A research study on the global circulating tumor cells (CTCs) prognostic technologies market has been published by Transparency Market Research (TMR), a market intelligence and research firm. The report pegs the overall value of this global market in 2013 at US$0.43 bn.The research report, titled “Circulating Tumor Cells (CTCs) Prognostic Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, further states that the estimated value of the global CTCs prognostic technologies market is expected to reach US$2.16 bn, exhibiting a CAGR of 26.30% between 2014 and 2020.
According to the report, rapidly increasing prevalence of cancer across the world, coupled with significant advancement of therapeutic monitoring, is stimulating the global CTCs prognostic technologies market. The high benefit-cost ratio (BCR) associated with CTCs prognostic technologies has also helped this market to grow extensively.The report, on the other hand, also discusses the challenges, which the global CTCs prognostic technologies market might face such as high cost associated with the diagnosing of CTCs as well as reluctance among people towards adopting highly developed prognostic technologies. However, the strengthening distribution network of CTCs prognostic technologies in emerging economies and the technical advancement of CTCs-based customized medicines are presenting significant growth opportunities for market players, states the report.
Tumor cell enrichment and tumor cell detection are the two main components of the global CTCs prognostic technologies market based on technologies. Immunomagnetic methods, among the sub-segments of tumor cell enrichment market, held the biggest share of the market, thereby emerging as the leader of the market segment in 2013. Among the sub-segments of tumor cell detection market, the market for optical methods is likely to expand at a CAGR of 27.30% during the forecast period, as per the report.
On the basis of application, the market study reports that the breast cancer market and the prostate cancer market are likely to register the fastest growth, i.e. 27.10% and 25.20% respectively over the forecast period.The research report cites North America as the biggest regional CTCs prognostic technologies market across the world. The increasing rate of cancer, together with high uptake of advanced CTCs prognostic technologies, is fuelling the growth of this regional market. However, the market is expected to witness a sluggish growth owing to the dearth of availability of these technologies commercially and the high development cost associated with the technologies.
Contrarily, analysts predict that the CTCs prognostic technologies market in Asia Pacific will exhibit an impressive growth rate on account of the increasing prevalence of cancer, together with rise in the research and development activities in this region, reports the study.Major participants in the global CTCs prognostic technologies market has been profiled in this report in order to analyze the competitive landscape of this industry. AdnaGen, AVIVA Biosciences Corp., Advanced Cell Diagnostics, Celula, Fluxion Biosciences, Epic Sciences, Rarecells USA, Vitatex, Silicon Biosystems, and Veridex are the key companies operating in the global CTCs prognostic technologies market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.