Global Carcinoembryonic Antigen Market Size Insights Forecasts to 2033

• The Global Carcinoembryonic Antigen Market Size was Valued at USD  2.04 Billion in 2023
• The Market Size is Growing at a CAGR of 5.46% from 2023 to 2033
• The Worldwide Carcinoembryonic Antigen Market Size is Expected to Reach USD  3.47 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Carcinoembryonic Antigen Market Size is Anticipated to Exceed USD 3.47 Billion by 2033, Growing at a CAGR of 5.46% from 2023 to 2033.    

Market Overview

The epithelial cells of the embryonic endoderm contain carcinoembryonic antigen (CEA). The gastrointestinal tract, the fetus, and the embryo's fluids contain the glycoprotein known as carcinoembryonic antigen. Carcinoembryonic antigen is also present at trace levels in the blood and gastrointestinal and colon mucosal cells. The most common CEA test is performed on blood. In addition, biopsy tissue and bodily fluids can be screened against the content. Particularly for gastrointestinal tract tumors, CEA is used as a tumor marker. A CEA test is performed both before and after surgery to remove a tumor from the body. The aging population, rising cancer incidence rates, and rising public awareness will drive the carcinoembryonic antigen market. The development of novel biomarkers and immunological methods, such as radioimmunoassay, which can supplement carcinoembryonic antigen (CEA) in detecting various cancer types, is anticipated to drive market growth. Positive government initiatives about cancer prevention and control, carried out by institutions like the National Cancer Institute and (CPCRN), are driving the growth of the carcinoembryonic antigen market.   

Report Coverage

This research report categorizes the global carcinoembryonic antigen market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global carcinoembryonic antigen market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global carcinoembryonic antigen market.

Driving Factors

Preclinical testing for disease diagnosis is becoming more widely known, and the most economical valuation method is carcinoembryonic antigen, which preserves the market need for testing high. In addition, as customers' disposable income rises and life expectancy increases, will drive the growth of the market. Technological developments connected to proteomics, including protein bioinformatics, mass spectroscopy, protein labeling, imaging, and array-based methods, are driving the growth of the carcinoembryonic antigen market.  The market will be driven due to the creation of novel biomarkers and immunological methods like radioimmunoassay that can be used with carcinoembryonic antigen (CEA) to detect different kinds of cancer.   

Restraining Factors

The market growth rate will be restricted by a lack of knowledge about the carcinoembryonic antigen test, the risk of infection from such tests, and the inability to identify cancer at an early stage.

Market Segmentation

The global carcinoembryonic antigen market share is classified into type, application, and end users.

• The molecular tests segment is expected to hold the largest share of the global carcinoembryonic antigen market during the forecast period.   

Based on the type, the global carcinoembryonic antigen market is divided into molecular tests and serology tests. Among these, the molecular tests segment is expected to hold the largest share of the global carcinoembryonic antigen market during the forecast period. Due to molecular tests having such great sensitivity and specificity, their use in cancer diagnoses is becoming more and more common. Molecular testing works to detect genetic mutations or modifications to DNA or RNA sequences associated with cancer.  

• The breast cancer segment is expected to hold the largest share of the global carcinoembryonic antigen market during the forecast period.   

Based on the application, the global carcinoembryonic antigen market is divided into colorectal cancer, pancreatic cancer, ovarian cancer, breast cancer, thyroid cancer, and others. Among these, the breast cancer segment is expected to hold the largest share of the global carcinoembryonic antigen market during the forecast period. The number of patients undergoing hormone replacement treatment (HRT), breast augmentation, and reconstruction surgery, as well as the growing proportion of women over 50 who are undergoing these procedures, are all contributing causes to the significant increase in incidences of breast cancer.

• The hospitals segment is expected to hold the largest share of the global carcinoembryonic antigen market during the forecast period.   

Based on the end user, the global carcinoembryonic antigen market is divided into hospitals, laboratories, and others. Among these, the hospitals segment is expected to hold the largest share of the global carcinoembryonic antigen market during the forecast period. Hospitals are essential for keeping in touch with patients during various stages of treatment for cancer. Among the diagnostic possibilities they offer are CEA tests, which help determine whether cancer is present or has returned. Hospitals are expected to require more CEA tests due to the projected growth in diagnosis of cancer and hospitalizations for cancer treatment.   

Regional Segment Analysis of the Global Carcinoembryonic Antigen Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global carcinoembryonic antigen market over the predicted timeframe.

North America is anticipated to hold the largest share of the global carcinoembryonic antigen market over the predicted timeframe. Due to the increased incidence of various malignancies among middle-aged and older populations, the carcinoembryonic antigen market in North America is predicted to rise substantially in the forecast period. With a market share of 89.4%, the carcinoembryonic antigen market in the United States commanded the largest proportion in North America. The high cancer rates, easy access to cutting-edge cancer detection and treatment technologies, and robust healthcare infrastructure are all cited as contributing factors in the North America region.

Asia Pacific is expected to grow at the fastest pace in the global carcinoembryonic antigen market during the forecast period. The Asia-Pacific carcinoembryonic antigen is associated with an increasing incidence of cancer, an aging population, adequate infrastructure for hospitals and diagnostic facilities, and increased geriatric patient knowledge of cancer care. In addition, the carcinoembryonic antigen market in China holds a dominant market position, and over the estimated period, the carcinoembryonic antigen market in India is anticipated to rise rapidly in the Asia-Pacific region.   

Europe is anticipated to hold a significant share of the global carcinoembryonic antigen market over the predicted timeframe.  The Europe carcinoembryonic antigen market was highlighted as a profitable region due to factors that have contributed to its rapid growth, including greater patient awareness, ongoing healthcare facility enhancements, and untapped prospects. The need for CEA testing in this region is being driven by various factors, including higher awareness about cancer screening and early diagnosis, more sophisticated healthcare facilities, and increased disposable money.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global carcinoembryonic antigen market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Quest Diagnostics Incorporated
• F. Hoffmann-La Roche Ltd
• Aviva Systems Biology Corporation
• Abbott
• Laboratory Corporation of America Holdings
• Merck KGaA
• Omega Diagnostics Ltd
• Boster Biological Technology
• Lee BioSolutions
• GenWay Biotech Inc.
• Correlogic Systems, Inc.
• Creative Diagnostics
• RayBiotech, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2022, The University of Texas MD Anderson Cancer Center and Virogin Biotech are collaborating strategically to speed up the development of experimental treatments, such as oncolytic viruses and immunotherapies, for advanced cancer patients.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global carcinoembryonic antigen market based on the below-mentioned segments: 

Global Carcinoembryonic Antigen Market, By Type

• Molecular Test
• Serology Test

Global Carcinoembryonic Antigen Market, By Application  

• Colorectal Cancer
• Pancreatic Cancer
• Ovarian Cancer
• Breast Cancer
• Thyroid Cancer
• Others

Global Carcinoembryonic Antigen Market, By End User

• Hospitals
• Laboratories
• Others

Global Carcinoembryonic Antigen Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa