Global Carcinoembryonic Antigen Market share to reach $2.78bn by 2023: Global Market Insights Inc. Global Carcinoembryonic antigen (CEA) market size was evaluated at $1670 million for 2015 and is predicted to register CAGR of 6.6% surpassing $2800 million mark by end of forecast period. The industry is predicted to experience high growth during forecast timeframe due to factors like growing occurrence of cancer, favourable government policies, development of new immunological methods like radioimmunoassay and growth of new biomarkers. But less sensitivity & specificity of the tests along with heavy competition from more sensitive biomarkers is predicted to hinder the industry growth. Quest diagnostics incorporation, leading service provider of diagnostic information, had acquired Summit Health, a leading service provider of wellness & onsite prevention. The joint business is now referred as Quest diagnostics health & wellness services. Quest offers direct to employer services while summit health provides private label services which health improvement firms can resell to other customers or employers. In future, this combined firm will add service extensions to both private label offerings as well as direct to employer offerings.
Global Carcinoembryonic antigen (CEA) market is segmented into key geographical regions including North America, Asia Pacific, Europe, Latin America and MEA. North America led the global industry in terms of revenue for 2014 due to high occurrence of cancers in patients, favorable compensation policies, high levels of patient consciousness and presence of modern healthcare infrastructure along with comparatively greater healthcare spending in the region. It is predicted to surpass $800 million in 2016 due to enhanced healthcare services and growing levels of consciousness to identify cancer at early phases. Further, technological breakthroughs along with launch of new particular biomarkers and antigens will fuel industry growth in the region. Asia Pacific Carcinoembryonic antigen (CEA) market is predicted to grow rapidly during the forecast period due to factors like fast improving healthcare amenities, high disposable income, rise in levels of patient consciousness about new cancer treatments, increase in healthcare spending, favourable government initiatives related to eradication of cancer, presence of unexplored avenues and economic growth. Further, the industry growth in the region is driven by countries like China
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