A liquid biopsy is defined as a largely non-invasive, sampling and analysis of liquid state biological tissue, helpful in diagnostic and monitoring diseases such as cancer. Market Research Future (MRFR) has published a research report about the global liquid biopsy market that vaticinates immense extension for this market with 28% CAGR (Compound Annual Growth Rate) between 2015 and 2022. In terms of cash, the worth of this market has been estimated to be US $ 17,372.28 mn by the end of forecast period.
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The factors contributing to the growth of global liquid biopsy market include comparatively painless and non-invasive technique, early real time high precision detection of diseases, effective monitoring, designing treatment strategies, lifestyle changes, rising investment in research and development (R&D), collaborations between companies and public organizations, rise in geriatric population, and rising health expenditure. Other advantages of liquid biopsy over traditional tissue biopsy include potential applications to autoimmune diseases, cardiovascular diseases, etc.
The restraints that can harm the market growth during the forecast period include the prohibitive costs associated with liquid biopsy, and the differential awareness & availability between developing and the developed world. Also, early detection does not benefit all cancer patients as some cancers like brain cancer and prostate cancer may lie dormant for many years. Lastly, liquid biopsy is not all non-invasive. Use of spinal fluid as sample proves that.
The global liquid biopsy market has been segmented on the basis of application, biomarker type, end users, sample, and lastly region. Based on application, this market has been segmented into cancer therapeutic application, reproductive health, and other therapeutic application. During the forecast period, with regards to the therapeutic application, the Cancer segment will reflect the highest growth potential, with over 82.83% of the market share by revenues. By biomarker type, the market has been segmented into circulating tumor cells (CTCS), circulating tumor DNA (CTDNA), extracellular vesicles (EVS) and other biomarker. Not only CTCS segment dominates the market share, in terms of revenues, it contributes approx. 55.48% of the revenue share of the global liquid biopsy market.
On the basis of end users, the market has been segmented into academic & research centers, hospitals & laboratories, and others. The sample-based segmentation segments the market into blood, urine and others. The urine sample segment is expected to witness noticeable growth during the forecast period.
The regional segmentation of the global liquid biopsy market segments the market into continent-based regional markets namely The Americas, Europe, Asia Pacific, and Middle East & Africa (MEA). During the forecast period, the North America and Europe are expected to grow. The Americas is the largest regional market due to the availability of advanced medical technology, and increasing healthcare expenditures, especially in North America. North America alone holds the potential to be the largest regional market due to its strong economies that are as the United States of America (USA) and Canada. Many key market players are based in the USA. In this region, the availability of advanced medical facilities makes North America a bigger market than South America.
Europe is the second largest regional market. After North America, Europe has maximum technological advancement. The most important country-specific markets in this region are this region are France, Germany, Italy, Spain, and the United Kingdom (UK). According to the report, the Asia Pacific region is expected to emerge as the fastest growing regional market. In this region, the significant country-specific markets are Australia, China, India, Japan, and South Korea followed by the rest of Asia Pacific. During the forecast period, the Asia Pacific market is expected to grow at the 28.8% CAGR.
The MEA region shows limited market with slow and steady growth. The reasons for the slow market growth in this region are lack of awareness, lack of education, lack of technological development, political instability, poor access to treatment, poor healthcare facilities, and healthcare not considered a priority by most governments. The crucial country specific markets in this region are Egypt, Saudi Arabia, and the United Arab Emirates (UAE).
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Key Players
The key players in the global liquid biopsy market include Admera Health (USA), Agena Bioscience Inc. (USA), Biocept Inc. (USA), Circulogene Theranostics (USA), Exosome Diagnostics (USA), Guardant Health Inc. (USA), Inivata Ltd. (USA), RainDance Technologies Inc. (USA), SAGA Diagnostics AB (Sweden), and Trovagene Inc. (USA).
Latest Industry News
- Admera Health, is expanding its next generation sequencing (NGS) based LiquidGx™ test for solid tumor-targeted therapy selection from a blood sample. The new version is an extended version that increases the utility of the test subject. It raises the number of genes to 17 that includes detection of copy number variation and microsatellite instability. 23 OCT 2018
- A research firm BioFluidica has developed a chip that is capable of finding a single abnormal cell afflicted with cancer or other diseases. This innovation is likely to not only eliminate the need for painful biopsies and but also greatly reduce the cost of the procedure. 7 NOV 2018
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