Circulating Tumor Cells (CTCs) Prognostic Technologies Market Expected to Reach USD 2.16 Billion Globally in 2020
Transparency Market Research published a new report "Circulating Tumor Cells (CTCs) Prognostic Technologies Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020" to its report store. Browse the full report: http://www.transparencymarketresearch.com/ctcs-prognostic-technologies-market.html
Albany, New York (PRWEB) July 22, 2014
According to a new market report published by Transparency Market Research “Circulating Circulating Tumor Cells (CTCs) Prognostic Technologies Market [Technologies: Tumor Cell Enrichment (Filtration, Centrifugation and Immunological & Immunomagnetic Methods) & Tumor Cell Detection (Molecular Methods and Optical Methods) and Applications: Prostate Cancer, Breast Cancer, Colorectal Cancer and Others] – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” the global circulating tumor cells (CTCs) prognostic technologies market was valued at USD 0.43 billion in 2013 and is expected to grow at a CAGR of 26.3% from 2014 to 2020, to reach an estimated value of USD 2.16 billion in 2020.
Title: Circulating Circulating Tumor Cells (CTCs) Prognostic Technologies Market
Published: June 2014
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Circulating tumor cells (CTCs) are specialized rare cells, that have detached from the primary tumors of the body and disseminated in the vasculature system of the body, eventually causing metastasis. CTCs are composed of particular cells that act as seeds for successive development of additional metastatic tumors in essential distant organs, which is liable for the majority of cancer-related deaths. CTCs are not easily detected since these cells are present in less numbers in the blood stream. Therefore, detection of CTCs during the progression of the tumor provides a prognostic value of the tumor progression as well as evaluates the efficacy of therapeutic intervention.
According to the UICC (Union for International Cancer Control), over the next two decades, globally cancer cases will increase by nearly 75%, reaching almost to 25 million. Additionally, according to the ACS (American Cancer Society), it has been projected that in 2014, approximately 1,665,540 people would be diagnosed with cancer and around 585,720 people would die due to cancer, in the U.S. alone. This escalating base of cancer cases would need next generation prognostic technologies as well as targeted therapeutics for effective diagnosis and treatment of the disease, which would alternatively increase the demand for modern age CTCs prognostic technologies.
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The circulating tumor cells (CTCs) prognostic technologies market has been primarily segmented in terms of technology and applications. The technology market further comprises tumor cell enrichment and tumor cell detection. Moreover, the tumor cell enrichment market is further segmented into filtration, centrifugation and immunomagnetic methods; among which, immunomagnetic methods accounted for the largest market due to widespread commercial availability and high effectiveness. Moreover, the CTCs detection market is further bifurcated into molecular methods and optical methods, among which, the optical methods segment is expected to foresee a remarkable growth rate of over 27.3% from 2014 to 2020. Furthermore, the application segment of this market consists of major application areas such as prostate cancer, breast cancer, colorectal cancer and others (lung cancer, ovarian cancer and pancreatic cancer).
Among the various applications of CTCs prognostic technologies, breast cancer and prostate cancer is expected to witness the fastest growth (27.1% & 25.2% respectively) during the forecast period owing to the high incidence and prevalence rate of these cancers and high adoption rate for CTCs technologies for therapeutic monitoring. However, it is also expected that colorectal cancer as well as other types of cancer will account for an admirable share of the market (24.2 % and 15% respectively in 2013) due to their rising prevalence rate and increasing research and development activities for discovering targeted therapeutics. It is expected that by the year 2020, the market value of CTCs prognostic technologies for application in prostate shall be worth more than USD 684.0 million.
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In terms of geography, North America accounted for the largest CTCs prognostic technologies market in the year 2013 (over 50%) followed by Europe. However, Asia Pacific is estimated to exhibit the fastest growth rate owing to the expected rise in various types of cancer coupled with high research and development initiatives and growing adoption rate for advanced prognostic technologies. This market is highly consolidated in nature characterized by few players occupying approximately 70% of the overall market share. The major players of this market include Epic Sciences, Inc., Fluxion Biosciences, Inc., Silicon Biosystems, S.p.A., Rarecells USA, Inc. and Veridex, LLC.
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