Rising incidence of cancer, benefits of liquid biopsy over solid tumor biopsy, availability of funding through conferences and government initiatives, are driving the growth of the global liquid biopsy products market.
New York City, NY -- (SBWIRE) -- 01/25/2017 -- Liquid biopsy is a test done on a sample of blood to detect cancer cells from a tumor that are circulating in the blood or for pieces of DNA from the tumor at early stage of cancer. To detect cancer at early stage, liquid biopsy is one of the most prominent tests being used. Liquid biopsy aids in planning the required treatment and also check for treatment effectiveness as well as repeated occurrence of tumor during and after the course of cancer treatment. In order to understand the molecular changes which are taking place in a tumor, multiple blood samples are taken over a period of time. Liquid biopsy blood test accurately detects key genetic mutations in most common forms of cancer such as the lung cancer. Liquid biopsy is recommended for non-small cell lung cancer (NSCLC), either at the time of first diagnosis or of relapse following previous treatment due to its reliability. Liquid biopsy is technically known as rapid plasma genotyping which involves taking a test tube-full of blood, which contains free-floating DNA from cancer cells, and analyzing that DNA for mutations or other abnormalities. Liquid biopsy provides a "snapshot" of key genetic irregularities in a tumor and is a common tool in cancer research for probing the molecular make-up of different kinds of cancers.
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Technological advancements, rising incidence of cancer, benefits of liquid biopsy over solid tumor biopsy, availability of funding through conferences and government initiatives, are driving the growth of the global liquid biopsy products market. However, unclear regulatory and reimbursement scenario is the area of concern which could limit the growth of the global liquid biopsy market during the forecast period.
The global liquid biopsy products market is expected to register remarkable CAGR during the forecast period from 2016 to 2026. The less invasive biopsies are able to address significant challenges associated with conventional biopsies such as, high level of invasiveness, incompleteness of cancer information acquired, associated post-biopsy serious medical complications and subsequent cost inclusions. The global liquid biopsy products market has gained considerable traction in the past decade owing to several clinical research studies such as the ones on circulating tumor cells and cell-free tumor DNA. Thus, the number of ongoing clinical trials that are due will be completed during 2016-2026. After successful completion the commercialization of these liquid biopsy products, assays and tests will provide the market a significant boost through 2026 in terms of revenue.
The global market for liquid biopsy product is segmented on basis of disease type, products & services, circulating biomarkers, end user and geography. The Liquid Biopsy Market, based on disease type (Type of Cancer) segmentation has been categorized into Lung Cancer, Colorectal Cancer, Breast Cancer, Liver Cancer, Prostate Cancer and Other Cancers (Melanoma, Bladder Cancer and Ovarian Cancer). On the basis of Products and Services, the global market has been segmented into Instruments, Reagents, Services and Software. By Circulating Biomarkers segmentation the global market has the segments of Circulating Tumor Cells (CTCs), Circulating Tumor DNA (ctDNA), Extracellular vesicles (EVs) and Other Biomarkers (Circulating RNA and Protein). The end users of liquid biopsy products are Hospital & Physician Laboratories, Academic & Research Centers, Reference Laboratories and Others End User (Public Health Laboratories, Pathology Laboratories, And Small Molecular Laboratories).
In 2016, largest share of the global market is expected to be accounted by North America due to factors such as easy accessibility and high adoption of advanced diagnostic technologies. The technologies like PCR and NGS play an important role. Also, among healthcare professionals, increasing prevalence of cancer in the U.S. and Canada and continuous technological advancements in liquid biopsy is remarkable. Asia-Pacific liquid biopsy products market is however estimated to witness the highest growth during the forecast period owing to the increasing focus of market players on this region.
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Some players operating in liquid biopsy products market are Biocept Inc., Myriad Genetics, Qiagen, Roche, Bio-Rad Laboratories Inc., Trovagene Inc., Guardant Health, Inc., Janssen Diagnostics, LLC, Fraunhofer - Gesellschaft, and MDxHealth S.A., Genomic Health to name a few.