Carcinoembryonic Antigen Market
Number of pages: 100 | Report Format: PDF | Published date: May 05, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 2.66 billion |
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Revenue Forecast in 2031 |
US$ 5.15 billion |
|
CAGR |
7.1% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
|
Segments Covered |
Test, Type, End User, And Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global carcinoembryonic antigen market was valued at US$ 2.66 billion in 2022 and is expected to register a revenue CAGR of 7.1% to reach US$ 5.15 billion in 2031.
Carcinoembryonic Antigen Market Fundamentals
In healthy adults, extremely small amounts of the glycoprotein known as carcinoembryonic antigen (CEA) are present in their tissues and bodily fluids. It was first discovered as a tumor marker for colon cancer in the early 1960s and has since been exposed to be raised in several other cancer types, including lung, breast, pancreatic, ovarian, and gastric cancers. Although carcinoembryonic antigen is not a reliable diagnostic means for cancer, it can be used to track the development of the condition and the efficacy of treatment. Inflammation or infection are examples of non-cancerous diseases that might result in elevated carcinoembryonic antigen levels. A simple blood test can be used to evaluate carcinoembryonic antigen levels, which can then be used to monitor the effectiveness of therapy, identify cancer recurrence, and track the course of cancer treatment. As elevated levels can also be found in non-cancerous conditions like inflammatory bowel disease, liver disease, and smoking, the carcinoembryonic antigen is not a specific marker for cancer.
Assays for carcinoembryonic antigen detection have become more sensitive and specific due to recent technological advancements, such as chemiluminescent immunoassay (CLIA) and electrochemiluminescent immunoassay (ECLIA) techniques. These techniques may be applied in point-of-care testing, making them more available to patients in isolated or underserved locations. Also, using nanoparticles and CRISPR gene editing systems to detect carcinoembryonic antigen levels has opened a new path for cancer diagnosis with carcinoembryonic antigen detection. For instance, researchers at the University of Georgia recently developed a new carcinoembryonic antigen test that uses gold nanoparticles to detect carcinoembryonic antigen levels in blood samples. The test is designed to be more sensitive and accurate than existing carcinoembryonic antigen tests and can potentially improve the early detection of cancer.
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Carcinoembryonic Antigen Market Dynamics
The increasing incidence of cancer is one of the key drivers of the global carcinoembryonic antigen market. A greater demand for precise and trustworthy diagnostic tools to identify and track cancer is being considered as cancer rates continue to climb, significantly influencing the carcinoembryonic antigen market dynamics. Specifically for gastrointestinal and colorectal cancers, the carcinoembryonic antigen is one of the most commonly used biomarkers for cancer diagnosis and monitoring. Additionally, carcinoembryonic antigen testing can assist in customizing treatments for individual patients based on their particular carcinoembryonic antigen levels owing to the rising demand for personalized treatment.
Additionally, government and corporate initiatives support the carcinoembryonic antigen industry trend by raising awareness and making easily accessible reimbursement policies for carcinoembryonic antigen testing. The demand for carcinoembryonic antigen testing and related products is anticipated to rise as governments and healthcare organizations invest more money in cancer research and treatment. Developing novel and cutting-edge carcinoembryonic antigen detection techniques, such as electrochemiluminescence immunoassays (ECLIAs) and chemiluminescent immunoassays (CLIAs), is also being funded by industry players. Collaborative partnerships between industry players and research institutions also accelerate the development and commercialization of new carcinoembryonic antigen-based diagnostic tools and therapies.
Increased research and development activity significantly influences the carcinoembryonic antigen market growth. Research breakthroughs have produced more sensitive and focused CEA detection assays, which have increased the precision and dependability of carcinoembryonic antigen testing in clinical settings. Additionally, efforts are being made in research and development to broaden the applications of carcinoembryonic antigen testing to new fields, such as the detection and follow-up of cancers other than colorectal cancer. Combining carcinoembryonic antigens with additional tumor markers, such as CA19-9, has increased the precision of cancer diagnosis and surveillance. The stage and severity of cancer can also be determined using this method, which will assist patients in receiving better therapy and having better results. According to studies, carcinoembryonic antigen levels can predict a patient's likelihood of surviving cancer. For instance, several recent analyses of non-small cell lung cancer patients revealed that preoperative carcinoembryonic antigen levels were independently linked to decreased overall survival. Also, carcinoembryonic antigen has been investigated as a target for cancer immunotherapy, such as chimeric antigen receptor (CAR) T-cell therapy, a promising approach for cancer treatment, as it has shown remarkable efficacy in hematologic malignancies.
However, carcinoembryonic antigen lacks specificity for some cancer types, and this can result in false positive tests and treatments that are not necessary. Additionally, carcinoembryonic antigen testing can be costly in developing nations with scarce healthcare resources for which patients do not prefer the treatment. Additionally, several additional biomarkers can be used in place of carcinoembryonic antigens in detecting and monitoring various cancers, including CA 19-9 and CA 125. In addition, regulatory barriers, such as the requirement for large clinical trials and regulatory agency approval, can impede the development and commercialization of innovative CEA-based diagnostic tools and therapies.
Carcinoembryonic Antigen Market Ecosystem
This report provides the global carcinoembryonic antigen market analysis in terms of revenue, market growth, market dynamics, regional landscape, and overall competitive positioning of the major market players. The global carcinoembryonic antigen market overview is analyzed from the following perspectives: test, type, end user, and region.
