PMR Provides Circulating Tumor Dna Diagnostics Market Projections in its Revised Report, COVID 19 Pandemic Shaping Global Demand
In the current situation of restricted movement and reduced workforce, (due to COVID-19 Pandemic) new technologies have been developed to provide end-to-end automation in different sectors such as food processing. Automated systems are hired by the companies to ensure continued supply and manufacturing of products with the least manual interference
The advent of Health Information Technology (HIT) components such as electronic health records (EHR), hospital information systems (HIS), picture archiving and communication systems (PACS), and vendor neutral archives (VNA) has had just as transformational an impact on the overall healthcare sector as the concerns regarding security and privacy. Data theft, undue access to personal health records, and cyber-attacks are very real threats that the healthcare sector faces today.
Circulating tumor DNA is a component of naked DNA which is found in the bloodstream. Circulating tumor DNA comes from cancerous cells or tumors. Majority of circulating tumor DNA is found within the nuclease of the cells. Circulating tumor DNA are actually small pieces of DNA which include around 200 nucleotides in length. Circulating tumor DNA diagnostics is performed for various purpose. Circulating tumor DNA diagnostics is helpful for detecting the tumor. The detection of cancer by using the circulating tumor DNA diagnostics reduce the need of sample tumor tissue i.e. tumor biopsy. Circulating tumor DNA diagnostics also performed to guide the tumor-specific treatment. This method helps the doctor to determine the more appropriate option for the treatment of cancer.
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Increasing funding by the government for the development of test kits for the diagnosis of cancer is expected to boost the circulating tumor DNA diagnostics market over the forecast period. Also, the rising prevalence of cancer is the propelling growth of the circulating tumor DNA diagnostics market. Moreover, the high focus of biopharmaceutical companies to launch more improved test kits for the diagnosis of cancer is also expected to upsurge the revenue growth of circulating tumor DNA diagnostics over the next decade. Whereas, the lack of awareness about cancer among people in under-developing economies will also responsible for the sluggish growth of circulating tumor DNA diagnostics market over the forecast period. The high cost of the test kit may deter the growth of circulating tumor DNA diagnostics market to some extent.
The global circulating tumor DNA diagnostics market is classified on the basis of product type, end user and region.
Based on product type, circulating tumor DNA diagnostics market is segmented into the following:
- Test Kits
- Reagents
Based on end user, circulating tumor DNA diagnostics market is segmented into the following:
- Hospitals
- Diagnostics Laboratories
- Research Laboratories
- Academic Research Institutes
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The circulating tumor DNA diagnostics market is expected to significant growth over the forecast period owing rise in the research funding by the investor. Also, the rising prevalence of cancer around the globe is the key factor behind the robust growth of circulating tumor DNA diagnostics market. According to GLOBOCAN, in 2017 18.1 million cancer cases have been registered throughout the globe. By product type, the test kits segment gains the majority of the revenue share of circulating tumor DNA diagnostics market. Based on end user, the hospital is the lucrative segment for circulating tumor DNA diagnostics market while academic research centers segment is projected to grow at a significant pace than other end users of circulating tumor DNA diagnostics market.
Among the regional presence, North America is the lucrative region for circulating tumor DNA diagnostics market which is then followed by Europe. North America registers to be the leading revenue generating segment due to the presence of a large number of research facilities and biotechnology companies. North America and Europe cumulatively account for a substantial revenue share in circulating tumor DNA diagnostics market. However, due to high prevalence for cancer, along with strong demand for personalized medicine enables South Asia followed by the East Asia region to account for third leading revenue shareholder in global circulating tumor DNA diagnostics market. However, the Middle East and Africa is expected to account for being the least lucrative market for circulating tumor DNA diagnostics due to lack of awareness among the people in this geography.
Some of the key players across the value chain of Circulating tumor DNA Diagnostics market are Grail, Inc., Guardant Health, Inc., Biodesix, Inc., Exosome Diagnostics, Freenome Inc., LungLife AI, Inc., Inivata Ltd., Personal Genome Diagnostics, Inc., CellMax Life and others
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The report on Circulating tumor DNA Diagnostics market covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Historical Actual Market Size, 2014 - 2018
- Market Size & Forecast 2019 to 2029
- Supply & Demand Value Chain
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
- Market Drivers and Restraints
Regional analysis for Circulating tumor DNA Diagnostics market includes
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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