The Insight Partners published latest research study on “Liquid Biopsy Market Forecast to 2027 – Covid-19 Impact and Global Analysis by Product & Services, Sample, Circulating Biomarker, Application, and End User.” The global liquid biopsy market was valued at US$ 3,861.49 million in 2019 and is projected to reach US$ 8,123.85 million in 2027; it is expected to grow at a CAGR of 9.9% during 2020–2027. The report provides trends prevailing in the global liquid biopsy market and the factors driving market along with those that act as hindrances.
Liquid biopsy is a revolutionary technology that is opening up various perspectives. The technology consists of isolation and detection of circulating tumor cells, circulating tumor DNA and exosomes, which provides genomic information of the cancer patients. Liquid biopsy are used in cancer diagnosis in order to study response or resistance to given treatments.
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The government for early detection of cancer takes various initiatives. For instance, the National Institutes of Health (NIH) started a new initiative called Precompetitive Collaboration on liquid biopsy for early cancer assessment. The purposes of this initiative are to establish a Public-Private Partnership Program for the development of new or validate existing technologies, methods, and assays for the capture and quantification of tumor-associated cells, RNA, DNA, or exosomes in body fluids of patients with an early-stage disease or those at high risk. This initiative emphasis early cancer detection by distinguishing aggressive and nonaggressive cancers, and differentiates benign disease from cancer.
The NCI’s commitment of funds towards R&D of clinical advanced technology will encourage the investigators to expand their research for early detection of cancer and accelerate clinical adoption of these promising technologies.
Browse key market insights spread across 195 pages with 125 list of tables & 76 list of figures from the report, “Liquid Biopsy Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product & Services (Equipment, Reagents & Kits, and Services), Sample (Blood Based, Urine Based, and Other Samples), Circulating Biomarker [Circulating Tumor Cells (CTC), Exosomes, and Free Nucleic Acid], Application [Noninvasive Prenatal Testing (NIPT), Oncology, Transplant Diagnostics, and Other Applications], and End User (Academic & Research Institutes, Hospitals, Reference Laboratories, and Other End Users)” in detail along with the table of contents: https://www.theinsightpartners.com/reports/liquid-biopsy-market
Liquid Biopsy Market: Competitive Landscape
Market leaders operating in the market have undertaken various organic growth strategies in the liquid biopsy Market. The liquid biopsy market majorly consists of the players such as Biocept, inc., Bio-rad laboratories, inc., Lunglife ai, inc, exosome diagnostics, F. Hoffmann-la roche ltd, Inivata ltd,Exact sciences corporation, Mdxhealth, qiagen,Thermo fisher scientific inc., among others. Several organic approaches, such as product launches, and expansion/relocation in the liquid biopsy market, have resulted in the positive growth of the market. Product launches help the company to strengthen its product offering and the customer base, which allows the company to hold a strong position in the market. Similarly, utilizing expansion activities, it is easy to venture into untapped economies and use the opportunities being offered.
Below is the list of the growth strategies done by the players operating in the liquid biopsy market:
In Mar-20, NuProbe completed Collaboration with Qiagen to develop next-generation sequencing (NGS)-based cancer diagnostic tests for non-invasive liquid biopsy
In Jan-2018, Thermo Fisher Scientific has Expanded Oncomine Portfolio for Liquid Biopsy and Immuno-oncology Clinical Research. The product is adding cell-free DNA panels, this is likely to delivers Fastest Liquid Biopsy Solution to the patients.
In Feb-19, Bio-Rad Received FDA approval for its liquid biopsy product namely,QXDx AutoDG ddPCR system. This product is likely to monitor molecular response to treatment among patients with chronic myeloid leukemia (CML)
In March-18, Thermo Fisher Scientific and Biocept Launch Commercial Liquid Biopsy Partnership.The collaboration is likely tobegin with the companies partnering to validate Thermo Fisher’s Oncomine next-generation sequencing (NGS) liquid biopsy panels in Biocept’s CLIA-certified laboratory
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European countries are also taking initiatives for early detection of cancer. For instance, the Innovative Medicines Initiative funded the CANCER-ID project, initiated on 1stJanuary 2015. It is a public-private partnership between the EU and the European pharmaceutical industry, which includes 38 partners from 13 European countries, along with groups from the US and a company in Singapore. These partners are brought together to develop and validate standardized operating procedures for liquid biopsies
According to the National Health Profile, the cases of common cancers, including cervical, oral, and breast cancers have increased by 324%in India between 2017 and 2018. Additionally, the total number of patients visiting Non Communicable Diseases (NCD) clinics have doubled from 2017 to 2018, which is recorded as 3.5 crore to 6.6 crore respectively. Rapid change in lifestyle and increasing consumption of alcohol and tobacco products are the factors increasing the incidences of cancer among the population.
Liquid Biopsy Market: Segmentations
Based on sample, the Liquid Biopsy market has been segmented into blood based, urine based, and other samples. The blood-based segment held the largest share of the market in 2019, and the same segment is estimated to register the highest CAGR in the market during the forecast period. Blood based is expected to remain dominate owing to its non-invasive and painless characteristics; it does not involve surgery and decreases the cost and diagnostic time.
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