Liquid Biopsy Market Scope
Market Research Future (MRFR) believes that the liquid biopsy market would scale relentlessly at a solid CAGR of 28.0?tween 2020 and 2027 (evaluation period). MRFR also says that it is likely that the global industry would touch USD 17,372.28 million by the end of 2027.
Major Drivers and Top Impediments
Liquid biopsy has gained substantial ground, emerging as a solid alternative to traditional tumor biopsies, with the demand stemming from the urgent need for achieving maximum level of molecular information regarding cancer with minimum surgical invasion. With fast-paced innovations in NGS technology, liquid biopsies are touted to secure a major position in relation to cancer, in context of investigation and probe. Therapy and monitoring selection of breast cancer will remain the prime application of liquid biopsy in the years ahead. With that said, over the next few years, following the validation provided by rigorous clinical trials, liquid biopsy can emerge as the leading method of diagnosis for different types of cancers, such as pancreatic cancers and CNS. Apart from this, the surging demand for noninvasive procedures, as well as increasing spending on R&D based on liquid biopsy can further auger the market position.
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Various established as well as smaller firms are collaborating or are entering long-term agreements, to achieve a better ranking. Increase in joint ventures to pool in sufficient funds and combined expertise for carrying out exhaustive research activities should favor the global industry to a large extent. To cite an instance, in April 2021, OncoDNA partnered with Institut to study the liquid biopsy-based treatment technique for patients with neck and head cancer. This partnership will be combining OncoDNA’s blood based NGS test, OncoFollow, with Institut Curie’s biobanking SCANDARE analysis.
The biomarker types discussed are circulating tumor cells (CTCS), extracellular vesicles (EVS), circulating tumor DNA (CTDNA), and more.
Major applications are reproductive health, cancer, and many more.
Sample-based categories considered in the review study are blood sample, urine sample, forensic, and others.
Various end-users covered are academic and research centers, hospitals and laboratories, among others.
The liquid biopsy industry can be geographically categorized as Europe, MEA/Middle East & Africa, North America, along with Asia Pacific/APAC.
In 2016, the highest share of 37.95% in the global market was seized by North America and since then, the region has been charting a relentless upward trajectory backed by the alarming increase in cancer cases. This has fostered the need for effective screening while enhancing the competition level between biotech companies.
The European market will capture a noteworthy growth rate of 28.5% from 2020 to 2027, considering the large-scale investments on clinical trials proving the effectivity and exploring new applications of liquid biopsy.
The fastest growth rate of 29.7% will be procured by the APAC market, in view of the rising efforts of companies as well as governments to contain the escalating prevalence of cancer cases in the region. India, Japan, and China are the highest contributors in the regional market, thanks to the heightened preference for non-invasive treatment, and the advances in the healthcare infrastructure of these countries.
The well-known liquid biopsy service providers enlisted in the research report include Trovagene, Inc. (California), Exosome Diagnostics (Massachusetts), Inivata Ltd (UK), SAGA Diagnostics AB (Sweden), RainDance Technologies, Inc. (US), Admera Health (US), Circulogene Theranostics (Alabama), Guardant Health, Inc. (US), Agena Bioscience Inc. (California), Biocept Inc. KGaA (US), and many more.
Biodesix Announces is working on introducing its latest liquid biopsy blood-based 52-gene next generation sequencing test. The new addition to its series of molecular testing is expected to assist physicians arrive at crucial decisions during the treatment of patients in the shortest time.
Nonagen Bioscience, a reputed liquid biopsy company, has been given the green signal from the USFDA for Oncuria, the firm’s noninvasive bladder cancer test. Its multiplex immunoassay is up to 10 protein biomarkers within a single voided urine sample. Along with a weighted algorithm, these biomarker levels help evaluate the patient’s response to bacillus Calmette-Guerin, which is an attenuated tuberculosis vaccine acting as a nonspecific immune system stimulant. The test has been a success till now in treating residual bladder cancer.
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Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York,
New York 10013,
United States of America
+1 628 258 0071(US)
Email: [email protected]