According to the market research report Liquid Biopsy Market is expected to reach $5.8 billion by 2026 from USD 2.5 billion in 2021, at a CAGR of 18.1%
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The
key factors driving the growth of this market include increasing
prevalence of cancer, increasing preference for noninvasive procedures,
initiatives undertaken by government and global health organizations,
technological advancement to augment market revenues, rising emphasis on
personalized medicine, and availability of funding for liquid biopsy
R&D.
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> Liquid Biopsy: Market Overview
> Liquid Biopsy Market, By Clinical Application (2017)
> Liquid Biopsy Market: Geographic Growth Opportunities
> Liquid Biopsy Market: Geographic Mix
> Liquid Biopsy Market: Established vs. Emerging Markets
On
the basis of product, the Liquid Biopsy Market is broadly segmented
into assays kits, instruments, and services. In 2017, the assay kits
segment is expected to account for the largest share of this market. The
increase in basic research and commercial applications of liquid
biopsy, increase in demand for liquid biopsy tests, and the need for
reliable and specific assays are expected to drive the market growth.
Based
on clinical application, the Liquid Biopsy Market is segmented into
early cancer screening, therapy selection, treatment monitoring, and
recurrence monitoring. The therapy selection segment is expected to
account for the largest share of the Liquid Biopsy Market in 2017. This
is due to the ability of therapy selection to detect advanced-stage
cancers (stage III and IV), followed by increasing studies on liquid
biopsy and advancements made in this field to also aid in detection of
early-stage cancers.
Based on circulating biomarkers the market
is categorized into circulating tumor cells (CTCs), circulating tumor
DNA (ctDNA), cell-free DNA (cfDNA), extracellular vesicles (EVs), and
other circulating biomarkers. In 2017, the circulating tumor cells
segment is expected to account for the largest share of the Liquid
Biopsy Market. The ability for early assessment of patient prognosis and
also providing valuable information to make a clinical decision is
driving the growth of the CTC segment in the Liquid Biopsy Market.
Opportunity: Growing interest in liquid biopsy
The
growing demand for noninvasive and easy sample collection and the
faster diagnosis of cancer is driving the growth of the liquid biopsy
market. With huge investments and growing evidence of the
uses/applications of liquid biopsy, companies are increasingly looking
to move into the liquid biopsy market. the market is witnessing a surge
in the number of inorganic developments such as partnerships,
collaboration, agreements, mergers, and acquisitions; as many as 22
inorganic developments were recorded in this market between January and
June 2017. Companies are focusing on inorganic strategies primarily to
obtain access to innovative technologies of other players. Companies are
also teaming up with universities and cancer institutes to gain robust
R&D expertise.
Challenge: Unclear regulatory and reimbursement scenarios
The
Liquid Biopsy’s market growth is plagued by several challenges. The
liquid biopsies are classified as Laboratory – developed tests, (LDT).
The US FDA recently proposed a draft to increase regulations on LDTs;
however, till date, the LDT regulation remains unclear. Increased
regulations on LDTs by the FDA could dramatically slow the growth of the
molecular diagnostics industry as well as liquid biopsy technologies.
This is also likely to increase the costs associated with introducing
new tests and delay their introduction in the market.
Some of
the other players competing in this market are QIAGEN N.V.
(Netherlands), Roche Diagnostics (US), Bio-Rad Laboratories Inc. (US),
Myriad Genetics, Inc. (US), Menarini Silicon Biosystems (Italy), Genomic
Health, Inc. (US), Thermo Fisher Scientific Inc. (US), Illumina, Inc.
(US), Biocept, Inc. (US), Trovagene, Inc. (US), Guardant Health, Inc.
(US), RainDance Technologies, Inc. (US), and MDxHealth SA (US).
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North
America is expected to account for the largest share of the global
liquid biopsy market in 2017, while Asia Pacific is expected to witness
the highest growth during 2017 to 2022. Growing demand for non-invasive
treatment, rising incidence of cancer, and improving healthcare
infrastructure are driving the growth of the liquid biopsy market.
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