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Research analysis on the global circulating tumor cell (CTC) diagnostics market identifies the rising demand for CTC diagnostics for personalized cancer treatment will be one of the major factors that will have a positive impact on the market's growth in the coming years. CTC-based diagnostic test is a regular blood test for tumor analysis. The demand for CTC-based diagnostics is increasing because it offers faster diagnosis and the analyzers have a user-friendly interface. With the increasing preference for polymerase chain reaction (PCR)-based identification methods which is considered as one of the most effective and sensitive methods for CTC genetic profiling, the demand for CTC diagnostics will increase in the coming years. Technavio's market research analysts predict that this market will grow at a CAGR of more than 9% by 2021.
The evolution of advanced detection technologies will be one of the latest trends that will gain traction in the CTC diagnostics market during the next four years. Diagnostic imaging technology has introduced molecular imaging technique for the detection of cancerous cells. This has proved to be beneficial in the analysis of denser tissues in patients. The introduction of liquid biopsy for CTCs has helped in the diagnosis of cancer. Additionally, personalized medicine also has high demand in the oncology therapeutic area since it helps in enhanced patient management and enables individualized treatment through diagnostic tests for real-time and rapid results.
With the presence of major large vendors, the CTC diagnostics market appears to be highly competitive. Vendors in ths marketspace are focusing on following M&A activities to venture into the regional markets. The growing demand for faster diagnosis and innovation in CTC technology will offer significant growth opportunities for the vendors. Moreover, the market will also witness the emergence of new players.
The leading vendors in the market are -
The other prominent vendors in the market are Advanced Cell Diagnostics, BioCep, BIOCEPT, BioFluidica, Celltraffix, Clearbridge Biomedics, Creatv MicroTech, Cynvenio, Epic Sciences, Fluxion Biosciences, Gilupi, Ikonisys, IVDiagnostics, and ScreenCell.
During 2016, the hospitals and clinics segment accounted for the major shares of this market. The increasing number of cancer cases will be a majo factor boosting the market's growth prospects in this segment since hospitals are the primary source of treatment and diagnosis. Suppliers and vendors are focusing on forming alliances to supply diagnostic kits and consumables to hospitals. Moreover, hospitals with sufficient budget are also providing long-term contracts to vendors and suppliers.
This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market by 2021. The increase in patient awareness and the presence of sophisticated healthcare infrastructure are the major factors contributing to the market's growth in this region. Additionally, the market's growth in this region is also influenced by the presence of Tier-1 companies and the rising incidence of chronic diseases.
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The increasing incidences of chronic oncology diseases and application of CTC as biomarkers for drug discovery is a promising factor for the growth of global circulating tumor cell diagnostics market. This forthcoming report on global circulating tumor cell diagnostics market offers deep insights into the healthcare and life sciences industry in terms of market segmentation, market share and size, and industry analysis. Our forthcoming report for the healthcare and life sciences industry focuses on major segments like in-vitro diagnostics.
This industry report on global circulating tumor cell diagnostics market covers vendors like Menarini Silicon Biosystems, Apocell, and Clearbridge Biomedics, to offer a holistic overview of the market for the estimated period of 2017-2021. Moreover, this report also covers geographies like the Americas, APAC, and EMEA to help the clients formulate effective strategies and expand in niche markets.
Our market research experts at Technavio follow a blended research methodology comprising of primary and secondary research methods and assess the market on the major trends, prominent drivers, and challenges pushing the growth for the specialty chemicals segment. This report on the global circulating tumor cell diagnostics market also considers the growth of associated markets like genomics biomarkers market, which is expected to post an impressive CAGR of close to 18% by 2021. The upcoming industry report on the global circulating tumor cell diagnostics market also offers insights into rapidly growing segments within the healthcare and life sciences industry, encompassing sectors like cardiovascular and metabolic disorders.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-user
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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