Circulating Tumor Cell (CTC) Diagnostics Market Driven by Growing Awareness for Early Detection of Cancer

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Circulating Tumor Cell (CTC) Diagnostics Market

A fresh business and commerce study acquired by MarketResearchReports.biz, which is now available for sale, attributes the prevalence of cancer as the primary reason that will ensure a sustained demand in the global market for circulating tumor cell (CTC). The report, titled “Global Circulating Tumor Cell (CTC) Diagnostics Market 2017-2021,” has been developed by a group of professional market analysts with a solitary goal to serve as a reliable business tool for its targeted audiences such as original equipment manufacturers, medical equipment suppliers and distributors, hospitals and diagnostic clinics, and research institutes. To name a few features of the report, it begins with an overview of the current scenario of the market for CTC diagnostics, provides exhaustive analysis of all dynamics such as trends, drivers, and restraints, segments it on the basis of end users, gauges the potential of the market in various regions and countries, and profiles some of the key vendors in order to represent the competitive landscape.

The report estimates the demand in the global circulating tumor cell diagnostics market to expand at a notable CAGR of 9.39% during the forecast period of 2017 to 2021. According to a report by the World Health Organization (WHO), 15 million new cases of cancer would be detected across the world by 2020. This strong prevalence of cancer has led to various advancements in the diagnostic processes as early detection is of great essence. Diagnosed via bone marrow biopsy, blood count, and molecular identification of mutated cells, circulating tumor cell diagnostics enables in the identification of deoxyribonucleic acid (DNA) shed by tumor cells and its ratio in blood or lymphatic system helps in providing important information regarding prognosis and treatment effectiveness for cancer patients.

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Increasing income of urban population who are now adopting insurance and reimbursement policies against chronic diseases, escalating rate of geriatric population across the world, and improving healthcare infrastructure across various emerging economies are some of the other factors augmenting the demand in the global circulating tumor cell diagnostics market. In addition to that, various governments are taking initiatives to increase awareness regarding the prevalence of cancer and offering subsidies on diagnostic equipment.

On the basis of end-users, this report segments the global circulating tumor cell diagnostics market into pharmaceuticals and biotechnology companies, hospitals and clinics, academic research institutes, and CROs. The segment of hospitals and clinics accounted for the maximum demand, which was a result of increasing number of cancer cases across the world. The report observed that while various healthcare companies have invested and as a result, hospitals with sufficient budget and long-term contracts with vendors and suppliers have mushroomed across various developed and developing countries, which in turn is aiding to the prosperity of this segment. Geographically, the report gauges the potential of CTC diagnostics market in the regions of Americas, Asia Pacific, and Europe, The Middle East, and Africa, and rates Americas to remain the most throughout the forecast period.

As far as the competitive landscape is concerned, the report has detected a highly competitive scenario owing to the presence of a number of vendors who offer similar products. As the demand for faster and innovative diagnostics expands, key vendors such as ApoCell, Qiagen, and Menarini Silicon Biosystems are also expected to invest on research and development of new products to differentiate themselves from the competition. The report also identifies a few other prominent players of this market, such as BioCep, Advanced Cell Diagnostics, BIOCEPT, Celltraffix, BioFluidica, Clearbridge Biomedics, Cynvenio, Creatv MicroTech, Epic Sciences, Gilupi, Ikonisys, Fluxion Biosciences, IVDiagnostics, and ScreenCell.

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