12.3% CAGR, Circulating Tumor Cells Market to Reflect US$ 9.85 Billion by 2030: Reports Insights

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New York, Feb. 27, 2023 (GLOBE NEWSWIRE) — The Circulating Tumor Cells (CTC) Market is projected to grow at a CAGR of 12.3% from 2023 to 2030, with a value of USD 9.85 Billion by 2030, according to the research report by Reports Insights. The market was valued at USD 3.89 Billion in 2022. The report analyzes the market by segmenting it into different components such as product type, technology, application, end-user, and region. It provides a detailed analysis of the competitive landscape of the market, including key players, their strategies, and market share.

The inclusive market research report on the circulating tumor cells market is offered by Reports Insights Pvt. Ltd.  The research provides an in-depth analysis of macroeconomic statistics such as market dynamics, segmental analysis, SWOT analysis, and others. Several trends and opportunities in major segments such as technology, specimen, product, application, end-user, and region are revealed by the study. The report also focuses on major insights which prove significance to key companies in terms of innovative approaches to strengthen their market position.

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With increased global incidences of cancer, the demand for circulating tumor cells (CTC)-based diagnostics and therapeutics is also estimated to witness a significant increase among diagnostic centers and academic and research institutes.

The development of high-throughput screening and imaging technologies is expected to enable large-scale usage of CTCs detection and analysis with greater sensitivity and specificity in terms of advancements in technology.

Growing demand for customized or tailored medicine is anticipated to boost the sales of CTCs for the identification of tumor-specific biomarkers and the monitoring of treatment response.

Rising awareness about the ability of CTCs to detect cancer at an early stage, even before the onset of symptoms is expected to support the market expansion during the forecast period.

The integration of artificial intelligence (AI) in CTC-based diagnostics is anticipated to offer opportunities for the market players in the healthcare industry. The high demand for AI to improve the accuracy and efficiency of CTC-based diagnostics resulted in offering accurate and personalized cancer treatment.

Circulating Tumor Cells Market Report Coverage:-

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The development of CTC-based liquid biopsy assays is expected to offer opportunities for sustainable growth for the market of circulating tumor cells as liquid biopsy is a non-invasive method of cancer diagnosis and treatment monitoring. Such a method uses biofluids, specifically blood, to detect and analyze cancer biomarkers is anticipated to further boost the demand for CTCs that allow for early cancer detection, personalized treatment, and monitoring of treatment response.

The expansion of CTC-based diagnostics in oncology, including prognostic, predictive, and companion diagnostics is estimated to push forward the market growth during the forecast period. The high demand for CTC-based diagnostics to provide valuable information about cancer biology, treatment response, and disease progression is projected to accelerate market growth.

Collaboration and partnerships by major market players will lead to the development of new CTC-based technologies and therapies, as well as the validation of existing ones by innovations and technological advancements.

In terms of technology, CTC detection and enrichment methods are expected to witness a sudden increase in demand during the forecast period. By analyzing the genetic and molecular characteristics of CTCs, researchers can identify potential targets for new cancer treatments and develop more personalized approaches to cancer therapy with the help of such detection methods.

CTC detection and enrichment methods find major application in the post-treatment of minimal residual disease (MRD) and identification of specific biomarkers or genetic mutations in cancer cells. The main reason for such applications is due to the usage of CTC detection and enrichment methods in cancer research and clinical practice to identify and isolate cancer cells that have detached from the primary tumor and entered the bloodstream.

Key Market Takeaways

• The global circulating tumor cells market size is expected to garner USD 9.85 billion by 2030 and expand at a CAGR of 12.3% during the forecast period (2023-2030).
• Based on technology, the CTC detection and enrichment methods segment contributed the largest market share over 69.7% in 2022.
• By specimen, the blood segment is anticipated to contribute the largest shares of the global circulating tumor cells market by 2030.
• In the context of product, the devices or systems segment is projected to dominate the market statistics during the forecast period.
• Based on application, the research segment is expected to lead the market growth with over 75.6% of the overall market shares.
• By end use, diagnostic centers are expected to support the increased circulating tumor cells market statistics by 2030.
• North America is projected to lead the market growth with excellent revenue shares due to access to astonishing healthcare infrastructure, including treatment facilities and advanced diagnostics.
• With rising expenditures on research and development of new medical technologies by the government, Asia Pacific is also estimated to contribute substantial shares to the market growth over the forecasted period.

