Carcinoembryonic Antigen (CEA) Market Is Projected To Be Around $2.51 Billion By 2022
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A research study titled, “Carcinoembryonic Antigen (CEA) Market by Application - Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the Carcinoembryonic Antigen (CEA) Market Is Projected To Be Around $2.51 Billion By 2022.
The Carcinoembryonic Antigen (CEA) Market was worth USD 1.36 billion in the year of 2012 and is expected to reach approximately USD 2.51 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 5.64% during the forecast period. The carcinoembryonic antigen (CEA) test measures the measure of this protein that may show up in the blood of a few people who have certain sorts of cancers, particularly cancer of the large intestine (colon and rectal cancer). It might likewise be available in individuals with cancer of the lung, ovary, pancreas, or breast. Carcinoembryonic Antigen is typically delivered amid the development of a fetus. The generation of CEA stops before birth and it more often than not will be absent in the blood of healthy grown-ups. Carcinoembryonic Antigen is mainly performed to discover how far reaching cancer is for a few sorts of the ailment, particularly colon disease. CEA levels might be measured both previously, then after the fact surgery to assess both the achievement of the surgery and the individual's odds of recuperation. It is also done to check the accomplishment of treatment for colon cancer and confirm whether cancer has returned after treatment. CEA levels might be measured amid treatment with meds to decimate growth cells (chemotherapy). This gives data about how well the treatment is functioning.
The Global carcinoembryonic antigen market is foreseen to witness significant development over the estimate time on account of factors like rising incidences of cancer and the advancement of novel biomarkers. The world Age-Standardized (AS) rate shows that there are approximately 205 new incidences of cancer for every 100,000 men around the globe and 165 for every 100,000 women. Additionally, the existence of ideal government efforts relating to the awareness of cancer and control by associations, for example, the National Cancer Institute, and the Cancer Prevention and Control Research Network (CPCRN) is anticipated to positively fortify market growth. Development of novel biomarkers which can be used as a part of mix with various biomarkers is probably going to play an imperative part in boosting the business sector growth over the estimate time frame. Rapidly expanding elderly population base prone to chronic therapeutic conditions including cancer is foreseen to extend the consumer base.
On the basis of Application the global Carcinoembryonic Antigen Market is segmented into CEA Based Colorectal Cancer, CEA Based Pancreatic Cancer, CEA Based Thyroid Cancer, CEA Based Breast Cancer and CEA Based Ovarian Cancer. The major players in the market are Roche Holding AG, Abbott Diagnostics and Quest Diagnostics. Geographically, the market is segmented into North America, Europe, Asia Pacific and Rest of the world.
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Key findings of the Carcinoembryonic Antigen Market
- Colorectal cancer was one of the biggest profit producing application section of the carcinoembryonic antigen market and in 2014. Expanding pervasiveness of colorectal disease and use of carcinoembryonic antigen tests at different stages is one of the basic variables representing its substantial share. For example, in 2012, new instances of colorectal cancer were assessed to be more than 93,000 and passing because of colorectal cancer is required to be more than 49,700 in the United States alone.
- Carcinoembryonic antigen based breast cancer determination is distinguished as the most lucrative application fragment of the market. The market is driven by components, for example, developing number of female populace over 50 years, developing interest for cosmetic surgeries and Hormone Replacement Therapy (HRT). Besides, developing levels of awareness in patients and the existence of supportive government activities are relied upon to enhance treatment rates over the estimate time frame.
- In 2014 North America was the biggest regional market attributable to the existence of high frequency rates, good repayment structure, and high customer awareness levels combined with generally higher human services consumption levels.
- Asia Pacific is foreseen to witness significant development over the figure time frame. The existence of undiscovered opportunities, continuously enhancing human services systems, monetary advancement, and enhancing awareness levels of patient are a few elements representing this fast development.