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Carcinoembryonic Antigen Market Overview
Carcinoembryonic Antigen Market size is estimated to reach $3.24 billion by 2027, growing at a CAGR of 6.42% during the forecast period 2022-2027. Carcinoembryonic antigen (CEA) characterizes a set of greatly connected glycoproteins included in cell adhesion. Colorectal carcinoma is one of the most typical cancers and one of the principal causes of cancer-related death in the U.S. Carcinoembryonic antigen (CEA) was first segregated from human colorectal cancer (CRC) tissue in 1965 by Gold and Freedman. It is a foetal glycoprotein and is not normally generated in a considerable amount after birth. CEA can be raised up in a lot of pathologies. The most typical clinical application is surveillance for recurrence of CRC. CEACAM6 CEA cell adhesion molecule 6 is a gene that encrypts a protein that is affiliated with the carcinoembryonic antigen (CEA) family whose members are glycosyl phosphatidyl inositol (GPI) anchored cell surface glycoproteins. Members of this family perform a role in cell adhesion and are extensively utilized as tumor markers in serum immunoassay determinations of carcinoma.
The great demand for minimally invasive diagnostic techniques for the treatment of cancer like colorectal carcinoma and the surging per capita healthcare spending is set to drive the Carcinoembryonic Antigen Market. The consistent development of novel immunological procedures like radioimmunoassay is set to propel the growth of the Carcinoembryonic Antigen Market during the forecast period 2022-2027. This represents the Carcinoembryonic Antigen Industry Outlook.
Carcinoembryonic Antigen Market Segment Analysis – By Application:
The Carcinoembryonic Antigen Market based on the application can be further segmented into Colorectal Cancer, Pancreatic Cancer, Ovarian Cancer, Breast Cancer, Thyroid Cancer, and Others. The Colorectal Cancer Segment held the largest market share in 2021. This growth is owing to the increasing demand for minimally invasive diagnostic techniques and the increasing population of the elderly. Colorectal cancer or colorectal carcinoma is cancer of the colon and/or rectum. The expanding predominance of unhealthy lifestyles is further propelling the growth of the colorectal cancer segment.
Furthermore, the Thyroid Cancer segment is estimated to grow with the fastest CAGR of 7.2% during the forecast period 2022-2027 owing to the heightening application of carcinoembryonic antigen as a marker for medullary thyroid cancer apart from supervising the treatment of patients diagnosed with colorectal carcinoma.
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Carcinoembryonic Antigen Market Segment Analysis – By End-User:
The Carcinoembryonic Antigen Market based on end-user can be further segmented into Hospitals, Diagnostic Centers, Cancer Centers, and Research, Academic Institutes. The Hospitals segment held the largest market share in 2021. This growth is owing to the proliferating preference of patients diagnosed with different kinds of cancers like colorectal carcinoma for hospitals, particularly multispecialty hospitals with state of the art medical equipment for the performance of tests like carcinoembryonic antigen (CEA) test. The recommendation of physicians for specialized hospitals is further propelling the growth of this segment.
Furthermore, the Cancer Centers segment is estimated to grow with the fastest CAGR of 7.3% during the forecast period 2022-2027 owing to the expanding predominance of different kinds of cancers like colorectal carcinoma which may be precisely detected at cancer centers, thereby driving the growth of this segment.
Carcinoembryonic Antigen Market Segment Analysis – By Geography:
The Carcinoembryonic Antigen Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Carcinoembryonic Antigen Market) held the largest share with 35% of the overall market in 2021. The growth of this region is owing to the soaring predominance of cancers like colorectal carcinoma and the existence of sophisticated healthcare infrastructure in the region. The surging levels of awareness and the soaring concentration of key players like Abbott Laboratories are further propelling the growth of the Carcinoembryonic Antigen Market in the North American region.
Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the large population of patients enduring cancers like colorectal carcinoma. The surging count of supportive government initiatives to control cancer is further fuelling the progress of the Carcinoembryonic Antigen Market in the Asia-Pacific region.
Carcinoembryonic Antigen Market Drivers
Increasing Application Of Carcinoembryonic Antigen Test (CEA) Is Projected To Drive The Growth Of Carcinoembryonic Antigen Market:
Carcinoembryonic antigen (C.E.A.) assessment has been utilized in the preoperative evaluation of colorectal carcinoma patients and has been demonstrated to provide a useful guide to the existence of metastatic disease and eventually to a poor prognosis if the serum concentration is 100 ng/ml or more. A carcinoembryonic antigen (CEA) test is a blood test utilized to assist in the diagnosis and handling of some kinds of cancers. The CEA test is utilized specifically for cancers of the large intestine and rectum. The physician may also utilize the test outcomes to assist in deciding if a cancer treatment is working. A CEA test is most convenient consequent to a diagnosis of a kind of cancer that is recognized to generate CEA. Raised levels of CEA can be found in cancers like colorectal or colon cancer and medullary thyroid carcinoma. The extensive application of the CEA test.is therefore fuelling the growth of the Carcinoembryonic Antigen Market during the forecast period 2022-2027.
