Global Carcinoembryonic Antigen
Market is expected to reach USD 2.56 Billion by 2022, according to a new study
by Grand View Research, Inc. 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.
In depth research report on Carcinoembryonic Antigen (CEA)
Market
Further key findings from the study suggest:
·
Colorectal cancer was one of
the largest revenue generating application segment of the carcinoembryonic
antigen market and was estimated at USD 639.65 million in 2014. 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 2014 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.
·
Key players operating in
carcinoembryonic antigen market include Abbott Diagnostics, Quest Diagnostics,
Roche Diagnostics, GenWay Biotech Inc. and Correlogic Systems, Inc.
For the purpose of this study,
Grand View Research has segmented the carcinoembryonic antigen market on the
basis of application, and region:
Carcinoembryonic Antigen Application Outlook (Revenue, USD
Million, 2012 - 2022)
·
Colorectal cancer
·
Pancreatic cancer
·
Ovarian cancer
·
Breast cancer
·
Thyroid cancer
·
Others
Carcinoembryonic Antigen Regional Outlook (Revenue, USD
Million, 2012 - 2022)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
Spain
·
Asia Pacific
o
China
o
Japan
o
India
·
MEA
·
South Africa
·
Latin America
o
Brazil
o
Mexico
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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