Industry Outlook

The circulating tumor cells prognostic technologies market is set to reach US$ 22.7 billion by 2029 from US$ 3.4 billion in 2019. The market is expected to expand at an impressive growth rate of 21% during the forecast period of 2021 to 2029. The lockdown due to the spread of covid 19 contained the movement of people and access to healthcare institutes except in case of emergency. This at a broad level limited the number of people visiting diagnostic centers. Similarly elective or planned surgeries were postponed; this led to increase in the patients waiting to be diagnosed and undergo surgery that are not very critical. This impacted the market revenues of CTC prognosis technologies largely.    

CTC Prognosis Technologies - Need of the Hour

A circulating tumor cell (CTC) is a cell that has shed into lymphatics or vasculature from the primary tumor and is carried through blood circulation across the body. As per Cancer Statistics, 2020,” (published in the American Cancer Society's peer-reviewed journal CA: A Cancer Journal for Clinicians) cancer remains the second most reason for death after cardiology disorders. Approximately 1.8 million new cancer cases and 606,502 deaths occurred in the U.S. in 2020. This accumulates to around 1600 cancer deaths each day. As per WHO 70% of cancer related deaths occur in middle and low income countries and this is expected to increase to 85% by 2030. The major cause of cancer death is due to metastasis. The impact of covid 19 was significant on the CTC prognosis technologies market.

Cell Enrichment Technology to Remain the Market Leader

Cell enrichment technology remains the leading technologies for prognosis of CTCs. Key advancements in filtration immunomagnetic methods and centrifugation led to increased efficiency in cancer diagnostic and targeted therapy. Cell enrichment technology saw a greater adoption in biotechnology industries due to its precision and reliability. Cell discovery innovation will encourage significant development during the forecast period of 2021 to 2029 attributable to the introduction of novel and reproducible biotechnology. This will enable isolation of CTCs cluster from unprocessed blood.

CTC Prognosis Technologies – Addressing Issues of Increasing Prevalence of Cancer

As per data from breastcancer.org it is expected that in 2021 1 out of 8 women will acquire invasive breast cancer during their life time. This accounts to about 13% of women. About 43600 women in the U.S. are estimated to die in the year 2021 Breast cancer accounted to about 30% of all newly diagnosed cancers in the U.S. making it the most commonly diagnosed cancer in American women. However, the breast cancer death rate reduced by 1% per year from 2013 to 2018 owing to developing diagnostic technologies that led to early diagnosis of breast cancers. Diagnosis of non-metastatic breast cancer increasingly became effective after development of biomarkers such as CK3-11D5 and HER2. While breast cancers largely affected women, prostate cancer is the second most commonly occurring cancer in men as per World Cancer Research Fund. As per Globocon 2018 about 2,293,818 new cases are estimated to occur until 2040. The incidence rates for prostate cancer increased with age. 1 in 350 men below the age of 50 years are expected to be diagnosed with prostate cancer, while in the age group of 52 to 59, the incidence rates was 1 in 52 men. Above 65 years the incidence further accounted to effecting about 60% of men across the world. One of the reasons for prevalence of prostate cancer is consumption of high-fat food. Therefore, North Americans and Europeans have higher prevalence rate in comparison to other developing countries. Some innovations such as AR-V7 liquid biopsy by Epic Sciences Inc are enabling effective prognosis of patients that acquired metastatic prostate cancer.    

Developed Economies Current Leaders, Developing Economies Promise Potential

North America remains as the largest market contributing over 45% of the market revenues in the year 2019. Additionally the prevalence of cancers is increasing. However, efficient healthcare infrastructure and access to advanced technologies are resulting in early diagnosis. As per JRC report the cancer burden rose to 2.7 million new cases in Europe. In case of breast cancer about 355000 women in EU 27 were diagnosed by breast cancer in the year 2020. However, effective healthcare set up in Europe enables precise prognosis, therefore boosting the market for CTC’s prognostic technologies. Globacon 2020 report stated that Asia held about 9.5 million new cases of cancers that occurred in the year 2020. The total deaths due to cancers were about 5.8 million. There has been increasing prevalence rate of cancer in Asia. The healthcare setup in Asia is emerging and so is the regulatory framework. This limits the access to novel technologies that are expensive to afford to middle and lower income group. Additionally reimbursement systems are not limited and out of pocket expenses are to be incurred by the patients. However, there has been significant focus on research activities and expertise along with government initiatives across Asia is expected to promise significant potential during the forecast period of 2021 to 2029 for CTC prognosis technologies. The key market players includes Celula, Inc., Advanced Cell Diagnostics, Inc., Epic Sciences, Inc., AdnaGen GmbH, Fluxion Biosciences, Inc., AVIVA Biosciences Corporation, Rarecells USA, Inc., Vitatex, Inc., Silicon Biosystems S.p.A., and Veridex, LLC.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Circulating Tumor Cells Prognostic Technologies market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Circulating Tumor Cells Prognostic Technologies market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Circulating Tumor Cells Prognostic Technologies market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Circulating Tumor Cells Prognostic Technologies market?
• Which is the largest regional market for Circulating Tumor Cells Prognostic Technologies market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Circulating Tumor Cells Prognostic Technologies market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Circulating Tumor Cells Prognostic Technologies market worldwide?