According to a report by Grand View Research, Inc., the global circulating tumor cells (CTC) market is estimated to reach a valuation of USD 11.55 billion by 2022. Growing requirement for advanced diagnostic techniques to timely detect and monitor chronic diseases such as cancer is anticipated to propel the market during the forecast period (2017 to 2022). Circulating tumor cells can be used to determine progression rate of disease and therapy required to eradicate tumor. CTC tests possess the ability to quantify, detect, and analyze tumor cells inside patient’s blood.
Rising cases of chronic oncology dependent on detection and analysis of CTCs can foster the growth of the market in the coming years. Growing development in the field of biomedical imaging and biomedical engineering can influence the growth of the market positively. High demand for preventive medicines through timely and accurate diagnosis of tumor can augment the market. Development of tumor markers that can be used with companion diagnostics to monitor and diagnose different forms of tumor can stimulate market growth.
Growing number of patented research institutes is projected to drive the market. Rising preference for CTC tests for real-time monitoring of cancer therapy to conventional methods such as tumor tissue biopsy and imaging technologies is poised to help the market gain tremendous traction over the coming years. Introduction of novel biotechnological methods, which can enable quantitation and isolation of circulating tumor cells, can escalate the growth of the market.
Browse Research Report on Circulating Tumor Cells (CTC) Market:
The global circulating tumor cells (CTCs) market can be segmented on the basis of technology, application, and region. Based on technology, the market can be divided into CTC detection, CTC enrichment, and CTC analysis. In 2016, CTC enrichment methods commanded 45.0% of the market share in terms of revenue. It is expected to witness significant growth during the forecast period. Development of enriched CTCs can enable its functional characterization to support disease interrogation and target therapy. It can be further classified into negative depletion, positive depletion, and a combination of both techniques. Growing use of enrichment approaches for CTC detection in biotechnology research establishments owing to high accuracy can support the growth of the overall market during the forecast period.
Based on application, the market can be segmented into EMT biomarkers development, tumorigenesis research, cancer stem cell research, and others. Introduction of new technologies such as capturing CTC clusters from unprocessed blood using molecular biology technique is likely to facilitate robust detection of CTCs. Growing standard of methodology to expedite multicenter trials is estimated to promote clinical utility of CTC.
Increasing number of R&D activities to develop high-end collection techniques can work in favor of the market. Moreover, use of screen cell technology, biomarker development, and tumorigenesis research are anticipated to trigger the growth of the market during the forecast period.
From a geographical viewpoint, the market can be categorized into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa (MEA). In 2016, North America dominated the market and accounted for 48.0% of the market. High-end healthcare infrastructure coupled with domicile of a large number of key players is contributing to the growth of the regional market. In addition, growing awareness among patients and increasing R&D investments to discover new drugs can escalate market growth in the region during the forecast period. Moreover, supportive initiatives from local government in terms of R&D funding for clinical diagnostic products are projected to provide an upthrust to the market in North America.
In Asia Pacific, the market is poised to register a phenomenal CAGR of 13.4% in the coming years owing to mounting cases of cancer in developing countries of this region. Factors such as expanding base of geriatric population and changing lifestyles can be attributed for rise in the number of cancer patients. Besides this, infrastructure development in care centers and growing adoption of CTC diagnostic tests can supplement the growth of the market. Moreover, continuous efforts from countries such as Japan and China to develop advanced techniques to detect and monitor cancer is expected to spur the growth of the market in this region.
Some of the leading companies in the market are Advanced Cell Diagnostics, Aviva Biosciences, Silicon Biosystems, Janssen Diagnostics, and Sysmex Corporation. Most companies are likely to collaborate with university-based research institutes and hospitals to develop novel technologies for CTC enrichment and detection.
View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-circulating-tumor-cells-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.
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