by Market Overview:
Circulating cell-free tumor DNA (ccf-DNA) refers to fragmented DNA from tumor cells that circulates in the bloodstream of cancer patients. The key feature of ccf-DNA is that it represents the genetic profile of the tumor and can be non-invasively measured from blood draws. Since ccf-DNA levels increase as tumor size and disease stage increases, it can be used as a liquid biopsy to aid in early detection, molecular monitoring of disease and as a companion diagnostic. The advantages of using ccf-DNA include its non-invasive nature, real-time monitoring ability and representation of both primary and metastatic tumor lesions.
The global 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 22.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing demand for non-invasive diagnostic and monitoring tools is a key trend fueling the ccf-DNA market. Traditional tissue biopsies are invasive procedures associated with risks, costs and sampling errors due to tumor heterogeneity. Ccf-DNA analysis provides a convenient and safer alternative for serial patient monitoring and tumor profiling without requiring repeat biopsies. Another major trend is the increasing use of ccf-DNA for treatment selection and therapy guidance in metastatic cancer patients. Detection of targetable genomic alterations in ccf-DNA can help identify responsive patient populations and guide selection of targeted therapies. Commercial availability of technologically advanced ccf-DNA assays and platforms with high sensitivity and specificity is also fueling market revenues.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate in the circulating cell-free tumor DNA market due to the requirement of specialized skills and technologies for accurate detection and analysis of CTCF DNA.
Bargaining power of buyers: The bargaining power of buyers is high as there are numerous players offering CTCF DNA tests with different product offerings and prices globally.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are multiple suppliers providing raw materials and technologies required for CTCF DNA testing.
Threat of new substitutes: The threat of new substitutes is low as currently there are no perfect substitutes available for CTCF DNA testing for early cancer detection and disease monitoring.
Competitive rivalry: High due to presence of many global and regional players offering a variety of CTCF DNA testing solutions.
Key Takeaways
The Global Circulating Cell-Free Tumor DNA Market Size is expected to witness high growth, exhibiting CAGR of 22.9% over the forecast period, due to increasing prevalence of cancer globally.
Regional analysis: North America is expected to dominate the global circulating cell-free tumor DNA market during the forecast period. This is attributed to highly developed healthcare infrastructure, rising cancer incidence, favorable reimbursement policies for cancer diagnostics, and presence of key market players in the region. Asia Pacific is anticipated to exhibit the fastest growth rate over 2023-2030 due to growing geriatric population, increasing healthcare spending, rising awareness about early cancer diagnosis in India and China.
Key players operating in the circulating cell-free tumor DNA market include 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. Key players are focusing on new product launches, partnerships, and expansion in emerging markets to strengthen their position in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
