Liquid Biopsy Market 2020 by Cancer Type, Application, Demand, Industry Growth, Trends, Business Opportunity, Challenges, Competative Landscape, Key Players & Forecast 2025
Nov 6, 2020
Increasing cancer prevalence, preference for non-invasive diagnostics techniques and shift towards personalized medicines are the key factors driving the global liquid biopsy market.
Dallas, United States - November 5, 2020 /MarketersMedia/ —
The global liquid biopsy market is anticipated to reach USD 6,014.2 million by 2025, growing at a CAGR of 33.4%. The current liquid biopsy market landscape is intricate with more than 50 corporations in the space steering the complete range of blood-based markers (e.g., ctDNA, CTCs, exosomes, miRNA, protein), technologies (e.g., dPCR, NGS), and application (e.g., early detection, diagnosis, treatment selection and disease monitoring), where liquid biopsies are utilized. The market is led by service providers with laboratory-developed test (e.g., Guardant Health, Foundation Medicine, Biocept,) consuming NGS-based pan-cancer methods. However, laboratory-developed tests presently seem to be adequate, IVD label could enable reimbursement, which is an important market moderator.
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Advances in Precision Oncology to Fuel Adoption Traction and Growth in Liquid Biopsy Market
Liquid biopsy tests are dedicated to specifically gauge into the cancer-causing molecules in order to derive maximum understanding about the cancer type to improve its therapeutic potency. Besides therapeutics and diagnostics, a new research report by Adroit Market Research on Liquid Biopsy Market suggests that extensive R&D expeditions for improved therapeutic breakthroughs pertaining to cancer treatments are underway to further improve growth prospects for liquid biopsy market.
With significant clinical trial activity going on in the liquid biopsy market, Roche at ASCO 2017, revealed their ctDNA surveillance kit, AVENIO, which could successfully detect minimal residual disease (MRD) in stage II and III colorectal cancer patients. Similarly, Grail, a company dedicated on early detection applications, exhibited their sequencing based liquid biopsy assay could capture 73% of mutations found in tissue samples from 124 metastatic breast, lung and prostate patients. Certainly, demonstration of approach validity and clinical efficacy will be crucial in numerous settings and the result of these studies will decide the magnitude to which liquid biopsies pierce the standard of care workflow.
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IN recent times, liquid biopsy is gaining fast track adoption momentum across healthcare centers, path labs and hospitals on the back of rising patient awareness and preferences for non-invasive therapeutics and diagnostics.
Additionally, federal governments across the globe are pumping in massive fund allocations to improve health outcome of their populace which is also likely to effectively improve and amplify growth potential in liquid biopsy market in the coming years. As initiatives for early detection and management soar heights, inclusion of advanced and minimally pervasive measures is gaining massive traction. The process ins a dependable medium to gauge into diagnostic possibilities as well as scope of relapse, besides understanding the effectiveness of cancer therapeutics in real time as well as for multiple cancer stages.
Liquid biopsy is conducted with the help of biofluid extraction following non-invasive guidelines and are suitable for test performance in blood as well as urine and saliva. With advanced liquid biopsies technologies in place, detection of mutations can be comprehended thus favoring precision medicine development for cancers. Notable advanced in precision therapeutics for cancer is opening up new avenues for liquid biopsy adoption and subsequent growth.
Countries across emerging regions such as India which has been reporting high instances of cancer is likely to augment futuristic growth prognosis in global liquid biopsy market as reliance on advanced non-invasive diagnostic measures soar high.
Asia Pacific is anticipated to be the fastest growing market through the forecast period. In this region rising income, increased urbanization, growing cancer cases, and government’s focus on healthcare facilities is driving the liquid biopsy market. However, there are substantial barriers to liquid biopsy adoption. A number of assays intended on high-cost next generation sequencing technology are not reimbursed, obstructing market uptake. Moreover, cost of the procedure is facilitating access to a larger population in India, Japan and China, which depend heavily on out-of-pocket expenditure. Worldwide, in the race of active clinical trials in liquid biopsy East Asia ranks second, while China bangs the maximum number of trials. Therefore, it is advised that companies must design and develop randomized controlled trials and inclusion in guidelines to encourage broader acceptance and favorable payer coverage in Asia Pacific.
Major players operating in the global liquid biopsy market are Biocept, Inc., Qiagen N.V., Roche Diagnostics, Bio-Rad Laboratories, Inc., Myriad Genetics, Inc., Menarini-Silicon Biosystems, Trovagene, Inc., Guardant Health, Inc. and Genomic Health, Inc. among others.
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Key segments of the global liquid biopsy market
Application Overview, 2017-2025 (USD Million)
• Early cancer screening
• Therapy selection
• Treatment monitoring
• Risk of recurrence
Cancer Type Overview, 2017-2025 (USD Million)
• Lung cancer
• Breast cancer
• Colorectal cancer
• Prostate cancer
• Other cancers
Circulating Biomarker Overview, 2017-2025 (USD Million)
• Circulating tumor cells (CTCs)
• Circulating tumor DNA (ctDNA)
• Other circulating biomarkers
Regional Overview, 2017-2025 (USD Million)
• North America
• US
• Canada
• Europe
• Germany
• United Kingdom
• France
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• Rest of the World
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About Us:
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
Contact Info:
Name: Ryan Johnson
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Organization: Adroit Market Research
Website: https://www.adroitmarketresearch.com/industry-reports/liquid-biopsy-market
Source: MarketersMedia
Release ID: 88984510
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