The global cell-free DNA testing market to grow at a CAGR of 26.5% during the forecast period 2017–2023 to aggregate $8.6 billion by 2023
Factors, such as the increasing number of cancers, rising incidence of babies with chromosomal disorders due to the increasing number of late pregnancies, and the increasing demand for non-invasive testing procedures, will foster the market growth during the forecast period.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Cell-free DNA Testing Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts: 2017–2023” (November 2017).
According to Infoholic Research, the cell-free DNA testing market is growing rapidly due to the increasing number of cancers, rising incidence of babies with chromosomal disorders due to the increasing number of late pregnancies, and the increasing demand for non-invasive testing procedures. The expensive test cost with less reimbursement facilities, lack of skilled healthcare professionals, and lack of standardization are some of the factors hampering the market growth. The cell-free DNA testing majorly find its application in gynecology, oncology, transplantation, and others. The demand for these is expected to increase in the future due to the rising prevalence of cancer, changing lifestyle, and unhealthy diet. According to the center of disease control and prevention, around 6,000 babies are born with Down syndrome every year that is nearly 1 in every 700 babies and the disease incidence is increased by about 30% between 1979 and 2003. Further, according to the study of World Health Organization, approximately 14 million new cancer cases were diagnosed and is expected to grow by about 70% over the next 2 decades.
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The “Global Cell-free DNA Testing Market” is expected to grow at a CAGR of 26.5% during the forecast period 2017–2023 to touch an aggregate of $8.6 billion by 2023.
The market is analyzed based on three segments, namely test types, applications, and regions. The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). In North America, the US and Canada are set to be the leading countries. Europe is set to be the second leading region and held more than 27.5% of the market share in 2016. In Asia Pacific, India, and China are the most attractive countries for the players, and holds huge business opportunities. RoW is set to be an emerging market in the next 5–6 years.
The test types covered in the report are cell-free fetal DNA tests (also referred as NIPT), circulating tumor DNA tests, and donor-derived cell-free DNA tests. Cell-free fetal DNA tests is the largest segment, as women are more career-oriented. The trend is seen in western countries to start a family at a late age leading to an increase in the average maternal age. This segment holds nearly 73% share of the total market and is expected to be on a positive year-on-year growth rate. Donor-derived cell-free DNA tests is the fastest growing segment. The rising number of organ donors, the increasing transplantation procedures, and the increasing healthcare awareness have made them the fastest growing segment of the market.
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“The cell-free DNA testing market is rapidily growing with an increase in the investments for developing advanced testing procedures and strategic acquisition, which can enhance the position of the market players. The increasing prevalence of cancer, advanced maternal age, and the increasing demand for non-invasive testing procedures are expected to provide a better opportunity for the increase in the use of these tests.” – Arpitha Shetty, Research Analyst (Research – Healthcare) at Infoholic Research
Further, the report aims to cover the below-mentioned points:
- Provides an in-depth analysis of the key business opportunities in countries and verticals
- Provides complete details about the various types of cell-free DNA tests
- Provides details of trending cell-free DNA tests in the market
- Provides complete details about the analysis of top 13 players
- Provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies