Global Circulating Tumor Cells Market is expected to reach USD 2.28 billion by 2020, according to a new study by Grand View Research, Inc. Growing prevalence of cancer has heightened the need for effective and early diagnosis. Circulating tumor cells cater to this heightened need and are therefore, expected to witness a surge in demand during the forecast period. Majority of cancer deaths are due to circulating tumor cells and an early diagnosis of the same is expected to increase survival rates. Targeted therapy in cancer has large untapped opportunities and therefore, entails extensive R&D investments aimed at new product development. However, high procedure costs and lack of commercialized products are expected to impede market growth during the forecast period.
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Further key findings from the study suggest:
- Tumor cell detection was the leading product segment in 2013 primarily owing to the advantages associated with therapeutic monitoring and high procedure prices. Its market is expected to reach an estimated value of over USD 250.0 million by 2020.
- Molecular technique emerged as the largest tumor cell detection segment in 2013. This technique holds several advantages over optical tumor cell detection technique and therefore, witnesses higher usage rates. Notable advantages of molecular tumor cell detection techniques include higher sensitivity and high-throughput analysis. Moreover, the introduction of new products such as CellSearch by Janssen Pharmaceutical is expected to drive segment growth.
- Tumor cell enrichment is also expected to witness lucrative growth over the next six years. The market is primarily driven by rapidly growing demand for prognostic technologies coupled with the presence of high patient unmet needs.
- Immunological and immunomagnetic techniques associated with tumor cell enrichment were the largest market in 2013, accounting for a share of over 50.0%. It is the most commonly used diagnostic technique and therefore, hold high market penetration rates.
- North America was the most revenue generating market in 2013. Presence of sophisticated healthcare infrastructure, growing prevalence of cancer and relatively larger presence of commercialized products are some factors attributing to its market position.
- The Asia Pacific circulating tumor cells market holds lucrative future growth opportunities. High prevalence of unmet patient needs, constantly improving healthcare infrastructure and increasing healthcare expenditure levels in the emerging markets of India and China are some factors accounting for its market attractiveness.
- Some key players of the circulating tumor cells market include AVIVA BioSciences Corporation, Silicon Biosystems S.p.A, Advanced Cell Diagnostics Inc, Celula Inc., Epic Sciences Inc., AdnaGen AG, Vitatex Inc, Rarecells Inc. and Fluxion Biosciences Inc.
For the purpose of this study, Grand View Research has segmented the global circulating tumor cells market on the basis of technology, application and region:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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