April 22, 2024
Circulating Cell-Free Tumor Dna Market

Circulating Cell-Free Tumor DNA Market is Estimated to Witness High Growth Owing to Rising Incidences of Cancer Cases

Circulating cell-free tumor DNA (ctDNA) refers to DNA fragments that are shed by tumor cells into the bloodstream. ctDNA is regarded as a promising novel biomarker to help detect early-stage cancers, monitor tumor dynamics and identify targetable genomic alterations for precision oncology. It offers advantages like being a non-invasive source of tumor-derived material for molecular analysis. Growing demand for non-invasive techniques for cancer detection and management along with advancements in liquid biopsy technologies are driving the demand for ctDNA testing.

The Global Circulating Cell-Free Tumor DNA Market is estimated to be valued at US$ 7.03 Mn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period from 2024 to 2030.

Key Takeaways

Key players operating in the Circulating Cell-Free Tumor DNA are BASF SE, Perstorp Holding AB, Chemoxy International Ltd., and Merck Group.

The key opportunities in the market include development of novel non-invasive techniques for early cancer detection and real-time cancer monitoring. ctDNA testing allows for repetitive liquid biopsies which could help optimize treatment decisions and monitor disease recurrence or progression.

Growing research collaborations and partnerships globally aimed at commercializing liquid biopsy tests are expected to aid the expansion of the ctDNA market. Increasing cancer incidence rates especially in developing nations also present growth prospects.

Market drivers

Rising global burden of cancer cases is a major driver for the Circulating Cell-Free Tumor Dna Market Growth. According to the WHO, cancer burden has risen to 18.1 million new cases and 9.6 million cancer deaths in 2018. Early detection significantly improves chances of survival. ctDNA monitoring provides a minimally invasive alternative to repetitive tumor biopsies. This increases accessibility and affordability of molecular cancer diagnostics and management.

PEST Analysis

Political: The high healthcare expenditure and governments’ initiatives to expand healthcare access positively impact the growth. Growing awareness about early detection and screening programs also contribute.

Economic: Rising disposable incomes boost spending on advanced healthcare technologies. However, the high costs associated with Oncology research and diagnostic development pose challenges.

Social: Increasing cancer incidence worldwide generates demand. Growing health consciousness and awareness regarding early diagnosis and treatment lead to early screenings.

Technological: Rapid advances in genomics, single-cell analysis, and liquid biopsy methods drive the ccftDNA market. Non-invasive tests that can detect cancer earlier than conventional methods gain popularity. Improving miniaturization and analytical abilities expand applications.

Geographical concentration

North America holds the largest share due to established healthcare infrastructure, high adoption of advanced technologies, and presence of key industry players. Favorable reimbursement policies and initiatives to expand cancer screening also contribute.

Fastest growing region

Asia Pacific is expected to witness the fastest growth over the forecast period. This is attributed to rising healthcare spending, growing middle-class population with increased access to healthcare, rapid economic development and increasing investments from industry players looking to tap opportunities. In addition, improving awareness regarding prevention and early detection boosts regional growth.

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