Liquid Biopsy Market is expanding primarily owing to an increase in cancer prevalence, urge of early diagnosis and high accuracy in clinical diagnosis. In developing economies rising per capita healthcare expenditure and increasing demand advanced diagnostic technologies are expected to fuel the growth of Liquid Biopsy Market. Liquid Biopsy Market trends are focused on significant increasing demand of liquid biopsy by the leading biotechnology and pharmaceutical companies in anti-cancerous drug development. The non-invasive nature and economical affordability of liquid biopsy tests will play a key role in bolstering demand globally. FDA approvals for non-invasive diagnostic tests for cancers is expected to have a positive influence on the growth of the market. Moreover, oncologists are more inclined toward liquid biopsy for cancer detection. The global Liquid Biopsy Market is estimated to be valued at US$ 1,194 Mn in 2019, with the market expected to exhibit a CAGR of 23% during the forecast period (2019 - 2026).
Key Takeaways from Liquid Biopsy Market Study
- In terms of biomarker type, the circulating tumour cells (CTCs) segment of Liquid Biopsy Market is expected to witness high growth in the next few years. Currently, the circulating tumour cells (CTCs) segment accounts for major share of the global Liquid Biopsy Market.
- North America has been estimated to account for significant revenue share of the global Liquid Biopsy Market in 2019.
- By disease indication, lung cancer segment is expected to dominate the market, in terms of revenues.
- By end user, cancer institutes are estimated to represent a revenue share of around 40% -- significantly higher compared to other end-use segments, such as hospitals, academic institutes, and diagnostic centres.
- The primary trend in the Liquid Biopsy Market is increasing demand by the leading biotechnology and pharmaceutical companies in anti-cancerous drug developments.
“Increase in number of prevalence of breast and prostate cancer and rise in funding for R&D are the key factors that will continue to drive the growth of the Liquid Biopsy Market. Additionally the diagnostic technology advancements and scientific evidence of effective diagnosis will increase the adoption of liquid biopsies in the near future.” says the FMI Analyst.
Increase in Government Spending on Cancer Research to Propel the Growth of the Liquid Biopsy Market
The growing incidence of cancer cases and increasing clinical research demand of liquid biopsy diagnosis has led to a significant increase in the demand for liquid biopsy products including devices and services. Due to the noninvasive features and accuracy of diagnosis, the liquid biography, is preferred by cancer institutes, followed by hospitals and diagnostic labs. Liquid biopsy is used for variety of diseases diagnosis ranging from breast cancer to leukemia. While research organizations and academic institutions are generally preferred highly sensitive and accurate liquid biopsies, which reduces the false positive results and inaccurate treatment regimen.
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Liquid Biopsy Market, a new study from Future Market Insights, provides unparalleled insights on evolution of the Liquid Biopsy Market during 2014 - 2018 and presents demand projections during 2019 - 2026 on the basis of biomarker type (circulating tumor cells, circulating tumor nucleic acids, and exosomes), by sample type (blood, urine, and others), by indication (lung cancer, gastrointestinal cancer, prostate cancer, breast cancer, colorectal cancer, leukemia, and other), by end user (hospitals, cancer institutes, academic institutes, and diagnostic centers) across seven prominent regions.
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