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2022

Circulating Tumor Cell Market

Circulating Tumor Cell Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology, by Application, by End Users : Global Opportunity Analysis and Industry Forecast, 2021-2031

LS : Diagnostics and Biotech

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Author's: Monika Darandale| Mansi Pardeshi | Roshan Deshmukh
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Circulating Tumor Cell Market Research, 2031

The global circulating tumor cell market size was valued at $1.1 billion in 2021, and is projected to reach $5.9 billion by 2031, growing at a CAGR of 18% from 2022 to 2031. The tumor cells that get shed from the primary tumor and enter the blood circulation of the patient are known as circulating tumor cells (CTCs). These circulating tumor cells are expected to further undergo extravasations and form metastatic cancer.

These circulating tumor cells are very rare in nature with a count of one in a billion blood cells, which makes it difficult and challenging to detect them. Furthermore, CTCs are thought to be a pre-metastatic population that gives rise to distant metastases. Thus, a complete understanding of the CTCs and their biology is expected to hold promise for devising new therapeutic strategies for treating static diseases. 

Circulating Tumor Cell Market

Historical overview 

The market was analyzed qualitatively and quantitatively from 2018-2020. The circulating tumor cell market grew at a CAGR of around 16-18% during 2018-2021. Most of the growth during this period was derived from the Asia-Pacific region owing to the rise in awareness about new technologies, rise in disposable incomes, as well as well-established presence of domestic companies in the region.    

Market dynamics 

The growth of the circulating tumor cell market size is attributed to technological advancements in the field of diagnostics and treatment. The detection of these circulating tumor cells serves as an effective tool for the diagnosis and prognosis of cancer. Previously, tissue biopsies were performed to detect the cancer cells, which included complex and invasive procedures for removal of tissue.

However, there is increase in adoption of CTC detection, which is the minimally invasive technique used for the detection of cancer. This technique includes the use of body fluids and their analysis for the determination of cancerous and circulating tumor cells in the patient body. Also, due to complex nature of tumor and its heterogenicity, there is rise in research and development for inventing new techniques, which propels the growth during circulating tumor cell market forecast. 

In addition, rise in number of cancer cases, increase in awareness about CTCs and their detection in diagnosis of cancer, rise in research and development activities, and rise in number of clinical trials drive circulating tumor cell market growth. However, high cost associated with CTC testing owing to the high-quality instruments used for testing, makes its inaccessible for cancer detection for the population in the developing and poor countries, and is expected to hinder the market growth. However, rise in investment by key market players in developing countries, along with rise in adoption of various strategies by the key players is anticipated to offer lucrative opportunities to the market. 

The outbreak of COVID-19 has disrupted workflows in the healthcare sector globally. COVID-19 has forced a number of industries to shut their doors temporarily, including several sub-domains of healthcare. The global circulating tumor cell industry experienced a decline in sales 2020 due to global economic recession owing to COVID-19. In addition, the COVID-19 outbreak disrupted the supply chain across various end-user industries, such as food & beverage, healthcare, and industrial. In addition, there was decrease in the number of patient visits to the hospitals for other disease treatments other than COVID-19, which also reduced the number of tests performed for cancer diagnosis and CTC detection.

Thus, reducing the sale of products and instruments related to CTC testing during the pandemic. However, the market is anticipated to witness recovery from 2021 and in the near future, and show stable growth for the circulating tumor cells market. This growth is attributed to increase in the number of patient visits to the hospitals after the pandemic and rise in number of diagnostic centers shifting focus towards other disease, which mainly focused on COVID-19 during the pandemic.    

Segmental Overview 

The circulating tumor cell market is segmented into technology, application, end user, and region. By technology, the market is categorized into CTC detection and enrichment methods, CTC direct detection methods, and CTC analysis. The CTC detection and enrichment methods segment is further classified into immunocapture, size-based separation, density-based separation, combined methods, and others.

On the other hand, the CTC direct detection methods segment is further divided into surface-enhanced Raman scattering (SERS), microscopy, and others. On the basis of application, the market is segmented into clinical and research. By end user, it is segmented into hospitals and clinics, diagnostic centers, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

By technology, the CTC detection and enrichment methods segment dominated the circulating tumor cell market share in 2021, and the CTC analysis segment is expected to grow at a highest CAGR during the forecast period, owing to rise in developments in this segment, such as utilization of FISH and RT PCR techniques for CTC detection and cancer diagnosis.  

Circulating Tumor Cell Market by Technology

By application, the clinical segment dominated the global circulating tumor cell market in 2021 whereas the research segment is expected to grow with a highest CAGR rate during the forecast period. This rise is attributed to increase in research and development activities in CTC detection and diagnosis of cancer.  

Circulating Tumor Cell Market by Application

By end user, the diagnostic centers segment held the largest market share in 2021, whereas the others segment is expected to remain dominant during the forecast period, owing to rise in funding offered to the research centers and academic research institutes by the government and non-government organizations. In addition, rise in number of research centers engaged in cancer diagnosis and treatment studies is also expected to drive the market growth during the forecast period.

Circulating Tumor Cell Market by End Users

 

Region-wise, the circulating tumor cell market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.  North America accounted for a major circulating tumor cell market share of the circulating tumor cell market in 2021, and is expected to maintain its dominance during the forecast period. Presence of several major players, such as Thermo Fisher Scientific and Biocept, Inc. and advancement by these companies in manufacturing of circulating tumor cell products in the region drive the growth of the market. In addition, rise in number of cancer cases in North America, is expected to drive the market growth.  

However, Asia-Pacific is expected to grow at the highest rate during the forecast period. The market growth in this region is attributable to presence of pharmaceutical companies in the region as well as growing purchasing power of populated countries, such as China, Japan and India. Moreover, rise in awareness among the population regarding new technologies for cancer detection, is expected to drive the sales of circulating tumor cell products.  

Circulating Tumor Cell Market by Region

COMPETITION ANALYSIS 

Competitive analysis and profiles of the major players in the circulating tumor cell market, such as Biocept,Inc., Greiner AG (Greiner Bio One International GmbH), Meriani Group (Menarini Silicon Biosystems), Miltenyi Biotec, Precision Group (Precision for medicine), QIAGEN N. V., SRI International, STEMCELL Technologies Inc., Sysmex Corporation, and Thermo Fisher Scientific Inc. are provided in this report. Also, there are some important players in the market such as Fluxion Biosciences Inc. and others. Major players have adopted product launch, product approval, business expansion, service expansion, clinical trials and acquisition as key developmental strategies to improve the product portfolio of the circulating tumor cell market.   

Product launches

In October 2022, Thermo Fisher Scientific Inc., announced the launch of Gibco CTS DynaCellect Magnetic Separation System (DynaCellect), which assists cell therapy developers to easily move from process and clinical development to commercial manufacturing. This next-generation cell isolation, cell activation, cell depletion, and Dynabeads magnetic beads removal instrument provides a scalable, flexible, automated, and closed system to help optimize the cell therapy manufacturing process. Thus, ensuring that the right cells are isolated and failures in manufacturing are minimized.  

Acquisitions 

In October 2022, Thermo Fisher  announced an agreement to acquire The Binding Site Group, a global leader in specialty diagnostics, serving clinicians, and laboratory professionals globally, by providing specialty diagnostic assays and instruments to improve the diagnosis and management of blood cancers and immune system disorders. 

Clinical Trials 

May 2019, Thermo Fisher announced the results of the Clinical Utility of Liquid Biopsy for Cancer Monitoring at the European Association for Cancer Research (EACR) Joint Conference on liquid biopsies in Bergamo, which states liquid biopsy as a valuable tool for monitoring treatment response in a cancer patient. 

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the circulating tumor cell market analysis from 2021 to 2031 to identify the prevailing circulating tumor cell market opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the circulating tumor cell market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global circulating tumor cell market trends, key players, market segments, application areas, and market growth strategies.

Circulating Tumor Cell Market Report Highlights

Aspects Details
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Market Size By 2031

USD 5.9 billion

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Growth Rate

CAGR of 18%

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Forecast period

2021 - 2031

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Report Pages

237

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By Technology
  • CTC Detection and Enrichment Method
    • Type
      • Immunocapture
      • Size-based Separation
      • Density-based Separation
      • Combined Methods
      • Others
  • CTC Direct Detection Methods
    • Type
      • SERS
      • Microscopy
      • Others
  • CTC Analysis
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By Application
  • Clinical
  • Research
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By End Users
  • Hospital and Clinics
  • Diagnostic Centers
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Key Market Players

Sysmex Corporation, Thermo Fisher Scientific Inc., Menarini Group, Precision Medicine Group LLC, STEMCELL Technologies Inc. , SRI International, Miltenyi Biotec, Greiner AG, QIAGEN, Biocept, Inc.

Analyst Review

The global circulating tumor cell market is expected to exhibit high growth potential attributable to factors, such as rise in R&D activities in the pharmaceutical industry for manufacturing of the diagnostic kits, increase in prevalence of cancer cases along with rise in incidences of circulating tumor cell, and surge in number advancements in the diagnosis and treatment. Furthermore, the circulating tumor cell market has gained interest of many pharmaceutical and medical devices companies, owing to surge in demand for diagnostic kits and instruments due to rise in the patient pool in regions, such as Asia-Pacific and LAMEA. 

In addition, increase in research related to the CTCs also boosts the market growth. CTCs are recognized to have application in disease diagnosis, prognosis, and deciding the treatment regime. In addition, CTCs are also used as a key indicator in cancer diagnosis and hence, help in early diagnosis of cancer. In addition, government and non-government organizations offer funds for R&D activities, which further drives the circulating tumor cell market as CTCs detection plays a significant role in various clinical trials.

The CXOs further added that North America is expected to witness the highest growth, in terms of revenue, owing to presence of key players, rising government initiatives, developing healthcare infrastructure, and rising prevalence of health issues, whereas Asia-Pacific is expected to register the highest growth during the forecast period.
 

Author Name(s) : Monika Darandale| Mansi Pardeshi | Roshan Deshmukh
Frequently Asked Questions?

The market value of circulating tumor cell market in 2031 is $5,882.72 million

Top companies such as, Biocept,Inc., Greiner AG (Greiner Bio One International GmbH), Meriani Group (Menarini Silicon Biosystems), Miltenyi Biotec, Precision Group (Precision for medicine), QIAGEN N. V., SRI International, STEMCELL Technologies Inc., Sysmex Corporation, and Thermo Fisher Scientific Inc. These key players held a high market postion owing to the strong geographical foothold in different regions.

The major factor that fuels the growth of the circulating tumor cell market arerise in number of cancer cases, increase in awareness about CTCs and their detection in diagnosis of cancer, rise in research and development activities along with rise in number of clinical trials.

CTC Detection and Enrichment Method is the most influencing segment in circulating tumor cell market which is attributed to the rise in developments in this segment and launch of new technologies for CTC detection and cancer diagnosis.

The tumor cells that get shed from the primary tumor and enter into the blood circulation of the patient are known as circulating tumor cells (CTCs).

The base year is 2021 in circulating tumor cell market.

The forecast period for circulating tumor cell market is 2022 to 2031

The total market value of circulating tumor cell market is $1,122 million in 2021.

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Circulating Tumor Cell Market

Global Opportunity Analysis and Industry Forecast, 2021-2031