A recent report published by Infinium Global Research on the liquid biopsy market provides an in-depth analysis of segments and sub-segments in the global as well as regional liquid biopsy market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional liquid biopsy market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global liquid biopsy market. According to the report, the global liquid biopsy market is projected to grow at a CAGR of 19.45% over the forecast period of 2020-2026.
Liquid biopsy is growing as a minimally invasive, repeatable, and reasonable strategy for accessing the tumor DNA, understanding the tumor heterogeneity, checking remedial adequacy, anticipation, prognosis, acquired resistance to therapy, and disease resistance in cancer. FDA has validated and approved liquid biopsy for circulating tumor cells as a useful prognostic method for various types of cancer. Liquid biopsy tests are done to understand the molecular aspects of cancer across the healthcare and research settings, such as physicians, pathological, hospitals, and research laboratories. The increasing incidences of cancer worldwide are influencing the growth of the market.
However, the COVID-19 pandemic has potentially affected cancer diagnosis and management. In several countries, non-essential ambulatory visits and elective surgery appointments were put on hold. Although oncological services were listed as an exception, preventive care activities such as cancer screening programs for cervical, breast, and colorectal cancer were also put on hold by decree. This had resulted in a decline in the liquid biopsy market for the initial quarters of 2020. Even so, the market is expected to gain stability and remain uninterrupted in the short term as cancer diagnostics is one of the early healthcare sectors to bounce back from the effects of the pandemic.
The disease burden of cancer is growing all over the world. As per data released by the International Agency for Research on Cancer (IARC), the global cancer burden is estimated to have risen to 18.1 million new cases and 9.6 million deaths in 2018. One in 5 men and one in 6 women worldwide develop cancer during their lifetime, and one in 8 men and one in 11 women die from the disease. The rising prevalence of cancer is the major factor driving the growth of the liquid biopsy market. Additionally, easy and non-invasive entrance to the tumor genome and novel clinical trials for research and development is likely to propel the growth of the market. On the other hand, the lack of skilled professionals is likely to hamper the growth of the market. In addition, the reimbursement of medical costs and changing governmental policies are likely to restrain the growth of the market. Nevertheless, the rapid technological advancements in the field of cancer diagnosis are expected to bring noteworthy opportunities for the emerging players in the liquid biopsy market.
Among the geographies, North America is expected to be the largest market for liquid biopsy followed by Europe due to recent regulatory approvals by CE for commercial use of liquid biopsy tests in this region. In addition, the adoption of technologically advanced products and increasing research and development funding/investments is likely to drive the growth in this region. While, Asia-Pacific is expected to grow fast during the forecast period, owing to the rising prevalence of different cancer types, and growth in per capita health expenditure in countries like China and India is likely to augment the growth in this region.
The report on global liquid biopsy market covers segments such as product, and end-user. On the basis of product, the sub-markets include CTCs and ctDNA, and exosome. On the basis of end-user, the sub-markets include clinical diagnostic laboratories, physician’s office laboratories, and hospitals.
The report provides profiles of the companies in the market such as Exosome Diagnostics, Roche Molecular Diagnostics, QIAGEN, Thermo Fisher Scientific, CellMax Life, Chronix Biomedical, Epic Sciences, Bio-Rad Laboratories, Agena Bioscience, and RainDance Technologies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of liquid biopsy market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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