Carcinoembryonic Antigen Market Analysis

Global Carcinoembryonic Antigen Market Overview

Carcinoembryonic Antigen Market Size was valued at USD 1.1 Billion in 2022. The Carcinoembryonic Antigen market industry is projected to grow from USD 1.26 Billion in 2023 to USD 3.93 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.2% during the forecast period (2023 - 2032).Cancer is becoming more common, increasing healthcare costs and making diagnostic technologies the key market drivers contributing to market growth and expansion. 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Cancer is the second leading cause of death worldwide, and over 70% of cancer fatalities occur in non-urban settings. The rising rate of new cancer diagnoses each year is a key factor fueling the expansion of this market, as is the rising cost of healthcare per person. The use of tobacco products and excessive alcohol consumption is the single most important preventable cause of cancer and is responsible for about 22 percent of all cancer deaths. This has created a market demand for CEA testing.

Demand for carcinoembryonic antigen tests is predicted to rise over the projection period, in part due to the launch and ongoing development of innovative immunological techniques such the radioimmunoassay. Over the projection period, innovative biomarkers that may be utilized in combination with other biomarkers are expected to play a significant role in driving market expansion.

Market expansion is being spurred on by factors including the rising prevalence of chronic diseases among the elderly, advances in technology, and government programs aimed at raising cancer awareness, such as those launched by the non-profit Cancer Prevention and Control Research Network (CPCRN). When it comes to identifying recurrent diseases that may be treatable, CEA seems to be the most cost-effective test. Companies are merging and buying one other up because of how concentrated the market is. To remain competitive, manufacturers must constantly innovate and respond to consumer demands.

April 2023, researchers have identified new biomarkers that can predict patients' likelihood of relapse after surgery for colorectal cancer. The Shanghai Cancer Center recommends using only cheap and painless blood tests for checking biomarkers. The function of ctDNA in the onset, progression, and recurrence of colorectal cancer has been extensively studied. According to the study's findings, a ctDNA methylation test is 20 months ahead of an imaging test in detecting relapse and is more sensitive in predicting relapse risk than the commonly used carcinoembryonic antigen (CEA). The field of clinical us has tremendous potential.

Carcinoembryonic Antigen Market Trends

• The growing healthcare costs are driving the market growth

Rising healthcare costs are driving Market CAGR for carcinoembryonic antigen. Rising cancer prevalence and increased awareness are key CEA factors and trends fueling the market to expand. Rise in cancer patients due to mortality worldwide, accounting for around 70% of all fatalities. Every year, the number of patients with cancer reports increases, resulting in increased per capita healthcare spending and minimally diagnostic treatments, which pushes market expansion higher. Tobacco and alcohol consumption is the greatest risk factor for cancer, accounting for around 22% of cancer deaths. This leads to an increase in the number of CEA tests available in the cancer-related embryonic antigen field. Rise in the elderly population: older people are more susceptible to technological innovation and chronic illness conditions, and government cancer education campaigns by NGOs such as Tumor Control and Prevention Study Network are driving the market growth. CEA seems to be the least expensive test for detecting treatable recurrent illness.

Additionally, there is a high risk of infection while doing various examinations, which can develop into cancer if the individual in question is a senior adult with a weakened immune system. This has the potential to be a significant market opportunity. The rising prevalence of cancer is being attributed to reasons such as increased intake of alcohol, processed foods, and desk-bound lives, which presents an opportunity for the Carcinoembryonic Antigen Market. Continuous advancement and development of innovative immunological techniques will likely create new economic possibilities, expanding the market. Other potential includes the discovery of new biomarkers and an increase in per-capita healthcare spending. As a result, the market has a lot of room to develop.

