Market Overview:
Circulating cell-free tumor DNA (ctDNA) is DNA fragments that are shed by tumors into the bloodstream. It can be used for non-invasive cancer diagnosis and prognosis. ctDNA analysis provides real-time monitoring of cancer progression and detection of tumor recurrence or acquired resistance. It also allows for personalized treatment selection based on detection of targetable genetic alterations.
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 22.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the circulating cell-free tumor DNA market is non-invasive cancer diagnosis. ctDNA analysis allows detection of cancer at an early stage by analyzing blood samples instead of tissues biopsies. It provides a less invasive alternative to tissue biopsy especially for cancers that are difficult to access such as lung, pancreatic and brain cancers. ctDNA tests do not require any complex surgical procedures and thus help reduce healthcare costs, risks of biopsies and improve patient outcomes and experience. Various companies are focusing on developing and commercializing ctDNA tests for non-invasive screening, diagnosis, monitoring and treatment of different cancer types including breast, lung, prostate and colorectal cancers. This is expected to significantly drive the demand for circulating cell-free tumor DNA solutions over the forecast period.
Porter’s Analysis
Threat of new entrants: New entrants face considerable costs to develop technologies to analyze cell-free tumor DNA. They also need to build extensive reference databases and form partnerships with healthcare facilities. These high entry barriers protect established players.
Bargaining power of buyers: Healthcare providers hold significant power as buyers since they control large budgets for diagnostics and therapeutics. They bargain for lower costs and better service levels from market players.
Bargaining power of suppliers: Specialized kit and equipment suppliers are limited in number. However, they do not exert significant pressure on prices as the market is highly collaborative in nature.
Threat of new substitutes: Companion diagnostics continue to emerge but none can match the accuracy and reliability of cell-free tumor DNA analysis in detecting cancer non-invasively.
Competitive rivalry: Strong as leading international brands compete on technological innovations, clinical studies and biomarkers database expansion. Players focus on partnerships and new test approvals.
SWOT Analysis
Strengths: Non-invasive nature of liquid biopsies enhances patient compliance. Emerging as frontline for cancer screening, treatment monitoring and relapse detection.
Weaknesses: Challenges in optimizing assays for different tumor types. Heterogeneity among samples limits test accuracy for some cancers.
Opportunities: Personalized treatment decisions and increased collaborations with pharma/academia. Adoption across developing nations as accessibility and costs improve over time.
Threats: Strict regulations for commercial tests. Ethical and legal concerns over privacy of genetic data shared with third parties.
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 adoption for treatment decisions and clinical trials.
North America dominates currently due to advanced healthcare facilities, research investments and FDA approvals for commercial tests. Europe and Asia Pacific regions are growing fastest on back of improving diagnostic infrastructure, growing awareness and patient pools.
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. These leaders are focused on partnerships with core labs, hospitals and therapeutics companies.
For More Insights, Read: https://www.newswirestats.com/circulating-cell-free-tumor-dna-market-demand-growth-and-regional-outlook-by-2030/
Circulating Tumor Cell Diagnostics are significantly useful in determining the status of disease progression rate and projection of therapy needed for tumor eradication.
Further development of various tumor markers that can be used along with companion diagnostics to diagnose or monitor various forms of cancer are expected to boost usage rates of CTC tests in the coming years.Circulating tumor cell detection test possesses the ability to detect, quantify, and analyze tumor cells in the blood of cancer patients.
It includes enrichment, detection and analysis of the detected circulating tumor cells.
Circulating tumor cells tests are applicable in the characterization of tumor cells through biochemical marker analysis.
CTC isolation, detection, and molecular characterization systems find investigational application in prostate, breast, colon, head, neck, skin, lung, and pancreatic cancerKey questions addressed by the reportWhere will all these developments take Circulating Tumor Cell Diagnosticsin the mid- to long-term?What are the upcoming technological trends in the Circulating Tumor Cell Diagnosticsmarket?What are the opportunities for various players that exist at present and those that are planning to enter at different stages of the value chain?How growth strategies implemented by key players will impact the growth rate of the Circulating Tumor Cell Diagnosticsmarket, and who will have the undue advantage?What are the current adoption trends of the Circulating Tumor Cell Diagnosticsmarket?Report Sample includes:- Table of Contents- List of Tables & Figures- Charts- Research MethodologyGet FREE Sample of this Report at https://www.24marketreports.com/report-sample/global-circulating-tumor-cell-diagnostics-2019-624Growing incidences oncology diseases and the introduction of novel biotechnological methods that enable the isolation and quantitation of circulating tumor cells.
Furthermore, other factors like early disease diagnosis, cost savings on multiple treatments, drug safety, patient compliance, and optimization of therapies are attributive for rising demand for the preventive medicine, thus influencing the demand for CTC tests.On course of the forecast period it is expected that over 150 companion diagnostic on-label combinations and a range of personalized therapeutic drugs under clinical trials and development pipelines based on companion diagnostics.
Circulating Tumor Cell Market OverviewIn 2017, the global market size of circulating tumor cell (CTC) reached a valuation of USD 9,393.1 Mn.
The market is projected to surpass a valuation of USD 28,300 Mn by the end of 2023, reflecting a healthy growth rate.The prevalence rate of CTC has gone up in recent years.
The mechanism of CTC is responsible for a vast majority of deaths caused by cancer.
Circulating tumor cells can be associated with different types of cancer prognosis including breast cancer, prostate cancer, and gastric cancer among others.
Healthcare companies continue to focus on developing solutions that enable accurate and quick detection of CTC.
The diagnosis and analysis of CTCs can help in early cancer detection and determine appropriate treatments tailored for specific cancer types.The “Circulating Tumor Cell Market” In-Depth competition analysis of the major companies in the report, sector of the report includes the market depictions, requirements, and product portrayals, manufacture, competence, contact figures, cost, and revenue.The Circulating Tumor Cell Market provide valuable insight with an emphasis on the global market including some of the major players such As, Ikonisys Inc., Greiner Bio-One International GmbH, Thermo Fisher Scientific, SRI International, STEMCELL Technologies, Miltenyi Biotec, Menarini Silicon Biosystems, QIAGEN Hannover (QIAGEN), F. Hoffmann-La Roche Ltd, NanoString Technologies, Inc, Fluxion Biosciences, Inc., GE Healthcare, ApoCell, Advanced Cell Diagnostics, Inc. (Bio-Techne Corporation), Epic Lifesciences, Celltraffix Inc.Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region.
