Alpha-fetoprotein (AFP) Tumor Marker Market: Introduction
- Alpha-fetoprotein (AFP) is the most common plasma protein produced by the liver of a fetus. When a baby is born, AFP levels are usually high; however, the level falls to quite low by age one. It is necessary for a healthy adult to have very low levels of AFP. Alpha-fetoprotein (AFP) tumor marker is used to detect and diagnose cancer of the liver, testicles, and ovaries. A blood sample is required for AFP tumor test. Tumor markers are substances produced either by cancer cells or by normal cells in response to cancer in the body.
- The presence of elevated levels of AFP can be a sign of liver, ovary, or testicle cancer, as well as noncancerous liver diseases such as cirrhosis and hepatitis. According to studies, it has been proven that around 70% of patients having hepatocellular carcinoma are found to have high AFP concentrations. Moreover, 50% to 70% of patients having non-seminomatous testicular tumor showed high concentrations of AFP. Alpha-fetoprotein (AFP) tumor marker is often used in conjunction with human chorionic gonadotropin.
Key Drivers, Restrains, and Opportunities of Global Alpha-fetoprotein (AFP) Tumor Marker Market
- Increase in incidence of cancer and chronic diseases is a major factor boosting the growth of the global alpha-fetoprotein (AFP) tumor marker market. According to WHO, 905,677 people reported suffering from liver cancer in 2020. Surge in the incidence rate of liver cancer is projected to fuel the demand for alpha-fetoprotein (AFP) tumor marker globally.
- The cancer diagnostics market is on the verge of explosion, as researchers search for major technological breakthroughs in tumor diagnosis and therapy. They focus on discovering new specific antigens and methods for further enhancing the mode of treatment.
- Technological breakthroughs are anticipated to create opportunities in the global alpha-fetoprotein (AFP) tumor marker market. However, shortage of skilled professionals and false-negative results in testing are expected to hamper market growth during the forecast period.
- The COVID-19 pandemic has led to imposition of travel ban and shutdown of manufacturing units, offices, and marketplaces by governments across the globe. The health care infrastructure has also been largely impacted. Necessary precautionary measures were implemented by health care professionals in different health care facilities in order to curb the spread of the virus. The development of AFP tumor marker test has been complex and faces challenges related to clinical accuracy, regulatory assessment, availability, and implementation through different health care environments.
North America to Capture Major Share of Global Alpha-fetoprotein (AFP) Tumor Marker Market
- North America is likely to account for major share of the global alpha-fetoprotein (AFP) tumor marker market owing to rise in prevalence rate of chronic disease in the region. Moreover, surge in research & development activities helps develop new treatments for multiple diseases, which in turn contributes to the growth of the global alpha-fetoprotein (AFP) tumor market.
- The alpha-fetoprotein (AFP) tumor marker market in Asia Pacific is projected to grow at a rapid pace during the forecast period. This is attributed to increase in disposable income and rise in health care expenditure.
Key Players Operating in Global Alpha-fetoprotein (AFP) Tumor Marker Market
The global alpha-fetoprotein (AFP) tumor marker market is highly consolidated due to the presence of small number of key players. These players hold major share in their respective regions.
Major players operating in the global alpha-fetoprotein (AFP) tumor marker market are listed below:
- Abbott Laboratories
- Roche Diagnostics
- Thermo Fisher Scientific
- MP Biomedicals
- Other Prominent Players
Global Alpha-fetoprotein (AFP) Tumor Marker Market: Research Scope
Global Alpha-fetoprotein (AFP) Tumor Marker Market, by Cancer Type
- Liver Cancer
- Testes Cancer
- Ovarian Cancer
Global Alpha-fetoprotein (AFP) Tumor Marker Market, by Application
- Screening and Early Detection
- Post Treatment Monitoring
Global Alpha-fetoprotein (AFP) Tumor Marker Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.