brazil, South Africa), Application Potential, Competitive Market Share & Forecast, 2016 - 2023
Published Date: May 2016 | 72 Pages | Report ID: GMI427 Report Format: PDF
(CEA) Carcinoembryonic Antigen Market size was valued over USD 1.60 billion in 2015 at an estimated 6% CAGR from 2016 to 2023.
Germany Carcinoembryonic Antigen (CEA) Market size, by application, 2012-2023 (USD Million)
Increasing incidence rate for cancer disease especially colorectal cancer is one of the important factor contributing to the growth of the Carcinoembryonic antigen (CEA) market size. Carcinoembryonic antigen is the recurrent indicator in asymptomatic patients and presently it is the most cost-effective assessment for preclinical detection of illness. The test is beneficial for the primary detection of liver metastasis in patients with diagnosed colorectal cancer. However, stringent regulatory framework and ineffective approach for cancer detection at initial stage are restraining the carcinoembryonic antigen market growth.
According to WHO, it is estimated that cancer incidence rates in 2012 was approximately 14.1 million worldwide, of which 7.4 million were male and 6.7 million were female patients. Furthermore, due to the geriatric population, prevalence rate of cancer is projected to be approximately 205 new cancer cases for all 100,000 men, and 165 for all 100,000 females across the world.
Constant advancement in technology such as proteomics that includes mass spectrometry, protein bioinformatics, protein labelling, imaging and array based approaches with the development of new biomarkers which can be used in combination with other biomarkers is anticipated to fuel demand for carcinoembryonic antigen market growth during the forecast timeframe. Favourable government initiatives for the improvement of diagnostic rates and the advancement of new combination biomarkers has growth opportunities for carcinoembryonic antigen market size. Numerous tumour markers are being developed that can be used with carcinoembryonic antigen to detect colorectal cancer.
Carcinoembryonic Antigen (CEA) Market, By Application
Based on application the carcinoembryonic antigen market is segmented into ovarian cancer, colorectal cancer, thyroid cancer, pancreatic cancer, breast cancer and others. Colorectal cancer dominated the carcinoembryonic antigen market size in 2015, with over 40% revenue share, due to the huge patient pool is likely to develop cancerous tumour due to consumption of liquor, fatty foods and exposure to hazardous elements. Moreover, harmful lifestyle habits such as lack of physical workout and poor diet contributed for the growth of colorectal cancer.
Breast cancer is witnessing lucrative growth in the overall carcinoembryonic antigen market share, expected to reach over USD 460 million by 2023, at an estimated CAGR of 7%. The carcinoembryonic antigen market growth is attributed owing to the advancement of new biomarkers used in combination with carcinoembryonic antigen, rising female population with over 50 years of age and more number of patients undertaking Hormone Replacement Therapy (HRT) and silicon breast implants.
The industry is also observing growing incidence of Ovarian Cancer. As per the statistics by World Cancer Research Fund International (WCRFI), it is projected that ovarian cancer is the seventh most common cancer disease in females across the world and eighteenth most common tumour overall, with over 239,000 new cases detected in 2012.
Carcinoembryonic Antigen (CEA) Market, By Region
North America carcinoembryonic antigen market share led the global revenue in 2015 and is expected to continue dominating the industry due to increasing incidence for cancer, growing awareness levels to detect the cancer at primary stage and presence of enhanced health care services for cancer therapeutics. According to the American Cancer Society, it is estimated that 1,685,210 new cancer incidences will be detected and 595,690 cancer deaths will occur in the US in 2016.
Asia Pacific is anticipated to be the fastest growing region during the forecast timeline due to the presence of developing countries such as China and India are projected to offer substantial growth opportunities in the coming years. The growth in this region is mainly driven by growing prevalence of cancer, favourable government initiatives and presence of major players in these countries. Moreover, presence of less stringent regulatory guidelines, growing patient pool, rising healthcare expenses and improvement in the healthcare infrastructure are expected to further drive the growth of carcinoembryonic antigen market share.
According to WHO in 2012, China accounted for 3.07 million newly diagnosed cases. High disposable income and improvement in the treatment services for colorectal cancer due to favorable government initiatives contribute to the growth of the region.
Competitive Market Share
Companies operating in carcinoembryonic antigen market includes Abbott Diagnostics, Roche Diagnostics, Quest Diagnostics and GenWay Biotech. Companies operating in this industry are focussing on strategies such as mergers and acquisitions to maintain leadership position. Manufacturer face constant pressure to introduce new and technologically advanced products with more sensitivity in the market.
Carcinoembryonic Antigen (CEA) Industry Background
The carcinoembryonic antigen market size is driven globally by innovation and advancement in technology. Companies are investing enormously in R&D operations to offer differentiated solutions to gain market share. The American Society of Clinical Oncology (ASCO), endorsed the usage of carcinoembryonic antigen testing for staging/diagnosis, detection of recurrence, monitoring treatment and screening for hepatic metastases in patients with colon cancer. However, the test is not recommended in the initial stages of neoplastic disorder for screening because of low sensitivity and specificity.
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