Circulating Tumor Cell (CTC) Market Share, Growth and Trends Analysis By Application (Research, Drug Development), Technology (CTC Enrichment, CTC Detection), End-User (Hospital & Clinics, Research & Academic Institutes, Diagnostic Centers) - Global Forecast Till 2027
Circulating tumor cells or CTC are types that break free from the original cancerous site and get spread inside the body using the vascular system. These cancerous cells can be detected as early signs for cancer. The entire process of detection is quite extensive as the chances of finding the right one is quite difficult. However, recent advents in technologies have revealed better chances of prognosis, which can help in the growth of the circulating tumor cells market and ensure surpassing of USD 28,300 million by the end of 2023. Market Research Future (MRFR) discloses several possibilities in the report that can impact the market dynamics of the CTC market.
Various factors like hike in research & development expenditure, better technological growth, various innovations in methods, increasing budget allocation for the healthcare sector, growing impact from the APAC regions, and others are expected to take the global circulating tumor cells market forward.
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The global circulating tumor cell market has several companies making various strategic developments to ensure strong growth for themselves and the market as a whole. These companies are Thermo Fisher Scientific, Epic Lifesciences, Ikonisys Inc., Greiner Bio-One International GmbH, STEMCELL Technologies, SRI International, QIAGEN Hannover (QIAGEN), Miltenyi Biotec, Menarini Silicon Biosystems, Fluxion Biosciences, Inc., F. Hoffmann-La Roche Ltd, NanoString Technologies, Inc, Advanced Cell Diagnostics, Inc. (Bio-Techne Corporation), GE Healthcare, ApoCell, Celltraffix Inc., and others.
MRFR’s take on the global circulating tumor cells market reveals a segmentation on the basis of technology, application, and end-use. These segments can provide a better glimpse of the market factors that can impact the growth chart significantly in the coming years.
Based on the technology, the global circulating tumor cell market can be segmented into CTC enrichment, CTC detection, and combined enrichment & separation of CTC. The CTC enrichment segment has the maximum market hold owing to its ability to reduce the time needed for detection.
Based on the application, the global Circulating Tumor Cell Market comprises research, clinical, and drug development. The clinical segment has over 63% of the global market share and is expected to score USD 18,225.8 million by the end of 2023.
Based on the end use, the CTC market consists research & academic institutes, hospitals & clinics, and diagnostic centers. The hospitals & clinics segment is slated to score past USD 9,184.9 million by the end of 2023.
The global circulating tumor cells market, as per the analysis conducted by MRFR, includes regions namely North America, South America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). This segmental report is expected to bring out various dynamics and demographic challenges for a better assessment of the market in the coming years.
North America and Europe are expected to contribute substantially to this market in terms of revenue generation. North America is expected to lead the global market and it can be well-backed by various technological advancements, hike in the research & development sector expenditure, robust infrastructure, increasing government & private participation, and others. North America is expected to gain traction from countries like the US, Canada, and Mexico, whereas, the European market is expected to bank on the technological brilliance of France, Germany, and the UK. Both these regions are witnessing hike in the number of patients getting admitted for cancer treatment, which can provide market traction.
The APAC market is all set to score well during the forecast period as major companies involved in the process are eyeing for this regional space for better market expansion. The region offers easy access to various types of resources, which can be utilized to their full potential to get a better profit margin.
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