Carcinoembryonic Antigen Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.04 Billion |
| Market Size (2029) | USD 2.80 Billion |
| CAGR (2024 - 2029) | 6.55 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Carcinoembryonic Antigen Market Analysis
The Carcinoembryonic Antigen Market size is estimated at USD 2.04 billion in 2024, and is expected to reach USD 2.80 billion by 2029, growing at a CAGR of 6.55% during the forecast period (2024-2029).
Factors such as the increasing prevalence of cancer, the rise in the demand for minimally invasive diagnostic procedures, and technological advancements are expected to drive the market's growth over the forecast period.
Carcinoembryonic antigen (CEA) is a protein found in the blood. While typically present at low levels during adulthood, elevated levels can sometimes indicate the presence of certain cancers, particularly colorectal cancer. CEA tests serve two critical purposes in cancer management. CEA levels can rise in the early stages of some cancers, making the test valuable for early detection when treatment is most effective. Moreover, tracking CEA levels after a cancer diagnosis can help monitor treatment response and identify potential recurrence.
Increasing cancer cases worldwide is a strong driver of the CEA market. For instance, the report published by the American Cancer Society in January 2023 estimated that about 1.9 million new cancer cases would occur in the United States in 2023. Similarly, according to the report by Red Española de Registros de Cáncer in January 2023, the incidence of cancer cases estimated in Spain for 2023 was 279,260, of which 158,544 were for men and 120,715 for women. The rising incidence of cancer cases worldwide is driving the growth of the CEA market due to the increasing demand for CEA-based diagnostic and monitoring solutions.
Major players in the market are working on novel technologies to cater to the rising demand for CEA-based diagnostic and monitoring solutions, thereby propelling market growth. For instance, in June 2023, a novel CAR-T cell methodology incorporating logic-gating mechanisms was announced, which was undergoing clinical trials for solid tumor treatment at NYU Langone Health's Perlmutter Cancer Center. Researchers expect it to offer therapeutic advantages to individuals afflicted with such malignancies.
Similarly, in August 2022, Sanofi and Innovent Biologics collaborated to introduce innovative treatments for patients in China with challenging cancer conditions. Both organizations are dedicated to expediting the development and commercialization of two critical Sanofi oncology assets: Phase III SAR408701 (tusamitamab ravtansine, an anti-CEACAM5 antibody-drug conjugate) and Phase II SAR444245 (non-alpha IL-2), in combination with siltuximab, a leading checkpoint inhibitor in China. SAR408701 represents a potential first-in-class antibody-drug conjugate targeting CEACAM5, a cell-surface glycoprotein highly expressed in non-small cell lung cancer (NSCLC), gastric cancer, and other malignancies.
Therefore, the increasing prevalence of cancer, rising demand for minimally invasive diagnostic procedures, and technological advancements are driving the growth of the carcinoembryonic antigen (CEA) market. However, the inability of CEA-based tests to detect some cancers at their early stages is expected to hinder market growth over the forecast period.
Carcinoembryonic Antigen Market Trends
The Cancer Diagnosis Segment is Expected to Witness Significant Growth Over the Forecast Period
The CEA market includes diagnostic tools that measure CEA levels in blood or other bodily fluids. The carcinoembryonic antigen can be elevated in individuals with certain cancers. CEA levels are a valuable tumor marker for monitoring cancer progression, treatment efficacy, and potential recurrence. The market is experiencing significant growth, driven primarily by the rising incidence of cancer, advancements in screening techniques, and rising awareness of cancer.
As the geriatric population increases, the risk of developing cancer also increases, as age is a well-established risk factor for cancers associated with elevated CEA levels. For instance, in June 2023, a press release by the European Commission estimated the prevalence of all sites but non-melanoma skin cases in 2040 to be around 603,417. The European Commission also estimated the total number of bladder cancer cases in Europe to be around 41,417, breast cancer 73,202, and colorectum cancer cases to be around 66,992 by 2040.
