The global “Circulating Tumor Cell (CTC) Diagnostics Market” is projected to reach US$ 1,909.41 million by 2028 from US$ 3,656.38 million in 2021; it is expected to grow at a CAGR of 9.7% during 2021-2028. The market growth is mainly attributed to the increasing prevalence of cancer globally.
A circulating tumor cell (CTC) is a cell that sheds into lymphatics from the primary tumor and carried out throughout the body with blood circulation. Circulating tumor cells are the seeds for growth and metastases for additional tumors in distant organs and is responsible for majority of cancer-related deaths. The diagnosis, detection, and analysis of CTC can assist in patients’ prognoses determine appropriate tailored treatments for the patients. The CTC diagnosis has a lot of advantages for traditional diagnostic procedures. It is a noninvasive and effective process that can be used repeatedly. CTC detection and enrichment, CTC direct detection, and CTC analysis are among the major technologies.
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The List of Companies – Circulating Tumor Cell (CTC) Diagnostics Market
- Thermo Fisher Scientific Inc.
- STEMCELL Technologies Inc.
- Precision Medicine Group, LLC.
- Advanced Cell Diagnostics, Inc. (BIO-TECHNE CORPORATION)
- Epic Sciences
- Ikonisys, Inc.
- Fluxion Biosciences Inc.
According to a study published by the National Cancer Institute, cancer incidence in the US is likely to reach 1.9 million in 2021. Around 0.6 million people were anticipated to die in 2021 in the US due to cancer. Moreover, according to data published by Cancer Research UK in 2020, around 0.16 million people in the UK die each year due to cancer. As per the Globocan report, in 2018, there were 911,014 breast cancer cases and 310,577 deaths due to breast cancer, of which 367,900 and 162,468 breast cancer cases were reported in China and India, respectively. Thus, the increased prevalence of cancer across the globe is propelling the demand for circulating tumor cell diagnostics.
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Based on technology, the global circulating tumor cell (CTC) diagnostics market is segmented into CTC detection and enrichment method, CTC direct detection method, and CTC analysis. In 2020, the CTC detection and enrichment method segment held the largest share of the market. However, the same segment is expected to register the highest CAGR during 2021-2028. An enrichment stage, if done properly, can enhance selectivity, sensitivity, and yield. Also, most crucially, it can cut the time taken to isolate rare circulating tumor cells to half. Therefore, various advantages offered by enrichment technique are expected to drive the market during the forecast period.
Based on application, the global circulating tumor cell (CTC) diagnostics market is bifurcated into clinical/liquid biopsy and research. In 2020, the research segment held a larger share of the market and is expected to register a higher CAGR in the market during 2021-2028. The detection of CTCs in blood samples is becoming one of the most active areas of translational cancer research. Therefore, the rising demand for new diagnostic and treatment methods for cancer is expected to drive the market during the forecast period.
Based on end-users, the circulating tumor cell (CTC) diagnostics market is segmented into hospitals and clinics, research and academic institutes, and diagnostic centers. The research and academic institutes segment held the largest market share in 2021. However, the same segment is expected to hold a significant market share in the market during the forecast period. The increasing research surrounding cancer diagnosis and therapeutic development, growing awareness for cancer diagnosis, and high investment from government and other enterprises are a few of the critical factors supporting the growth of the cancer research institutes segment.
A few major primary and secondary sources referred to while preparing the report on the global circulating tumor cell (CTC) diagnostics market are the Global Cancer Observatory, World Bank Data, International Health Regulation, International Agency for Research on Cancer (IARC), National Cancer Institute, Cancer Research UK, and World Bank Data.
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