Global Circulating Tumor Cell (CTC) Diagnostics Market
Number of pages: 100 | Report Format: PDF | Published date: February 17, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 9.4 billion |
|
Revenue Forecast in 2030 |
US$ 23.85 billion |
|
CAGR |
10.9% |
|
Base Year For Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Product, Technology, Application, Specimen, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study conducted by Growth Plus Reports, the global circulating tumor cell (CTC) diagnostics market was valued at US$ 9.4 billion in 2021 and is expected to register a revenue CAGR of 10.9% to reach US$ 23.85 billion by 2030.
Circulating Tumor Cell (CTC) Diagnostics Market Fundamentals
Circulating tumor cells (CTCs) are cancer cells that escape from the main tumor and spread throughout the body through the peripheral blood circulation system. Through liquid biopsy, sensitive CTC detection from clinical samples can be a useful tool for determining the prognosis and diagnosis of cancer. Conventional CTC detection technologies rely mostly on biomarker-mediated platforms, such as magnetic beads, microfluidic chips, or size-sensitive microfiltration. The surface-charged superparamagnetic nanoprobe, which can capture various EMT subpopulation CTCs from clinical blood, has recently been developed as a more sensitive, biomarker-independent CTCs isolation approach.
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Circulating Tumor Cell (CTC) Diagnostics Market Dynamics
The rise in the prevalence of cancer worldwide and increase in the application of CTC in cancer detection are the major driving factor of the Circulating tumor cell (CTC) diagnostics market. Moreover, rise in the availability of minimally invasive and precise CTC detection technology is increasing the demand for CTC detection technologies in cancer detection. The growing adoption of advanced technologies, including chip technology, is boosting the revenue growth in the circulating tumor cell (CTC) diagnostics market. Additionally, there is rise in demand for early cancer detection and increased geriatric population, which is more prone to cancer. The high usage of companion diagnostics in evaluating tumor elimination features of cytotoxic therapies is propelling the circulating tumor cell (CTC) diagnostics market growth. Furthermore, rise in the focus of major players toward increasing investments to develop novel CTC-based testing technologies is also expected to fuel the revenue growth of the circulating tumor cell (CTC) diagnostics market.
However, the high cost associated with the equipment used in CTC diagnostics technology is the major restricting factor of the circulating tumor cell (CTC) diagnostics market. Similarly, stringent regulatory frameworks and lack of awareness in developing countries are also hindering the revenue growth of the circulating tumor cell (CTC) diagnostics market.
Circulating Tumor Cell (CTC) Diagnostics Market Ecosystem
The global circulating tumor cell (CTC) diagnostics market has been analyzed from five perspectives: product, technology, application, specimen, and region.
Circulating Tumor Cell (CTC) Diagnostics Market by Product
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Based on product, the global circulating tumor cell (CTC) diagnostics market is segmented into kits & reagents, devices or systems, and accessories.
The devices or system segment accounted for the largest revenue share of the circulating tumor cell (CTC) diagnostics market in 2021. The substantial share of the segment is attributed to the presence of a robust product portfolio. Moreover, the increased utilization of advanced technologies, including microchip-based high-throughput micro sampling unit (HTMSU), which is a microfluidic tool that isolates CTCs from the blood by targeting certain protein molecules with surface-immobilized monoclonal antibodies, fuels revenue growth in the segment. Additionally, manufactured glass microchips have been introduced in recent years to improve technological accuracy for mass production. These factors are anticipated to play a significant role in the segment revenue growth.
Circulating Tumor Cell (CTC) Diagnostics Market by Technology
Based on technology, the global circulating tumor cell (CTC) diagnostics market is segmented into CTC detection & enrichment methods and CTC direct detection methods.
The CTC detection & enrichment methods segment dominated the circulating tumor cell (CTC) diagnostics market with the prominent revenue share in 2021. The CTC detection & enrichment methods segment is further sub-segmented into immunocapture (label-based), size-based separation (label-free), density-based separation (label-free), and combined methods. The presence of various enrichment methods for CTCs in the detection of cancer is the key factor driving segmental growth. Moreover, clinically effective translation of the sector is ensured by an efficient enrichment procedure that improves sensitivity, selectivity, and yield. Centrifugal force, filtration, and other physical characteristics, such as size, density, deformity, and electric charges, are a few examples of different detecting methods. Additionally, the increased demand for positive or negative enrichment of CTCs depending on biological characteristics is boosting segment revenue growth.
Circulating Tumor Cell (CTC) Diagnostics Market by Application
Based on application, the global circulating tumor cell (CTC) diagnostics market is segmented into research and clinical/ liquid biopsy.
The research segment accounted for a significant revenue share of the circulating tumor cell (CTC) diagnostics market in 2021. The research segment is further sub-segmented into cancer stem cell & tumorigenesis research and drug/therapy development. The large revenue share of the segment is largely attributed to increasing demand for novel drugs for cancer, as it is the second most common cause of death worldwide. Characterization of CTCs is still mostly a research technique. Additionally, the focus has switched to characterizing and isolating circulating tumor cells, which can present important prospects for predictive testing studies, which is propelling the segment’s revenue growth.
Circulating Tumor Cell (CTC) Diagnostics Market by Specimen
Based on specimen, the global circulating tumor cell (CTC) diagnostics market is segmented into blood, bone marrow, and other body fluids.
The blood specimen segments accounted for the prominent revenue share of the circulating tumor cell (CTC) diagnostics market in 2021. This is attributed to the presence of the tumor cell in large proportion in the blood compared to other specimens. Moreover, current cancer research places a high value on methods for identifying tumor cells in blood samples as they help with prognosis prediction and systemic treatment response assessment, thus boosting the segment’s revenue growth.
Circulating Tumor Cell (CTC) Diagnostics Market by Region
Based on the region, the global circulating tumor cell (CTC) diagnostics market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America dominated the global circulating tumor cell (CTC) diagnostics market in 2021, followed by Europe and Asia Pacific. North America accounts for a prominent share of the market due to the rising prevalence of cancer in the region with growing demand for Novel treatment for cancer. Moreover, the presence of advanced technology with a well-developed healthcare infrastructure is also playing a significant role in regional revenue growth. Similarly, the presence of the major players and continuous initiatives by government organizations in the region to spread awareness regarding cancer detection and treatment are anticipated to propel regional revenue growth.
Circulating Tumor Cell (CTC) Diagnostics Market Competitive Landscape
The prominent players operating in the circulating tumor cell (CTC) diagnostics market are:
Circulating Tumor Cell (CTC) Diagnostics Market Strategic Developments
Circulating tumor cells (CTCs) are cancer cells that escape from the main tumor and spread throughout the body via the peripheral blood circulation system. Through liquid biopsy, sensitive CTC detection from clinical samples can be a useful tool for determining the prognosis and diagnosis of cancer.
North America accounts for the largest revenue share, followed by Europe; Asia Pacific is the fastest-growing regional market for circulating tumor cell (CTC) diagnostics.
QIAGEN N.V., Menarini Silicon Biosystems, BIOCEPT, Inc., Aviva Biosciences, and Bio-Techne Corporation are among the top market players.
The CTC detection & enrichment methods segment accounts for the largest revenue share of the market.
The circulating tumor cell (CTC) diagnostics market is expected to be valued at 23.85 billion by 2030.
*Insights on financial performance are subject to the availability of information in the public domain