Circulating Cell-Free Tumor DNA Market is driven by Rising Cancer...

Circulating Cell-Free Tumor DNA Market is driven by Rising Cancer Cases

Posted 2024-02-23 10:13:02

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 growing incidence and prevalence of various cancers types globally has propelled the demand for non-invasive diagnostic and monitoring approaches. Circulating cell-free tumor DNA analysis provides an easy and repeatable method for early cancer detection and real-time assessment of treatment efficacy compared to tissue biopsies. With its high accuracy and sensitivity, liquid biopsies are gaining increasing acceptance among healthcare professionals. As diagnosis and treatment moves towards personalization based on tumor genomics, ctDNA testing volume is expected to grow exponentially worldwide.

The availability of commercial kits, reagents and sequencing technologies has enabled clinical laboratories globally to offer ctDNA tests. Leading market players are focusing on collaborations to develop new clinical grade assays and amplification kits to expand market presence. Growing awareness regarding advantages of liquid biopsies among patients and clinicians is further propelling the demand. Rising healthcare expenditure in developing countries presents new opportunities for market players.

Market Drivers

One of the key drivers fueling the Circulating Cell-Free Tumor Dna Market Growth is the growing incidence of cancer cases globally. According to WHO, cancer burden has risen to 18.1 million new cases and 9.6 million cancer related deaths in 2018. Growing geriatric population susceptible to developing various tumor types is positively impacting the ctDNA market. Significant funding and government support for new cancer diagnostic approaches especially in developed nations is boosting market revenues. Expanding applications of liquid biopsies for therapy monitoring the selection also presents lucrative growth opportunities during the forecast period.

The current geopolitical situation is having a significant impact on the growth of the circulating cell-free tumor DNA market. Global tensions between major world powers and regional conflicts have disrupted supply chains and international trade. As research and production of diagnostic technologies is spread across different countries and geographic regions, political instabilities pose challenges for the timely and cost-effective development of circulating ctDNA tests and assays. Manufacturers are facing delays and cost increases due to trade barriers, sanctions and transportation difficulties. This has slowed the pace of innovations and commercialization efforts in the market.

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