Global Liquid Biopsy Market to experience hike in growth by 2024
Sarasota, FL -- (SBWIRE) -- 10/11/2017 -- Global Liquid Biopsy Market: Overview
A liquid biopsy is testing of a sample of blood of tumor circulating within blood or pieces of DNA of the tumor to detect cancer cells. A liquid biopsy is done at an early stage to detect cancer; it is the most prominent test which is used to detect cancer. This test is used while planning cancer treatment to check the effectiveness of the treatment and also to check repeated tumor occurrences while cancer treatment is going on. Multiple blood samples are taken over the period to understand changes in molecular structure. Liquid biopsy test accurately detects genetic mutation to verify the existence of cancer such as lung cancer, gastrointestinal, leukemia, lymphoma, and breast cancers.
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Main factors fueling the demand for diagnostics using liquid biopsy are growing incidences of lung cancer, gastrointestinal cancer, and breast cancer. Other major factors driving the demand for the global liquid biopsy market are growing inclination of physician and oncologists to opt for diagnostic with non-invasive procedures, the unwillingness of the patients to have painful biopsies and surge in the demand for personalized medicine. Many pharmaceutical and biotechnology companies are aggressively boosting the demand for liquid biopsy for anti-cancerous drug invention and development. Government funding for research and development in the area of clinical trials for diagnostics, treatments, and prevention of cancers are also driving the global liquid biopsy market. However, higher cost associated with liquid biopsy compared to conventional techniques of diagnostic, and little awareness about liquid biopsy checks pose challenges to the growth of the global liquid biopsy market.
The global liquid biopsy market is fragmented as maker type, sample type, disease indication and end user.On the basis of marker type, the global market is divided as circulating tumor cells, circulating tumor nucleic acids and exosomes. The global liquid biopsy market on basis of sample type is further categorized into urine, blood, plasma, CSF and saliva. Based on disease indication, the global market is further classified into gastrointestinal cancer, breast cancer, lung cancer, leukemia, prostate cancer and other. The end user segment is segregated as hospitals, cancer institutes, diagnostic centers, and academic institutes.
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Geographically, the global liquid biopsy market spread across North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. North America is expected to have major growth in the global liquid biopsy market owing to a high number of clinical development projects, accessibility, availability and high presence of advanced technologies in diagnostics such as PCR and NGS. In addition, growing prevalence of cancer in this region may foster the global market growth. In Europe, the global liquid biopsy market is also anticipated to witness favorable growth in coming years due to rising cases of lung cancer. In Asia-Pacific, the global market will witness ample growth in future due to the large presence of population, old ages patients, and implementation of advanced healthcare practices.
Market Competitive Players
Major players in the global liquid biopsy market are Myriad Genetics, Roche, Guardant Health, Inc., Janssen Diagnostics, LLC, and MDxHealth SA. Other players influencing the global market are BIOCEPT, Inc., QIAGEN, Trovagene Inc., Fraunhofer-Gesellschaft, and Natera, Inc.
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Liquid Biopsy Market by Geographical Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa
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