According to Stratistics MRC, the Global Circulating Tumor Cells Market is accounted for $4.41 billion in 2015 and is expected to reach $17.96 billion by 2022 growing at a CAGR of 19.2 % from 2015 to 2022.
The rising demand for high Benefit-Cost Ratio (BCR) associated with CTCs prognostic technology is the major factor boosting the market growth. Furthermore, advancements in biomedical imaging and bioengineering technology are some of the key factors driving the market.
However, high cost associated with the diagnosing and reluctance among people towards adopting highly developed prognostic technologies inhibit the market growth.
The recent trends in global Circulating Tumor Cells are strengthening distribution network of CTCs prognostic technologies in emerging economies and the technical advancement of CTCs-based customized medicines.
Tumor cell detection is the foremost product segment primarily due to the advantages related with therapeutic monitoring and high procedure prices.
North America region is expected to witness highest growth rate during the forecast period due to increasing demand in number of research projects.
In addition, the U.S. Government also supports research by funding various institutes, which grant research funds.
Some of the key players in the market include Adnagen AG, Advanced Cell Diagnostics, Apocell, Aviva Biosciences, Biocep Ltd., Biocept Inc., Biofluidica, Canopus Biosciences, CellTraffix Inc., Clearbridge BioMedics, Creatv Microtech Inc., Cynvenio Biosystems Inc. , Epic Biosciences, Fluxion Biosciences., Greiner Bio-One GmbH, Ikonisys Inc., IV Diagnostics Inc., Janssen Diagnostics, Miltenyi Biotech and Nanostring Technologies Inc.
June 2, 2017