Global carcinoembryonicantigen market is expected to reach USD 2.56 Billion by 2022, according to a new study by Grand View Research, Inc. Constant technological advancements pertaining to the development of novel biomarkers which can be used in combination with other biomarkers is expected to boost usage rates over the forecast period. Furthermore, the increasing prevalence of cancer is expected to heighten the demand for effective diagnostic tools. According to the WHO estimates in 2012, global cancer incidences were nearly 14.1 million, which include 6.7 million female patients and 7.4 million male patients. Increasing demand for minimally invasive diagnostics procedures is also expected to play a vital role in determining market growth. Key advantages associated with minimally invasive diagnostics procedures include elevated patient satisfaction levels as they entail minor incision wounds. In addition, these procedures involve relatively lesser hospital stays and therefore, are economically viable and involve fewer post procedure complications.
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Further key findings from the study suggest:
·
Colorectal cancer was one of the largest
revenue generating application segment of the carcinoembryonic antigen market
and was estimated at USD 639.65 million in 2014. Increasing prevalence of
colorectal cancer and usage of carcinoembryonic antigen tests at various stages
is one of the critical factors accounting for its large share. For instance, in
2012, new cases of colorectal cancer were estimated to be over 93,000 and death
due to colorectal cancer is expected to be over 49,700 in the U.S alone.
·
Carcinoembryonic antigen based breast
cancer diagnosis is identified as the most lucrative application segment of the
market. The market is driven by factors such as growing number of female
population above 50 years, growing demand for Hormone Replacement Therapy (HRT)
and cosmetic surgeries. Moreover, growing patient awareness levels and the
presence of favorable government initiatives are expected to improve treatment
rates over the forecast period.
·
North America was the largest regional
market in 2014 owing to, the presence of high incidence rates, presence of
favorable reimbursement framework, and high consumer awareness levels coupled
with relatively higher healthcare expenditure levels.
·
Asia Pacific is anticipated to witness the
most lucrative growth over the forecast period. The presence of untapped
opportunities, constantly improving healthcare infrastructure, economic
development, and improving patient awareness levels are some factors accounting
for this rapid growth.
·
Key players operating in carcinoembryonic
antigen market include Abbott Diagnostics, Quest Diagnostics, Roche
Diagnostics, GenWay Biotech Inc. and Correlogic Systems, Inc.
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Grand View Research has segmented the
carcinoembryonic antigen market on the basis of application, and region:
Carcinoembryonic
Antigen Application Outlook (Revenue, USD Million, 2012 - 2022)
·
Colorectal cancer
·
Pancreatic cancer
·
Ovarian cancer
·
Breast cancer
·
Thyroid cancer
·
Others
Carcinoembryonic
Antigen Regional Outlook (Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
Spain
·
Asia Pacific
o
China
o
Japan
o
India
·
MEA
o
South Africa
·
Latin America
o
Brazil
o
Mexico
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Research: https://www.grandviewresearch.com/press-release/global-carcinoembryonic-antigen-cea-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
