Carcinoembryonic Antigen Market Size, Share, And Growth Report 2032

Carcinoembryonic Antigen Market: Size

The global Carcinoembryonic Antigen Market size was worth around USD 1199.52 million in 2023 and is predicted to grow to around USD 2150.24 million by 2032 with a compound annual growth rate (CAGR) of roughly 6.7% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD million). The report covers a forecast and an analysis of the Carcinoembryonic Antigen Market on a global and regional level.

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Carcinoembryonic Antigen Market: Overview

Carcinoembryonic antigens (CEA) are class of proteins usually seen in very low amounts in the blood of adults. In various types of cancers as well as benign non-cancerous conditions, the levels of carcinoembryonic antigen in the blood may be increased. Thus CEA can be used as marker for cancer diagnostic tests. CEA test is mainly used for diagnosing colorectal cancer. However it can also be used for diagnosing other cancers including lung, pancreatic, breast, ovarian, liver, stomach etc. This test can also be used for detecting various non-cancerous conditions such as an inflammation such as pancreatitis, benign breast disease, inflammation of the gallbladder or cholecystitis, emphysema, rectal polyps, ulcerative colitis, peptic ulcer etc.

The demand for carcinoembryonic antigen market is driven by increasing prevalence of cancer across the globe and increasing R&D investments for devising early cancer detection cost effective tools. Currently, carcinoembryonic antigen is most cost effective preclinical detection tool for diagnosis of cancer, primary detection of liver metastasis.  However lack of awareness and ineffective approach for cancer detection at initial stage may hamper the market growth over the forecast period. Emerging nations with untapped market opportunities are expected to bring new growth avenues for major market players in the global carcinoembryonic antigen.

Carcinoembryonic Antigen Market: Segmentation

The study provides a crucial view on the carcinoembryonic antigen by segmenting the market based on application, end user and region. All the segments of carcinoembryonic antigen market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on application, global carcinoembryonic antigen market is bifurcated into thyroid cancer, prostate cancer, ovarian cancer, lung cancer, breast cancer, gastrointestinal (GI) cancer and other applications. Gastrointestinal cancer application segment accounted for largest market share in 2023 due to increasing prevalence of gastrointestinal cancer. Gastrointestinal cancer includes various caner types such as pancreatic, colon, rectal, liver, stomach, gallbladder, esophageal and anal cancer. Breast cancer application segment will register rapid growth over the forecast period.

The end user segment is divided research and academic institutes, diagnostic centers, hospitals and other end users. Hospitals end user segment held largest market share due to increasing number of patient pool. Diagnostic centers will see highest growth over the forecast period for carcinoembryonic antigen market.

Carcinoembryonic Antigen Market: Report Scope

Carcinoembryonic Antigen Market: Regional Analysis

North America dominated the global carcinoembryonic antigen market in 2023. Increasing prevalence of cancers and growing awareness are key factors driving the market growth in this region. Europe was second leading regional market. Availability of developed infrastructure, increasing awareness and growing prevalence of cancer are some of factors that boost market growth in this region. Latin America is expected to witness moderate growth over the forecast period. Asia Pacific region is estimated to exhibit highest growth for carcinoembryonic antigen market in the coming years. Growing need for cost effective early cancer detection tests, increasing cancer prevalence and increasing aging population are factors promoting carcinoembryonic antigen market growth in Asia Pacific. Middle East and Africa is projected see considerable growth in coming years.

Carcinoembryonic Antigen Market: Competitive Players

Major players included in the report are:

• Boster Biological Technology
• RayBiotech Inc.
• Omega Diagnostics Group PLC
• Creative Diagnostics
• Correlogic Systems Inc.
• GenWay Biotech Inc.
• Quest Diagnostics
• F. Hoffmann-La Roche Ltd. 

The Global Carcinoembryonic Antigen Market is segmented as follows:

Global Carcinoembryonic Antigen Market: By Application

• Gastrointestinal Cancer
• Breast Cancer
• Lung Cancer
• Ovarian Cancer
• Prostate Cancer
• Thyroid Cancer
• Other Applications

Global Carcinoembryonic Antigen Market: By End User

• Hospitals
• Research and Academic Institutes
• Diagnostic Centers
• Other End Users

Global Carcinoembryonic Antigen Market: By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa