July 15, 2024
Circulating Cell-Free Tumor DNA Market

Circulating Cell-Free Tumor DNA Anticipated to Open Up New Avenues for Cancer Diagnostics

The Circulating Cell-Free Tumor DNA Market is estimated to be valued at US$ 6.1 Bn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Circulating cell-free tumor DNA (ctDNA) refers to small fragments of DNA that are shed by tumor cells into the bloodstream. ctDNA analysis is a promising non-invasive method for cancer diagnosis and monitoring of tumor evolution and treatment response. ctDNA analysis provides valuable information about cancer diagnosis, prognosis, residual disease, recurrence and treatment response monitoring. It helps doctors to detect cancer at an early stage and apply personalized treatment plans.

Market Dynamics:

Increasing prevalence of cancer across the globe is a key driver for the circulating cell-free tumor DNA market. According to the World Health Organization, cancer is one of the major causes of death worldwide, accounting for nearly 10 million deaths in 2020. The expanding diagnostic and therapeutic applications of ctDNA tests such as potential use in screening, minimal residual disease detection, treatment response monitoring and recurrence monitoring is expected to significantly contribute to the market growth. Advancements in next-generation sequencing techniques is allowing researchers and clinicians to harness the power of ctDNA analysis to gain deep insights into tumor profiles during the course of cancer treatment. This has led to rapid commercialization of ctDNA based assays, fueling the market growth over the forecast period.

Segment Analysis

Circulating Cell-Free Tumor DNA Market is segmented into Application and End User. The Application segment is further bifurcated into Liquid Biopsy, Therapy Selection, Recurrence Monitoring, Diagnostics. Among them, Liquid Biopsy sub-segment holds the largest market share as Cell-free DNA can be used as a non-invasive biomarker in cancer detection and diagnosis. The circulating tumor DNA in blood can reveal genetic mutations associated with tumors and this is more convenient compared to invasive tumor biopsies.

PEST Analysis

Political: Government initiatives to increase cancer awareness and fund research activities is driving the market. Regulations regarding reimbursement for liquid biopsy tests are still evolving.

Economic: Rising healthcare expenditure and increasing cases of cancer globally is fueling market growth. However, high cost of tests may restrict market penetration in developing regions.

Social: Growing awareness about early cancer detection and non-invasive diagnostic techniques among public is boosting adoption. Also increasing income levels favor market demand.

Technological: Advancements in liquid biopsy techniques, targeted therapies and next-gen sequencing are expanding applications of ctDNA. Sophisticated data analysis solutions allow tracking of tumor evolution over time.

Key Takeaways

The Global Circulating Cell-free Tumor DNA Market Size is expected to witness high growth, exhibiting 22% CAGR over the forecast period, due to increasing cancer incidence and preference for minimally invasive diagnostic procedures.

North America dominates the global market owing to developed healthcare system, high adoption of advanced diagnostic techniques and large cancer patient base. Asia Pacific is anticipated to be the fastest growing regional market by 2030 with increasing governmental initiatives, healthcare reforms and growing disposable incomes.

Key players operating in the Circulating Cell-Free Tumor DNA Market are Biocept, Inc., Illumina, Inc., Quest Diagnostics Incorporated, KURABO INDUSTRIES LTD, PerkinElmer chemagen Technologie GmbH, Biodesix, Guardant Health, QIAGEN, Sequenom, Inc., Agilent Technologies, Inc., Fluxion Biosciences Inc., Natera, Inc., Agena Bioscience, Inc., Paragon Genomics, Inc., Lucence Health Inc., Eurofins Genomics, Thermo Fisher Scientific. They are continually focusing on product launches, technological innovations and partnerships and collaborations to strengthen their market position and provide better diagnostic solutions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it