Worldwide Carcinoembryonic Antigen Market Expected To Reach $ 2.33 Billion By 2020 With A CAGR Of 6.6%

Date: 2016-09-18

Constant technological advancements pertaining to the development of novel biomarkers which can be used in combination with other biomarkers is expected to boost usage rates over the forecast period. Furthermore, the increasing prevalence of cancer is expected to heighten the demand for effective diagnostic tools. According to the WHO estimates in 2012, global cancer incidences were nearly 14.1 million, which include 6.7 million female patients and 7.4 million male patients. Increasing demand for minimally invasive diagnostics procedures is also expected to play a vital role in determining market growth. Key advantages associated with minimally invasive diagnostics procedures include elevated patient satisfaction levels as they entail minor incision wounds. In addition, these procedures involve relatively lesser hospital stays and therefore, are economically viable and involve fewer post procedure complications.

The Carcinoembryonic Antigen market was estimated at USD$ 1.69 billion in 2015, and is anticipated to reach USD$ 2.33 billion by 2020, expanding at a CAGR of 6.6% between 2016 and 2020. 

North America, hinged on the U.S. Carcinoembryonic Antigen market size, is predicted to lead the segment with estimations of USD 800 million in 2016. Growing awareness about detecting cancer at an early stage and improved health care services for cancer therapeutics are anticipated to propel growth. Asia-Pacific region driven by India and China is targeted to foresee growing prevalence of cancer owing to changes in lifestyle and aging population in the area. The growth is mainly attributed to improved treatment facilities and high disposable income. The Asia-Pacific market share can surpass USD 380 million in the near future.

Colorectal cancer tops the application segment and is expected to foresee growth over the forecast period. Breast cancer segment is likely to be the most lucrative with estimations of over USD 460 million at over 7% CAGR during the projected time frame.
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

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