ALBANY, New York, today announced that-A new market report has been published by Transparency Market Research titled "Circulating Tumor Cells (CTCs) and Cancer Stem Cells (CSCs) Market - Global Scenario, Trends, Size, Growth and Industry Analysis, 2011 - 2018." Globally, CTCs and CSCs Market is estimated to reach USD 7.9 billion by 2018. The study shows that in the overall CTCs and CSCs global market, the U.S. is expected to maintain its lead position in terms of revenue till 2018. The global market for cancer diagnostics based on Circulating Cancer Cells (CTCs) was estimated at USD 1.0 billion in 2011.
The rising prevalence of diseases like cancer and the reimbursement support by regulatory bodies in developed countries like United States and Europe are the major factors driving the growth of the CTCs and CSCs market. Though the currently used detection method lacks sensitivity or specificity to track all CTCs particularly the ones that have lost characteristic epithelial features, there is still good scope for pharmaceutical companies in the CTCs and CSCs field. The various sub-types of cancer may have their own classes and it creates an opportunity in the future.
Increase in cancer mortality rate in the past few years and an increase in number of cancer patients offers an opportunity for pharmaceutical companies to enter this sector. Every one person out of eight has the potential of getting affected by cancer and it is estimated that 12 to 37 lives can be saved daily with the help of CTCs and CSCs.
The major geographic markets for CTCs and CSCs are the U.S. and Europe. The U.S. accounted for more than 50% of the worldwide CTCs and CSC market in 2011.
PR Newswire