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 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Circulating cell-free tumor DNA offers a non-invasive method for cancer screening, diagnosis, and treatment monitoring. It can be extracted from blood samples with a simple, painless blood draw rather than invasive tissue biopsies. The methodology allows real-time monitoring of tumor mutations during therapy.
Weakness: Circulating cell-free tumor DNA analysis requires very sensitive technologies to detect the low concentrations of tumor DNA present in blood compared to normal cell-free DNA from other tissues. Samples need to be processed rapidly to minimize DNA degradation.
Opportunity: The non-invasive nature enables repeat sampling to dynamically monitor treatment response and track disease progression or recurrence. This approach has potential for use in cancer screening for early detection when tumors shed DNA into the bloodstream before symptoms appear.
Threats: Complications from tissue biopsies are decreasing as technologies improve, diminishing the advantages of a liquid biopsy. Reimbursement policies have not been established for use of circulating tumor DNA for routine cancer management.
Key Takeaways
The Global Circulating Cell-Free Tumor DNA Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 6.1 billion by 2023, indicating a CAGR of around 6.4% during the forecast period.
Regional analysis: North America currently dominates the market due to advanced healthcare facilities and growing adoption of non-invasive diagnostic technologies for liquid biopsy-based cancer management. The Asia Pacific region is expected to witness fastest growth over the coming years driven by rising cancer incidence, increasing research activity, and growing healthcare expenditures in China and India.
Key players: Key players operating in the circulating cell-free tumor DNA market include BASF SE, Perstorp Holding AB, Chemoxy International Ltd., and Merck Group. BASF has a strong portfolio of enzymes for synthesis of chemical and pharmaceutical intermediates. Perstorp is a global leader in oxo-alcohol and acrylate esters used in coatings, construction materials, and personal care products.
Explore more information on this topic, Please visit –
https://www.ukwebwire.com/circulating-cell-free-tumor-dna-market-demand-and-growth-analysis/
Explore more trending article on this topic –
https://www.ukwebwire.com/circulating-cell-free-tumor-dna-market-size-share-growth-outlook-2023/
Explore more trending article related this topic –
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek