Dublin, Dec. 13, 2024 (GLOBE NEWSWIRE) -- The "Cell Free DNA (cfDNA) Testing Market Outlook to 2028 & 2033" report has been added to ResearchAndMarkets.com's offering.
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 during the historic period can be attributed to several factors, including the increased adoption of cfDNA testing in prenatal care, a growing utilization of cfDNA analysis, heightened interest in cfDNA research across various medical fields, and an increase in gaining approvals from regulatory bodies.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. 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 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%. In the forecast period, growth can be attributed to a shift towards personalized medicine, improvements in healthcare infrastructure, an aging population, and the increasing incidence of cancer. Additionally, the increasing adoption of precision medicine, growing awareness and acceptance of liquid biopsy techniques, and rising investment and funding in cfDNA research are contributing to this growth.
Major trends during this period include the 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 the implementation of cloud-based platforms for data storage and analysis.
The increasing prevalence of cancer is expected to drive the growth of the cell-free DNA (cfDNA) testing market in the future. For example, in February 2024, the World Health Organization (WHO) projected over 35 million new cancer cases by 2050, marking a 77% increase from the estimated 20 million cases in 2022. Hence, the increasing prevalence of cancer is fueling the growth of the cell-free DNA (cfDNA) testing market.
Key players in the cell-free DNA (cfDNA) testing market prioritize the development of innovative technologies, such as liquid biopsy tests that offer heightened sensitivity, specificity, and efficiency in detecting cancer-related mutations and genetic changes. For instance, in May 2023, Laboratory Corporation of America Holdings (Labcorp), a US-based life sciences company, introduced Labcorp Plasma Focus, a new liquid biopsy test tailored for patients with advanced or metastatic solid tumors.
This test evaluates circulating cell-free DNA (cfDNA) from tumor cells through a standard blood draw, ensuring minimal invasiveness and rapid results. It enhances access to precision oncology by identifying clinically actionable biomarkers across various common cancers such as non-small cell lung, colorectal, breast, esophageal, gastroesophageal junction, gastric cancers, and melanoma.
Research Scope
Markets Covered:
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
Key Companies Profiled: F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific Inc.; Laboratory Corporation of America Holdings; Quest Diagnostics Incorporated; Agilent Technologies Inc.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $8.74 Billion |
| Forecasted Market Value (USD) by 2028 | $20.63 Billion |
| Compound Annual Growth Rate | 23.9% |
| Regions Covered | Global |
The major companies profiled in this cell free DNA (cfDNA) testing market report include:
- 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
For more information about this report visit https://www.researchandmarkets.com/r/b6idkq
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