New York, July 26, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Liquid Biopsy Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Product & Services, Sample, Application, End User and Geography,” the report highlights trends prevailing in the market and factors driving its growth. The liquid biopsy market is attributed to grow due to increasing prevalence of cancer, government and global health organizations initiatives. However, the low sensitivity of liquid biopsy is expected to restraint the global liquid biopsy market growth.
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Liquid Biopsy Market Report Scope & Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | US$ 3.86149 billion in 2019 |
| Market Size Value by | US$ 8.12385 billion by 2027 |
| Growth rate | CAGR to 9.9% from 2020 to 2027. |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 195 |
| No. Tables | 125 |
| No. of Charts & Figures | 76 |
| Historical data available | Yes |
| Segments covered | Product and Services ; Sample ; Circulating Biomarker ; Application ; End User , and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Liquid Biopsy Market: Competitive Landscape and Key Developments
Biocept, Inc.; Bio-Rad Laboratories, Inc.; Lunglifeai, Inc.; Exosome Diagnostics; F. Hoffmann-la Roche ltd; Inivata ltd; Exact sciences corporation, Mdxhealth; Qiagen; and Thermo fisher scientific Inc. are among the leading companies operating in the liquid biopsy market. Several companies are implementing organic strategies, such as products launch and expansions.
In March 2020, NuProbe completed Collaboration with Qiagen to develop next-generation sequencing (NGS)-based cancer diagnostic tests for non-invasive liquid biopsy
In Feb-19, Bio-Rad Received FDA approval for its liquid biopsy product namely,QXDx AutoDG ddPCR system. This product is likely to monitor molecular response to treatment among patients with chronic myeloid leukemia (CML)
In March 2018, Thermo Fisher Scientific and Biocept entered into a commercial liquid biopsy partnership. The collaboration was likely to begin with the companies partnering to validate Thermo Fisher's Oncomine next-generation sequencing (NGS) liquid biopsy panels in Biocept's CLIA-certified laboratory.
In May 2017, F. HOFFMANN-LA ROCHE LTD launched a First blood-based distributed oncology tests covering all four mutation classes, namely AVENIO ctDNA Targeted Kit, Expanded Kit and Surveillance Kit. It is likely to give combine convenience of liquid biopsy with the power of next generation sequencing.
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Government and Global Health Organizations Initiatives
The liquid biopsy test is conducted to detect cancer at an early stage. The test is performed either on a blood sample to identify cancer cells present in the in blood stream, or on the DNA extracted from tumor cells. The government for early detection of cancer takes various initiatives. For instance, the National Institutes of Health (NIH) started a new initiative called Precompetitive Collaboration on liquid biopsy for early cancer assessment. The purposes of this initiative are to establish a Public-Private Partnership Program for the development of new or validate existing technologies, methods, and assays for the capture and quantification of tumor-associated cells, RNA, DNA, or exosomes in body fluids of patients with an early-stage disease or those at high risk. This initiative emphasis early cancer detection by distinguishing aggressive and nonaggressive cancers, and differentiates benign disease from cancer.
In China and the US, the central government and biotech investors have been financing lung cancer screening by investing in Research & Development and complementary or improved screening tools and diagnostics, such as biomarkers and liquid biopsies.
European countries are also taking initiatives for early detection of cancer. For instance, the Innovative Medicines Initiative funded the CANCER-ID project, initiated on 1stJanuary 2015. It is a public-private partnership between the EU and the European pharmaceutical industry, which includes 38 partners from 13 European countries, along with groups from the US and a company in Singapore. These partners are brought together to develop and validate standardized operating procedures for liquid biopsies.
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Liquid biopsy is a noninvasive diagnostic test that identifies various types of cancer. The increasing prevalence of cancer among population is leading to the growth of liquid biopsy market across the world. For instance, in Canada, cancer is the leading cause of death among population and it is witnessed to be a second-leading cause after heart diseases in the US. As per the American Cancer Society, Inc, approximately, 1.9 million new cancer cases and 693,000 cancer deaths were recorded in 2018, in Northern America. Prostate cancers are the most commonly diagnosed cancers among males in North America; however, breast cancers remains leading in females. Additionally, lung cancer remains the most common cause of death in both sexes. It is estimated that the number of new cancer cases is accounted for 439.2 per 100,000 men and women every year. According to the National Health Profile, the cases of common cancers, including cervical, oral, and breast cancers have increased by 324%in India between 2017 and 2018. Additionally, the total number of patients visiting Non Communicable Diseases (NCD) clinics have doubled from 2017 to 2018, which is recorded as 3.5 crore to 6.6 crore respectively. Rapid change in lifestyle and increasing consumption of alcohol and tobacco products are the factors increasing the incidences of cancer among the population.
According to the National Health Profile, the cases of common cancers, including cervical, oral, and breast cancers have increased by 324%in India between 2017 and 2018. Additionally, the total number of patients visiting Non Communicable Diseases (NCD) clinics have doubled from 2017 to 2018, which is recorded as 3.5 crore to 6.6 crore respectively. Rapid change in lifestyle and increasing consumption of alcohol and tobacco products are the factors increasing the incidences of cancer among the population.
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Liquid Biopsy Market: Segmental Overview
Based on product and services the liquid biopsy market is segmented into equipment, reagents & kits and services. The reagents & kits segment held the largest share of the market in 2019 and the same segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on sample, the liquid biopsy market is segmented into blood based, urine based, and other samples. The blood based segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period owing to its remarkable advantages over the conventional method.
Based on circulating biomarker, the liquid biopsy market is segmented into circulating tumor cells (CTC), exosomes, and free nucleic acid. The circulating tumor cells (CTC) segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period. Factors helping to remain CTC market dominate are advantages over traditional tissue biopsies, as they are non-invasive, can be used repeatedly, and provide more useful information on cancerous cell risk, disease progression, and treatment.
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