The growth of the circulating tumor cells (CTC) market is influenced by the increasing mortality rate due to cancer, several types of genetic disorders, drastic changes in lifestyle, an increase in smoking-causing disorders, and a rise in consumption of alcohol. Moreover, developments in bioengineering technologies, biomedical imaging, and the rise in demand for preventive medications for different types of cancers are also stimulating the market growth of circulating tumor cells. However, the factors restraining the market growth comprise the significant cost of detection techniques, scarcity of specific biomarkers for the detection of CTCs, reluctance in the adoption of new technologies, and other technical limits.
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The increasing focus of the market players for the introduction of companion diagnostics for cancer and other disorders and the increase in demand for research projects on cancer are a few trends in the circulating tumor cells industry. The circulating tumor cells market is categorized based on technology, application, and geography. Based on technology, the market is divided into CTC Detection, CTC Enrichment, and CTC Analysis. CTC enrichment segment is expected to lead the market owing to high efficiency due to increased functionalities.
Based on application, the circulating tumor cells (CTC) industry is divided into tumorigenesis research, cancer stem cell research, EMT biomarkers development, and others.EMT biomarkers development segment is predicted to hold the maximum share of the market due to advancements in technology. In terms of end-user, the circulating tumor cells (CTC) market is bifurcated into research & academic institutes, hospitals & clinics, and diagnostic centers. The hospitals and clinics segment is expected to hold a larger share of the market due to the increasing preference for efficient treatment offered at hospitals.
Geographically, the CTC industry is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America, followed by Europe accounted for the larger share of the market due to a large number of market players and mature healthcare infrastructure. Asia-Pacific is also expected to grow considerably in the coming years due to increasing investment and growing technological advancements in the domain.
The prominent players in the circulating tumor cells industry include ApoCell, Advanced Cell Diagnostics, Inc, ClearbridgeBiomedicsPte Ltd, Aviva Biosciences, CynvenioBiosystems, Inc, BioceptInc, MiltenyiBiotec, Menarini Silicon Biosystems, Qiagen, and CreatvMicrotech Inc.
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