Liquid Biopsy Market is Predicted to Grow at a CAGR of 20.6% by 2027
VALLEY COTTAGE, N.Y. –The global demand for liquid biopsy test is increasing as a result of rapid adoption of new technologies and increasing adverse patient-related cases. In its report titled Liquid Biopsy Market – Global Industry Analysis and Opportunity Assessment, 2016–2026, FMI has presented an in-depth analysis of the liquid biopsy market for forecast period 2016–2026. Developed economies are witnessing rapid adoption of liquid biopsy test as it provides proper decision support regarding anti-cancerous drugs to doctors, physicians and oncologists. As well expected, North America is expected to dominate the overall liquid biopsy market in terms of revenue generation throughout the forecast period. A false positive occurs when the sample indicates cancer, even if no danger is actually present – either because the tumor has already been caught or eradicated by the immune system or because it continues to grow so slowly that it will not harm the patient in his or her lifetime. False positive results can lead to overtreatment, which may do more damage than good in the long run.
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In-Depth Analysis of the Global Liquid Biopsy Market
Key segments in the liquid biopsy market are circulating tumour cells, circulating tumour nucleic acid and exosomes, in which the circulating tumour cells biomarkers is expected to hold major share in the liquid biopsy market over the forecast period, as CTCs have enhanced clinical applications which include prediction of cancer prognosis; selection and monitoring of therapeutic treatment; and drug targeted therapy. In the liquid biopsy market, North America is expected to be the most lucrative regional market in terms of revenue generation, followed by Western Europe. Ageing population in Japan and rising incidence of cancers are factors expected to fuel the adoption of liquid biopsy procedure and drive the growth of the liquid biopsy market in Japan. The liquid biopsy market in APEJ is expected to witness significant growth due to increasing awareness and increasing prevalence of cancer in the region. However, limited access to financial resources and lack of effective R&D are factors expected to dent the revenue growth of the liquid biopsy market in the region.
Currently, liquid biopsy is gaining huge acceptance by diagnostic laboratories and research institutes for diagnosis of various chronic diseases including cancer. Critical information about cancer can be detected through liquid biopsy procedures, involving a biofluid sample – blood or urine. These liquid biopsy tests can eliminate numerous problems associated with tissue biopsies. Also, liquid biopsy provides a detailed view of a tumor’s genetic makeup including complete molecular information of a tumor. Thus providing huge scope for the companies to launch innovative tests in the liquid biopsy market.
Strategies Adopted by Companies in the Global Liquid Biopsy Market
The companies in the liquid biopsy market are introducing innovative molecular diagnostic tests as means for boosting incremental innovation. These innovative molecular diagnostic tests are minimally invasive. Also, liquid biopsy tests provide less-expensive way to monitor patients throughout treatment. For example, in June 2016, Trovagene developed Trovera – a urine-based liquid biopsy test to detect and monitor cancer. This eliminates the need to have repeat surgical biopsies. Genomic Health, Inc. launched a liquid biopsy test called Oncotype SEQ Liquid Select to detect genomic alterationsm with late-stage lung, breast, colon, melanoma, ovarian or gastrointestinal cancer.
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Liquid biopsy companies are partnering with pharmaceutical companies. Major liquid biopsy diagnostic companies are entering into strategic alliances with pharmaceutical companies with the objective to develop anti-cancer drugs and liquid biopsy tests in order to attain leadership position in the liquid biopsy market. Biocept, Inc. a liquid biopsy company entered into a services agreement with a biopharmaceutical company to develop targeted liquid biopsy tests for multiple tumor types and molecular targets. Companies Biocartis and Merck KGaA signed a collaborative pact to develop and commercialize a new liquid biopsy RAS biomarker test in 2016 – to aid patients with metastatic colorectal cancer.
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