Carcinoembryonic Antigen Market Assessment Covering Growth Factors and Upcoming Trends with Key Players - Abbott Diagnostics, Correlogic Systems Inc., GenWay Biotech Inc., Quest Diagnostics, Roche Diagnostics

A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Carcinoembryonic Antigen Market - Key Facts and Forecast Predictions Presented Until 2023” which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview.

Carcinoembryonic antigens are glycoproteins that play a major role in cell adhesion. Carcinoembryonic antigen is present at very low concentration in healthy adults. Normal carcinoembryonic antigen level in healthy adult is in range between 2.5-5.0 µg/L. Level up may increase due to benign disease or smoking. However, its concentration in serum rise very high in some types of cancer. Hence, carcinoembryonic antigen used as a marker and assist in monitoring the treatment of various malignant and non-malignant conditions. As, sensitivity and specificity are low the test is more useful for monitoring than diagnosis. Carcinoembryonic antigen detection test often carried out after the surgery to identify percent of carcinoembryonic antigen level. In humans, carcinoembryonic antigen family consist of overall 29 genes, in which 18 are normally expressed.   

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Global carcinoembryonic antigen market segmented based on application of carcinoembryonic antigen: malignant condition and non-malignant condition. Malignant condition further subdivided into colorectal carcinoma, gastric carcinoma, pancreatic carcinoma, lung carcinoma, breast carcinoma, ovarian cancer, thyroid cancer and others. Furthermore, non-malignant condition subdivided into chronic kidney disease, pancreatitis, inflammatory bowel disease, irritable bowel syndrome, and others. Colorectal carcinoma held largest share of the global carcinoembryonic antigen market due to increasing prevalence of colorectal cancer, and more sensitivity to identify antigen. For instance, according to World Health Organization (WHO) colorectal cancer recorded fourth most common cancer deaths in 2012 in overall cancer deaths. Additionally, Increasing alcohol consumption, sedentary lifestyle, and unhealthy diet attribute to the growth of colorectal cancer in near future. However, carcinoembryonic antigen application in breast cancer segment is most lucrative market due to huge incidence of breast cancer, and increasing awareness in women. Geographically, the global market segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa, and rest of the world. North America accounted largest share of the global carcinoembryonic antigen market due to increasing consumer awareness, favorable reimbursement policies, and growing incidence rate of cancer. For instance, according to American Cancer Society (ACS), approximately 589,430 patient in America expected to die due to cancer, which is about 1,620 patient per day in 2015.  However, Asia Pacific is likely to grow at fastest rate during forecast period from 2015-2023 due to continuously improving health care infrastructure and expenditure, and improving patient awareness level.

Increasing incidence of cancer expected to increase the demand of various diagnosis and monitoring tests. For instance, according to WHO, number of new cases diagnosed with cancer expected to grow by 70% over two decades. Additionally, growing demand for minimally invasive diagnostic test, presence of government initiatives pertaining to cancer awareness, and technological advancement in proteomics could further propel the market during forecast period. Continuous development of novel immunological technique such as radioimmunoassay anticipated to increase the demand for carcinoembryogenic antigen test during forecast period. However, low sensitivity and specificity of the test, and competition from other more sensitive biomarkers expected to restrain the market growth. Carcinoembryonic antigen test’s sensitivity is very low during early stage of disease.      

Some of the major players operating in global carcinoembryonic antigen market include Abbott Diagnostics, Correlogic Systems, Inc., GenWay Biotech Inc., Quest Diagnostics, and Roche Diagnostics. The market is highly consolidated, and hence companies are engaged in mergers and acquisitions. Manufacturer face continuous pressure to introduce new technology with more sensitivity in the market.   

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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market

Important changes in market dynamics

Market segmentation up to the second or third level

Historical, current, and projected size of the market from the standpoint of both value and volume

Reporting and evaluation of recent industry developments

Market shares and strategies of key players

Emerging niche segments and regional markets

An objective assessment of the trajectory of the market

Recommendations to companies for strengthening their foothold in the market

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