Technological Innovations Are Expected To Boost The Demand Of Carcinoembryonic Antigen:
The carcinoembryonic antigen (CEA)-related cell adhesion molecules CEACAM1 (BGP, CD66a), CEACAM5 (CEA, CD66e), and CEACAM6 (NCA, CD66c) are asserted in the human lung. Consistent progress in technology like proteomics that is inclusive of mass spectrometry, protein bioinformatics, protein labeling, imaging, and array-based techniques with the establishment of novel biomarkers that may be utilized in integration with added biomarkers is estimated to propel the demand for the carcinoembryonic antigen market. Targeting analysis of biological particles with big aspect ratios, like viruses or fibrils, CEA scientists have shown a quantum-leap in single-particle mass spectrometry (MS) that could expedite the discovery of viral particles in hospitals, offices, airplanes, and other public locations. These kinds of technological advancements are driving the growth of the Carcinoembryonic Antigen Market during the forecast period 2022-2027.
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Carcinoembryonic Antigen Market Challenges
Ineffective Technique For Early Stage Detection Of Cancer, Inadequate Awareness And Risks Are Hampering The Growth Of The Carcinoembryonic Antigen Market:
The Carcinoembryonic Antigen (CEA) technique is ineffective in detecting the early stage of cancer. CEA test is insensitive for initial detection of recurrence of colorectal carcinoma, as it is for initial detection of primary carcinoma. The insufficient awareness about carcinoembryonic antigen (CEA) test is further hampering the growth of the Carcinoembryonic Antigen Market. As the CEA test is a blood test, there are a few risks involved like the performance of the test may result in bruising, bleeding, the formation of a hematoma, or an infection at the site of the invasion. These issues are hampering the growth of the Carcinoembryonic Antigen Market.
Carcinoembryonic Antigen Market – Landscape:
Novel and technologically advanced product launches, investments, partnerships, mergers and acquisitions, expansion plans, and R&D are key strategies adopted by players in the market. Carcinoembryonic Antigen top 10 companies include:
Quest Diagnostics
Abbott Diagnostics
F. Hoffmann-La Roche Ltd
GenWay Biotech Inc.
Creative Diagnostics
Correlogic Systems, Inc.
Boster Biological Technology
Omega Diagnostics Group PLC
RayBiotech, Inc.
Thermo Fisher Scientific
Acquisitions/Product Launches:
In November 2021, Thermo Fisher Scientific Inc. is allowing scientists to propel groundbreaking discoveries with the launch of novel-generation mass spectrometry tools, workflows, and software. The firm will display novel inclusions to its industry-leading offering at the time of the 69th American Society for Mass Spectrometry (ASMS) Conference on Mass Spectrometry and Allied Topics, being held October 31-November 4, in the Pennsylvania Convention Center, Philadelphia, Pennsylvania. Progressive mass spectrometry, software, and analytical workflow solutions were to be exhibited.
In May 2021, Thermo Fisher Scientific has introduced the Thermo Scientific Nexsa G2 surface analysis system – a completely automated X-ray photoelectron spectrometer (XPS) planned to boost productivity and innovation for academic and industrial labs. The Nexsa G2 conveys vital software and hardware enhancements that permit researchers to disclose exhaustive surface chemistry insights. It also provides the possibility for product developments by way of better sample throughput and correlative analysis in comparison with the former Nexsa model.
In April 2020, it has been declared that people can buy COVID-19 antibody testing for themselves online, without visiting the office of a physician, through QuestDirect, the consumer-initiated testing business of Quest Diagnostics. The COVID-19 Immune Response test is accessible at GetQuestTest.com. The novel service augments access to COVID-19 antibody testing in the U.S.
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Key Takeaways
Geographically, North America Carcinoembryonic Antigen Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing predominance of cancer like colorectal carcinoma and consistently enhanced healthcare infrastructure in the North American region.
Carcinoembryonic Antigen Market growth is being driven by the rising prevalence of cancer, specifically colorectal cancer or colorectal carcinoma, and the existence of supportive government policies pertaining to cancer awareness and control by organizations like the National Cancer Institute. However, the low productivity of cancer detection techniques at the initial phase of treatment and minimized awareness regarding carcinoembryonic antigen are some of the major factors hampering the growth of the Carcinoembryonic Antigen Market.
Carcinoembryonic Antigen Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Carcinoembryonic Antigen Market report.
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