WELLESLEY, Mass., April 25, 2018 (GLOBE NEWSWIRE) -- Increasing adoption of circulating tumor cell technologies (CTC), the increasing incidence of cancer and reimbursement support are driving growth within the global market. In a new report Circulating Tumor Cell (CTC) Diagnostics: Technologies and Global Markets, BCC Research estimates that this industry will reach $4.6 billion in 2017 and $10.3 billion in 2022, with a compound annual growth rate (CAGR) of 17.6%.
CTCs can help evaluate cancer progression to gauge patient prognosis as well as their response to current cancer therapies, proving beneficial to patient health. Many technologies for the detection, characterization and analysis of CTCs are garnering significant attention. Currently, the United States and Europe are the major geographic markets for CTC technology.
Menarini-Silicon Biosystems, which owns Johnson & Johnson’s Veridex division, is the only company with FDA approval in the CTC prognostics area. The company’s test kit is useful for testing the prognosis of patients suffering from metastatic stage in breast cancer, prostate cancer and colorectal cancers. Many companies have products in clinical trials and are expected to compete in the next few years with newer and better products.
Research Highlights
- The global cancer biomarker market is expected to grow to $22 billion by 2022.
- Three major topics of CTC clinical utility are liquid biopsy, treatment based on CTC count or variations and treatment based on CTC biomarker expression.
- The current market for CTC diagnostics applies to metastatic breast, prostate and colorectal cancer.
“One of the most important drivers for the excipient industry is the global demand for pharmaceutical products,” said Robert G. Hunter, BCC Research senior editor, healthcare. “This includes mature products and generics, as well as novel drugs for orphan and new emerging diseases.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.