Circulating Tumor Cell (CTC) Market Overview
The market is projected to surpass a valuation of USD 28.30 billion by the end of 2023, reflecting a healthy growth rate.
In recent years, the CTC prevalence rate has risen. For the vast majority of deaths caused by cancer, the CTC system is responsible. Important improvement has been made in the production and treatment of reliable CTC diagnostics, but survival rates remain modest. The ongoing need for treatment of multiple chronic diseases prompts the pharmaceutical and biotechnology industries to invest extensively in research and development to produce innovative drugs for cancer and other chronic diseases that promote the growth of the global market for circulating tumour cells.
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Massive unmet medical needs in developed regions and a serious shortage of sufficient medical services in poor countries threaten market development, but developing economies provide strong growth opportunities for the global market for circulatory tumour cells as it offers space for market growth in untapped regions. Through tackling healthcare issues, suppliers can achieve growth through labelling their presence in those regions.
Circulating Tumor Cell Market Segmentation
Based on use, infrastructure, and end-user, the global circulatory tumour cell market has been segmented. The market has been segmented into clinical, academic, drug production, and others by use. The highest segment is the therapeutic segment, accounting for 63 percent of the share. Over the projected era, the drug development segment is expected to see rapid growth as pharmaceutical and biotech firms are increasingly relying on CTC for drug development.
The market has been segmented across technology into CTC enrichment, CTC identification, and CTC analysis. Technology-wise, due to its usefulness in reducing the time required for isolation of rare CTCs, CTC enrichment is the largest category.
The industry has been segmented by end-users into hospitals , laboratories, research and learning institutions, testing centres, and others. The global demand is dominated by hospitals and clinics and is projected to hit USD 9.18 billion by the end of 2023. There has been a persistent demand for cancer diagnosis and care to help the sector of hospitals and clinics expand at a remarkable 20.92 percent CAGR over the prognosis period.
Circulating Tumor Cell Market Regional Overview
The global circulatory tumor cell market spans across the regions of the Americas, Europe, Asia Pacific and the Middle East & Africa. Globally, due to the high cancer incidence in the region, the Americas account for the largest share of the circulating tumour cell market. In addition, the Americas has a large healthcare industry and is an early adopter of emerging innovations that drive the region ‘s demand for healthcare purposes. By the end of 2023, the American market for circulating tumour cells is projected to cross USD 13,01 billion and grow over the forecast period at a CAGR of 20.56 percent.
Europe is the second-largest circulating tumour cell market, followed closely by the Asia Pacific region. The Asia Pacific market is mushrooming in size and is predicted to grow over the projected period at a CAGR of 20.84 per cent. High growth prospects for the global industry are stored in the untapped Asia Pacific economies. Rising cancer incidences along with technical developments support the growth of the region’s industry.
Circulating Tumor Cell Market Competitive Dashboard
Key players in this market for Circulating Tumour Cells Market are Celula (US), ApoCell, Inc. (US), Biocep Ltd. (Israel), Fluxion Biosciences, Inc. (US), Biofluidica Microtechnologies LLC (US), Creatv Microtech, Inc. (US), Biocept, Inc. (US), Clearbridge Biomedics (Singapore), Janssen Diagnostics LLC (US), Cynvenio Biosystems, Inc. (US), Epic Biosciences Inc. (US), Celltraffix Inc. (US), Ikonisys, Inc. (US), IVDiagnostics, Inc. (US), ScreenCell (France), RARECELLS SAS (Italy), STEMCELL Technologies, Inc. (Canada), Epic Sciences (US), QIAGEN Hannover GmbH (Germany), Advanced Cell Diagnostics (US) and AdnaGen (Germany).
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