Pharmaceutical and biotech businesses collaborate with governments worldwide to combat the COVID-19 epidemic, from vaccine research to planning for drug supply chain issues. Approximately 115 vaccine candidates, including 155 compounds, are now in the R&D pipeline. Furthermore, routinely used medications which include hydroxychloroquine, have experienced a huge increase in demand for COVID-19 control. As many affluent nations face a scarcity of these medications, the increased demand for COVID-19 management therapies has created enormous business potential. The demand for vaccines and treatment medications in the biotechnology and pharmaceutical sectors is predicted to increase significantly. This, in turn, is predicted to have a substantial influence.

For instance, according to WHO estimates, the cancer incidence (cases per year) in 2012 was roughly 14.1 million, with 7.4M males and 6.7M female patients. According to the Age-Standardized (AS) incidence rate, there are almost 205 instances of new cancer for every 100,000 men and 165 for every 100,000 women. Thus, demand for Carcinoembryonic Antigen is anticipated to increase throughout the projected timeframe due to the rising healthcare costs. Thus, driving the Carcinoembryonic Antigen market revenue.

Carcinoembryonic Antigen Market Segment Insights

Carcinoembryonic Antigen Application Insights

The Carcinoembryonic Antigen market segmentation, based on Application, includes Colorectal Cancer, Pancreatic Cancer, Breast Cancer, Lung Cancer, and Others. The colorectal cancer segment dominated the market, accounting for 35% of market revenue (USD 0.4 billion) in 2022. Because of the increased prevalence of colorectal cancer, in addition to using the CEA test at each stage of the illness, colorectal cancer is predicted to be one of the most lucrative revenue-generating segments.

Carcinoembryonic Antigen End-User Insights

The Carcinoembryonic Antigen market segmentation, based on End-Users, includes Hospitals and Clinics, Diagnostic Centers, and Others. The hospitals and clinics category Informatics category generated the highest market revenue of about 51% (USD 0.6 billion) in 2022. The rising prevalence of cancer worldwide accounts for the biggest proportion of hospitals, and tests carried out in hospitals have advantages, including being connected to medical facilities via IoT and enhanced diagnosis precision as all necessary information about patients boosts market growth.

Figure 1: Carcinoembryonic Antigen Market by End-User, 2022 & 2032 (USD Billion)

 Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

June 2023: A unique CAR T cell method utilizing logic-gating is now being trialed for the treatment of solid tumors at NYU Langone Health's Perlmutter Cancer Center, with results expected in June 2023. Phase 1/2 of the EVEREST-1 trial's first patient was enrolled at Perlmutter Cancer Center. A2B530 is an autologous logic-gated Tmod CAR T-cell product developed to address a significant challenge in the treatment of solid tumors: how to selectively target the tumor while avoiding normal tissue. Cancers of the pancreas, colon, and lungs share a similar tumor marker called carcinoembryonic antigen (CEA), which is the focus of A2B530. Conversely, CEA can be found in normal tissues as well.

April 2023: Clinical trials of the innovative Tri-Ad5 vaccination combination and the IL-15 superagonist N-803 for persons with the inherited disorder Lynch syndrome were announced

Carcinoembryonic Antigen Regional Insights

 By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Carcinoembryonic Antigen market area will dominate this market during the projected timeframe owing to the increased incidence and prevalence of various malignancies between older and middle-aged demographics are important market drivers which will boost the market growth in the North American region.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Carcinoembryonic Antigen Market Share by Region 2022 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’s Carcinoembryonic Antigen market accounts for the second-highest market share due to the Untapped prospects, continually improved healthcare facilities growth in the economy, and more patient awareness are some of the elements driving this rapid expansion. Further, the German Carcinoembryonic Antigen market holds the largest market share, and the UK Carcinoembryonic Antigen market is expected to grow and expand significantly in the European region during the projected timeframe.

The Asia-Pacific Carcinoembryonic Antigen Marketis expected to grow quickly during the projected timeframe. Growing cancer prevalence, an aging population, sufficient facilities for institutions and diagnostic centers, and greater aging population awareness of cancer treatment. Moreover, China’s Carcinoembryonic Antigen market dominates the market share, and the Indian Carcinoembryonic Antigen market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.

