(PharmaNewsWire.Com, June 24, 2020 ) Market Overview • The Global Carcinoembryonicantigen (CEA) Market is expected to grow at a high CAGR during the forecasting period (2020-2027). • Carcinoembryonic antigen (CEA) is a glycoprotein normally found in embryonic entodermal epithelium. The CEA blood level may be increased in certain types of 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 growth of the global carcinoembryonic antigen (CEA) market is driven by several factors such as, rising incidence rate for cancer, growing demand for minimally invasive diagnostics procedures, and increasing geriatric population. • According to the WHO, cancer is the second leading cause of death globally, and is responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths is due to cancer. Approximately 70% of deaths from cancer occur in low- and middle-income countries. The number of cancer cases diagnosed worldwide each year has risen tremendously, due to increasing life expectancy that will eventually result in millions of people being diagnosed in their lifetime, hence driving the growth of the market. Around one third of deaths from cancer 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 use. Tobacco use is the most important risk factor for cancer and is responsible for approximately 22% of cancer deaths. All these factors are expected to boost the market growth during the forecast period. • The development of novel combination biomarkers and initiatives by the government concerning improved diagnostic rates are likely to open growth avenues for CEA market. The advent of various tumor markers, which can be used along with CEA to monitor or diagnose colorectal cancer is predicted to influence the market growth positively. • Carcinoembryonic antigen is the recurrent indicator in asymptomatic patients and presently the most cost-effective assessment for preclinical detection of illness. The test is beneficial for the primary detection of liver metastasis in patients with diagnosed colorectal cancer. • However, ineffective approach for cancer detection at initial stage and lack of awareness are restraining the carcinoembryonic antigen market growth.
Market Segmentation Analysis • On the basis of application, the global, carcinoembryonic antigen (CEA) market is segmented into gastrointestinal cancer, breast cancer, lung cancer, ovarian cancer, prostate cancer, and thyroid cancer. Gastrointestinal cancer held the largest market share in 2018 and estimated to dominate over the forecast period. (2020-2027). Gastrointestinal cancer includes various types of cancer such as colorectal cancer, pancreatic cancer, liver cancer, stomach cancer, esophageal cancer, and others. It is one of the most common cancers worldwide. Over 70% of gastrointestinal cancer cases occur in developing countries affecting majority of the population. Colorectal cancer is estimated to be dominant application within gastrointestinal cancers, owing to the growing demand for minimally invasive cancer diagnosis methods, increasing influence of sedentary lifestyle in adult population, and rising public awareness associated with early cancer diagnosis. In 2017, there were about 95,520 new cases of colon cancer and 39,910 cases of rectal cancer diagnosed in the US. The numbers of colon cancer are fairly equal in men (47,700) and women (47,820). According to the World Health Organization (WHO), the number of deaths is expected to rise in all countries for both colon and rectal cancer by 60.0% and 71.5% until 2035, respectively, due to population growth and ageing. • By gender, carcinoembryonic antigen market for males held the largest market share in 2018. According to the American Cancer Society, about half of men get cancer at some point of their lives, as compared to one-third of women population, hence driving the market size. In addition, based on a study published in the European Journal of Epidemiology in 2012, researchers concluded that cancer affects men more often than women owing to certain risk factors, such as smoking and drinking. The female segment is expected to grow at a significant CAGR during the forecast period (2020-2027), as majority of females are suffering from breast cancer globally, and it is the most common cancer affecting the women population, hence boosting the market growth.
Market Geographical Analysis • North America is dominating the global carcinoembryonic antigen (CEA) market accounting for largest market share in 2018, 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, according to American Cancer Society, in 2019, 1,762,450 new cancer cases and 606,880 cancer deaths were projected to occur in the United States. According to the National Cancer Institute, an estimated 1,735,350 new cases of cancer were diagnosed in the U.S. in 2018. Also, the U.S. has seventh highest cancer rate worldwide with about 300 of every 100,000 Americans developing cancer each year. • The Asia-Pacific carcinoembryonic antigen (CEA) market is growing at the fastest growth rate during the forecast period (2020-2027), owing to increasing prevalence of cancer in countries including India and China. India market is estimated to grow substantially at a CAGR over the forecast period. According to the National Cancer Registry Programmed, Indian Council of Medical Research, NCRP (ICMR), the total cancer cases are projected to increase from 979,786 cases in 2010 to 1,148,757 cases by 2020. The tobacco-related cancers for males are estimated to go up from 190,244 in the year 2010 to 225,241 in the year 2020. Similarly, the female cases will go up from 75,289 in year 2010 to 93,563 in the year 2020. For the year 2010, the number of cancer cases related to digestive system, for both males and females, are estimated to be 107,030 and 86,606 respectively. Gynecological-related cancers are estimated to go up from 153,850 in 2010 to 182,602 in 2020. Among males and females, cancer of breast alone is expected to cross the figure of 100,000 by the year 2020. Hence, with rising number of cancer cases, the demand for the treatment in increasing, thus driving the growth of the market in this region.
Market Competitive Trends • 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, Creative Diagnostics, among others. • The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the carcinoembryonic antigen (CEA) market globally. For instance, • In October 2019, SurgiMab, a late-stage biotechnology company pioneering a new antibody-based fluorescence-guided approach with the aim to improve cancer surgery and clinical outcomes for patients, announced that the first US patient has been recruited into its on-going pivotal Phase 3 clinical trial evaluating its investigational imaging agent SGM-101 in patients undergoing colorectal cancer (CRC) surgery. SGM-101 is a tumor-specific antibody conjugated to a dye (fluorophore) that fluoresces under near-infra-red light; it selectively targets a marker on the cancer cell surface known as carcinoembryonic antigen (CEA), which is overexpressed by more than 95% of colorectal cancer cells. • In April 2019, Kitov Pharma, an innovative pharmaceutical company developing first-in-class combination oncology therapies, acquired FameWave Ltd., following a clinical collaboration agreement between FameWave and Bristol Myers Squibb for their planned Phase 1/2 clinical trials to evaluate the combination of CM-24, a monoclonal antibody targeting the novel immune checkpoint carcinoembryonic antigen-related cell adhesion molecule 1 (CEACAM1) with nivolumab (Opdivo®), a PD-1 inhibitor, in patients with non-small cell lung cancer (NSCLC). • In February 2019, RedPath Integrated Pathology, Inc., a leader in molecular diagnostics, launched a new, patent-pending, customized test to accurately measure carcinoembryonic antigen (CEA) in all pancreatic cyst fluids. Unlike routinely used, commercially available CEA assays, AccuCEA™ provides accurate results, even in pancreatic cyst fluid specimens with limited volume and/or high viscosity. Furthermore, AccuCEA provides physicians with more options in the diagnostic work-up of patients by preserving precious fluid and making it available for additional tests.
About Us DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information: Sai Kiran Sales Manager at DataM Intelligence Email: info@datamintelligence.com Tel: +1 877 441 4866 Website: www.datamintelligence.com
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