In addition, as per the same source, the incidence rates of all cancers combined in the United Kingdom are projected to increase by 2% between 2023-2025 and 2038-2040, reaching an average of 625 cases per 100,000 people annually by 2038-2040. This shows the increasing burden of cancer cases in the country, which is expected to raise the demand for cancer diagnosis and boost market growth over the forecast period.
In September 2023, the Canadian government reported that about 28,600 Canadian women were diagnosed with breast cancer in 2022, i.e., 25% of all new cancer cases in women in 2022. The International Agency for Cancer Research estimates 33,565 new breast cancer cases to be identified in Canada in 2025 and 43,141 new cases by 2050. Thus, the increasing prevalence of cancer among the aging population and the rising incidence of cancer among the general population are driving the growth of the market by amplifying the demand for advanced diagnostic and monitoring tools essential for effective cancer management.
Moreover, advancements in screening technologies like colonoscopies and low-dose CT scans lead to earlier cancer detection. This, in turn, necessitates using tools like CEA tests for monitoring purposes. For instance, a report published by the Journal of the Japanese Cancer Association in July 2022 identified that 5′tRF-Gly was a tumor-promoting factor in hepatocellular carcinoma (HCC) by targeting and downregulating carcinoembryonic antigens, which is a tumor suppressor. This insight into carcinoembryonic antigen's role in HCC progression highlighted its potential as a diagnostic biomarker and therapeutic target, thereby propelling the growth of the segment.
Thus, factors such as the increasing prevalence of cancer and the growing demand for novel cancer diagnosis techniques will likely contribute to the segment's growth over the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
During the forecast period, the North American market is expected to grow exponentially. This can be attributed to the rising incidence of cancer cases and the strong preference among healthcare practitioners for carcinoembryonic antigens.
The rising prevalence of cancer propels market growth. For instance, according to the American Cancer Society, lung cancer prevalence is increasing in the country. The country reported 238,340 lung cancer cases in 2023 compared to 236,740 in 2022. This data indicates a rapid increase in cancer incidence within the country. Estimations suggest that this trend will continue, leading to a heightened demand for advanced cancer diagnosis and monitoring technologies.
Similarly, as per the report published by the Canadian Cancer Society (CCS) 2023, the highest healthcare burdens in Canada were due to the increased cases of cancer in the country. It was estimated that 124,200 males and 114,900 females were diagnosed with cancer in 2023.
In addition, as per the same source, lung and bronchus cancer, breast cancer, prostate cancer, and colorectal cancer were the top four cancers that accounted for 46% of cancer diagnoses in the country in 2023. Thus, due to the high burden of cancer, the demand for advanced cancer treatment procedures with higher accuracy is increasing in the country, which is expected to boost market growth over the forecast period.
Technological advancements in the region are also propelling the growth of the market. For instance, according to a research paper published by the Journal of Hematology and Oncology in December 2023, the development of NILK-2301 demonstrated significant advancements in targeting CEACAM5-expressing cancer cells, offering a potent and well-tolerated therapeutic option to address previous limitations of T-cell retargeting therapies. This innovation is poised to drive the adoption of carcinoembryonic antigen-based products by providing a novel, effective, and safer treatment approach, thereby enhancing the market's appeal and potential for investment.
Therefore, the factors mentioned above, such as the prevalence of cancer and technological advancements, are expected to drive market growth in the region during the forecast period.
Carcinoembryonic Antigen Industry Overview
The carcinoembryonic antigen market is moderately competitive due to the presence of companies operating internationally and regionally. These market participants are undertaking several organic and inorganic growth strategies to capture a higher revenue share. Some prominent companies in the market include F. Hoffmann-La Roche AG, Laboratory Corporation of America Holdings, Merck KGaA, Quest Diagnostics, and Creative Diagnostics.
Carcinoembryonic Antigen Market Leaders
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F. Hoffmann-La Roche AG
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Laboratory Corporation of America Holdings
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Merck KGaA
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Quest Diagnostics
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Creative Diagnostics
*Disclaimer: Major Players sorted in no particular order
Carcinoembryonic Antigen Market News
- February 2024: ImmunityBio launched the enrollment and initial follow-up for the safety portions of a clinical trial of a tri-valent combination of antigens delivered by a second-generation Adenovirus vector (Tri-Ad5 CEA/MUC1/brachyury).