Carcinoembryonic Antigen Market by Test
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Based on the tests, the global carcinoembryonic antigen market is segmented into molecular tests and serology tests.
Molecular tests accounted for the largest revenue share of the global carcinoembryonic antigen market in 2022. Considering their high sensitivity and specificity for cancer detection and surveillance, molecular tests such as polymerase chain reaction and next-generation sequencing have grown significantly in the carcinoembryonic antigen market. The minimum carcinoembryonic antigen can be detected by these tests in blood samples, making them particularly helpful for early cancer detection and illness progression monitoring. Additionally, molecular test analyses can offer more specific details on carcinoembryonic antigen expression and function, which is crucial for individualized cancer treatment and monitoring. These benefits led to molecular tests having the greatest revenue share to improve the carcinoembryonic antigen market outlook. Furthermore, efforts are being made to further enhance the sensitivity, specificity, and accessibility of molecular carcinoembryonic antigen tests through ongoing research and development, which will contribute a significant profit for carcinoembryonic antigen market share.
On the other hand, since long ago, serological tests such as enzyme-linked immunosorbent assays (ELISA) and radioimmunoassay (RIA) have been used extensively in driving the carcinoembryonic antigen industry trends and continue to be a crucial diagnostic aspect in terms of carcinoembryonic antigen market forecast. These tests are very helpful for large-scale screening programs since they are accessible, affordable, and have high throughput capabilities.
Carcinoembryonic Antigen Market by Type
Based on the types, the global carcinoembryonic antigen market is segmented into colorectal cancer, pancreatic cancer, ovarian cancer, breast cancer, thyroid cancer, and others.
Colorectal cancer accounted for the highest revenue share of the global carcinoembryonic antigen market in 2022. Carcinoembryonic antigen is a recognized biomarker for the detection and follow-up of colorectal cancer, one of the most prevalent cancers in the world. Blood carcinoembryonic antigen levels can be used to screen for colorectal cancer, track the condition's development, and evaluate how effectively a treatment is working. Additionally, efforts are being made to create new carcinoembryonic antigen-based diagnostic and therapeutic tools for colorectal cancer. These are expected to support ongoing carcinoembryonic antigen market growth in this niche. Additionally, growing public awareness of colorectal cancer screening programs and the rising prevalence of colorectal cancer in aging populations is anticipated to support the carcinoembryonic antigen market demand in the forecast period.
Carcinoembryonic Antigen Market by End User
Based on the end users, the global carcinoembryonic antigen market is segmented into hospitals, diagnostic laboratories, and others.
Hospitals accounted for the highest revenue share of the global carcinoembryonic antigen market in 2022. Hospitals are the primary healthcare facilities for cancer diagnosis and treatment, and consequently, they contributed significantly to the carcinoembryonic antigen market size in terms of revenue. Hospitals have built laboratory facilities for doing carcinoembryonic antigen testing, a common practice for cancer patients in hospital settings. Moreover, hospitals also have well-trained medical personnel capable of interpreting and taking appropriate action on the results of carcinoembryonic antigen tests, which is crucial for efficient cancer management.
Carcinoembryonic Antigen Market by Region
Based on the region, the global carcinoembryonic antigen market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global carcinoembryonic antigen market in 2022. The region has a strong healthcare infrastructure and easy access to cutting-edge technologies for diagnosing and treating cancer. The demand for carcinoembryonic antigen testing has mostly been driven by the increasing prevalence of cancer in North America, particularly in the United States. Additionally, the development of new diagnostic and therapeutic options has been fueled by North America's well-established research and development sector. The general community in North America is highly knowledgeable of cancer screening programs and the value of early cancer detection, which has helped to promote the widespread use of carcinoembryonic antigen tests in clinical settings.
According to the carcinoembryonic antigen industry analysis, the Asia Pacific region is considered the fastest-growing market with a rapid increase in revenue CAGR as the region has a large and rapidly growing population, contributing to an increase in the incidence of cancer. According to the study “Cancer Incidence and Mortality in Asian Countries: A Trend Analysis,” Asia had a cancer incidence rate of 169.1 per 100,000 people in 2020, which accounted for 49.3% of the global cancer incidence. Lung (13.8%), breast (10.8%), and colorectal (10.6%) malignancies were the most prevalent types of cancer.
Carcinoembryonic Antigen Market Competitive Landscape
Multiple companies across the globe are investing in raising awareness and reimbursement, which is expected to improve the carcinoembryonic antigen market outlook. Notable market participants account for the largest revenue share of the global carcinoembryonic antigen market include,
Carcinoembryonic Antigen Market Strategic Development
Carcinoembryonic antigen (CEA) is a glycoprotein biomarker produced by some cancerous tumors and is commonly used to diagnose and manage certain types of cancer.
Molecular tests accounted for the largest revenue share of the global carcinoembryonic antigen market.
Increased awareness for early cancer diagnosis and advancement in R&D are the major drivers for the carcinoembryonic antigen market.
Key companies operating the global carcinoembryonic antigen market are F. Hoffmann-La Roche Ltd., Siemens Healthcare GmbH, Quest Diagnostics, GenWay Biotech Inc., Correlogic Systems, Inc., and Creative Diagnostics.
The global carcinoembryonic antigen market is expected to grow at a revenue CAGR of 7.1% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain