Technological advancements, rising incidence of cancer, benefits of liquid biopsy over solid tumor biopsy, availability of funding through conferences and government initiatives, are driving the growth of the global liquid biopsy products market. However, unclear regulatory and reimbursement scenario is the area of concern which could limit the growth of the global liquid biopsy market during the forecast period.
The global liquid biopsy products market is expected to register remarkable CAGR during the forecast period from 2016 to 2026. The less invasive biopsies are able to address significant challenges associated with conventional biopsies such as, high level of invasiveness, incompleteness of cancer information acquired, associated post-biopsy serious medical complications and subsequent cost inclusions. The global liquid biopsy products market has gained considerable traction in the past decade owing to several clinical research studies such as the ones on circulating tumor cells and cell-free tumor DNA. Thus, the number of ongoing clinical trials that are due will be completed during 2016-2026. After successful completion the commercialization of these liquid biopsy products, assays and tests will provide the market a significant boost through 2026 in terms of revenue.
The global market for liquid biopsy product is segmented on basis of disease type, products & services, circulating biomarkers, end user and geography. The Liquid Biopsy Market, based on disease type (Type of Cancer) segmentation has been categorized into Lung Cancer, Colorectal Cancer, Breast Cancer, Liver Cancer, Prostate Cancer and Other Cancers (Melanoma, Bladder Cancer and Ovarian Cancer). On the basis of Products and Services, the global market has been segmented into Instruments, Reagents, Services and Software. By Circulating Biomarkers segmentation the global market has the segments of Circulating Tumor Cells (CTCs), Circulating Tumor DNA (ctDNA), Extracellular vesicles (EVs) and Other Biomarkers (Circulating RNA and Protein). The end users of liquid biopsy products are Hospital & Physician Laboratories, Academic & Research Centers, Reference Laboratories and Others End User (Public Health Laboratories, Pathology Laboratories, And Small Molecular Laboratories).
In 2016, largest share of the global market is expected to be accounted by North America due to factors such as easy accessibility and high adoption of advanced diagnostic technologies. The technologies like PCR and NGS play an important role. Also, among healthcare professionals, increasing prevalence of cancer in the U.S. and Canada and continuous technological advancements in liquid biopsy is remarkable. Asia-Pacific liquid biopsy products market is however estimated to witness the highest growth during the forecast period owing to the increasing focus of market players on this region.
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Some players operating in liquid biopsy products market are Biocept Inc., Myriad Genetics, Qiagen, Roche, Bio-Rad Laboratories Inc., Trovagene Inc., Guardant Health, Inc., Janssen Diagnostics, LLC, Fraunhofer – Gesellschaft, and MDxHealth S.A., Genomic Health to name a few.
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