Circulating Tumor Cell Market Analysis Statistics 2020 by Key Driving Factor, Dazzling Growth, Vital Players 2023

The research study presented here is an intelligent take on Circulating Tumor Cell (CTC) Market by MRFR that explains important aspects such as competition, segmentation, and regional growth in great detaiL

Circulating Tumor Cell Market To reach $28,300 million at highest CAGR by 2023. Advancements in biomedical imaging technology and soaring prevalence of cancer to boost growth of Global Circulating Tumor Cell Market. Global Circulating Tumor Cell Market analysis by Application (Research, Drug Development), Technology (CTC Enrichment, CTC Detection), End-User (Hospital & Clinics, Research & Academic Institutes, Diagnostic Centers) – Forecast Till 2023.

The players dominating the global circulating tumor cell market includes Greiner Bio-One International GmbH, Ikonisys Inc., SRI International, Thermo Fisher Scientific, Miltenyi Biotec, STEMCELL Technologies, QIAGEN Hannover (QIAGEN), Menarini Silicon Biosystems, NanoString Technologies, Inc, F. Hoffmann-La Roche Ltd, GE Healthcare, Fluxion Biosciences, Inc., Advanced Cell Diagnostics, Inc. (Bio-Techne Corporation), ApoCell, and Epic Lifesciences, Celltraffix Inc.

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Global Circulating Tumor Cell Market Overview

The circulating tumor cell (CTC) market is anticipated to surpass a valuation of USD 28,300 million, attaining a healthy CAGR during the forecast period (2018-2023), Market Research Future (MRFR) reveals in a detailed analysis. Advent of Cluster Chip Technology to Assist in Circulating Tumor Cell Market Growth

The global circulating tumor cell market has gained huge attention over the past few years. The prevalence of CTC has increased in the recent past. The mechanism of CTC is majorly responsible for deaths caused by cancer. Notable progress has been made to develop effective diagnostics and treatment, which encourages the market growth. Healthcare companies are highly focusing on developing solutions, which allow quick and accurate detection of CTC.

The soaring prevalence of cancer is one of the prominent factors predicted to influence the growth of the market in the foreseeable future. Majority of deaths caused by cancer are cancers having metastasized, which leads to the field of circulating tumor cells taking on a crucial position in modern oncology. Advancements made in bioengineering and biomedical imaging technology is considered a prominent factor encouraging the market growth. The role of translation research and genomics in the development of methods, which can improve enumeration, detection, and analysis of CTC in patient specimens is predicted to influence the market growth in the coming years. The surging adoption of companion diagnostic option and personalized medicine for the eradication of cancer from the infection site is likely to boost the market growth in the coming years. Moreover, the rising need for diagnosis, oncology screening, and therapy monitoring to determine patient’s health will elevate the scope for the market in years to come.

The advent of Cluster Chip Technology is considered a major factor driving the market for CTC globally. This technology can be used for the isolation of circulating tumor cells from the bloodstream by using a microfluidic device.

On the contrary, the dearth of awareness, along with the reluctance for the adoption of advanced CTC technologies are some of the concerns likely to restrict the market growth in the foreseeable future.

Global Circulating Tumor Cell Market: Segmental Analysis

The circulating tumor cell market is segmented on the basis of application, technology, and end user.

By application, the circulating tumor cell market is segmented into research, clinical, and drug development.

By technology, the circulating tumor cell market is segmented into CTC detection, CTC enrichment, and combined enrichment and separation of CTC. Of these, the CTC enrichment segment is predicted to gain prominence due to the extensive use of this method as a result of a wide scope of applications in oncology research. The presence of several methods based on electrochemical and physical properties of CTCs for their enrichment also enhances the market growth in the CTC enrichment segment.

By end user, the market comprises research and academic institutes, hospitals and clinics, and diagnostic centers.

Regional Analysis:

Geographically, the circulating tumor cell market spans across South America, North America, Asia Pacific, Europe, and the Middle East & Africa.

Considering the global scenario, North America will dominate the global market and is likely to retain its dominance in the foreseeable future. The highly advanced state of the healthcare industry in the region is considered a key factor conducive for the healthy growth of the market in the region. The soaring incidences of cancer, coupled with the rising efforts to enhance and update the means to combat the disease, are predicted to trigger the demand from the circulating tumor cell market.

The Asia Pacific is predicted to demonstrate a healthy growth in the coming years owing to the soaring healthcare expenditure, especially in emerging economies, coupled with the surging prevalence of cancer among the population. Moreover, international companies are showing interest to expand their business in countries like China and India, which will further encourage the market growth. Also, the presence of untapped opportunities in these economies is predicted to augment the market share.

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Industry Updates

June 2019: A team of researchers from the University of Arkansas for Medical Sciences has recently developed a non-invasive device which can detect circulating tumor cells as well as blast them away at the same time. This device, Cytophone, can employ a laser which heats the CTCs and detects them with ultrasound before turning up the heat to kill them.

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