Global Carcinoembryonic Antigen Market is set to register profitable growth in the near future and surpass USD 2.8 billion by 2023. This growth is attributed to factors including consistent technology advancements, development of novel biomarkers and growing prevalence of cancer. Global Market Insights, Inc. announces the addition of a new research report on Carcinoembryonic Antigen (CEA) market to their offering.
The report gives you a basic overview of the CEA market with market definition, applications, segmentation, and value chain analysis. The report covers competitive landscape with the leading company profiles and recent events in the industry. Equipped with all vital information including current scenario, forecasts, and future predictions, it offers insights to foresee challenges and opportunities that will aid in making informed decisions.
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Growing demand for minimally invasive diagnostics procedures is projected to contribute a significant part in shaping market growth. Increasing geriatric population is another key factor to intensify the Carcinoembryonic Antigen market growth. The development of novel combination biomarkers and initiatives by the government concerning improved diagnostic rates are likely to open growth avenues for CEA market. The advent of various tumor markers, which can be used along with CEA to monitor or diagnose colorectal cancer is predicted to influence the market growth positively.
North America, hinged on the U.S. Carcinoembryonic Antigen market size, is predicted to lead the segment with estimations of USD 800 million in 2016. Growing awareness about detecting cancer at an early stage and improved health care services for cancer therapeutics are anticipated to propel growth. Asia-Pacific region driven by India and China is targeted to foresee growing prevalence of cancer owing to changes in lifestyle and aging population in the area. The growth is mainly attributed to improved treatment facilities and high disposable income. The Asia-Pacific market share can surpass USD 380 million in the near future.
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Colorectal cancer tops the application segment and is expected to foresee growth over the forecast period. Breast cancer segment is likely to be the most lucrative with estimations of over USD 460 million at over 7% CAGR during the projected time frame.
The key players in global carcinoembryonic antigen market include
- Quest Diagnostics
- Roche Diagnostics
- GenWay Biotech, Inc.
- Abbott Diagnostics
Focus on early detection methods and product innovation owing to rising demand for minimally invasive procedures is a key strategy adopted by the key participants in the market.