The global market for circulating tumor cell technologies grow to nearly $8.9 billion by 2018.
Wellesley, MA (PRWEB) January 30, 2014
According to a new technical market research report Circulating Tumor Cell (CTC) Diagnostics: Technologies and Global Markets, from BCC Research (http://www.bccresearch.com), the global market for circulating tumor cell technologies was valued at nearly $2.8 billion in 2012 and $3.7 billion in 2013. BCC Research projects the market to grow to nearly $8.9 billion by 2018, and register a five-year compound annual growth rate of 18.9% from 2013 to 2018.
Circulating tumor cells are cancer cells that separate from the primary tumor and circulate in the peripheral blood, with the potential for growth of additional tumors (metastasis) in distant vital organs. Significant progress is being made in the development of technologies for the detection, characterization, and analysis of these cells. In fact, CTC technologies remain one of the most promising areas of cancer research for guiding patient treatment and predicting cancer progression.
Currently used detection methods lack sensitivity or specificity to track all circulating tumor cells, particularly the ones that have lost characteristic epithelial features. In addition to advantages such as high sensitivity and specificity, CTC technologies offer reproducible, repeatable, and non-invasive diagnostic assays for guiding treatment decision and improved patient triage.
The rising prevalence of diseases like cancer and the reimbursement support by regulatory bodies in developed regions such as the United States and Europe are the major factors driving the growth of the CTCs market. Increasing R&D spending, technological advancements, and rising numbers of cancer patients will also drive tremendous growth for the foreseeable future.
This report from BCC Research focuses on circulating tumor cell testing and monitoring methods, and includes an overview on cancer, diagnostic strategies, and treatment technologies. Important trends in the field of cancer research and development are reviewed and sales forecasts by treatment and screening categories are provided from 2013 through 2018. Issues and trends addressed in this report are based on information from industry sources, regulatory and healthcare policies, demographics, and other factors that directly affect the circulating tumor cell market.
In addition, the report provides a comprehensive review of cancer, incidence and development of the disease, drugs currently being used, and diagnostic technologies. It also reviews technological developments, product innovations/introductions, and recent strategic industry activity of major players across various product categories. Growth rates, global incidence, and projections were determined through a compilation of data, including past trends, future trends, demographics, incidence, mortality, products in R&D, and current product growth, etc. Forecasts and projections were based on estimates such as the current trends, potential users, mergers and acquisitions, and market trends.
This technical market research report contributes to the areas of market growth in circulating tumor cells and diagnostic strategies for metastatic cancer. As such, it will be of interest largely to the pharmaceutical and biotechnology industries, as well as clinics, hospitals, and research institutes. In addition, this report will prove crucial for investment firms looking for opportunities in this market.