Global circulating tumor cells market is anticipated to reach USD 11,552.3 million by 2022, according to a new report by Grand View Research, Inc. Rising developments in the field of biomedical engineering and biomedical imaging coupled with rise in patented research initiatives by the government is expected to drive this industry through the forecast period.
Introduction of novel technologies for enumeration of circulating tumor cells is anticipated to fuel growth in this sector through to 2022. Furthermore, increasing incidences of chronic oncology diseases that depend on the detection and analysis of CTCs, as it has enormous potential in the real-time monitoring of cancer therapy, over the conventional methods such as imaging technologies and tumor tissue biopsy.
Additionally, application of CTC as biomarkers for drug discovery is a promising factor for growth in the coming years. Utilization of the circulating tumor cells in development of tumor specific biomarkers in order to optimize the selection of targeted therapies and assessment of better response to the therapy is expected to support in the projected growth of CTC market in the coming years.
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Further key findings from the study suggest:
- CTC enrichment accounted for the largest share of market revenue in 2014 and is expected to continue this dominance owing to high usage rates in oncology research establishments and high accuracy exhibited by this technology.
- Microchips technology is anticipated to register substantial growth in the next seven years because of the introduction of cluster chip technology that enables capture of clusters of tumor cells for CTC quantitation.
- Characteristic property of the cancer stem cells of self-renewal in replenishing the growing cancer is driving the attention of organizations and researchers in CTC cancer stem cell research segment thus accounting for the segment’s large share in revenue generation.
- Application of alterations witnessed in the expression profiles of EMT-associated transcriptional regulators and their molecular targets as biomarkers in EMT study is expected to serve as an impetus for diagnosis of tumour recurrence consequently driving the segment with a double digit CAGR of over 10%.
- North America dominated the market in 2014, with revenue estimation that accounted for over 45% of the global market. Presence of strong oncology research funding, refined healthcare infrastructure, growing incidence of cancer, favorable government initiatives with respect to R&D funding for clinical diagnostic products are factors attributive for larger revenue share.
- Asia Pacific is anticipated to witness lucrative CAGR of over 16% as a result of infrastructure development in care centers coupled with increase in sales of CTC diagnostic tests. The need of new diagnosis methods for the growing cancer cases has gushed up research on new developments in developing economies of this region thus providing potential avenues for market growth.
- Key participants of CTC industry include Canopus Biosciences, Clearbridge BioMedics, Fluxion Biosciences, Janssen Diagnostics, Adnagen, Advanced Cell Diagnostics, Apocell, Vitatex Inc., Miltenyi Biotech Cynvenio Biosystems, Aviva Biosciences, Biocept Inc., Biofluidica, Creatv Microtech Inc., Ikonisys Inc., Epic Biosciences, Biocep Ltd., Greiner Bio-one GmbH, Sysmex Corporation, and CellTraffix Inc.
- These market entities are involved in collaborations with hospitals and university based research institutes in order to gain access to target population and develop novel technologies for CTC enrichment & detection.
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