The report titled “Carcinoembryonic Antigen (CEA) Market- Growth, Future Prospects, and Competitive Analysis, 2021 – 2029” offers strategic insights into the overall carcinoembryonic antigen market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on type of application, and different geographies. CEA is majorly used to measure and observe the protein content in the blood and CAE acts functionally as a tumor marker, especially applied in diagnosis of rectum and colon cancer. The normal level of CEA is expected to be 5 nanograms per milliliter (ng/mL) for adult smokers and less than 2.5ng/ml for adult non-smokers. In addition, a few diseases such as Crohn’s diseases, COPD, and cirrhosis may also result in high CEA levels. Tumor markers for colorectal cancer are used for initial screening of cancer, staging planning & treatment management, and post surgery also in order to understand the incidence rate of cancer. In 2020, colorectal cancer was observed as the largest application market segment due to key market driving factors such as rising demand for minimally invasive cancer diagnosis methods, high influence of sedentary lifestyle in adult population, and increasing public awareness associated with early cancer diagnosis. North America dominated the overall market in terms of revenue share and expected to continue its domination throughout the forecast period due to the rising cancer incidence rates, presence of highly accessible modern healthcare infrastructure, and high patient awareness levels coupled with relatively higher healthcare expenditure levels in the region.
For the purpose of this study, the global carcinoembryonic antigen (CEA) market is segmented on the basis of application type into ovarian cancer, colorectal cancer, pancreatic cancer, lung cancer, breast cancer, thyroid cancer and other cancers. Market size estimates and forecast for these segments for the period 2019 to 2029 are provided in terms of USD Mn along with the respective compounded annual growth rates (CAGRs) for the period 2021 to 2029, considering 2020 as the base year.
The geographical segmentation of carcinoembryonic antigen (CEA) market comprised regions such as North America, Europe, Asia-Pacific, Latin America & Middle East and Africa. Each geographical region is further split to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, Brazil, and GCC countries. Market size and forecast for these segments during 2019 to 2029 and their CAGRs for the period 2021 to 2029 are provided in this report.
The carcinoembryonic antigen (CEA) market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Quest Diagnostics, F. Hoffman LA Roche, Abbott Laboratories, GenWay Biotech Inc., Correlogic Systems, Inc., and Others.
In year 2020, colorectal cancer application segment of CEA accounted for the largest share of 41.9% due to the mounting demand for minimally invasive diagnostic procedures, increasing geriatric population base, and increasing sedentary lifestyle in younger population. In addition, high alcohol consumption and lack of physical exercises might also assist the growth of colorectal cancer throughout the forecast period 2021 to 2029. Breast cancer application is anticipated as the fastest growing segment and is expected to grow at a lucrative CAGR of 7.5% by 2029. The key factors that developing the risk of breast cancer are growing number of female population above 50 years, increasing demand for Hormone Replacement Therapy (HRT), and high demand for aesthetic surgeries. However, rising awareness related to breast cancer management among global women population is growing at significant rate which is expected to assist ultimately the growth of CEA market. The market shares of breast cancer application are expected to increase from 16.13% in 2020 to 16.78% in 2029.
In base year 2020, North America accounted for the largest share in terms of 44.9% due to key drivers such as peaking incidence rates of cancers, existence of sophisticated healthcare infrastructure, high patient awareness levels assisting higher healthcare expenditure levels. In addition, thorough initiatives conducted in the field of research and development organizations functioning in the market include Myraid Genetics, Abbott Laboratories, Qiagen, N.V. Roche Diagnostics, and Life Technologies Corporation providing high quality detection devices across the world. On other hand, Asia-Pacific CEA market is expected to grow at CAGR of 7.2% throughout the forecast period 2021 to 2029. The major factors assisting the exponential growth of this region are availability of untapped opportunities in cancer diagnosis, incessant improvement in healthcare infrastructure, economic development and rising patient awareness levels related to early diagnosis. According to a study published by Pfizer, Among the 15 Asian countries the highest incidence rates (age-standardized) for total cancer (all sites) in males are in Taiwan, Korea, and Japan; female total cancer incidence rates are highest in Taiwan, Singapore, and Philippines. Moreover, supportive government initiatives specific to the eradication, awareness and management of cancer are one of the vital success factors expected to boost the market over the forecast period.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Carcinoembryonic Antigen (CEA) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
