Albany, NY -- (SBWIRE) -- 01/11/2019 -- CA Tumor Markers Testing Market: Overview
Tumor markers are biological substances found in the body tissues, blood and urine; that can be elevated when a person is suffering from cancer. Tumor markers are normally made of cancerous cells or by the body in response to cancer. Traditional tumor markers are proteins; however newer tumor markers are genetic substances.
There are various types of cancer antigen (CA) tumor markers each indicative of a specific disease mechanism; and these tumors are used in oncology to help in the detection of cancer of a particular organ or site. An elevated level of a CA tumor marker can signify various forms of cancer such as breast cancer, colorectal cancer and ovarian cancer. Currently, the CA tumor marker testing market is a lucrative thanks to the high numbers of patients opting for such testing and the increasing base of cancer patients, which makes this industry not only highly profitable but also attractive to investors.
CA Tumor Markers Testing Market: Regional Overview
From the geographical perspective, North America stands as the largest market for CA tumor markers testing owing to the large base of cancer patients. According to the American Cancer Society, approximately 1,660, 290 new cases of cancer were diagnosed in 2013. Another report published by the WHO, it was estimated that globally 14.1 million new cases of cancer were diagnosed and almost 8.2 million deaths related to cancer occurred in 2012.
However, other regional markets such as Southeast Asia, the Middle East, and Latin America are projected to be the potential markets in the near future. This can be ascribed to the increasing levels of disposable income among the population and the high rate of adoption of advanced cancer screening tools. It is expected that these emerging regions will be high-potential markets in the near future.
CA Tumor Markers Testing Market: Drivers
The overall CA tumor marker testing market is witnessing a remarkable growth owing to the increasing rate of incidence of cancer and other non-communicable disorders. Moreover, increasing geriatric population will further fuel the growing demand for tumor assays and novel cancer therapeutics globally. Moreover, trends show that the global CA tumor marker testing market could potentially be a lucrative field showing continued expansion owing to the spiraling adoption rate of diagnostic services and technologies that are more advanced than the previous ones.
With technological breakthroughs on the cards, projections show that this market will generate abundant opportunities for detecting targeted tumors, monitoring cellular response and for determining genetic predisposition. Furthermore, increased focus on retaining superior quality of life is some of the factors contributing in the growth of this market. However, a rise in the overall healthcare spending, rigid and, in some cases, unfavorable, reimbursement policies, and the high cost of developing new technologies are some of the factors that might act in the opposite direction of the growth of the CA tumor marker testing market.
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CA Tumor Markers Testing Market: Competitive Dynamics
The global CA tumor markers testing market is observed as being a highly fragmented one because of the active participation of many players both established and emerging. The major players involved with the CA tumor markers testing market are Abbott Laboratories, Becton, Dickinson and Company, Applied Genetic Technologies Corporation, bioMérieux SA, Cepheid, Correlogic Systems, Inc., Myriad Genetics, Panacea Pharmaceuticals, Qiagen, Radient Pharmaceuticals, Siemens Healthcare, Targeted Diagnostics & Therapeutics and Thermo Fisher Scientific.
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