Press release
Global Carcinoembryonic Antigen Market to hit $2.7bn by 2023
Global Market Insights, Inc.
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.
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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.
Browse key industry insights spread across 72 pages with 33 market data tables & 7 figures & charts from this 2017 report Carcinoembryonic Antigen (CEA) Market in detail along with the table of contents at:
https://www.gminsights.com/industry-analysis/carcinoembryonic-antigen-cea-market-report
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.
Industry participants in the CEA market include Abbott Diagnostics, Roche Diagnostics, Quest Diagnostics and GenWay Biotech.
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Browse Related Reports:
In-Vitro Colorectal Cancer Screening Tests Market Size By Test Type (Fecal Occult Blood Tests [Guaiac FOB Stool, Immuno-FOB Agglutination, Lateral Flow Immuno-FOB, Immuno-FOB ELISA], Biomarker Tests [Tumor M2-PK Stool, Transferrin Assays], CRC DNA Screening Tests [Methylated Gene Testing, Panel DNA Tests]), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
https://www.gminsights.com/industry-analysis/in-vitro-colorectal-cancer-screening-tests-market-report
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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