Global Liquid Biopsy Market is Predicted to witness Significant CAGR till 2025 | Hexa Research

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21 December 2018 –

The global Liquid Biopsy Market is projected to witness substantial growth over the forecast period (from 2017 to 2025) owing to advancement in liquid biopsy tests and extensive R&D by major companies. Liquid biopsy is a highly effective and non-invasive technology that offers an enhanced view of the tumor. It helps detect the presence of cancer before any substantial tumor formation and access multiple mutations in the tumor. Increasing number of successful test trials and efficiency in all cancer related investigation are also projected to drive the market. Moreover, highly invasive nature and frequent complications associated with tissue biopsy and advancements in Next-Generation Sequencing (NGS) is anticipated to fuel demand for liquid biopsy in coming years.

Liquid biopsies make use of bio fluid samples, such as blood, urine sample, tissue fluids, and saliva. The technology is widely used in molecular health monitoring, therapy selection for Metastatic Breast Cancer (MBS), and other related cancers. Moreover, it is also used as a molecular monitoring diagnostic tool for other illnesses that can be examined using bio fluids for cancer recurrence, patient screening, and other related investigation. MBS is likely to emerge as a leading application over the forecast period as a result of growing cases of metastatic cancer across the world. Single and multi-gene analysis are the two major methods employed for diagnosis. PCR-based sequencing is used for analysis of mutations in disease-specific genes, whereas NGS testing is used for simultaneous analysis of multiple diseases. Rising awareness about benefits of multiple-gene analysis and NGS is projected to have a positive impact on the market growth over the next few years.

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The market can be segmented on the basis of geography as North America, Latin America, Asia Pacific, Europe, and MEA. Rising occurrence of cancer across the globe is a key factor driving the market growth in most of these regions. Intense competition in the market and emergence of companies in developing regions like Asia Pacific are also likely to boost the market growth in the forthcoming years. In addition, government support for R&D activities and advancement of liquid biopsy tests are contributing significantly to the growth. North America is anticipated to lead the market, followed by Europe on account of regulatory approvals for commercialization of the tests and support for the implementation of liquid biopsy by various organizations, such as American Society of Clinical Oncology (ASCO).

Asia Pacific is expected to emerge highly lucrative due to rapidly expanding medical tourism industry and presence of leading revenue-generating countries, such as India, China, and Japan. In addition, a number of biotech firms have started product trials in China owing to lenient clinical trial regulations. This has compelled companies to shift their bases from developed regions, such as Europe and North America to developing countries in APAC, where trials required for approvals are less expensive. Some of the key companies in the global liquid biopsy market are Natera, Inc.; Pathway Genomics; Foundation Medicine, Inc.; Epic Sciences; Illumina, Inc.; Sequenom; F. Hoffmann-La Roche AG; and Laboratory Corporation of America Holdings (LabCorp). These companies are actively involved in R&D for development of sophisticated products.

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