Circulating Tumor Cells Market Size is slated to observe considerable growth from 2021 to 2027 on account of the rising number of cancer cases in the world. The influx of innovations in biomedical imaging and bioengineering processes has stirred the deployment of CTC-based tests. The surging government support, mainly in the U.S. has made way for higher research activities in circulating tumor cells technology. The growing requirement for companion diagnostics and preventive medicines coupled with the mounting focus on effective diagnostic and screening tests will also enhance the industry dynamics.
Circulating tumor cells are primarily a rare subset of cells, that function as a seed for metastases. They are found in the blood of patients that have developed solid tumors. The jump in technological progressions in chip technology is another factor driving the market space.
The CTC enrichment method segment is further bifurcated into positive enrichment, negative enrichment, and other technologies. The industry size from the negative enrichment segment will expand with increasing penetration in diagnostic centers to offer enhanced efficiency in detection. The rising burden of cancer in low and middle-income countries along with the growing preference for positive enrichment methods will boost the segment growth.
The multiple chromosome abnormalities segment in the market will see expansion owing to the rising conditions of aneuploidy. The cruciality of detecting aneuploidy in clinical samples for several diagnostic applications in cancer and the higher obligation for informing the cancer genetics will play a prolific role in the market progression.
The hospitals will rise led by the presence of desired healthcare settings and state-of-the-art facilities. Increasing consumer preference for CTC tests attributed to affordability will foster the industry growth.
North America circulating tumor cells market is anticipated to grow during 2021-2027 due to the increasing prevalence of cancer in the region. According to estimates, approximately 1,898,160 new cancer cases and 608,570 cancer deaths will be recorded in the U.S. in 2021. The mount in initiatives for modern technologies by various research firms has led to several advancements in cancer care infrastructure. The presence of skilled professionals and the higher healthcare expenditure will add a positive edge to the regional expansion.
In terms of competitive dynamics, the global market comprises players such as Menarini Silicon Biosystems, LungLife AI Inc., Creatv Micro Tech, Inc. (Thermo Fisher Scientific), Precision for Medicine (Precision Medicine Group, LLC), Biocept Inc., Miltenyi Biotec (Miltenyi Biotec B.V. & CO. KG), Aviva Biosciences, Qiagen NV, and Advanced Cell Diagnostics Inc.
These firms are constantly resorting to partnership-oriented strategies, such as acquisitions, and are focused on various initiatives, like investments and novel product developments to generate higher revenue sales and enhance their geographical presence.
For instance, in February 2021, Menarini Silicon Biosystems introduced CellMag, its innovative product line that offers manual enrichment as well as staining of rare circulating tumor cells (CTCs). The novelty lets liquid biopsy and CTCs Laboratories have access to manual systems.
In another instance, in November 2019, Biocept launched Target Selector pan-TRK assay, a liquid biopsy-based on the company’s proprietary circulating tumour cell (CTC) platform to detect TRK proteins.
The coronavirus pandemic gave rise to multiple shifts in businesses as well as substantially triggered the global economic landscape. However, the market saw considerable growth impelled by their rising adoption of basic mechanisms to vaccine development with the help of nanotechnology. The growing efforts undertaken by numerous pharmaceutical and biotech companies along with growing government support for the introduction of various vaccines and drugs to treat the virus will positively push the market growth.
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