Impact Analysis of Covid-19
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The global liquid biopsy market is estimated to accumulate over US$ 3,535.1 million, in terms of value, by the end of 2027.
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Of the two different test categories for liquid biopsies, one is based on the type of material analyzed in the test, while the other is based on the type of analysis that is performed to detect or monitor cancer. On the basis of material type, the global liquid biopsy market can be segmented into analysis of tumor cells, analysis of free DNA, analysis of Exosomal DNA, and analysis of miRNAs. Moreover, based on the analysis type, the global market can be fragmented into small-scale mutation analysis and targeted deep sequencing, analysis of structural changes, large-scale mutation analysis by next-generation sequencing, and analysis of copy number alterations.
Rising inclination towards non-invasive diagnostic procedures is a vital factor expected to boost the global liquid biopsy market growth over the forecast period. Liquid biopsy offers non-invasive diagnostic tests for detecting cancer. It results in lower morbidity compared to conventional biopsy. Moreover, liquid biopsy can offer a better insight of all the tumor profiles and genetic mutations in a patient.
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Hence, cooperation among bioinformatics specialists, biochemists, and physicians enhances the adoption of liquid biopsy across the globe. Parallel investigation of conventional biopsy and liquid biopsy is required to assess the efficacy of liquid biopsy in diagnosis of cancer.
However, access to a limited number of genes acts as a major hindrance for the growth of the global market. Tissue biopsy allows oncologists and doctors to assess multiple genes simultaneously. However, in liquid biopsy, blood and urine tests provides access to one gene at a time, which might not provide accurate companion diagnosis to start the treatment.
The CTC (Circulating Tumor Cells) segment in the global liquid biopsy market had acquired US$ 416.7 million in 2019, and is now estimated to reach US$ 1,710.8 million by 2027 at a CAGR of 19.3% during the forecast period. Increasing prevalence of cancer is a major factor propelling growth of the global liquid biopsy market over the forecast period.
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The blood sample segment led the global liquid biopsy market in 2019, accumulating a 93.6% share, in terms of value. Growing preference for non-invasive diagnostic procedures would potentially propel the growth of the global liquid biopsy market in the foreseeable future.
The adoption of Artificial Intelligence (AI) in liquid biopsy is rapidly increasing. For instance, Freenome, an AI genomics company based in the U.S., is focused on developing blood tests to detect the body’s early-warning signs of cancer, using AI. In October 2018, the company presented early data in R&D for using machine learning to detect colorectal cancer at its earliest stages.
The well-known companies operating in the global liquid biopsy market include Biocept, Inc., Qiagen N.V., Trovagene, Inc., Janssen Global Services, LLC, MDxHealth SA, Natera, Inc., F. Hoffmann-La Roche Ltd., Silicon Biosystems, Pathway Genomics Corporation, and Sysmex Corporation.
In February 2020, QIAGEN N.V launched its FFPE and liquid biopsy PIK3CA diagnostics in Europe as an aid in identifying breast cancer patients with a phosphatidyl 3-kinase catalytic subunit alpha (PIK3CA) mutation. Furthermore, in January 2020, Zomedica Pharmaceuticals Corp., a veterinary diagnostic and pharmaceutical company, announced completing the development and manufacturing of its reference lab cancer liquid biopsy platform for canine cancers.
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Scope of the report
- Liquid Biopsy Market, By Biomarker Type:
- CTC (Circulating Tumor Cells)
- ctNA (Circulating Tumor Nucliec Acids)
- Liquid Biopsy Market, By Sample Type:
- Liquid Biopsy Market, By Disease Indication:
- Lung Cancer
- Gastrointestinal Cancer
- Prostate Cancer
- Breast Cancer
- Colorectal Cancer
- Liquid Biopsy Market, By End User:
- Cancer Institutes
- Academic Institutes
- Diagnostic Centers
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