The cell free dna (cfdna) testing global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cell Free DNA (cfDNA) Testing Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cell free DNA (cfDNA) testing market size has grown exponentially in recent years. It will grow from $7.07 billion in 2023 to $8.74 billion in 2024 at a compound annual growth rate (CAGR) of 23.6%. The growth in the historic period can be attributed to a rise in the adoption of cfDNA testing in prenatal care, increasing use of cfDNA analysis, growing interest in cfDNA research across various medical fields, and rise in gaining approvals from regulatory bodies.
The cell free DNA (cfDNA) testing market size is expected to see exponential growth in the next few years. It will grow to $20.63 billion in 2028 at a compound annual growth rate (CAGR) of 23.9%. The growth in the forecast period can be attributed to a shift towards personalized medicine, enhancements in healthcare infrastructure, aging population and increasing incidence of cancer, increasing adoption of precision medicine, increasing awareness and acceptance of liquid biopsy techniques, and increasing investment and funding in cfDNA research. Major trends in the forecast period include adoption of liquid biopsy technologies, advancements in Next-Generation Sequencing (NGS) technology, integration of AI and machine learning in cfDNA testing, development of point-of-care cfDNA tests, and implementation of cloud-based platforms for data storage and analysis.
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Scope Of Cell Free DNA (cfDNA) Testing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cell Free DNA (cfDNA) Testing Market Overview
Market Drivers –
The rising prevalence of cancer is expected to propel the growth of the cell-free DNA (cfDNA) testing market going forward. Cancer is a complex group of diseases characterized by the uncontrolled growth and spread of abnormal cells in the body. These cells can invade and destroy normal tissue and, if not controlled, can significantly harm the body. The prevalence of cancer is due to aging populations, shifts in lifestyle, environmental influences, and advancements in detection and diagnostic techniques. cfDNA testing detects genetic mutations associated with cancer at an early stage, often before symptoms appear. This allows for early intervention, improving patient outcomes and survival rates by identifying cancer in its initial stages. For instance, in February 2024, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization, there are expected to be over 35 million new cases of cancer in 2050, a 77% increase over the projected 20 million cases in 2022. Therefore, the rising prevalence of cancer is driving the growth of the cell-free DNA (cfDNA) testing market.
Market Trends –
Major companies operating in the cell-free DNA (cfDNA) testing market focus on developing innovative technologies, such as liquid biopsy tests that offer greater sensitivity, specificity, and efficiency in detecting cancer-related mutations and genetic alterations. Liquid biopsy tests refer to diagnostic procedures that allow oncologists to evaluate circulating cell-free DNA released by tumor cells, facilitating personalized, targeted therapy plans. For instance, in May 2023, Laboratory Corporation of America Holdings (Labcorp), a US-based life sciences company, launched Labcorp Plasma Focus, a new liquid biopsy test designed for patients with advanced or metastatic solid tumors. This test evaluates circulating cell-free DNA (cfDNA) released by tumor cells from a standard blood draw, making it minimally invasive and providing fast results. It enhances access to precision oncology by identifying clinically actionable biomarkers across several common cancers, such as non-small cell lung, colorectal, breast, esophageal, gastroesophageal junction, gastric cancers, and melanoma.
The cell free DNA (cfDNA) testing market covered in this report is segmented –
1) By Product: Donor-Derived Cell-Free DNA, Circulating Cell-Free Tumor DNA, Cell-Free Fetal DNA
2) By Platforms: Next Generation Sequencing (NGS), rPCR And Multiplexed PCR, qPCR And dPCR, Other platforms
3) By Application: Oncology, Non-Invasive Prenatal Test (NIPT), Gynecology, Transplantation, Other Applications
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Regional Insights –
North America was the largest region in the cell-free DNA (cfDNA) testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cell free DNA (cfDNA) testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the cell free DNA (cfDNA) testing market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Agilent Technologies Inc., Illumina Inc., Qiagen N.V., Exact Sciences Corporation, Bio-Techne Corporation, Natera Inc., Myriad Genetics Inc., NeoGenomics Laboratories Inc., Invitae Corporation, Foundation Medicine Inc., Guardant Health Inc., Integrated DNA Technologies Inc., Caris Life Sciences Inc., Twist Bioscience Corporation, Adaptive Biotechnologies Corporation, Biodesix Inc., Biocept Inc., Personal Genome Diagnostics Inc., Agena Bioscience Inc., Menarini Silicon Biosystems Inc., Circulogene Theranostics LLC
Table of Contents
1. Executive Summary
2. Cell Free DNA (cfDNA) Testing Market Report Structure
3. Cell Free DNA (cfDNA) Testing Market Trends And Strategies
4. Cell Free DNA (cfDNA) Testing Market – Macro Economic Scenario
5. Global Cell-Free DNA (cfDNA) Testing Market Size and Growth
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32. Global Cell-Free DNA (cfDNA) Testing Market Competitive Benchmarking
33. Global Cell-Free DNA (cfDNA) Testing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cell-Free DNA (cfDNA) Testing Market
35. Cell-Free DNA (cfDNA) Testing Market Future Outlook and Potential Analysis
36. Appendix
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