Circulating tumor cells were first noticed in 1869, in the blood stream of a male patient by Thomas Ashworth. Currently, the circulating tumor cells (CTCs) prognostic technologies market is devoted to providing tumor cell enrichment and tumor cell detection. Detecting circulating tumor cells (CTCs) as they are traveling through the blood stream can play a vital role in early diagnosis, characterization of cancer subtypes, metastasis, and treatment monitoring. Clinicians by measuring a patient’s CTC levels can quickly analyze if a certain cancer treatment is effective.
CTCs testing can also help to identify genetic mutations related to a tumor. Many modern cancer medications target certain genetic mutation, so that they work best for limited stages and types of cancer. Circulating tumor cells provide a quick way to help doctors choose the most suitable targeted therapy for a specific patient.
Factors Influencing the Circulating Tumor Cells (CTCs) Prognostic Technologies Market Dynamics
The Union for International Cancer Control (UICC) has stated that over the next two decades, cancer cases around the world will increase by 75% which will reach almost to 25 million cases. Also, the American Cancer Society (ACS) has projected that in the year 2014, around 1,665,540 people would be diagnosed with cancer and approximately 585,720 people would die because of cancer in the U.S.
This increasing base of cancer patients would need the most advanced, next generation prognostic technologies and targeted therapeutics for effective diagnosis and treatment which will boost the development of the circulating tumor cells (CTCs) prognostic technologies market.
Hence, the main element driving the growth of this market is the increasing demand for prognostic and diagnostic technologies combined with the growing incidence and prevalence rates of cancer. Also, colossal application scope of the CTCs prognostic technologies and safety of patients will further fuel the industry’s growth. In addition, prominent cost benefit ratio of these prognostic technologies and extensive use in therapeutic monitoring will also fuel the growth of the industry globally.
However, some of the factors which suppress the growth of the industry are high pricing of the technologies and stiff regulatory policies.
Circulating Tumor Cells (CTCs) Prognostic Technologies Market - Segmentation
The global circulating tumor cells technologies market is segmented on the basis of technologies and application.
According to technology, the CTCs prognostic technologies market is divided into two main segments which are tumor cell enrichment and tumor cell detection. The segment - tumor cell enrichment is further divided into centrifugation, filtration, and immunomagnetic method. On the other hand, tumor cell detection is divided into molecular methods and optical methods.
The applications of CTCs prognostic technologies market can be found majorly for breast cancer, colorectal cancer, and prostate cancer. Apart from these, CTCs prognostic technologies industry also finds its applications in lung cancer, pancreas cancer, and ovarian cancer.
Insights into the Circulating Tumor Cells (CTCs) Prognostic Technologies Market
Geography-wise, the CTCs prognostic technologies market is segmented into Europe, North America, Asia Pacific, and Rest of the World. Some of the top market companies are AdnaGen AG, AVIVA BioSciences Corporation, Epic Sciences, Rarecells USA Inc., S.p.A., LLC and Vitatex, Advanced Cell Diagnostics Inc., Celula Inc., Fluxion Biosciences Inc., and Silicon Biosystems Veridex Inc.
According to a market intelligence firm, the global circulation tumor cells (CTCs) prognostic technologies market will experience a growth of 26.3% CAGR during the forecast period of 2014 to 2020, and will reach a market value of USD 2.16 billion in 2020. The optical methods sector under the segment tumor cell detection will experience a remarkable growth of 27.3% CAGR during the forecast period.
Additionally, breast cancer and prostate cancer application sector will witness a fastest growth at 27.1% CAGR and 25.2% CAGR respectively, during the forecast period. In relation to geography, North America stood out as the largest CTCs prognostic technologies market in the year 2013 by dominating over 50% market share, which was followed by Europe. However, Asia Pacific will experience the fastest growth in the market in the coming few years.