Carcinoembryonic Antigen Key Market Players & Competitive Insights

Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Carcinoembryonic Antigen market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Carcinoembryonic Antigen industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the Carcinoembryonic Antigen industry to benefit customers and capture untapped market share and revenue. The Carcinoembryonic Antigen industry has recently offered significant advantages to the medicine and pharmaceutical industry. Moreover, more industry participants are utilizing and adopting cutting-edge Technology has grown substantially. Major players in the Carcinoembryonic Antigen market, including Lee BioSolutions, F. Hoffmann-La Roche, Quest Diagnostics, Genway Biotech, RayBiotech, Merck KGaA, Abcam plc, Boster Biological Technology, Creative Diagnostics, and Laboratory Corporation of America Holdings and others are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.

Kitov Pharmaceuticals Ltd. is a pharmaceutical development company. The organization concentrates on developing and marketing pharmacological solutions for managing hypertension and osteoarthritis pain. Kitov Pharmaceuticals is based in Israel. Kitov Pharma created the first-in-class combination cancer medicines in April 2019

Redpath is a molecular diagnostics laboratory in Pittsburgh focusing on bringing unique solutions to doctors. Their unique PathFinderTG® technology generates mutational profiles to assist clinicians in resolving complicated diagnostic quandaries in cancer-risk patients. Redpath conducts all clinical research and testing in its cutting-edge, CLIA-certified, & CAP-accredited lab. Redpath Integrated Pathology introduced a novel, patent-pending customized test in 2019 to accurately assess CEA across all pancreas cyst fluids. Because the market is so robust, corporations are pursuing mergers and acquisitions. Manufacturers are under constant pressure to put new technologies into the market with greater sensitivity.

Key Companies in the Carcinoembryonic Antigen market include

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  Lee BioSolutions

  
  


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  F. Hoffmann-La Roche

  
  


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  Quest Diagnostics Incorporated

  
  


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  Genway Biotech

  
  


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  RayBiotech

  
  


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  Merck KGaA

  
  


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  Abcam plc

  
  


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  Boster Biological Technology

  
  


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  Creative Diagnostics

  
  


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  Laboratory Corporation of America Holdings

  
  

Carcinoembryonic Antigen Industry Developments

April 2019:Kitov Pharma created the first-in-class combination cancer medicines in April 2019.

2019:Redpath Integrated Pathology introduced a new, patent-pending customized test 2019 to assess CEA across all pancreas cyst fluids accurately. Because the market is so robust, corporations are pursuing mergers and acquisitions. Manufacturers are under constant pressure to put new technologies into the market with greater sensitivity.

Carcinoembryonic antigen, in conjunction with the mucin tumor markers CA19-9, and CA242, can be utilized in preoperative staging, assisting in planning the kind of surgery necessary and future therapy choices. The rapidly growing older population, predisposed to chronic medical diseases such as cancer, is expected to broaden the customer base. Technological breakthroughs in proteomics, including mass spectrometry, protein labeling, array-based techniques, images, and molecular bioinformatics, have enabled researchers to quickly uncover and comprehend new biomarkers.

Carcinoembryonic Antigen Market Segmentation

Carcinoembryonic Antigen Application Outlook

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  Colorectal Cancer

  
  


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  Pancreatic Cancer

  
  


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  Breast Cancer

  
  


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  Lung Cancer

  
  


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  Others

  
  

Carcinoembryonic Antigen End-User Outlook

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  Hospitals and Clinics

  
  


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  Diagnostic Centers

  
  


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  Others

  
  

Carcinoembryonic Antigen Regional Outlook

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  North America

  
  

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  US

  
  


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  Canada

  
  

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  Europe

  
  

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  Germany

  
  


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  France

  
  


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  UK

  
  


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  Italy

  
  


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  Spain

  
  


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  Rest of Europe

  
  

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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America