Carcinoembryonic Antigen (CEA) Market Size Report | Share & Future Outlook 2030

[Research Report] The carcinoembryonic antigen (CEA) market size was valued at US$ 2,141.36 million in 2022 and is expected to reach US$ 3,475.94 million by 2031; it is estimated to register a CAGR of 6.2 from 2022 to 2031.

Market Insights and Analyst View:

Carcinoembryonic antigen refers to a group of glycoproteins that play a role in cell adhesion. CEA is routinely produced in fetal gastrointestinal tissue, but production terminates before birth. As a result, CEA can usually be detected at low concentrations in the healthy person's blood. CEA is also known as a tumor marker or tumor antigen. Tumor markers are substances that many cancer cells produce and occasionally spill into physiological fluids. A CEA test detects the presence of carcinoembryonic antigen, a tumor marker, in blood or other bodily fluids.

Key factors driving the carcinoembryonic antigen (CEA) market growth include the increasing prevalence of cancer, the rise in the geriatric population, and the increasing demand for minimally invasive diagnostic procedures. However, ineffective testing by CEA for cancer in early tumors hinders the market growth.

Growth Drivers and Restraints: 

Cancer is one of the major global health challenges, and its incidence has been increasing worldwide. Several factors contribute to the rise in cancer cases, including lifestyle changes, environmental factors, and an aging population. Healthcare facilities across the globe are observing a substantial increase in the prevalence of cancer. According to the National Cancer Institute (NCI), cancer is increasingly becoming a global health issue. In 2021, more than 19.3 million new cancer cases resulted in approximately 10 million cancer-related deaths worldwide. The World Health Organization estimated that, by 2040, there could be 28.9 million new cancer cases globally and ∼16.2 million cancer-related deaths yearly. CEA is a biomarker commonly used in the monitoring and diagnosis of various types of cancers, including lung, colorectal, and breast cancer. The growing incidence of cancer fuels the demand for CEA testing, driving the growth of the CEA market.

The geriatric population, comprised of individuals aged 65 and older, is increasing globally. According to the Union for International Cancer Control (UICC), aging is a significant risk factor for cancer, with a higher incidence of the disease observed in older adults. According to the World Health Organization (WHO), the proportion of the world's population over 60 years will nearly double from 12% to 22% Between 2015 and 2050. As the geriatric population grows, the demand for cancer screening, diagnosis, and monitoring increases. CEA testing plays a vital role in cancer management among the elderly population, facilitating early detection, treatment monitoring, and disease surveillance.

Furthermore, technological advancements in diagnostic testing have improved the accuracy and efficiency of CEA testing. Newer testing technologies, such as immunoassays and molecular diagnostics, offer enhanced sensitivity and specificity in CEA detection. These advancements enable earlier and more accurate cancer diagnosis and better monitoring of treatment response. The availability of improved testing technologies contributes to the expansion of the CEA market. Furthermore, Governments, healthcare organizations, and cancer societies have been actively promoting cancer screening programs and increasing awareness regarding the importance of timely detection of cancer. These initiatives aim to educate the general population about the benefits of regular screenings and encourage individuals to undergo appropriate diagnostic tests, including CEA testing. The implementation of screening programs and awareness initiatives contributes to the overall growth of the CEA market. Thus, the increase in cancer incidence, the growing geriatric population, the emphasis on early detection and monitoring, advancements in testing technologies, and cancer screening programs and awareness initiatives are key drivers for the growth of the CEA market. These factors highlight the importance of CEA testing in cancer diagnosis, treatment monitoring, and disease surveillance, thereby fueling the demand for CEA testing products and services.

While carcinoembryonic antigen (CEA) testing is widely used in diagnostic applications and monitoring cancers such as lung, breast, and colorectal cancer, it is essential to note that CEA testing has limitations, particularly in its effectiveness for detecting early tumors. CEA testing is not highly sensitive or specific for the early detection of cancer. Sensitivity refers to the test's ability to correctly identify individuals with the condition, while specificity refers to the test's ability to identify individuals without the condition correctly. CEA levels can be elevated in other non-cancerous conditions, such as liver disease, smoking, and inflammatory bowel disease. As a result, CEA testing may yield false positive or false negative results, leading to limitations in its effectiveness for early tumor detection.

CEA testing has lower sensitivity for the detection of early-stage tumors compared to its utility in monitoring cancer progression or recurrence. In the early stages of cancer, CEA levels may remain within the normal range, making it less effective for early tumor detection. Other screening methods, such as imaging techniques (e.g., mammography, colonoscopy) and genetic testing, are often more reliable for the detection of early-stage tumors.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Get 10% FREE CUSTOMIZATION

Carcinoembryonic Antigen (CEA) Market: Strategic Insights

Carcinoembryonic Antigen (CEA) Market

• 
  CAGR (2023 - 2031)

  6.20%
• Market Size 2023
  US$ 2.27 Billion
• Market Size 2031
  US$ 3.68 Billion

Market Dynamics

GROWTH DRIVERS

• XXXXXXX
• XXXXXXX
• XXXXXXX

FUTURE TRENDS

• XXXXXXX
• XXXXXXX
• XXXXXXX

OPPORTUNITIES

• XXXXXXX
• XXXXXXX
• XXXXXXX

Key Players

• F Hoffmann La Roche Ltd
• Abbott
• Quest Diagnostics Incorporated
• RayBiotech Inc
• Prospec Tany Technogene Ltd
• Correlogic Systems Inc
• GenWay Biotech Inc
• Merck KGaA
• Lee BioSolutions