Circulating Tumor Cells Market Growth Drivers:

• Increased investments by government and private organizations globally in research and development of CTC-based diagnostics and therapeutics result in the sustainable growth of the market for circulating tumor cells.
• The development of new single-cell analysis technologies such as single-cell RNA sequencing boosts market statistics as the analysis allows for the identification of tumor-specific biomarkers, the monitoring of treatment response, and the development of new cancer therapies.
• Growing usage of CTC-based assays in clinical trials drives the sales of such CTC to evaluate the efficacy of new cancer therapies.

Restraints

• The risks of ethical concerns in terms of patient privacy and informed consent mainly limit the adoption of CTCs for diagnostics and treatments in case of their acceptance and usage in several settings.
• The presence of alternative technologies such as liquid biopsy and next-generation sequencing that offer similar benefits as CTC-based diagnostics restricts the market share of CTC-based products.

Competitive Landscape

According to the Reports Insights, Menarini Silicon Biosystems, Epic Sciences, QIAGEN, Cynvenio Biosystems, and Biocept are expected to be leading market players along with other companies such as Fluxion Biosciences Inc., Miltenyi Biotec, ScreenCell, and Rarecells. The landscape of the circulating tumor cells market is constantly evolving as new companies enter the space and existing players expand their product offerings. There are also a number of academic and research institutions that are working on developing new technologies for the detection and analysis of CTCs, which is expected to potentially disrupt the existing market. Overall, the CTC market is highly competitive and is estimated to continue to grow as liquid biopsy of CTC becomes an increasingly important tool for cancer diagnosis and treatment.

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Recent Developments

• In October 2020, LungLife AI, a leading liquid biopsy technology company for cancer diagnosis and management, announced that they expect to publish clinical data related to a research collaboration on the early detection of lung cancer at the International Association for the Study of Lung Cancer (IASLC) Hot Topic Meeting.
• In February 2021, Bio-Techne Corporation stated that their Exosome Diagnostics brand published a research paper titled “Exosome-based Liquid Biopsies in Cancer: Opportunities and Challenges” in the high-rated peer-reviewed journal Annals of Oncology. The paper provides unique insights into liquid biopsies, including CTC analysis and cfDNA, for cancer diagnosis.
• In December 2021, Rarecells, Inc., a well-known liquid biopsy company specializing in non-invasive tests for early cancer diagnosis, declared that the business secured USD 5 million in funding, bringing the total Series A funding to USD 13 million. The funds will be used to support the launch of clinical operations and a laboratory in the United States which is focused on early detection tests for prostate cancer and acute myeloid leukemia.

List of Major Circulating Tumor Cells Market Players

• Fluxion Biosciences Inc.

• Bio-Techne

• Precision Medicine Group, LLC.

• QIAGEN

• Aviva Systems Biology Corporation

• BIOCEPT, Inc.

• Thermo Fisher Scientific

• Greiner Bio One International GmbH

• Ikonisys Inc.

• Miltenyi Biotec

• IVDiagnostics

• BioFluidica

• Canopus Bioscience Ltd.

• Biolidics Limited

• Creativ MicroTech, Inc.

• LungLife AI, Inc.

• Epic Sciences

• Rarecells Diagnostics

• ScreenCell

• Menarini Silicon Biosystems

• LineaRx, Inc. (Vitatex, Inc.)

• Sysmex Corporation

• STEMCELL Technologies, Inc.

• Cynvenio Biosystems

Global Circulating Tumor Cells Market Segmentation: 

• By Technology
  • CTC Detection And Enrichment Methods
    • Immunocapture  (Label-Based)
      • Negative Enrichment
      • Positive Enrichment
    • Size-Based Separation (Label-Free)
      • Membrane-Based
      • Microfluidic-Based
    • Density-Based Separation (Label-Free)
    • Combined Methods (Label-Free)
    • Others
  • CTC Detection Methods
    • SERS
    • Microscopy
    • Others
  • CTC Analysis
• By Specimen
  • Blood
  • Bone Marrow
  • Other Body Fluids 
• By Product
  • Kits & Reagents
  • Blood Collection Tubes
  • Devices or Systems 
• By Application
  • Clinical/ Liquid Biopsy
    • Risk Assessment
    • Screening and Monitoring
  • Research
    • Cancer Stem Cell & Tumorogenesis Research
    • Drug/Therapy Development
• By End Use
  • Hospital and Clinics
  • Diagnostic Centers
  • Research and Academic Institutes
  • Others

Key Questions Covered in the Circulating Tumor Cells Market Report

What are the factors that drive the growth of market circumstances during the forecast period?

Which region is expected to account for the largest share contribution to the market statistics from 2023-2030?

What is the projected valuation of the circulating tumor cells market in 2030?

Which segment is expected to contribute the largest shares to the market growth from 2023-2030?

What are the market opportunities that will result in the sustainable growth of the circulating tumor cells industry over the forecasted period?

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