Dublin, Sept. 13, 2022 (GLOBE NEWSWIRE) -- The "Circulating Tumor Cell Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology, Application, and End User" report has been added to ResearchAndMarkets.com's offering.
The global circulating tumor cell (CTC) diagnostics market is projected to reach US$ 3,656.38 million by 2028 from US$ 1,909.41 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.
Health systems across the globe are witnessing a substantial increase in the prevalence of cancer. According to the World Health Organization, cancer is the second-leading cause of mortality worldwide. The global cancer burden has increased to 19.3 million cases and 9.96 million cancer deaths by 2020, according to the International Agency for Research on Cancer (IARC).
The analysis and detection of circulating tumor cells assist in early patient diagnosis and prognosis help determine accurate treatment for the patient. The CTC diagnostics are used in various types of cancers, including prostate cancer, breast cancer, colorectal cancer, kidney cancer, lymphomas, lung cancer, and melanoma. There has been a high demand for CTC diagnostics in recent years due to its reliability and accuracy in identifying the risk of various cancers and monitoring different cancer treatments.
Technology Insights
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.
Application Insights
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.
End-User Insights
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.
Market Dynamics
Market Drivers
- Increasing Prevalence of Cancer Globally
- Rising Demand for Minimally Invasive Diagnostic Procedures
Market Restraints
- Rising Dearth of Skilled Professionals Performing Diagnostic Procedures
Market Opportunities
- Untapped Potential of Emerging Economies
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Circulating Tumor Cell (CTC) Diagnostics Market - Market Landscape
5. Circulating Tumor Cell (CTC) Diagnostics Market- Key Market Dynamics
6. Circulating Tumor Cell (CTC) Diagnostics Market- Global Analysis
7. Circulating Tumor Cell (CTC) Diagnostics Market Revenue and Forecasts To 2028 - Technology
8. Circulating Tumor Cell (CTC) Diagnostics Market Revenue and Forecasts To 2028 - Application
9. Circulating Tumor Cell (CTC) Diagnostics Market Revenue and Forecasts To 2028 - End user
10. Global Circulating Tumor Cell (CTC) Diagnostics Market - Geographic Analysis
11. Impact of COVID-19 Pandemic on Global Circulating Tumor Cell (CTC) Diagnostics Market
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- Thermo Fisher Scientific Inc.
- STEMCELL Technologies Inc.
- QIAGEN
- Precision Medicine Group, LLC.
- Advanced Cell Diagnostics, Inc. (BIO-TECHNE CORPORATION)
- Epic Sciences
- ScreenCell
- Ikonisys, Inc.
- IVDiagnostics
- Fluxion Biosciences Inc.
For more information about this report visit https://www.researchandmarkets.com/r/lr0txu
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