AcuteMarketReports

Global Carcinoembryonic Antigen (CEA) Market: Global Industry Analysis, Industry Outlook and Strategies to 2023

Press Release   •   Feb 06, 2017 15:14 IST

The latest market report published by Credence Research, Inc. “Global Carcinoembryonic Antigen (CEA) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 - 2023,” the carcinoembryonic antigen (CEA) market was valued at USD 1,624.2 Mn in 2015, and is expected to reach USD 2,787.3 Mn by 2023, expanding at a CAGR of 6.4% from 2016 to 2023.

Market Insights

According to Quest Diagnostics, CEA is an oncofetal glycoprotein present in the gastrointestinal tract and body fluids of the embryo and fetus. This antigen is also present in certain adult gastrointestinal cells, including the mucosal cells of the colorectum, and small amounts are present inblood. Market experts suggest that key growth drivers assisting the growth of CEA marketcomprises high prevalence of cancer, mounting global geriatric population base, high demand for minimally invasive diagnostic procedures in cancer and increasing application of CEA for diagnosis at several stages of cancer. In addition, a few factors that assist the overall market growth are growing healthcare expenditure which is boosting the need forefficient diagnostic procedure for cancer and influencing the usage of combination biomarkers.

Browse the full report Carcinoembryonic Antigen (CEA) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2023 at http://www.credenceresearch.com/report/carcinoembryonic-antigen-cea-market

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. Inbase year2015, colorectal cancer dominated the overall market in terms of revenue. The key factors responsible forgrowth of CEA market areincrease innumber ofpopulation consuming alcohol, sedentary lifestyle, and high intake of saturated fats in all age groups. Moreover, rising preference for CEA test in cancer diagnosis and management is expected to assist its market growth in the near future.

Inbase year2015, North America was observed as the largest CEA market due to high public awareness related to early cancer diagnosis, rising preference for minimally invasive cancer diagnosis tests and sophisticated health care facilities for cancer management. Incessant technological developments followed by new discoveries of specific antigens and biomarkers are anticipated to boost the growth of CEA market testing. The key factors assisting the growth of CEA market comprises aging population, highly accessible technologically advanced healthcare facilities, successful governmental and non-governmental initiatives, and demand for precise diagnostic procedures.

Market Competition Assessment:

The carcinoembryonic antigen (CEA) market is observed as the most diversified and competitive market comprisinglarge 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.

Key Market Movements:

  • Rising prevalence of cancer is expected to drive the CEA tests market in the near future
  • Increasing demand for minimally invasive diagnosis methods for cancer
  • Growing healthcare expenditure in developing countries is assisting the growth of CEA tests
  • The regulatory framework for approval process has always been the most critical restraining factor in the cancer diagnosis
  • According to NICE, the specificity in detecting diseases is almost between 30-80% during CEA test for the diagnosis of early colorectal cancer. This test is much more useful in detecting prognosis other than early diagnostic phase, where the specificity is expected to be 65% of detecting diseases

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Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments,non legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.