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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.