The circulating tumor cells (CTC) market is expected to register a CAGR of 9.5% during the forecast period. The major factors for the growth of the circulating tumor cells (CTC) market include the advancements in biomedical imaging and bioengineering technology, rising demand for preventive medicine and companion diagnostics, and growing prevalence of cancer.
The global cancer burden is increasing, and thus, cancer therapies must be modified according to regional and national priorities. According to the World Cancer Research Fund, in 2018, there were 18 million cancer cases around the world, out of which, 9.5 million cases were in men and 8.5 million in women. Lung and breast cancers were the most common and contributed about 12.3% of the total number of new cases that were diagnosed in 2018. Almost half of the cancer prevalence occurs in Asia, and in Europe, one-quarter of the population is suffering from cancer. In the Americas, 21% of the population is suffering from cancer. The increasing cancer burden is due to a number of factors, including population growth and aging and the changing prevalence of certain causes of cancer linked to social and economic development.
According to the Globocan Database, in 2018, it was estimated that the number of new cases would grow from 18.1 million to 29.4 million, between 2018 and 2040. Thus, the increasing prevalence of cancer is one of the major factors that are augmenting the growth of the market.
Key Market Trends
The Negative Enrichment Segment is is Expected to Hold a Major Market Share in the Circulating Tumor Cells (CTC) Market
In the case of the positive enrichment method, it cannot isolate CTCs depending on heterogeneous properties, but negative enrichment method can isolate heterogeneous and intact CTCs by specifically eliminating blood cells. The rising prevalence of the various types of cancer is expected to drive the overall growth of the market.
According to the WHO, in 2018, approximately 70% of the deaths in low- and middle-income countries were due to cancer. With this growing burden, prevention of cancer is one of the most significant challenges. The analysis of circulating tumor cells is a significant aspect for monitoring disease progression or response to treatment, specifically as a companion diagnostic for new anticancer drugs, and for research into the mechanisms of disease progression.
In addition, negative enrichment has advantages over positive enrichment in isolating CTCs, owing to which the segment is expected to witness high growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
In 2018, as per the American Cancer Society, more than 15.5% of Americans had a history of cancer, of which a majority had been diagnosed in the past two years. A number of new cases are being reported, with about 1.7 million new cases being reported in 2018. Based on healthcare expenditure, the United States is among the major countries across the world, which spends about 17.1% of its total GDP on healthcare. The expenditure for cancer patients is more in breast, lung, and colon and rectum cancers.
The United States has one of the highly successful products, CellSearch Circulating Tumor Cell Kit, which was approved by the US Food and Drug Administration (FDA). The product has reimbursement facility through various public and private payers in several states of the country, such as Cigna Government Services, Noridian, and United HealthCare, among others. Several universities across the United States, have relied on CTCs applications to advance the practice of pathology and laboratory medicine. Thus, owing to the all aforementioned factors, the market studied is expected to witness high growth over the forecast period.
The market studied is a moderately consolidated market, owing to the presence of small and large market players. Some of the market players are Advanced Cell Diagnostics Inc., Aviva Biosciences, Biocept Inc., Creatv Micro Tech, Inc., LungLife AI Inc., Menarini Silicon Biosystems, Miltenyi Biotec, Precision For Medicine (Formerly ApoCell), and Qiagen NV.
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