Albany, NY -- (SBWIRE) -- 11/07/2018 -- Global circulating Tumor Cells Market: Snapshot
The global circulating tumor cells prognostic technologies market are rising in demand due to increasing demand for diagnostic technologies. This rise in demand for these technologies are primarily due to prevalence rate of cancer. Huge application scope of these technologies are dependent on safety of patients. Substantial Rise in therapeutic monitoring is rising the demand for the market. Increased death rates due to development of metastases and hematogenous dissemination of cancer is also boosting the need for detection of circulating tumor cells.
Novel technologies for detection of circulating tumor cells are rising in demand due to many clinical trials including them as their secondary end points and in their translation research programs. The global market is expecting wider implementation possibilities of circulating tumor cells prognostic technologies in the coming years due to increasing rate of research and development activities conducted for developing personalized medicines.
According to a report by Transparency Market Research, the global circulating tumor cells prognostic technologies market is anticipated to rise at a tremendous CAGR of 26.30% during the forecast period of 2014 to 2020. The global market value is expected to attain a valuation of US$2.16 bn by the end of the forecast period.
Rise in Breast Cancer to Supplement Application of Technology with CAGR of 27.10% by 2020
The global circulating tumor cells prognostic technologies market have been segmented according to technology and applications. Technology segment is further sub segmented into tumor cell enrichment and tumor cell detection. The tumor cell detection segment is further bifurcated into molecular method and optical method. Among these, optical method segment is anticipated to rise at a rising CAGR of 27.30% during the forecast period of 2014 to 2020. The tumor cell enrichment is further sub segmented into immunomagnetic method and immunological method, centrifugation, and filtration. Among these sub segments, immunomagnetic method will account for the largest share in the tumor cell enrichment segment.
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The global circulating tumor cells prognostic technologies by application is segmented into prostate cancer, breast cancer, colorectal cancer, pancreatic cancer, lung cancer, and ovarian cancer. Among these sub segments, prostate cancer is expected to rise at a significant CAGR of 25.20% during forecast period whereas, the breast cancer segment is anticipated to reach 27.10% CAGR by the end of 2020. Rise in breast cancer is accounting for a significant share in the market and is expected to rise in the coming years.
Increasing Prognostic Technologies to Boost North America Market
The global circulating tumor cells prognostic technologies market is spread across various regions such as North America, Asia pacific, Europe, and the rest of the world. Among these, North America is holding the largest shares in the market due to increased incidence and prevalence of cancer. The market in this region is also dominating the market due to increased adoption rate of advanced prognostic technologies. North America has disposable income that people are willing to spend on healthcare thus, it boosts the market in this region. Government's extensive support for research and development in this region is supplementing the market growth of North America.
Similarly, Asia Pacific is also experiencing significant growth rate in the market. This region is experiencing steady growth in the market due to rise in various types of cancers among the people. The key players and government of various countries in this region is encouraging research and development activities to produce better technologies. Innovations have led to increased adoption rate of advanced therapeutic monitoring technologies in this region. Rise in population has resulted in rise of different types of cancer. Emerging economies in this region are showing potential rise in advancement and implication of the technologies.
Some of the key players operating in the circulating tumor cells prognostic technologies market are Epic Science, Silicon Biosystems, Vitatex, Veridex, and AVIVA Biosciences Corp.