- February 2024: Aster Labs launched its new blood test to detect CEA (carcinoembryonic antigen) levels in the blood. CEA is a protein formed by gastrointestinal tissue during fetal development. Its production declines as pregnancy advances and stops before the baby's birth.
Carcinoembryonic Antigen Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.1.1 Market Drivers
4.1.1.1 Increasing Prevalence of Cancer
4.1.1.2 Rise in the Demand for Minimally Invasive Diagnostic Procedures
4.1.1.3 Technological Advancements
4.1.2 Market Restraints
4.1.2.1 Inability of CEA in detection of cancer in early stages
4.1.3 Porter's Five Force Analysis
4.1.3.1 Threat of New Entrants
4.1.3.2 Bargaining Power of Buyers/Consumers
4.1.3.3 Bargaining Power of Suppliers
4.1.3.4 Threat of Substitute Products
4.1.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Test Type
5.1.1 Serology Tests
5.1.2 Molecular Tests
5.2 By Application
5.2.1 Cancer Diagnosis
5.2.2 Treatment Monitoring
5.3 By End User
5.3.1 Hospitals
5.3.2 Diagnostic Centers
5.3.3 Others
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abcam Limited
6.1.2 Aviva Systems Biology Corporation
6.1.3 Boster Biological Technology
6.1.4 Creative Diagnostics
6.1.5 F. Hoffmann-La Roche AG
6.1.6 Laboratory Corporation of America Holdings
6.1.7 Merck KGaA
6.1.8 Omega Diagnostics
6.1.9 Quest Diagnostics
6.1.10 RayBiotech Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Carcinoembryonic Antigen Industry Segmentation
As per the scope of the report, the CEA test quantifies a blood glycoprotein, known as carcinoembryonic antigen (CEA), characterized by an abundance of sugars attached to it by both normal and cancerous cells. Often referred to as a tumor marker or antigen, CEA, like other tumor markers, is produced and released by specific cancer cells into bodily fluids.
The carcinoembryonic antigen market is segmented by test type, application, end user, and geography. The test type segment is further divided into serology tests and molecular tests. The application segment is further divided into cancer diagnosis and treatment monitoring. By end user, the market is segmented into hospitals, diagnostic centers, and others. The geography segment is further divided into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report offers the value (USD) for all the above segments.
| By Test Type | |
| Serology Tests | |
| Molecular Tests |
| By Application | |
| Cancer Diagnosis | |
| Treatment Monitoring |
| By End User | |
| Hospitals | |
| Diagnostic Centers | |
| Others |
| Geography | ||||||||
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Carcinoembryonic Antigen Market Research FAQs
How big is the Carcinoembryonic Antigen Market?
The Carcinoembryonic Antigen Market size is expected to reach USD 2.04 billion in 2024 and grow at a CAGR of 6.55% to reach USD 2.80 billion by 2029.
What is the current Carcinoembryonic Antigen Market size?
In 2024, the Carcinoembryonic Antigen Market size is expected to reach USD 2.04 billion.
Who are the key players in Carcinoembryonic Antigen Market?
F. Hoffmann-La Roche AG, Laboratory Corporation of America Holdings, Merck KGaA, Quest Diagnostics and Creative Diagnostics are the major companies operating in the Carcinoembryonic Antigen Market.
Which is the fastest growing region in Carcinoembryonic Antigen Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Carcinoembryonic Antigen Market?
In 2024, the North America accounts for the largest market share in Carcinoembryonic Antigen Market.
What years does this Carcinoembryonic Antigen Market cover, and what was the market size in 2023?
In 2023, the Carcinoembryonic Antigen Market size was estimated at USD 1.91 billion. The report covers the Carcinoembryonic Antigen Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Carcinoembryonic Antigen Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Carcinoembryonic Antigen Industry Report
Statistics for the 2024 Carcinoembryonic Antigen market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Carcinoembryonic Antigen analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
