Carcinoembryonic Antigen Global Market Report 2024

The carcinoembryonic antigen market size has grown rapidly in recent years. It will grow from $1.07 billion in 2023 to $1.22 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth observed in the historic period can be attributed to several factors, including the global prevalence of cancer, an aging population, awareness campaigns about cancer, development in healthcare infrastructure, and favorable reimbursement policies.

The carcinoembryonic antigen market size is expected to see rapid growth in the next few years. It will grow to $2.02 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. In the forecast period, growth is expected to be driven by a focus on early detection and prevention of cancer, the expansion of cancer screening programs, increased patient demand for personalized medicine, and a growing need for minimally invasive diagnostic procedures. Major trends anticipated during this time include an increased adoption of personalized medicine, advancements in diagnostic platforms leveraging artificial intelligence and big data, collaborations and partnerships in the healthcare industry, and the impact of regulatory approvals and reimbursement policies.

The growth of the carcinoembryonic antigen market is expected to be driven by an increase in cancer incidence. Cancer, characterized by abnormal cell growth and spread, is on the rise due to various factors such as lifestyle choices, environmental pollution, genetic factors, and an aging population. Carcinoembryonic antigen (CEA) serves as a tumor marker in cancer management, aiding in monitoring disease progression and treatment efficacy. For instance, the World Health Organization (WHO) reported in February 2024 that the predicted number of new cancer cases in 2050 is around 35 million, marking a 77% increase from the estimated 20 million cases in 2022. This surge in cancer cases is a key driver for the carcinoembryonic antigen market's growth.

Leading companies in the carcinoembryonic antigen market are focusing on developing advanced tumor marker tests to streamline diagnostics and improve diagnostic offerings. These tests detect specific substances in the body that may indicate the presence of cancer. For example, Boditech Med introduced the ichroma Tumor triple-M diagnostic kit in October 2021, approved by the Ministry of Food and Drug Safety in South Korea. This kit can measure three tumor markers - prostate-specific antigen (PSA), alpha-fetoprotein (AFP), and carcinoembryonic antigen (CEA) - simultaneously, aiding in early diagnosis of cancers such as prostate, liver, and colon cancer. The kit's ability to provide rapid results within 15 minutes using whole blood offers cost and time-saving benefits.

In December 2023, Danaher Corporation acquired Abcam Limited to enhance its capabilities and expand its market presence in life sciences and diagnostics. Abcam Limited, a producer and distributor of protein research tools including recombinant human carcinoembryonic antigen CEA protein, contributes to Danaher's offerings in the field.

Major companies operating in the carcinoembryonic antigen market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Merck KGaA, Siemens Healthineers, Laboratory Corporation of America Holdings, Quest Diagnostics, Agilient Technologies, Inc., Beckman Coulter Inc., bioMérieux SA, Quidel Corporation, Ortho Clinical Diagnostics, Abcam plc, RayBiotech Inc., Creative Diagnostics, Lee Biosolutions Inc., Hytest Ltd., Prospec-Tany Technogene Ltd, Boster Biological Technology, Metropolis Healthcare.

North America was the largest region in the carcinoembryonic antigen market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carcinoembryonic antigen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the carcinoembryonic antigen market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Carcinoembryonic antigen (CEA) is a glycoprotein primarily involved in cell adhesion, commonly found in embryonic tissues and various carcinomas. In clinical practice, CEA serves as a tumor marker crucial for diagnosing, monitoring, and managing cancer, especially colorectal cancer. It aids in evaluating the efficacy of cancer treatments and is used for post-treatment monitoring to detect signs of cancer recurrence.

The main types of carcinoembryonic antigen tests include molecular tests and serology tests. Molecular tests for CEA involve analyzing genetic material, such as DNA or RNA, to measure CEA levels. These tests can be applied across genders, including males and females, and are used in various cancer types such as gastrointestinal cancer, colorectal cancer, pancreatic cancer, breast cancer, lung cancer, thyroid cancer, ovarian cancer, among others. End-users of these tests include hospitals, diagnostic centers, cancer centers, and research institutes.

The carcinoembryonic antigen market research report is one of a series of new reports that provides carcinoembryonic antigen market statistics, including the carcinoembryonic antigen industry global market size, regional shares, competitors with the carcinoembryonic antigen market share, detailed carcinoembryonic antigen market segments, market trends, and opportunities, and any further data you may need to thrive in the carcinoembryonic antigen industry. These carcinoembryonic antigen market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The carcinoembryonic antigen market consists of sales of diagnostic kits or assays. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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