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The Liquid Biopsy Market Registered US$ 1003.25 Mn in 2019 And It Is Estimated To Reach More Than US$ 7916.57 Mn By 2028, Likely To Grow With A CAGR Of 25.8 % During The Forecast Period
Liquid biopsy is a test wherein blood samples from the tumour are tested to detect for the cancerous cells. Human blood contains two types of cancer-derived materials namely CTCs (circulating tumour cells) and cf(DNA) free circulating. Liquid biopsy is a non-invasive method of detecting cancerous cells which is shed into the bloodstream of a patient suffering from cancer.
The Benefits Offered By the Liquid Biopsy Method In Detecting Cancers Has Led To The Growth Of The Liquid Biopsy Market
Liquid biopsy is nothing but sampling and analysis of blood to detect the cancerous cell present in the bloodstream. The greatest advantage of liquid biopsy is, it is largely non-invasive and can be done frequently in order to track mutations and tumours over time. The test results obtained from the liquid biopsy are quick and the test results are available much faster when compared with tissue biopsy. The easiness of liquid biopsy test helps in easy monitoring of patient's progress and at the same time, it helps to better identify therapeutic targets. Moreover, this testing method is can detect up to 20 cancer types and also helps in identifying the type of cancer. Besides this, it can detect pancreatic and ovarian cancer easily when compared with the imaging techniques. The false rate of imaging technique is high in detecting pancreatic and ovarian cancers. Going further, this blood screening technique is logistically easier and less costly when compared with the imaging technique
Growing Prevalence Of Cancer Across The Globe To Indirectly Help The Liquid Biopsy Market To Expand at Rapid Pace
Cancer is one of the chronic diseases which affected several million across the globe. The prevalence of cancer is expected to increase among the people owing to factors such as smoking & tobacco, lifestyle activity, exposure to radiation, viruses and abnormalities in genes. Moreover, initiatives taken by government and growing phenomena of personalized medicine have led to the adoption of liquid biopsy test methods
The Assay Kits Segment is expected to Witness Highest Growth in the Global Liquid Biopsy Market across the Globe
On the basis of product and services, the assay kits segment is projected to grow at a highest CAGR of 24.2% over the forecast period. This is mainly due to the rising adoption of assay kits in liquid biopsies. The assay kits offer reliable and advanced treatment for specific cancer types, which is helping the segment to grow at a significant pace.
However, certain regulatory and technical limitation related to single gene assays might hamper the growth of the segment which will eventually put a negative impact on the growth of global market during the forecast period.
The North America Is expected to dominate the Liquid Biopsy Market during the Forecast Period
The North America accounted for over 33.5 % of global revenue share of Liquid Biopsy market in 2018 and this trend is expected to continue over the forecast period. Adoption of liquid biopsy technique and Presence of companies involved in liquid biopsy has contributed towards the growth of the North America region.
North America has the highest market share in the liquid biopsy market. The established companies and new start-ups are the major force behind the growth of this market in this region. Also, the adoption of genomics in studying and treating cancer disease is the major booster for the growth of this biopsy technique in this market. The U.S is the major contributor towards the growth liquid biopsy market in the North America region. The Asia Pacific region is expected to grow at the fastest rate owing to the easy test methods and low cost. Countries like Japan, China, and South East Asian countries are at the major countries contributing towards the growth of the liquid biopsy market in APAC region. Besides this, high population base and high prevalence of cancer among the population are the factors that will supplement the market growth
Continuous Research to Achieve the Perfect Sensitivity is the Strategy Adopted by the Players Present in This Market
The DNA sequencing was used routinely for detecting non-cancer applications. Currently, liquid biopsy not have similar kind of sensitivity when compared with tissue biopsy and is not yet considered as a standard testing procedure. As of now, companies use this test as a complimentary test with tissue biopsy. Also, they are continuously involved in clinical trials to test the validation through accuracy and ability to detect cancer type.
Global Liquid Biopsy market is fragmented among the number of local and global players. Key players operating in the global Liquid Biopsy market are Roche Diagnostics, Biocept, Inc., Genomic Health, Inc., QIAGEN N.V., Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Myriad Genetics, Inc., Menarini Silicon Biosystems, Illumina, Inc., Thermo Fisher Scientific Inc., Trovagene, Inc., RainDance Technologies, Inc., Guardant Health, Inc., and MDxHealth SA.
Liquid Biopsy Market by Products and Services
- Assay Kits
Liquid Biopsy Market by Application
- Cancer Application
- Breast (Female – Male)
- Colon and Rectal (Combined)
- Kidney (Renal Cell and Renal Pelvis) Cancer
- Lung (Including Bronchus)1
- Prostate & Pancreatic
- Non-Cancer Application
Liquid Biopsy Market by End-User
- Academic & Research Centres
Liquid Biopsy Market by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa