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Circulating Tumor Cell Market Expected to Reach $5.9 Billion by 2031—Allied Market Research

 
2022
Circulating Tumor Cell Market

Report Code : A11918

quote Rrise 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, are some factors drive growth of the market. quote

Onkar Sumant - Manager
Life Sciences at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Circulating Tumor Cell Market," The circulating tumor cell market size was valued at $1.1 billion in 2021, and is estimated to reach $5.9 billion by 2031, growing at a CAGR of 18% from 2022 to 2031.

Circulating tumor cells (CTCs) are cells that are detached from primary cancer and get circulated into the blood circulation of the patient. In the past few years, it has been recognized that CTCs are useful as biomarkers for prognostic, diagnostic, and therapeutic response monitoring of the cancer patient. Furthermore, circulating tumor cells are rare in nature and are found with a count of one CTC per milliliter of peripheral blood, surrounded by roughly 1 million white blood cells and 1 billion red blood cells. As these cells are rare in nature, there are numerous obstacles found in their detection process. However, significant advancements in detection techniques have been done, especially for those utilizing integrated microfluidics and/or nanomaterial-based platforms, which further reduces the complexity by providing high selectivity for the detection of CTCs.

Major circulating tumor cell market trends which drive growth of the market includes, rise in number of cancer cases around the globe.  Furthermore, CTC detection is mainly used for early diagnosis of cancer. Therefore, these CTC detection techniques are adopted for cancer diagnosis and prognosis. Hence, there is rise in demand for products, such as kits and instruments, which are used in CTC detection. This further leads to expansion of the market.

In addition, people are shifting towards minimally invasive techniques due to advantages, which minimally invasive techniques offer over traditional techniques. More people are becoming aware about this noninvasive technique for cancer detection. In addition, government and non-government organizations are creating awareness about the diagnosis and treatment techniques for cancer.

Moreover, awareness campaigns are initiated on a large scale in developing countries, such as India and China, which is anticipated to drive circulating tumor cell market growth. In addition, factors that drive the growth of the global circulating tumor cell market include, rise in awareness about CTCs and their role in diagnosis of cancer and its early detection as a preventive measure. 

There is rise in adoption of CTC for detection of cancer by the people, as it is a non-invasive method for cancer detection. The traditional cancer detection, involves techniques such as tissue biopsies and surgeries. Invasive methods such as tissue biopsies and surgeries are replaced by non-invasive diagnosis technique, such as CTC detection offer various advantages over traditional cancer detection methods. Thus, driving the growth of the market.  

However, high cost of the test and its associated products, is expected to hinder to the market in the developing nations. Furthermore, new product launches and product approvals by the public and private players will provide a lucrative opportunity for the market. 

By technology, the CTC detection and enrichment methods segment dominated the market in 2021, owing to advantages that this method offers over direct detection, such as rapid test results, with high purity of detection of cells using fast and easy cell isolation techniques such as immunocapture. On the other hand, the CTC analysis segment is expected to grow at the fastest rate during the forecast period.

By application, the clinical segment dominated the market in 2021, owing to rise in adoption of CTC detection techniques in cancer diagnosis along with rise in number of cancer cases including breast, prostate, and colon cancer, whereas the research segment is expected to grow at the fastest rate with a CAGR of 18.6% during the forecast period.

North America acquired the major circulating tumor cell market share of the circulating tumor cell market in 2021, owing to well-established healthcare infrastructure along with favorable policies offered by the government for diagnosis and treatment of cancer, whereas Asia-Pacific is expected to register the highest CAGR of 20.2% from 2022 to 2031

Key findings of the study-
• By technology, the CTC detection and enrichment methods segment was the highest contributor to the circulating tumor cell industry in 2021.
• By application, the clinical segment was the highest contributor to the market in 2021, whereas the research segment is expected to grow at a fastest rate during the forecast period.
• By end user, the diagnostic centers segment held the highest position in terms of revenue in 2021, whereas the others segment is expected to grow at the highest CAGR during the forecast period.
• Region-wise, North America garnered the largest revenue share in 2021, and Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

 

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quote Circulating Tumor Cell Market by Technology (CTC Detection and Enrichment Method, CTC Direct Detection Methods, CTC Analysis), by Application (Clinical, Research), by End Users (Hospital and Clinics, Diagnostic Centers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031 quote

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