LONDON, May 04, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the circulating tumor cells market forecasts the global market size for circulating tumor cells to increase from $9.5 billion in 2022 to $10.7 billion in 2023, with a compound annual growth rate (CAGR) of more than 12%. The market size is then expected to grow to $16.7 billion in 2027, at a CAGR of more than 11%, due to the rising incidence of cancer.
Cancer is a disease characterized by uncontrolled cell growth and spreading to other body parts. The growing incidence of cancer is fueling the market growth of circulating tumour cells, as they aid in the early detection and diagnosis of cancer. In 2020, the World Health Organization reported 19.29 million new cancer cases, with an estimated 50.55 million cases in the next five years. North America is the largest market for circulating tumor cells in 2022.
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Product innovations are the key trend that is popular in the circulating tumor cells market. Leading companies like Precision Medicine Group LLC, Bio-Techne Corporation, BIOCEPT Inc., Creativ MicroTech Inc., Fluxion Biosciences Inc., Ikonisys Inc., Qiagen N.V., ScreenCell, STEMCELL Technologies Inc., Sysmex Corporation, Aviva Biosciences Corporation, LungLife AI Inc. are investing in research and development to create innovative products and strengthen their position in the market.
For example, Menarini Silicon Biosystems launched the CellMag CTC Epithelial Cell kit in February 2021, which employs ferrofluid technology to simplify the manual immuno-magnetic enrichment and staining of rare CTCs. Agilent Technologies also acquired Resolution Bioscience Inc. in April 2021 to broaden and strengthen its cancer diagnostics capabilities.
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The global circulating tumor cells market is segmented -
1) By Product: Kits and Reagents, Blood Collection Tubes, Devices Or Systems
2) By Technology: CTC Enrichment, CTC Detection, CTC Analysis
3) By Specimen: Blood, Bone Marrow, Other Body Fluids
4) By Application: Clinical or Liquid Biopsy, Research
This circulating tumor cells market report highlights the significant potential of the industry and provides a comprehensive analysis of the current market scenario. As the market continues to evolve, the circulating tumor cells market report highlights player adopted and trend-based strategies that competitors can adopt to develop innovative products and expand their market reach.
Circulating Tumor Cells Global Market Report 2023 by The Business Research Company provides insights on the circulating tumor cells market size, circulating tumor cells market segments, circulating tumor cells market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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