Carcinoembryonic Antigen (CEA) Testing Market

Publisher: AnalystView Market Insights
Publication Date: June, 2020
Healthcare / Medical Equipment
Pages: 206
Delivery Format: PDF

By Application (Ovarian Cancer, Colorectal Cancer, Pancreatic Cancer, Breast Cancer, Lung Cancer, Prostate Cancer, and Thyroid Cancer), By Gender (Male and Female), By End User (Diagnostic Centre, Cancer Centre, Hospitals, and Research Laboratories) and By Geography (EU, NA, APAC, LATAM, and MEA) Ð Analysis, Size, Share, Trends, & Forecast from 2020-2026

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REPORT HIGHLIGHT
Carcinoembryonic antigen (CEA) testing market was valued at USD 2.36 billion by 2019, growing with 6.4% CAGR during the forecast period, 2020-2026.

Carcinoembryonic antigen or CEA is a group of glycoprotein present in the body fluids of the embryo, fetus, and gastrointestinal tract. CEA is normally found in the embryonic entodermal epithelium. CEA is also present in the mucosal cells of the gastrointestinal cells, colorectum, and small amounts in the blood. The gastrointestinal tissue produces carcinoembryonic antigen during the development of fetal. The CEA test is especially used for cancers of the large intestine and the rectum. It is one of the most commonly used tumor markers worldwide.

Market Dynamics

The increasing prevalence of cancer, rising per capita healthcare expenditure, and growing demand for minimally invasive diagnostic procedures are the major factors boosting the growth of the global carcinoembryonic antigen market. In addition, the rapidly rising geriatric population who are prone to chronic medical conditions such as cancer is likely to fuel market growth. According to the World Health Organization (WHO), around 43.8 million of the total world population was suffering from cancer in 2018. Furthermore, the constant development and introduction of novel immunological techniques, such as radioimmunoassay are predicted to create lucrative growth opportunities in the overall market during the forecast period. However, the side-effects and risk of infections associated with CEA testing are expected to hamper the market growth in the coming future.

Testing Types Takeaway

ÒEnzyme-Linked Immunoassay accounted for the highest revenue shareÓ

CEA level in the human blood can be measure through various testing such as Electro-chemiluminescence immunoassay (ECLIA), enzyme-linked immunoassay (EIA), radio-immunoassay (RIA), and others. Though all the above-mentioned testing methods are used to quantify the CEA level, their sensitivity may vary. Among these, the EIA method is considered to be the most preferable clinical practice. This is because of the use of radioisotopes and thus, it offers effective and accurate diagnostic power.

Application Takeaway

ÒColorectal segment to hold the largest market share during the forecast periodÓ

Based on the application, the global carcinoembryonic antigen market is categorized into ovarian cancer, colorectal cancer, pancreatic cancer, breast cancer, lung cancer, prostate cancer, and thyroid cancer. Among these, the colorectal cancer segment subjugated the global market in 2019 and is estimated to hold the largest market share in terms of revenue during the forecast period. This is majorly owing to a surge in demand for minimally invasive diagnostic procedures, a growing prevalence of unhealthy lifestyles, and a rising geriatric population. In addition, unhealthy dietary habits and increasing consumption of alcohol are other factors contributing to the segmental market growth. On the other hand, the breast cancer segment is estimated to grow at the fastest rate during the period of forecast owing to the growing demand for cosmetic surgeries & hormone replacement therapy (HRT) and a rise in the number of female populations all over the world.

Gender Takeaway

ÒMale segment to account for the majority of market share by 2026Ó

On the basis of gender, the overall CEA market is bifurcated into male and female. Of these, the male segment accounted for the largest market share in 2019 owing to more prevalence of cancer in men as compared to women. According to the NIHÕs National Institute of Cancer, cancer prevalence is higher among men with 196.8 per 100,000 men. However, in women, it is 139.6 per 100,000 women. In addition, certain risk factors, such as drinking and smoking affect more to men than women. On the other hand, the female segment is anticipated to grow at a significant rate by the end of 2026 owing to the growing occurrences of breast cancer.