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Test Type

• ELISA
• Radioimmunoassay
• Fluorescence Immunoassay

Application

• Colorectal Cancer
• Pancreatic Cancer
• Breast Cancer
• Lung Cancer

End Use

• Hospitals
• Diagnostic Centers
• Research and Academic Institutes

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Report Segmentation and Scope:

The global carcinoembryonic antigen (CEA) market is categorized on the basis of test type, application, end use, and geography. Based on test type, the carcinoembryonic antigen (CEA) market is segmented into ELISA, radioimmunoassay (RIA), fluorescence immunoassay (FIA), and others. Based on application, the carcinoembryonic antigen (CEA) is divided into colorectal cancer, pancreatic cancer, breast cancer, lung cancer, and others. Based on end use, the market is segmented into hospitals, diagnostic centers, and research and academic institutes. The carcinoembryonic antigen (CEA) market, based on geography, is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Segmental Analysis:

The carcinoembryonic antigen (CEA) market, by test type, is segmented into ELISA, radioimmunoassay (RIA), fluorescence immunoassay (FIA), and others. The ELISA segment held the largest carcinoembryonic antigen (CEA) market share in 2022, and it is anticipated to register the highest CAGR in the market during 2022-2031. The enzyme-linked immunosorbent assay (ELISA) is commonly used to measure antibodies, antigens, proteins, and glycoproteins in biological samples. The ELISA segment in the CEA market plays a crucial role in the detection, quantification, and monitoring of CEA levels in various clinical settings. The technique’s high sensitivity, specificity, and wide range of automation capabilities contribute to its prominence in CEA testing.

Based on the application, the carcinoembryonic antigen (CEA) market is segmented into colorectal cancer, pancreatic cancer, breast cancer, lung cancer, and others. The colorectal segment held the largest carcinoembryonic antigen (CEA) market share in 2022. However, the breast segment is expected to register the highest CAGR in the market during 2022-2031.

Based on the end use, the carcinoembryonic antigen (CEA) market is segmented into hospitals, diagnostic centers, and research and academic institutes. The hospital segment held the largest carcinoembryonic antigen (CEA) market in 2022. However, the research and academic institutes segment is expected to register the highest CAGR in the market during 2022-2031.

Regional Analysis:

Based on geography, the global carcinoembryonic antigen (CEA) market is segmented into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. Asia Pacific is estimated to register the highest CAGR during 2022–2031, owing to an increasing aging population, rising cancer prevalence, and rising healthcare costs. The development of cutting-edge healthcare infrastructure and increased awareness about cancer screening and early diagnosis are all driving demand for CEA testing in this region. The significant patient pool and increased acceptance of cutting-edge diagnostic technologies can be attributed to the CEA market's revenue growth in Asia Pacific.

In 2022, North America held the largest share of the global carcinoembryonic antigen (CEA) market size. The US has a high prevalence of cancer cases, which propels the carcinoembryonic antigen (CEA) market growth. As per the American Cancer Society estimates, more than 1.9 million people were diagnosed with cancer in 2021, and 608,570 people died due to cancer. It is also reported that 1 in 2 men and 1 in 3 women will be diagnosed with cancer in their lifetime in the US. Thus, the high prevalence of cancer among people in the US fuels the carcinoembryonic antigen (CEA) market growth.

Furthermore, according to the US Centers for Medicare & Medicaid Services, the national healthcare expenditure in the US increased by 2.7 percent in 2021, reaching US$ 4.3 trillion or US$ 12,914 per person. Also, health spending accounted for 18.3 percent of the nation's Gross Domestic Product. Furthermore, according to the US Department of Health & Human Services, National health spending is expected to grow at a 5.4% annual rate from 2021 to 2031, and it is expected to reach US$ 6.2 trillion by 2031. The rising health expenditure is estimated to increase various funding in the research related to the development of drugs, fueling the demand for carcinoembryonic antigen (CEA) by research and academic institutes.

Industry Developments and Future Opportunities: 

Various initiatives taken by key players operating in the global carcinoembryonic antigen (CEA) market are listed below:

1. In August 2023, Agilent Technologies Inc. opened a new full-scale integrated biology center located at Monash University in Malaysia. It is focused on building local capabilities to accelerate research and development in the field of science.
2. In May 2023, Pfizer and Thermo Fisher Scientific Inc. entered into a collaboration agreement to help increase local access to next-generation sequencing (NGS)-based testing for lung and breast cancer patients in over 30 countries across Latin America, Africa, the Middle East, and Asia where advanced genomic testing was previously limited or unavailable. Access to local NGS testing can help enable faster analysis of related genes, allowing healthcare providers to choose the best medicine for that specific patient.
3. In January 2023, Thermo Fisher Scientific Inc, the world leader in serving science, completed its acquisition of The Binding Site Group, a global leader in specialty diagnostics, from a shareholder group led by Nordic Capital in an all-cash transaction valued at GBP 2.3 billion, or US$ 2.8 billion at current exchange rates. The Binding Site adds pioneering innovation in diagnosis and monitoring for multiple myeloma to the existing specialty diagnostics portfolio. Early detection and informed treatment decisions can substantially impact patient outcomes.

Competitive Landscape and Key Companies:

Abbott Laboratories, F. Hoffmann-La Roche Ltd, Quest Diagnostics Incorporated, RayBiotech Inc, Prospec-Tany Technogene Ltd, Agilent Technologies Inc, GenWay Biotech Inc, Merck KGaA, Lee BioSolutions, and Thermo Fisher Scientific are among the prominent players operating in the carcinoembryonic antigen (CEA) market. These companies focus on new technologies, advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios.

Carcinoembryonic Antigen (CEA) Market Report Scope

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.