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Circulating Tumor Cells Market Size, Growth & Forecast 2024-2033
Circulating Tumor Cells Market Size
According to The Business Research Company's, The circulating tumor cells market size has grown rapidly in recent years. It will grow from $10.79 billion in 2023 to $12.21 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to cancer incidence and prevalence, clinical utility in cancer staging, emergence of liquid biopsy, patient demand for minimally invasive tests, regulatory support for liquid biopsies, focus on early cancer detection..
The circulating tumor cells market size is expected to see rapid growth in the next few years. It will grow to $19.45 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to point-of-care ctc testing, adoption of microfluidics, focus on rare cancer types, standardization of ctc assays, expansion of ctc-based clinical trials, economic and emerging market growth.. Major trends in the forecast period include innovations in ctc isolation techniques, government funding for ctc research, advancements in ctc detection technologies, liquid biopsy for cancer monitorin, integration with single-cell analysis, technological convergence with artificial intelligence (ai)..
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Market Drivers and Trends:
The growing incidence of cancer is expected to propel the circulating tumor cells market growth going forward. Cancer refers to a disease in which a few body cells grow uncontrollably and spread to other parts. Circulating tumor cells are used to help in the early detection and diagnosis of cancer, and thus growing incidence of cancer propels the growth of the circulating tumor cells market For instance, in January 2023, according to reports shared by the American Cancer Society Inc., a US-based voluntary health organization, by 2021, 1.9 million new cancer cases will be diagnosed and 608,570 cancer deaths. Therefore, the growing incidence of cancer is driving the growth of the circulating tumor cells market.
Product innovations are a key trend gaining popularity in the circulating tumor cells market. Major companies operating in the circulating tumor cells market are focused on developing innovative products to strengthen their position in the market. For instance, in February 2021, Menarini Silicon Biosystems, an Italy-based company operating in liquid biopsy and single-cell technologies, launched the new CellMag CTC Epithelial Cell kit. The kit uses ferrofluid technology to streamline the manual immuno-magnetic enrichment and staining of rare CTCs (circulating tumor cells). It is a cost-effective and simple protocol for liquid biopsy labs by allowing standardization of sample preparation.
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Major Key Players of the Market:
Precision Medicine Group LLC; Bio-Techne Corporation; BIOCEPT Inc.; Creativ MicroTech Inc.; Fluxion Biosciences Inc.; Ikonisys Inc.; Qiagen N.V.; ScreenCell SAS; STEMCELL Technologies Inc.; Sysmex Corporation; Aviva Biosciences Corporation; LungLife AI Inc.; Miltenyi Biotec GmbH; Menarini Silicon Biosystems S.p.A.; Canopus Bioscience Ltd.; IVDiagnostics Inc.; BioFluidica Inc.; Biolidics Limited; Rarecells Diagnostics SAS; LineaRx Inc.; Thermo Fisher Scientific Inc.; Greiner Bio-One International GmbH; Stanford Research Institute International; Agilent Technologies Inc.; Resolution Bioscience Inc.; Cynvenio Biosystems Inc.; ApoCell Inc.; Clearbridge BioMedics Pte. Ltd.; Celsee Inc.; RareCyte Inc.; On-chip Biotechnologies Co. Ltd.
Circulating Tumor Cells Market 2024 Key Insights:
• The circulating tumor cells market will grow to $19.45 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%.
• Rising Cancer Incidence Drives Surge In Circulating Tumor Cells Market
• The Surge Of Product Innovations In The Circulating Tumor Cells Market
• North America was the largest region in the circulating tumor cells market in 2023
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