End-User Takeaway

ÒHospitals segment to be most lucrative in the forecast periodÓ

Based on end-user, the worldwide CEA market is categorized into hospitals, diagnostic, and cancer centers. and research laboratories. Among these, the hospital segment accounted for the majority of share in the market in 2019 and is expected to lead the worldwide market by 2026. This is primarily owing to the growing incidence of cancer all over the world. Besides, CEA tests in hospitals have various benefits such as staying connected to the healthcare system through IoT (Internet of Things), and improved diagnosis accuracy along with sophisticated healthcare infrastructure.

Regional Takeaway

ÒNorth America region to dominate the global industry until 2026Ó

Depending on the region, the global industry is divided into North America, Europe, Middle East & Africa, Asia Pacific, and Latin America. The North American market for CEA played a dominant role in 2019 and is expected to continue its dominance throughout the forecast. This is mainly attributed to the presence of well-established healthcare infrastructure, high occurrence rates of cancer, and higher expenditure levels.

Along with North America, the Asia Pacific region is expected to grow at a rapid pace in the global market during the period of forecast owing to constantly improving infrastructure for healthcare. Moreover, the economic development, presence of untapped opportunities, and increasing patient awareness levels are other factors expected to contribute to the regional market growth in the coming future. Also, this region has the highest mortality rate due to the high prevalence of cancer.

COVID-19 Impact

Adapting to the recent novel coronavirus crisis, the COVID-19 has progressively impacted the global carcinoembryonic antigen market. The thorough analysis of the COVID-19 pandemic on the overall market is included in the research report. The influence of the novel COVID-19 pandemic on the growth of the CEA market is analyzed and depicted in the research report.

Key Vendor Takeaway

The leading players operating in the global CEA market include Correlogic Systems, Inc., GenWay Biotech Inc., Omega Diagnostics Group, Creative Diagnostics, Boster Biological Technology, Quest Diagnostics, Abbott Laboratories, Lee Biosolutions, RayBiotech, Amgen, and Roche Diagnostics. Among these, Abbott was emerged as the leading players, accounted for the significant market share in 2019. The companyÕs global presence coupled with a wide product portfolio has helped Abbott to capture a large customer base.

In addition, key players are actively involved in investing in R&D activities to develop new products. In October 2019, a biotechnology company, SurgiMab, announced that the first patient in the U.S. has been recruited for its on-going pivotal Phase 3 clinical trial for colorectal cancer surgery with the carcinoembryonic antigen test. This trail evaluates its investigational imaging agent namely, ÔSGM-101Õ in cancer patients undergoing surgery.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year Ð 2015 to2018
Base Year Ð 2019
Estimated Year Ð 2020
Projected Year Ð 2026
TARGET AUDIENCE

Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

CARCINOEMBRYONIC ANTIGEN (CEA) MARKET KEY PLAYERS

Correlogic Systems, Inc.
GenWay Biotech Inc.
Omega Diagnostics Group
Creative Diagnostics
Boster Biological Technology
Quest Diagnostics
Abbott Laboratories
Lee Biosolutions
RayBiotech
Amgen
Roche Diagnostics
CARCINOEMBRYONIC ANTIGEN (CEA) TESTING MARKET, BY TESTING TYPE

Enzyme-Linked Immunoassay (EIA)
Radio-Immunoassay (RIA)
Electro-Chemiluminescence Immunoassay (ECLIA)
Others
CARCINOEMBRYONIC ANTIGEN (CEA) TESTING MARKET, BY APPLICATION

Ovarian Cancer
Colorectal Cancer
Pancreatic Cancer
Breast Cancer
Lung Cancer
Prostate Cancer
Thyroid Cancer
Others
CARCINOEMBRYONIC ANTIGEN (CEA) TESTING MARKET, BY GENDER

Male
Female
CARCINOEMBRYONIC ANTIGEN (CEA) TESTING MARKET, BY END USER

Diagnostic Centre
Cancer Centre
Hospitals
Research Laboratories
Others
CARCINOEMBRYONIC ANTIGEN (CEA) TESTING MARKET, BY REGION

North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA

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Carcinoembryonic Antigen (CEA) Testing Market

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