Global Carcinoembryonic Antigen Market - 2022-2029

Global Carcinoembryonic Antigen Market - 2022-2029

Market Overview

Carcinoembryonic Antigen (CEA) Market is expected to grow at a high CAGR of 3.9% during the forecasting period (2022-2029).

Carcinoembryonic antigen (CEA) is a glycoprotein normally found in the embryonic endodermal epithelium. The CEA blood level may increase in certain cancer and non-cancerous (benign) conditions. A (CEA) test measures the amount of this protein that may appear in the blood of some people who have certain kinds of cancers, especially cancer of the large intestine (colon and rectal cancer).

Market Dynamics

The global piling of the global cancer burden propels the carcinoembryonic antigen (CEA) market growth.

The increasing number of cancer cases propels the carcinoembryonic antigen (CEA) global market growth.

Cancer is among the leading cause of death globally, according to World Health Organization. It is responsible for an estimated 10 million deaths in 2020. Globally, about 1 in 6 deaths is due to cancer. Approximately 70% of deaths from cancer occur in low- and middle-income countries; the most common type of cancer are breast (2.26 million cases in 2020), lung (2.21 million cases in 2020), and colon & rectum cancers (1.93 million cases in 2020). The number of cancer cases diagnosed worldwide each year has risen tremendously due to increasing life expectancy, eventually resulting in millions of people being diagnosed in their lifetime, driving the market's growth. Around one-third of cancer deaths are due to the 5 leading behavioral and dietary risks: high body mass index, low fruit and vegetable intake, lack of physical activity, tobacco use, and alcohol consumption. Tobacco use is among the most important risk factors for cancer, with an estimated 8 million people dying annually. It is responsible for approximately 22% of cancer deaths. All these factors are expected to boost the market growth during the forecast period.

The lack of awareness and effective approach for early cancer detection is restraining the global carcinoembryonic antigen (CEA) market growth.

However, an ineffective approach for cancer detection at the initial stage and lack of awareness restrain the carcinoembryonic antigen market growth.

Industry analysis.

The global carcinoembryonic antigen (CEA) market report will provide an in-depth analysis of the market based on various industry factors such as porter`s five forces, innovations, new product launches, pricing analysis, and pipeline analysis.

COVID-19 Impact Analysis

COVID-19 has presented the Carcinoembryonic antigen (CEA) market with rising opportunities. For instance, COVID-19 has made us focus on biotechnologically modified products to achieve better results. Amidst the outburst, many biopharmaceutical industries developed different biotechnologically modified vaccines to treat and diagnostic kits to diagnose SARS-CoV-2. Moreover, biotechnological equipment has helped in the various stages of combating the pandemic; the COVID-19 pandemic has made us realize that biotechnological solutions provide a better healthcare system, positively affecting the Carcinoembryonic antigen (CEA) market.

Segment Analysis/B>

The gastrointestinal cancer application of the carcinoembryonic antigen (CEA) is assumed to command the global market throughout the forecast period (2022-2029).

Gastrointestinal cancer held the largest market share in 2021 and is estimated to dominate over the forecast period (2022-2029). Gastrointestinal cancer includes various types of cancer, such as colorectal, pancreatic, liver, stomach, esophageal, etc. It is one of the most common cancers worldwide. Over 70% of gastrointestinal cancer cases occur in developing countries, affecting most of the population. Colorectal cancer is estimated to be 3rd most common cancer worldwide, owing to the growing demand for minimally invasive cancer diagnosis methods, the increasing influence of sedentary lifestyle in the adult population, and rising public awareness associated with an early cancer diagnosis. For instance, according to WCRF International, in 2020, there were about 1.9 million new colorectal cancer cases worldwide. According to the World Health Organization, colorectal cancer deaths are almost 1 million annually. The IARC WHO estimates that between 2020 and 2040, the global burden of colorectal cancer will increase by 56%, reaching more than 3 million new cases annually.

Geographical Analysis

The North American region holds the largest market share of the global Carcinoembryonic antigen (CEA) market.

North America is dominating the global carcinoembryonic antigen (CEA) market, accounting for the largest market share in 2021, owing to the rising incidence of cancer in this region, growing awareness about detecting cancer at an early stage, and advanced health care services for cancer therapeutics. For instance, the National Cancer Institute estimated that 1,806,590 new cancer cases were diagnosed in the United States in 2020, and 606,520 people died. Furthermore, the American Cancer Society 2021 estimated that around 1.9 million new cancer cases were diagnosed, and 608,570 deaths were registered under cancer as a death reason for the year 2021. CDC has projected that the number of new cancer cases per year will rise to 29.5 million by 2040. Furthermore, the increased funding for cancer research in North America ensures its command over the global market. For instance, for the Financial Year 2020, funds available to the NCI totaled $6.4 billion (including $195 million in CURES Act funding), reflecting an increase of 9.2 percent, or $524 million from the previous fiscal year.

Competitive Landscape

The carcinoembryonic antigen (CEA) market is competitive, with few major players competing to gain market share. Some of the major players in the global carcinoembryonic antigen (CEA) market include Quest Diagnostics, F. Hoffman LA Roche, GenWay Biotech Inc., Correlogic Systems, Inc., Abbott Laboratories, Boster Biological Technology, RayBiotech, Inc., Omega Diagnostics Group PLC, Merck KGaA, Creative Diagnostics, among others. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations contributing to the global carcinoembryonic antigen (CEA) market. For instance, on July 4, 2022, Creative Diagnostics launched a new cell-based ELISA service.

Boster Biological Technology

Overview:

Boster Bio was founded in 1993 by histologist Steven Xia and is headquartered in the United States. Boster Bio is a leading company dealing with antibody manufacturing specializing in high-sensitivity, high-specificity ELISA kits and WB/IHC compatible antibodies. Boster Bio has Elisa kits market in the USA and spread worldwide.

Product Portfolio:

The product portfolio of Boster Biological Technology for carcinoembryonic antigen (CEA) has Human Carcinoembryonic Antigen (CEA) OneStep ELISA Kit.

The global carcinoembryonic antigen (CEA) market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.