Circulating Tumor Cell (CTC) Diagnostics Market is expected to reach US$ 1,909.41 million by 2028
Research Segment to Hold Largest Share of Circulating Tumor Cell (CTC) Diagnostics Market During 2021-2028
According to our latest study on "Circulating Tumor Cell (CTC) Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Technology, Application, and End-User," the market is projected to reach US$ 3,656.38 million by 2028 from US$ 1,909.41 million in 2021; it is expected to grow at a CAGR of 9.7% from 2021 to 2028. The report highlights the key factors driving the market growth and competitive landscape prevalent in the market.
Market Segmentation
The CTC diagnostics market is categorized by technology, application, end user, and geography. The technology segment includes CTC detection and enrichment method, CTC direct detection method, and CTC analysis. In 2021, the CTC detection and enrichment method segment had the largest market share, and it is expected to achieve the highest Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period. The CTC detection and enrichment method segment had the largest market share in the CTC diagnostics market due to several factors. This method is widely used for isolating and detecting CTCs, which are present in low concentrations in the bloodstream. The detection and enrichment method offers advantages such as high sensitivity, high specificity, and low cost compared to other methods. In addition, the development of new technologies and the increasing demand for non-invasive cancer diagnostics have also contributed to the growth of this segment. These factors have collectively contributed to the CTC detection and enrichment method segment being the largest market segment in the CTC diagnostics market.
The application segment is divided into clinical/liquid biopsy and research, with the former sub-segmented into risk assessment, screening, and monitoring, and the latter sub-segmented into cancer stem cell and tumorigenesis, and drug/therapy development. The CTC diagnostics market is divided by end user into hospitals and clinics, research and academic institutes, and diagnostic centers. Geographically, the market is segmented into North America (including the US, Canada, and Mexico), Europe (including the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (including China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (including the UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South and Central America (including Brazil, Argentina, and the Rest of South and Central America).
Key Companies
Thermo Fisher Scientific; Stemcell Technologies, Inc; QIAGEN; Precision Medicine Group, LLC; Advanced Cell Diagnostics (Bio-Techne Corporation); Epic Lifesciences; Screencell; Ikonisys, Inc; IV Diagnostics; and Fluxion Biosciences are among key companies present in the circulating tumor cell (CTC) diagnostics market.
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