Pune, India, Aug. 28, 2018 (GLOBE NEWSWIRE) -- The International Liquid Biopsy Market Report immensely promising is not without its challenges, and market growth is anticipated to be hindered by the prohibitive costs which are associated with liquid biopsy. Moreover, prostate and brain cancer may lie dormant for years, and patients may not benefit from early detection in such cases. Lack of awareness and a dearth of well-trained professionals in developing regions are some other challenges posed to the global liquid biopsy market. However, growing collaborations between companies and increased funding from public organizations are expected to open up the market for new entrants and provide ample opportunity. The unmet needs in emerging markets represent massive potential for growth in the foreseeable future.
Market Research Future has released its extensively detailed report on the Global Liquid Biopsy Market which is anticipated to grow at a noteworthy CAGR of 28% during the forecast period which ends in 2022. Largely non-invasive, liquid biopsy offers diagnostic capabilities and represents advancement in human genome sequencing. Valued at USD 3950 Mn at the start of the forecast period, the market is on track to reach an estimated evaluation of USD 17,372.28 Mn by 2023.
The healthcare sector is expanding at a rapid pace, and novel methods of diagnostics have arisen with the increased demand for minimally or non-invasive diagnostic tests. Rising occurrences of cancer and other chronic diseases have increased the demand for accurate diagnostics. Liquid biopsy is painless and non-invasive, particularly when compared to other diagnostic tests. Moreover, liquid biopsy offers real-time detection of diseases with high precision. Other factors driving the global liquid biopsy market are lifestyle changes which lead to increased cancer diagnoses, rising investments in research & development activities, rising geriatric population and the growing expenditure on healthcare. Liquid biopsy carries significant potential for use in diagnoses of cardiovascular diseases and autoimmune diseases.
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Key Players
MRFR has scoped the competitive landscape of the market to reveal various market strategies utilized by leading market players to strengthen their market position. Research & development activities, collaborations, and acquisitions & mergers are some of the most effective strategies being implemented by prominent market players which include Circulogene Theranostics, Exosome Diagnostics, Guardant Health Inc., Agena Bioscience Inc., SAGA Diagnostics AB, RainDance Technologies Inc., Admera Health, Inivata Ltd., Biocept, Inc., Trovagene Inc., and others.
Latest Industry News
- MDNA Life Sciences has just announced its exclusive licensing agreement with the Laboratory Corporation of America for a non-invasive liquid biopsy test for the diagnosis of prostate cancer.
- Angle plc has announced that its Parsortix system has demonstrated the ability to detect circulating tumor cells (CTCs) in human glioblastoma.
Liquid Biopsy Market Segmentation
MRFR's analysis of the Liquid Biopsy Market segments it on the basis of various pertinent factors which allow detailed insight into the various facets of the global liquid biopsy market. Segmentation of the global liquid biopsy market has been performed on the basis of biomarker types, application, sample, end-user, and region. By biomarker types, the market is segmented to include extracellular vehicles (EVs), circulating tumor DNA (CtDNA), circulating tumor cells (CTCs) and other biomarkers. Other biomarkers include circulating RNA and proteins. The circulating tumor cells (CTC) segment dominates the market in terms of revenue as represented by its 55.48% share. The advancements done for this type of biomarker and its extensive use in diagnostics are responsible for its market position.
By application, the Liquid Biopsy Market is segmented into reproductive health, cancer, and other therapeutic applications. The cancer segment is the largest segment with the highest share of the market due to the rising demand for minimally invasive and accurate tests for cancer diagnoses.
By sample, the market is segmented into urine sample, blood sample, and other sample. The blood sample segment accounts for the most significant segment. However, the urine sample segment is expected to witness considerable growth over the assessment period.
By end-user, the market is categorized into academic & research centers, and other end users.
The global division of the market for analysis includes North America, Europe, Asia Pacific and the Middle East and Africa.
Unmet Potential Translates to Highest Growth for APAC Region
The Global Liquid Biopsy Market is led by North America which presently accounts for more than one-third of the market. The region has a high concentration of leading market players who are actively participating and contributing to market growth. With a valuation of USD 1,499.10 mn at the start of the forecast period, the regional market is set to grow exponentially. North America is closely followed by Europe due to the similar growth pattern these regions share. Both regions have public bodies who are funding investments in an effort to reduce development costs which will ultimately benefit the global market. A high geriatric population, well-established healthcare sector and high adoption rate of advanced medical processes are some other drivers which impact the growth of these regions positively.
Meanwhile, growing at an impressive CAGR of 28.8%, the Asia Pacific is anticipated to witness the fastest growth among all regions recorded in the report. The region has a high concentration of rapidly emerging markets which are undergoing urbanization and have resulted in huge lifestyle changes, thus leading to increased occurrences of chronic diseases. The presence of a large patient population has been recognized by global market players, and the region is rapidly working toward adopting advanced healthcare practices and revamping existing facilities to meet the growing need for the effective diagnostic test. Unmet needs in this region represent huge potential for future growth.
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