(PharmaNewsWire.Com, October 12, 2022 ) According to Precision Business Insights (PBI), the latest report circulating tumor cells market size was valued at USD 9.4 billion in 2021 and is expected to expand at a CAGR of 11.7% over the forecast period 2022-28. Circulating Tumor Cell (CTC) Testing Market is a type of medical technology that is used to detect cancer cells in the blood. These cells are formed when the body's immune system attacks cancerous cells in the body. The main purpose of this market is to identify the presence of cancer early before it can spread to other parts of the body.
The Circulating Tumor Cell (CTC) Testing Market Growth Factors
The growth factors that are driving this market include the increasing number of people getting diagnosed with cancer, the increasing prevalence of cancer among women, and the rising number of deaths due to cancer every year. Other factors that are expected to increase in this market include the increasing number of companies offering CTC testing services, high demand for CTC testing services, development and introduction of new technologies in this field, and growing need for data analysis related to CTC testing services.
• The major driving factors for the growth of this market include the increasing incidence of rare cancer, the increasing number of patients diagnosed with cancer, and advancements in diagnostic methods.
• The Circulating Tumor Cell (CTC) Testing market has experienced growth over the past few years due to various factors such as the s increasing prevalence of cancer worldwide and rising investment in research and development activities by leading pharmaceutical companies.
The Circulating Tumor Cell (CTC) Market Segmentation
The Circulating Tumor Cell (CTC) Testing Market on the basis of Technology, the market is fragmented into CTC detection (Functional in-vitro cell invasion assay, Molecular (RNA) based technologies, Xenotransplantation models, Immunocytochemical technologies, EPISPOT functional in-vitro cell culture), (CTC Enrichment (Microchips, In-vivo positive selection, Single spiral micro channel, Ex-vivo positive selection, Negative selection), CTC Analysis). Based on Application, the market is categorized into EMT biomarkers development, Cancer stem cell research, Tumorigenesis research, and Others. Based on End-user, the market is divided into Diagnostic Centers, Hospitals, and Ambulatory Surgical Centers.
The Circulating Tumor Cell (CTC) Market Regional Analysis
Due to significant unmet diagnostic needs and fast-rising patient knowledge of early cancer detection and risk assessment, Asia Pacific is predicted to expand at a profitable rate. Circulating tumor cells (CTCs) were the most popular product in North America in 2020, with a market share of 50.3%. Additionally, a population with a high risk of developing cancer, rising market penetration rates, and an infrastructure for cancer care that is technologically advanced are some of the main factors contributing to its significant share.
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