Newark, New Castle, USA, June 13, 2023 (GLOBE NEWSWIRE) -- The market analysis of the global carcinoembryonic antigen market was conducted by Growth Plus Reports in 2022 and was valued at US$ 2.66 billion. The market is expected to hit a revenue CAGR of 7.1% to reach US$ 5.15 billion by 2031.
Analysis of the global market for carcinoembryonic antigen indicates that the revenue share is likely to increase significantly. The glycoprotein known as carcinoembryonic antigen (CEA) is found in the tissues and physiological fluids of healthy persons in incredibly minute concentrations.
Key Takeaways:
- The cancer prevalence worldwide is driving the market revenue share.
- The introduction of precise and trustworthy diagnostic tools is driving the market demand.
- The carcinoembryonic antigen industry trend is supported by government and business activities that increase awareness and make reimbursement procedures simple to access.
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Carcinoembryonic Antigen Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 2.66 billion |
| Revenue Forecast in 2031 | US$ 5.15 billion |
| CAGR | 7.1% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Test, Type, End User, And Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Carcinoembryonic Antigen Market:
- In May 2022, In order to specifically localize carcinoembryonic antigen (CEA) in formalin-fixed, paraffin-embedded (FFPE) tissue sections, BioGenex introduced anti-carcinoembryonic antigen (CEA) polyclonal antibody.
Competitive Landscape
A list of the companies operating in the global market for carcinoembryonic antigens includes:
- GenWay Biotech Inc.
- Correlogic Systems, Inc.
- Creative Diagnostics
- F. Hoffmann-La Roche Ltd
- Siemens Healthcare GmbH
Market Drivers and Restraints:
The global carcinoembryonic antigen market revenue is driven by cancer prevalence, diagnostic tool advancements, awareness among the population, and increasing research and developmental activities.
However, due to the lack of specificity and several false positive results, the carcinoembryonic antigen market revenue growth is likely to be restrained.
Market Segmentation:
Segmentation By Test
Based on the test, the molecular tests segment dominates the global carcinoembryonic antigen market with the largest revenue share. This large revenue share is attributed to Molecular assays, such as polymerase chain reaction and next-generation sequencing, which have seen tremendous growth in the carcinoembryonic antigen industry because of their high sensitivity and specificity for cancer screening and surveillance.
Segmentation By Type
Based on the type, the colorectal cancer syndrome segment dominates the global carcinoembryonic antigen market with the largest revenue share. The significant rise in revenue share is attributed to it being the most prevalent type of cancer globally, and A known biomarker for the identification and monitoring of colorectal cancer is a carcinoembryonic antigen.
Segmentation By End User
Based on end-user, the ophthalmic clinic's segment accounts for the highest share of revenue in the global carcinoembryonic antigen market. Since hospitals are the principal settings with well-equipped infrastructure and skilled staff for cancer detection and treatment, they have made a sizable financial contribution to the carcinoembryonic antigen industry.
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Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global carcinoembryonic antigen market. The area boasts a robust healthcare system and simple access to innovative tools for detecting and treating cancer. The rising incidence of cancer in North America, notably in the United States, has been a major factor in the need for carcinoembryonic antigen testing.
Report Coverage
Growth Plus Reports carried out extensive market research on the carcinoembryonic antigen market globally. We examined the fundamental market characteristics, significant investment opportunities, regional growth patterns, ten-year revenue estimates, competing market players, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL CARCINOEMBRYONIC ANTIGEN MARKET - ANALYSIS & FORECAST, BY TEST
- Molecular Tests
- Serology Tests
- GLOBAL CARCINOEMBRYONIC ANTIGEN MARKET - ANALYSIS & FORECAST, BY TYPE
- Colorectal Cancer
- Pancreatic Cancer
- Ovarian Cancer
- Breast Cancer
- Thyroid Cancer
- Others
- GLOBAL CARCINOEMBRYONIC ANTIGEN MARKET - ANALYSIS & FORECAST, BY END USER
- Hospitals
- Diagnostic Laboratories
- Others
CARCINOEMBRYONIC ANTIGEN MARKET TOC
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