The Global Circulating Tumor Cell Market was valued at USD 9393.1 Million in 2017 and is expected to attain USD 28,399.2 Million by the end of 2023. Factors such as growing prevalence of cancer, increasing research and development activities, advances in biomedical and bioengineering technology and rise in global geriatric population are factors which will shape the global circulating tumor cell market and help it attain a CAGR of 20.32% over the forecast period of 2018-2023.
Global Circulating Tumor Cell market is segmented on the basis of application which includes epithelial-mesenchymal transitions biomarker development, prostate cancer, breast cancer, colorectal cancer and other. On the basis of technology, the market is segmented into tumor cell detection, centrifugation, and tumor cell enrichment and other. The tumor cell detection segment is further sub-segmented into optical methods and molecular methods.
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Circulating Tumor Cell Market – Overview
Circulating tumor cells are cells that have shed into vasculature or lymphatics from a primary tumor and are carried around the body in blood circulation. These cells have seeds which leds to the formation of the other tumours in different organs responsible for causing different types of cancer. The exact cause for this is still a mystery but daily habits like smoking, heavy consumption of alcohol and different chromosomal deficiency may also led to cause cancer. Increasing prevalence of cancer, technological development in diagnosis and treatment of cancer are the major driving factor for the growth of this market. Global circulating tumor cell market is expected to grow at the CAGR of 13.8% during the forecasted period of 2017-2023.
Key Players for Global Circulating Tumor Cell Market
The Global Circulating Tumor Cell Market is a highly competitive one with the presence of a multitude of local as well as regional players. The market players are pouring in money for R&D and are competing based on cost, quality, and reliability. The notable players in the global circulating tumor cell market include Greiner Bio-One International GmbH, Thermo Fisher Scientific, STEMCELL Technologies, Menarini Silicon Biosystems, F. Hoffmann-La Roche Ltd, Fluxion Biosciences, Inc., Ikonisys Inc., SRI International, Miltenyi Biotec, QIAGEN Hannover (QIAGEN), and NanoString Technologies, Inc.
The growth of the market players is dependent on market conditions, government support, and industry development. Thus, major players should focus on expanding geographically and improving their products. They primarily focus on the development of novel products. Although international players are dominating the market, regional players with small market shares also have a presence. International players are likely to strengthen their presence worldwide through acquisitions during the forecast period. It has also been estimated that improvement of the global economic scenario combined with efforts to enhance the infrastructure in emerging nations, is fueling the market growth, thereby making it an ideal time for new products and increase the global market share.
Players with better technical and financial resources can develop innovative products. Therefore, vendors must develop new technologies and stay abreast of emerging technologies that could affect the continuing competitiveness of their treatment lines in the market.
Regional Analysis for Global Circulating Tumor Cell Market
On regional basis, North America has a leading market for circulating tumor cells. According to National Cancer Institute, in 2014 14 million people in North America were suffering from cancer and number of these patients are increasing continuously. It is the major reason for the development of this market in North America. Europe has the second largest circulating tumor cells market which is followed by Asia Pacific. Asia Pacific is the fastest growing region for circulating tumor cells due to huge population base, rapid development in healthcare sector, infrastructure development and many more factors. Middle East and Africa has the least market for circulating tumor cells.
The report for global circulating tumor cell market of Market Research Future comprises of extensive primary research along with the detail analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market’s segments and regions.
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