Report : Asia Pacific Circulating Tumor Cell (CTC) Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional 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)
CTC Detection and Enrichment Method Segment has the Largest Share of Technology in the Asia Pacific Circulating Tumor Cell (CTC) Diagnostics Market during 2021–2028
According to our latest study on “Asia Pacific Circulating Tumor Cell (CTC) Diagnostics Market Forecast to 2028 – COVID-19 Impact and Analysis – by Technology, Application, and End User,” the market is projected to reach US$ 689.3 million by 2028 from US$ 347.6 million in 2021; it is expected to grow at a CAGR of 10.3% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the increasing prevalence of cancer across the region along with rising demand for minimally invasive diagnostic procedures. However, dearth of skilled professionals performing diagnostic procedures is expected to restrict the market growth during the forecast period.
Prohibited measures have been taken to contain the spread of this pandemic. The COVID-19 pandemic has largely affected the economies in the Asia-Pacific region. Countries like India, China, Japan, and South Korea have been affected by the pandemic. Owing to the pandemic the cancer screening, diagnosis and treatment either got postpone or delayed due to the covid-19 thus, expected to decline demand for Circulating Tumor Cell (CTC) diagnostics. Moreover, Government regulations, a nationwide lockdown, and a spike in infection rates across countries all had a significant financial impact on healthcare facilities. Several hospitals and clinics have seen a decrease in patient visits as a result of COVID-19, resulting in reduced client contact. Furthermore, the COVID-19 situation has caused many cancer tests and screening to be delayed. There is a scarcity of medical care for conditions other than COVID-19 around the world, which has had a detrimental impact on the circulating tumor cell diagnostics market. At the same time, limited healthcare staff availability around the world is another factor that has a negative impact on the circulating tumor cell diagnostics market. In addition, the socio-economy was badly hit, with negative inflation, GDP, and unemployment rising in the region. The pandemic has affected three main aspects of the global economy: manufacturing, supply chain, and business and financial markets. Japan, China, South Korea, India, and Australia are the hardest-hit countries due to the rising number of COVID-19 cases and related deaths. Furthermore, biotechnology companies are shifting their focus to developing and supplying COVID-19 essentials and diagnostics for covid-19. This scenario harms the market. This pandemic is affecting the operations of the various key players operating in this region.
Based on technology, the circulating tumor cell (CTC) diagnostics market is segmented into CTC detection and enrichment method, CTC direct detection and CTC analysis. In 2021, the CTC detection and enrichment segment accounted for the highest share, moreover the same segment is expected to grow at a CAGR of 10.2% in the forecast period.
Thermo Fisher Scientific, Stemcell Technologies, Inc, QIAGEN, Advanced Cell Diagnostics (Bio-Techne Corporation), Screencell, and Fluxion Biosciences are among the leading companies in the Asia Pacific circulating tumor cell (CTC) diagnostics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for circulating tumor cell (CTC) diagnostics market is segmented into technology, application, and end user. Based on technology, the Asia Pacific circulating tumor cell (CTC) diagnostics market is segmented into CTC detection and enrichment method, CTC direct detection and CTC analysis. Based on application, the circulating tumor cell (CTC) diagnostics market is segmented into clinical/liquid biopsy, and research. 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 Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia Pacific).
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