Liquid Biopsy Market to Surpass US$ 8.1 Billion Threshold by 2025
The global liquid biopsy market by Products & Services (Reagents & Kits, Equipment, and Services), By Sample (Cell Free DNA, Circulating Tumor Cells, and Exosomes), By Application (Oncology Testing, Non-Invasive Prenatal Testing, and Transplant Care), By End User (Hospitals, Research Laboratories, Diagnostic Laboratories, and Patients), and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) nwas valued at US$ 1,824.7 million in 2016 and is projected to exhibit a CAGR of 18.3% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Advantages offered by liquid biopsy over conventional tissue biopsies such as early detection, and avoidance of biases in results due to cancer heterogeneity, rising prevalence of cancer, and increasing awareness and demand for minimally invasive procedures is expected to fuel growth of the liquid biopsy market.
Manufacturers are focusing on upgrading their biopsy tests as well as developing new and innovative liquid biopsy tests for detection of various cancers such as breast cancer. The U.S. Food & Drug Administration granted first liquid biopsy approval to Roche Cobas EGFR Mutation Test v2 in 2016 and the company launched Avenio ctDNA analysis kits for oncology research in May 2017. Biocept—a leading provider of liquid biopsy tests—obtained patent in Australia for Target Selector assay in January 2018. Furthermore, Fluxion Biosciences launched Erase-Seq NGS liquid biopsy analysis service, which can be used for wide range of targeted cancer panels in January 2018. In 2016, Illumina launched a new company GRAIL, focused on blood based cancer screening involving use of measuring circulating tumor DNA (ctDNA) in the blood. Furthermore, Natera—a leader in non-invasive prenatal testing—launched Signatera ctDNA assay, in August 2017. Sequenom Laboratories launched MaterniT GENOME non-invasive prenatal test in 2015, which provided comprehensive genome-wide information and was later acquired by LabCorp in 2016. Qiagen N.V. acquired innovative circulating tumor cell technology from AdnaGen and partnered with Tokai Pharmaceuticals to combine this technology to co-develop and commercialize diagnostics for Tokai’s novel drug, Galeterone, in 2015.
Get The Holistic SAMPLE With Research Methodology:
Manufacturers are increasing investment in developing advanced liquid biopsies for improved disease detection and diagnosis. Furthermore, increasing research and development in the same by such manufacturers is supporting growth of the liquid biopsy market. PlaqueTec Ltd. announced first peer reviewed publication for its PlaqueTec Liquid Biopsy System to detect biomarkers for coronary artery disease in January 2018. OncoCyte Corporation presented positive data from its most recent breast cancer diagnostic test study, in December 2017. Moreover, Exosome Diagnostics published a study showing superior performance of ExoLution Plus Liquid Biopsy platform in lung cancer, in December 2017. Qiagen and Clinical Genomics collaborated for studies on liquid biopsies, to monitor patients for recurrence of colorectal cancer by detecting circulating DNA, in August 2017. In 2016, Guardant Health entered into partnership with Robert H.Lurie Comprehensive Cancer Center of Northwestern University for Guardant360, which will be the preferred liquid biopsy test used in the cancer center.
Key Takeaways of the Liquid Biopsy Market:
The global liquid biopsy market is expected to exhibit a CAGR of 3% over the forecast period (2017–2025), owing to increasing research and development in the liquid biopsy studies and associated product launches by the key players such as Guardant Health
Strong competition in the market has led to increasing focus on continuous development, as manufacturers strive to stay competitive in the market. This is expected to aid in market growth over the forecast period.
Increasing application and effectiveness of liquid biopsy in diagnosis of various cancers such as colorectal cancer, breast cancer, and diseases such as coronary heart disease is expected to boost growth of the liquid biopsy market over the forecast period
North America region is expected to witness significant growth owing to presence of players such as Biocept and presence of research oriented players such as Guardant Health, Inc.
Major players operating in the liquid biopsy market include Illumina, Inc., Roche AG, Natera, Inc., Laboratory Corporation of America Holdings (LabCorp), Qiagen N.V., Thermo Fisher Scientific Inc., Exact Sciences Corp., Biocept, Inc., Genomic Health, Inc., Guardant Health, TrovaGene Inc., CareDx Inc., Adaptive Biotechnologies Corporation, and Biocartis SA.
Ask For Customisation:
You may be interested
Global Metallic Couplings Market by Type, Deployment, Industry, Approach, and Geography- Forecast to 2026Albert R - December 14, 2018
According to the new market research report on "Global Metallic Couplings Market Report 2018 - 2026” covers there Product Type, Region Coverage, Application or End-user, Industry Insights…
Essential Insights to Know About the Global Mining Lubricant Market Report 2018Albert R - December 14, 2018
According to the new market research report on "Global Mining Lubricant Market Report 2018 - 2026” covers there Product Type, Region Coverage, Application or End-user, Industry Insights…
Global Metformin Hydrochloride Market – Statistics, Facts and Forecast to 2026Albert R - December 14, 2018
According to the new market research report on "Global Metformin Hydrochloride Market Report 2018 - 2026” covers there Product Type, Region Coverage, Application or End-user, Industry Insights…