Alpha-fetoprotein (AFP) Tumor Marker Market: Increase in incidence of cancer and chronic diseases is a major factor boosting the market
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.
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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.
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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.
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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
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