According to our latest study on “Circulating Tumor Cell (CTC) Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology (CTC Detection and Enrichment Method, CTC Direct Detection Method, and CTC Analysis), Application (Clinical/Liquid Biopsy and Research), and End User (Hospitals and Clinics, Research and Academic Institutes, and Diagnostic Centers),” the market is expected to grow from US$ 1,909.41 million in 2021 to US$ 3,656.38 million by 2028; it is estimated to grow at a CAGR of 9.7% from 2021 to 2028. The report highlights the key factors driving the market and prominent players with their developments. The growth of the circulating tumor cell (CTC) diagnostics market is primarily attributed to the increasing prevalence of cancer globally and the rising demand for minimally invasive diagnostic procedures. However, the dearth of skilled professionals performing diagnostic procedures hampers the market growth.
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Based on technology, the circulating tumor cell (CTC) diagnostics market is segmented into CTC detection and enrichment method, CTC direct detection method, and CTC Analysis. The CTC detection and enrichment method segment held the largest share of the market in 2021, and would lead the global market during the forecast period. Moreover, the same segment is expected to register the highest CAGR in the market during 2021–2028. With the help of CTC diagnostics, individuals can be diagnosed early. Therefore, the adaption of these technologies is increasing, which is expected to drive the market during the forecast period.
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 a few leading companies operating in the circulating tumor cell (CTC) diagnostics market.
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The report segments the circulating tumor cell (CTC) diagnostics market as follows:
The circulating tumor cell (CTC) diagnostics market is segmented on the basis of technology, application, end user, and geography. Based on technology, the market is segmented into CTC detection and enrichment method, CTC direct detection method, and CTC analysis. Based on application, the circulating tumor cell (CTC) diagnostics market is bifurcated into clinical/liquid biopsy and research. The market for the clinical/liquid biopsy segment is subsegmented into risk assessment, screening, and monitoring. Also, the market for the research segment is further bifurcated into cancer stem cell and tumorigenesis, and drug/therapy development. Based on end user, the circulating tumor cell (CTC) diagnostics market is segmented into hospitals and clinics, research and academic institutes, and diagnostic centers. Geographically, the circulating tumor cell (CTC) diagnostics market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).
Due to the COVID-19 pandemic, the demand for circulating tumor cell (CTC) diagnostics has declined. The unprecedented impact of the pandemic has been far-reaching, but its effects on cancer patients make them one of the worst affected groups. The COVID-19 outbreak has profoundly impacted the patients undergoing cancer screening, diagnosis, and treatment. The increased pressure on hospitals due to the growing hospitalization rate of COVID-19 patients led to the re-profiling of many hospitals and departments, including oncology clinics, for treating COVID-19 patients. In addition, several biotechnology and pharmaceutical companies have shifted their emphasis on developing novel diagnostics and therapies for COVID-19, which has negatively affected the circulating tumor cell (CTC) diagnostics market significantly. Furthermore, many cancer tests and screenings were delayed due to the COVID-19 crisis. At the same time, limited availability of healthcare staff around the world is another factor that negatively impacts the circulating tumor cell diagnostics market.
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