Liquid Biopsy - Growing awareness about liquid biopsy and increasing prevalence of cancer are the factors boosting the market
According to a new market report published by Stratistics MRC the Global Liquid Biopsy Market accounted for $0.63 billion in 2015 to reach $2.93 billion by 2022 growing at a Compound Annual Growth Rate (CAGR) of 24.6% during the forecast period. Rising R&D developments and clinical trials of diagnostics, and technological advancements are some factors fuelling the market growth. Moreover, growing awareness about liquid biopsy, increasing prevalence of cancer are the factors boosting the market. On the other hand, higher costs and complex regulations are restraining the market growth.
Global Liquid Biopsy market is segmented by sample types into urine, blood and others. Among these sample types, the chief ongoing R&D and presently available tests are predominantly blood based sample types. Additionally, existence of sturdy testing methodologies existing for entire blood cellular analysis and molecular outlining along with the presence fractionation and preparation methods for partition and purification, blood sample based liquid biopsy tests are expected to witness highest revenue.
Global Liquid Biopsy market is divided by cancer type into gastrointestinal cancer, colorectal cancer, breast cancer, leukemia, prostate cancer, lung cancer, liver cancer, and other cancers. Other cancers segment includes melanoma, bladder cancer, and ovarian cancer. In 2016, the lung cancer segment is anticipated to account for the largest share of the market, followed by breast cancer.
Browse the full report at "Liquid Biopsy Market Outlook".
Global Liquid Biopsy market is segregated by circulating biomarkers into extracellular vesicles (EVs), circulating tumor DNA (ctDNA), exosomes, circulating tumor cells (CTCs) and other biomarkers. In 2016, the circulating tumor cells segment is anticipated to account for the largest share, followed by the circulating tumor DNA segment. The global liquid biopsy market is segmented by products and services into services and software, reagents and instruments. Moreover, by end user the market is classified into hospital and physician laboratories, diagnostic centers, academic & research centers and others end users.
This report also covers trends driving each segment and offers analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. North America commanded the largest share over the forecast period owing to easy accessibility and high adoption of advanced diagnostic technologies, such as PCR and NGS, among healthcare professionals, and continuous technological advancements in liquid biopsy are responsible for the largest share of North American market.
The U.S. accounts for the largest share of revenue for the development of liquid biopsy market. The region was observed highest potential owing to the high number clinical development projects underway for the commercialization of CTC and ctDNA assays. Furthermore, throughout the forecast period, U.S. is expected to dominate revenue generation owing to the dynamic nature & being the region of prime activity, research and development with respect to liquid biopsy and next generation sequencing technology.
The key players in the Liquid Biopsy market include Adaptive Biotechnologies, Biocept, Inc., Bio-Rad Laboratories Inc., Guardant Health Inc., Fraunhofer-Gesellschaft, F. Hoffmann-La Roche AG, Epic Sciences, Cynvenio, Illumina Inc., Qiagen, Personal Genome Diagnostics, NeoGenomics Laboratories, Myriad Genetics, Trovagene Inc., RainDance Technologies, MDX Health SA, and Janssen Diagnostics, LLC.
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