Carcinoembryonic Antigen Market Growth & Trends
The global carcinoembryonic antigen market size is expected to reach USD 2.95 billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030. Constant technological advancements pertaining to the development of novel biomarkers which can be used in combination with other biomarkers is expected to boost usage rates over the forecast period. Furthermore, the increasing prevalence of cancer is expected to heighten the demand for effective diagnostic tools. According to the WHO estimates in 2012, global cancer incidences were nearly 14.1 million, which include 6.7 million female patients and 7.4 million male patients. Increasing demand for minimally invasive diagnostics procedures is also expected to play a vital role in determining market growth. Key advantages associated with minimally invasive diagnostics procedures include elevated patient satisfaction levels as they entail minor incision wounds. In addition, these procedures involve relatively lesser hospital stays and therefore, are economically viable and involve fewer post procedure complications.
Carcinoembryonic Antigen Market Report Highlights
- Colorectal cancer was one of the largest revenue generating application segment of the carcinoembryonic antigen market and was estimated at USD 193.32 million in 2023. Increasing prevalence of colorectal cancer and usage of carcinoembryonic antigen tests at various stages is one of the critical factors accounting for its large share. For instance, in 2012, new cases of colorectal cancer were estimated to be over 93,000 and death due to colorectal cancer is expected to be over 49,700 in the U.S alone.
- Carcinoembryonic antigen based breast cancer diagnosis is identified as the most lucrative application segment of the market. The market is driven by factors such as growing number of female population above 50 years, growing demand for Hormone Replacement Therapy (HRT) and cosmetic surgeries. Moreover, growing patient awareness levels and the presence of favorable government initiatives are expected to improve treatment rates over the forecast period.
- North America was the largest regional market in 2023 owing to, the presence of high incidence rates, presence of favorable reimbursement framework, and high consumer awareness levels coupled with relatively higher healthcare expenditure levels.
- Asia Pacific is anticipated to witness the most lucrative growth over the forecast period. The presence of untapped opportunities, constantly improving healthcare infrastructure, economic development, and improving patient awareness levels are some factors accounting for this rapid growth.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Carcinoembryonic Antigen Market Variables, Trends, & Scope
Chapter 4. Carcinoembryonic Antigen Market: Type Estimates & Trend Analysis
Chapter 5. Carcinoembryonic Antigen Market: Gender Estimates & Trend Analysis
Chapter 6. Carcinoembryonic Antigen Market: Product Estimates & Trend Analysis
Chapter 7. Carcinoembryonic Antigen Market: Test Estimates & Trend Analysis
Chapter 8. Carcinoembryonic Antigen Market: End Use Estimates & Trend Analysis
Chapter 9. Carcinoembryonic Antigen Market: Regional Estimates & Trend Analysis
Chapter 10. Competitive Landscape
Companies Mentioned
- Quest Diagnostics Incorporated
- F. Hoffmann-La Roche Ltd
- Creative Diagnostics
- Aviva Systems Biology Corporation
- Abbott
- Laboratory Corporation of America Holdings
- Merck KGaA
- Omega Diagnostics Ltd
- Boster Biological Technology
- Lee BioSolutions
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 90 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 2.05 Billion |
| Forecasted Market Value ( USD | $ 2.95 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
