Carcinoembryonic antigens are glycoproteins that play a major role in cell adhesion. Carcinoembryonic antigen is present at very low concentration in healthy adults. Normal carcinoembryonic antigen level in healthy adult is in range between 2.5-5.0 µg/L. Level up may increase due to benign disease or smoking. However, its concentration in serum rise very high in some types of cancer. Hence, carcinoembryonic antigen used as a marker and assist in monitoring the treatment of various malignant and non-malignant conditions. As, sensitivity and specificity are low the test is more useful for monitoring than diagnosis. Carcinoembryonic antigen detection test often carried out after the surgery to identify percent of carcinoembryonic antigen level. In humans, carcinoembryonic antigen family consist of overall 29 genes, in which 18 are normally expressed.
Global carcinoembryonic antigen market segmented based on application of carcinoembryonic antigen: malignant condition and non-malignant condition. Malignant condition further subdivided into colorectal carcinoma, gastric carcinoma, pancreatic carcinoma, lung carcinoma, breast carcinoma, ovarian cancer, thyroid cancer and others. Furthermore, non-malignant condition subdivided into chronic kidney disease, pancreatitis, inflammatory bowel disease, irritable bowel syndrome, and others. Colorectal carcinoma held largest share of the global carcinoembryonic antigen market due to increasing prevalence of colorectal cancer, and more sensitivity to identify antigen. For instance, according to World Health Organization (WHO) colorectal cancer recorded fourth most common cancer deaths in 2012 in overall cancer deaths. Additionally, Increasing alcohol consumption, sedentary lifestyle, and unhealthy diet attribute to the growth of colorectal cancer in near future. However, carcinoembryonic antigen application in breast cancer segment is most lucrative market due to huge incidence of breast cancer, and increasing awareness in women. Geographically, the global market segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa, and rest of the world. North America accounted largest share of the global carcinoembryonic antigen market due to increasing consumer awareness, favorable reimbursement policies, and growing incidence rate of cancer. For instance, according to American Cancer Society (ACS), approximately 589,430 patient in America expected to die due to cancer, which is about 1,620 patient per day in 2015. However, Asia Pacific is likely to grow at fastest rate during forecast period from 2015-2023 due to continuously improving health care infrastructure and expenditure, and improving patient awareness level.
Increasing incidence of cancer expected to increase the demand of various diagnosis and monitoring tests. For instance, according to WHO, number of new cases diagnosed with cancer expected to grow by 70% over two decades. Additionally, growing demand for minimally invasive diagnostic test, presence of government initiatives pertaining to cancer awareness, and technological advancement in proteomics could further propel the market during forecast period. Continuous development of novel immunological technique such as radioimmunoassay anticipated to increase the demand for carcinoembryogenic antigen test during forecast period. However, low sensitivity and specificity of the test, and competition from other more sensitive biomarkers expected to restrain the market growth. Carcinoembryonic antigen test’s sensitivity is very low during early stage of disease.
Some of the major players operating in global carcinoembryonic antigen market include Abbott Diagnostics, Correlogic Systems, Inc., GenWay Biotech Inc., Quest Diagnostics, and Roche Diagnostics. The market is highly consolidated, and hence companies are engaged in mergers and acquisitions. Manufacturer face continuous pressure to introduce new technology with more sensitivity in the market.
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.