Carcinoembryonic Antigen (CEA) Industry Forecast
This global Carcinoembryonic Antigen (CEA) market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.
(CEA) Carcinoembryonic Antigen Market size is expected to exceed USD 2.7 billion by 2023; according to a new research report.
Continuous advancement in technology in the development of new biomarkers which is used in combination with other biomarkers is anticipated to accelerate carcinoembryonic antigen market demand over the forecast period. Moreover, the growing prevalence of cancer, presence of favorable government initiatives is expected to increase the need for effective diagnostic tools. The benefits associated with minimally invasive diagnostics practice include higher patient satisfaction as they need minor incision injuries. Furthermore, these procedures comprise less hospital stay and hence, are economically feasible and involve fewer post procedure difficulties.
According to WHO, the diagnosed number of new cancer cases is expected to grow by 70% over two decades. The development of new immunological procedure such as radioimmunoassay is expected to increase the demand for the CEA market over the forecast timeframe.
Colorectal cancer application segment generated major revenue share of over 40% in the carcinoembryonic antigen market, and is estimated to exceed USD 1 billion by 2023. The colorectal cancer occurrence rates are over 1 million globally, and steadily growing every year. According to National Institute for Health and Care Excellence (NICE), the specificity in detecting illness is nearly in the range of 30% and 80% through CEA test for the early diagnosis of colorectal cancer.
Breast cancer is rapidly growing application segment and it is anticipated to grow at a CAGR of 7.4% by 2023. Owing to the factors such as growing prevalence of breast cancer, favorable government initiatives such as breast screening programs, less stringent regulatory guidelines and increased patient pool. Latin America, led by Mexico and Brazil carcinoembryonic antigen market will witness significant share. Latin America accounted for over 5.01% of the global industry share in 2015. Changing lifestyle, excessive smoking and alcohol consumption are driving the industry growth in the region.
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North America led by U.S. carcinoembryonic antigen market accounted for over 75% revenue share in 2015, due to high patient awareness levels, high incidence rates of cancer and existence of sophisticated healthcare infrastructure in the region. Europe CEA market, was dominated by Germany with over USD 100 million revenue.
Asia Pacific carcinoembryonic antigen market share will witness significant gain growing at 7.5% CAGR. Owing to the supportive policies released by Chinese government. In 2013, The State Council allotted the Implementation Opinion on Financial Support for Small and Micro Enterprises Development (IOFSSM), that set development goals for small business in China.
Breast cancer is forecast to exceed USD 466 million by 2023. Due to the rising number of female population, growing need for Hormone Replacement Therapy (HRT) and cosmetic surgeries. Colorectal cancer is the second leading cause of cancer death among men and women in the U.S. According to the American Cancer Society in 2013, it is estimated that 142,820 Americans were diagnosed with colorectal cancer and 50,830 died with the disease.
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Selected points from Table of Contents of this report:
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Research scope & assumptions
1.2. Data Sources
1.2.1. Primary Sources
1.2.2. Secondary Sources
Chapter 2. Executive Summary
2.1. Carcinoembryonic antigen industry 360 degree synopsis, 2012 – 2023
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Regional trends
Chapter 3. Carcinoembryonic antigen Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2012 – 2023
3.3. Industry impact forces
3.3.1. Growth drivers
22.214.171.124. Growing elderly population base
126.96.36.199. Minimally invasive diagnostic procedure demand
188.8.131.52. Increasing cancer prevalence
184.108.40.206. Combination biomarker adoption surge
220.127.116.11. Healthcare expenditure trends
18.104.22.168. CEA usage in cancer
3.3.2. Industry pitfalls & challenges
22.214.171.124. Complex regulatory landscape
126.96.36.199. Ineffectiveness in detecting cancer at early stages
3.4. Growth potential benchmarking
3.5. Company market share analysis, 2015
3.5.1. Strategy dashboard
3.6. Porter’s analysis
3.7. PESTEL analysis
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