Circulating Cell-Free Tumor DNA Analysis Market to Reach $25.88 Billion by 2030, Says Coherent Market Insights (CMI)

Advancing Precision Oncology: Circulating Cell-Free Tumor DNA Analysis Market Paves the Way for Non-Invasive Cancer Diagnosis and Monitoring, Forecasted to Witness Substantial Growth with a Projected CAGR of 22.9% during 2023-2030.

/EIN News/ -- Burlingame, July 25, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, “Circulating Cell-Free Tumor DNA Market, by Tumor Type (Malignant Tumors, Precancerous Tumors), by Cancer Type (Lung Cancer, Colorectal Cancer, Breast Cancer, Others) by Technology (PCR, Massively Parallel Sequencing, Single Nucleotide Polymorphism), by Application (Cancer Diagnosis, Targeting Therapeutics, Prognosis Indication) - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030” According to the report, Global Circulating Cell-Free Tumor DNA Analysis Market is estimated to be valued at US$ 6.1 billion in 2023 and is expected to exhibit a CAGR of 22.9% during the forecast period (2023-2030).

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Analysts’ Views on Global Circulating Cell-Free Tumor DNA Analysis Market:

The adoption of organic strategies such as product launches by various key players is expected to drive market growth over the forecast period. For instance, in December 2021, Epic Sciences, a diagnostics company improving cancer management by providing real-time biopsy material, announced DefineMBC, a novel metastatic breast cancer (MBC) test that includes both cell-based and cell-free analysis from a single blood draw.

Global Circulating Cell-Free Tumor DNA Analysis Market- Driver

Increasing product launches by key players in the market

Increasing product launches by key players in the market to expand their product portfolio is expected to drive market growth over the forecast period. For instance, in June 2022, Guardant Health, a leading precision oncology company, announced the launch of its new product Guardant360 Response which is the first commercially available, blood-only, liquid biopsy test that detects changes in circulating tumor DNA (ctDNA) levels to provide oncologists an early indication of a patient’s response to treatment.

Global Circulating Cell-Free Tumor DNA Analysis Market- Restraint

High cost of circulating cell-free tumor DNA analysis

The major factors that can hamper the growth of the global circulating cell-free tumor DNA analysis market over the forecast period include the high cost of circulating cell-free tumor DNA analysis. For instance, in January 2022, according to a report published by National Center for Biotechnology Information (NCBI), the cost of (circulating cell-free tumor DNA) ctDNA test was estimated at US$ 500 per test.

Circulating Cell-free Tumor DNA Market Report Coverage

Report Coverage	Details
Base Year:	2022		Market Size in 2023:	US$ 6.1 Bn
Historical Data for:	2017 to 2021		Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	22.9%		2030 Value Projection:	US$ 25.88 Bn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Tumor Type: Malignant Tumors, Precancerous Tumors By Cancer Type: Lung Cancer, Blood Stream Infections, Breast Cancer, Others By Technology: PCR, Massively Parallel Sequencing, Single Nucleotide Polymorphism  By Application: Cancer Diagnosis, Targeting Therapeutics, Prognosis Indication
Companies covered:	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.
Growth Drivers:	Increasing product launches by key players
Restraints & Challenges:	Disadvantages associated with circulating cell-free tumor DNA

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Global Circulating Cell-Free Tumor DNA Analysis Market- Opportunity

Approval of circulating cell-free tumor DNA analysis test by regulatory authorities

Adoption of organic strategies such as the approval of circulating cell-free tumor DNA analysis tests by regulatory authorities is expected to drive the global circulating cell-free tumor DNA analysis market growth over the forecast period. For instance, in August 2020, F. Hoffmann-La Roche Ltd, a biotechnology company that develops drugs and diagnostics to treat major diseases, announced that the U.S. Food and Drug Administration (FDA) has approved Foundation Medicine’s FoundationOneLiquid CDx, a comprehensive pan-tumor liquid biopsy test for patients with solid tumors.

Global Circulating Cell-Free Tumor DNA Analysis Market Cross Sectional Analysis:

Among cancer type, the lung cancer segment is dominant during the forecast period in North America region due to the increasing prevalence of lung cancer which is expected to drive segment growth over the forecast period. For instance, on 12 January 2023, an article published by American Cancer Society, Inc., a cancer journal, stated that about 238,340 new cases of lung cancer are projected to occur in 2023.

