Market Analysis
The global liquid biopsy market is touted to reach USD 17, 372.28 million at a stupendous 28% CAGR over the forecast period (2015-2022). Liquid biopsy has turned into an emerging technology that is all set in revolutionizing cancer diagnostics as well as treatment. Also popularly known as fluid phase biopsy or fluid biopsy, this blood test technique is non-invasive in nature and offers surgeons, physicians and researchers the information concerning the patient’s cancer profile and the most ideal therapy for augmenting their rate of survival. Non-invasive and easy access to tumor genome, characterization of the new lesions, early diagnosis and detection of cancer, therapeutic target and drug identifications for treatment of cancer are some key benefits of liquid biopsy that improve the efficiency and safety for patient’s cancer therapy. Liquid biopsy indeed has a promising scope along the journey of the patient right from early cancer detection, diagnosis, therapy monitoring to monitoring recurrence.
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As opposed to early liquid biopsy research that mainly focused on prostate, lung and breast cancer, liquid biopsy will impact every form of cancer. The tolerability and convenience are the key boost to patients. It is an excellent alternative for patients that are not capable of undergoing the invasive tumor biopsy and enables various clinical applications which includes screening, mutation detection for therapy selection, drug resistance and response and disease prognosis. The best part about liquid biopsy is it needs simple blood draw which means repeated blood samples can be taken over the course of the treatment.
There are several factors that is driving the growth of the liquid biopsy market. These factors according to the MRFR report include growing prevalence of cancer, intensive research activities that is being conducted for determining liquid biopsy’s efficacy over the other diagnostic tests, increasing applications, increasing geriatric population, its many advantages over the solid tumor biopsy, increase in awareness concerning minimally invasive procedures, various favorable initiatives taken by the government, increasing private and public funding for supporting research activities in liquid biopsy, increasing product launches, collaborations between public organizations and companies and growing use of personalized medicine. On the contrary, factors such as unclear regulation and reimbursement scenario, availability of alternatives to liquid biopsy, and prohibitive costs are likely to impede liquid biopsy market growth.
Market Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the liquid biopsy market on the basis of biomarker type, application, sample and end-users
Based on biomarker type, it is segmented into extracellular vesicles (Evs), circulating tumor DNA (Ctdna), circulating tumor cells (Ctcs) and others. Of these, circulating tumor cells (CTCs) will have the largest share in the liquid biopsy market with regards to both revenues and market share.
Based on application, the liquid biopsy market is segmented into reproductive health, cancer therapeutic application and other forms of therapeutic application. Of these, cancer therapeutic application will dominate the market over the forecast period.
Based on sample, it is segmented into urine, blood and others.
Based on end-users, the liquid biopsy market is segmented into academic and research centres, hospitals and laboratories and others.
Regional Analysis
Based on region, the liquid biopsy market covers growth opportunities and latest trends across Americas, Europe, Asia Pacific and Middle East and Africa. Of these, North America will hold key share in the market owing to regulatory approvals made by CE for the commercial utilization of liquid biopsy. The US is the largest contributor in this region. Europe will grab the second largest share followed by the APAC region. In Europe, France and Germany will be the key contributors. The liquid biopsy market in the APAC region will grow at the fastest pace. India, Japan and China are the key contributors in this region. On the other hand, the market in Middle East and Africa is anticipated to have a steady growth over the forecast period.
Key Players
Leading players profiled in the liquid biopsy market include Exosome Diagnostics, SAGA Diagnostics AB, Inivata Ltd., Circulogene Theranostics, Biocept, Inc., Admera Health, Agena Bioscience Inc. Inc., RainDance Technologies, Inc., Trovagene, Inc.,Guardant Health, Inc., and others.
March 2019- Leading commercial liquid biopsy test provider, Biocept Inc., has expanded their pathology partnership platform for enabling local pathologists in analyzing predictive and prognostic markers on the CTCs from liquid biopsies through the ICC (immunocytochemistry) methods.
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