Circulating Tumor Cells Prognostic Technologies Market: Business Overview and Global Development Trends
A new market research study, published by Transparency Market Research is titled “Circulating Tumor Cells (CTCs) Prognostic Technologies Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020.” This study provides a detailed analysis of the market, focusing on the current trends, major growth drivers, and barriers.
The product segmentation, major geographical segments, and competitive landscape of the CTCs prognostic technologies market have also been mentioned in the research report. According to the study, in 2013, the global circulating tumor cells prognostic technologies market for was worth US$0.43 bn. The market is projected to register an impressive 26.30% CAGR between 2014 and 2020, reaching a value of US$2.16 bn by the end of 2020.
Circulating tumor cells refer to specialized rare cells that are separated from the primary tumors, which further spread in the vasculature system of the human body. The dissemination of these cells further causes metastasis. CTCs act as a seed for the development of metastatic tumors in the vital distant organs; these tumors are considered as a major cause for cancer-related deaths. Technological developments in this field are one of the major factors contributing substantially towards the growth of the market.
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Furthermore, the growing prevalence rate of cancer, increasing evaluation of therapeutic monitoring, and high cost-benefit ratio are some of the other factors propelling the global CTCs prognostic technologies market. However, the lack of sensitivity and specificity and high costing associated with CTCs detection are projected to curtail the growth of the market in the coming years.
By application, the global CTCs prognostic technologies market has been classified into prostate cancer, colorectal cancer, breast cancer, and others. The others segment has been sub-classified into ovarian, pancreatic, and lung cancer. Among these, the prostate cancer segment is anticipated to exhibit a progressive 25.20% CAGR between 2014 and 2020. On the other hand, the breast cancer segment is estimated to register an impressive 27.10% CAGR between 2014 and 2020.
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By geography, the global CTCs prognostic technologies market has been broadly divided into Europe, Asia Pacific, North America, and Rest of the World. At present, North America accounts for the largest share in the global CTCs prognostic technologies market and is anticipated to remain in this position in the next few years.
The rapid growth of this region can be attributed to the growing adoption rate for advanced prognostic technologies and rising incidence of cancer across the globe. Nevertheless, the high development cost and low commercial viability of these technologies are some of the key factors leading to sluggish growth of the market.
Furthermore, the Asia Pacific market for CTCs prognostic technologies is projected to witness substantial growth throughout the forecast period, owing to the increasing research and development activities in this region.
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The leading players operating in the global circulating tumor cells prognostic technologies market include Vitatex, Inc., Rarecells USA, Inc., Fluxion Biosciences, Inc., AdnaGen GmbH, Advanced Cell Diagnostics, Inc., Epic Sciences, Inc., Celula, Inc., AVIVA Biosciences Corporation, Veridex, LLC, and Silicon Biosystems, S.p.A. To provide a clear understanding of the market, the research study has mentioned the company profiles, contact information, financial status, business strategies, SWOT analysis, and recent news and developments, if any.
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