Global Circulating Cell-Free Tumor DNA Analysis Market Segmentation:

The global circulating cell-free tumor DNA analysis market report is segmented into Tumor Type, Cancer Type, Technology, Application, and Region

Based on Tumor Type, the market is segmented into malignant tumors and precancerous tumors. Out of which, the precancerous tumors segment is expected to dominate the circulating cell-free tumor DNA analysis market during the forecast period and this is due to the increase in the usage of circulating cell-free tumor DNA analysis for early detection of cancer.

Based on Cancer Type, the circulating cell-free tumor DNA analysis market is segmented into lung cancer, colorectal cancer, breast cancer, and others. The lung cancer segment is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of lung cancer.

Based on Technology, the circulating cell-free tumor DNA analysis market is segmented into PCR, massively parallel sequencing, and single nucleotide polymorphism. The massively parallel sequencing segment is expected to dominate the market over the forecast period and this is due to the increasing usage of massively parallel sequencing for the detection of cancer DNA.

Based on Application, the circulating cell-free tumor DNA analysis market is segmented into cancer diagnosis, targeting therapeutics, and prognosis indication. The cancer diagnosis segment is expected to dominate the market over the forecast period and this is due to the increasing usage of cancer diagnosis methods.

Among all segmentation, the application segment has the highest potential due to the increasing usage of circulating cell-free tumor DNA analysis for cancer diagnosis. For instance, in September 2020, according to an article published by National Cancer Institute, by 2040, the number of new cancer cases per year is expected to rise to 29.5 million

Global Circulating Cell-Free Tumor DNA Analysis Market: Key Developments

Increasing research and development activities and product launch by key players in the market is expected to generate new opportunities in the global circulating cell-free tumor DNA analysis market.

In May 2022, Predicine, a global molecular insights company, announced the results of a new research study that demonstrated superior performance of the PredicineATLAS liquid biopsy next-generation sequencing (NGS) assay compared to four other leading liquid biopsy assays for key metrics.

In October 2022, NRICHDX, an emerging leader in the liquid biopsy sample preparation market, announced the launch of two new products designed to help researchers advance liquid biopsy assay development. The new product contains tubes of thaw-and-use cfDNA extraction controls to measure the yield and efficiency of cfDNA extraction.

In December 2021, Quest Diagnostics Incorporated, a provider of diagnostic information services, announced the availability of a liquid biopsy-based Target Selector NGS Lung Panel test developed by BIOCEPT, INC., a commercial-stage cancer diagnostics company. The lab-developed liquid biopsy test aids genomic profiling in patients with advanced non-small cell lung cancer (NSCLC), helping physicians identify potential targeted therapies and monitor the effectiveness of treatment.

In December 2020, Singlera Genomics, a biotechnology company, announced that it raised US $150 million in Series B financing to promote the development and commercialization of early cancer screening products.

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Key Market Takeaways:

The global circulating cell-free tumor DNA analysis market is expected to exhibit a CAGR of 22.9% during the forecast period due to the increasing prevalence of cancer. For instance, in May 2021, according to an article published by National Center for Biotechnology Information (NCBI), an estimated 19.3 million new cancer cases were reported in the year 2020.

Among cancer type, lung cancer segment is dominant due to the increasing prevalence of lung cancer, which is expected to drive the segment growth over the forecast period. For instance, in February 2021, a report published by the American Cancer Society, which is a cancer journal, stated that lung cancer remained the leading cause of cancer death, with an estimated 1.8 million deaths in 2020.

Competitive Landscape:

Key players operating in the global circulating cell-free tumor DNA analysis 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.

Market Segmentation:

• Global Circulating Cell-Free Tumor DNA Market, By Tumor Type:
  • Malignant Tumors
  • Precancerous Tumors
• Global Circulating Cell-Free Tumor DNA Market, By Cancer Type:
  • Lung Cancer
  • Colorectal Cancer
  • Breast Cancer
  • Others
• Global Circulating Cell-Free Tumor DNA Market, By Technology:
  • PCR
  • Massively Parallel Sequencing
  • Single Nucleotide Polymorphism
• Global Circulating Cell-Free Tumor DNA Market, By Application:
  • Cancer Diagnosis
  • Targeting Therapeutics
  • Prognosis Indication
• Global Circulating Cell-Free Tumor DNA Market, By Region:
  • North America
    
    • U.S.
    • Canada
  • Latin America
    
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    
    • South Africa
    • Central Africa
    • North Africa
      

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