Research Nester recently published report titled “Circulating Tumor Cells Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the circulating tumor cells market in terms of market segmentation by application, by technology, by end-user and by region.
The circulating tumor cells market segmentation by technology into CTC enrichment, CTC detection, by application into clinical, research, drug development; and by end-user into hospital & clinics, research & academic institutes, diagnostic centers. The circulating tumor cells market is anticipated to record a CAGR of 15.4% over the forecast period i.e. 2019-2027.
Biological investigation of CTCs helps oncologist in gaining insights into tumor development mechanism, thereby enhancing diagnosis, serial sampling, therapeutic manipulation, and understanding resistant cancer profiles. Projects involved in biotechnology sector for trouble shooting the problems faced during CTC analysis are likely to support the development of novel methodologies, which in turn, is expected to drive market over the forecast period.
Novel microfluidic chip that e1nables the capture of CTC clusters, is also expected to boost the demand. Availability of cluster chips and other such products at various medical facilities for the treatment purposes are further expected to fuel demand over the forecast period. Usage of cluster chip technology for studying CTC clusters is expected to help oncologists understand tumor metastases so that it can be treated at minor stage itself.
According to the World Cancer Research Fund, in 2018, there were an estimated 18 million cancer cases around the world, out of which, 9.5 million cases were in men and 8.5 million in women. Lung and breast cancers were the most common and contributed about 12.3% of the total number of new cases that were diagnosed in 2018.
According to the WHO, in 2018, approximately 70% of the deaths in low and middle-income countries were due to cancer. With this growing burden, prevention of the cancer is one of the most significant challenges. Furthermore, according to the Globocan Database, in 2018, it was estimated that the number of new cases would grow from 18.1 million to 29.4 million, between 2018 and 2040. Thus, the increasing prevalence of cancer is one of the major factors that are augmenting the growth of the market.
North America region is panned to observe substantial growth in circulating tumor cells market on the back of high per capita health care expenditure, increasing prevalence of cancer and availability of advanced health care facilities have resulted people spending more health care (expenditure for cancer patients is mostly in breast, lung, and colon and rectum cancers) Furthermore, increasing demand for new product launches and technological advancements are anticipated to drive the circulating tumor cells market over the forecast period.
Asia pacific market is anticipated to witness growth over the forecast perioddue to increase in population and rising healthcare budget of major economies like China and India. With rising investment in upgrading to latest technologies supported by the rise in medical tourism in this area, the demand for circulating tumor cells is expected to increase at a high rate.
Middle East & Africa region is expected to hold a moderate share in the circulating tumor cells market over the forecast period due to gradual increase in the usage of different allograft products especially in the GCC countries. Various bio banking and tumor cells organizations such as Bio-science institute are expected to drive the market over the forecast period. Numerous government and private organizations are working toward developing circulating tumor cells to address the increasing demand for circulating cells and related procedures in the region.
However, high cost, lack of highly experienced physician, lack of knowledge among the people about the early stages of cancer are expected to operate as a key restraint to the growth of circulating tumor cells market over the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the circulating tumor cells market which includes company profiling of Ikonisys Inc., Greiner Bio-One International GmbH, Thermo Fisher Scientific, SRI International, STEMCELL Technologies, Miltenyi Biotec, Menarini Silicon Biosystems, QIAGEN Hannover (QIAGEN), F. Hoffmann-La Roche Ltd, NanoString Technologies, Inc, Fluxion Biosciences, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the circulating tumor cells market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.