Key Factors Shaping the Liquid Biopsy Market
Diagnosis Accuracy and Higher Adoption Rate in Cancer Research
The advancements in noninvasive technology of liquid biopsy diagnosis, which in turn reduce false positive and negative results in cancer detection is a key factor expected to propel the growth of the global Liquid Biopsy Market. Increasing demand for technically advanced liquid biopsy product, in various cancers, such as breast cancer, prostate cancer, lung cancer, colon cancer and other cancer diseases, for improved and accurate diagnosis is anticipated to drive the growth of Liquid Biopsy Market over the forecast period.
Noninvasive diagnosis methodology, minute biospecimens requirement and sophisticated procedures gaining the higher preference to liquid biopsy by the physicians over other conventional biopsy procedures. This increasing adoption in hospitals, diagnostic laboratories and research laboratories is expected to boost the growth of the future Liquid Biopsy Market. Extensive clinical research and R & D funding from government and industry is expected to propel the demand for liquid biopsy.
Increasing Anti-cancer Drug R & D Activities by Biotechnology and Biopharmaceutical Industry
There is an ever increasing demand for liquid biopsy from end users, such as hospitals, diagnostics centers and research institutes in the developed regions due to increasing incidences of various cancer diseases and high urge of early drug research and development. In the past decade, research and development activities for anti-cancer therapeutic products have reached an intense level.
Various government and cancer institutes have allocated budgetary funds and grants for research and development activities to develop novel and cost effective anti-cancer drugs which will ultimately lead to an increased demand of accurate and rapid biopsy technique like liquid biopsy during clinical research and development activities.
For Instance, according to the National Institute of Health (NIH), the federal government of U.S. allocated US$ 6.44 billion to National Cancer Institute (NCI) in 2020 fiscal year budget for cancer research and development in medical, technological and scientific development. Such rise in research funding will drive the growth of the Liquid Biopsy Market.
Increasing Strategic Collaborations among Industry Players and End Users
Strategic collaborations among liquid biopsy product manufacturer and end user, such as hospitals, diagnostics centers, cancer institute, and academic institutes are anticipated to drive growth of the Liquid Biopsy Market over forecast period in emerging regions such as Latin America and Southeast Asia.
Collaboration activities, such as industry research funding, and product development agreements are preferred by industry players to strengthen their product portfolio and proprietary technologies dedicated to rapid diagnosis of variety of cancer diseases.
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Liquid Biopsy Market Structure Analysis
- The global Liquid Biopsy Market is consolidated with over 65% market share occupied by tier I industry players.
- Tier I companies include F. Hoffmann-La Roche Ltd., Janssen Global Services, LLC, Biocept Inc., and Trovagene, Inc and others players.
- Most manufacturers are focused on scientific advancements in the global diagnostic healthcare sector by undertaking R&D initiatives to expand its product portfolio.
FREQUENTLY ASKED QUESTIONS ABOUT THE LIQUID BIOPSY MARKET
Why liquid biopsy market is expected to evidence double digit growth rate in the future?
Minimally-invasiveness, and rapid diagnosis with high accuracy and precision are the key factors expected to increase adoption of liquid biopsy among the end-users.
Which biomarkers type is expected to lead the liquid biopsy market?
Circulating Tumour Cells (CTCs) biomarkers are expected to hold majority share in the liquid biopsy market owing to expanded clinical applications which include prediction of cancer prognosis; selection and monitoring of therapeutic treatment; and drug targeted therapy.
Which type of disease holds the high market potential?
Lung cancer is a dominating disease area in the current liquid biopsy market owing to large patient base and capability of liquid biopsy to perform diagnosis with minimal sample.
What is the competitive nature of the current liquid biopsy market?
The liquid biopsy market is highly consolidated market with leading diagnostic, biotechnology and biopharmaceutical industry players.
Which region will lead the global sales of liquid biopsy market?
North America is currently dominating region in the global liquid biopsy market and expected to remain at the leading position in the future
Key Segments Covered
By Marker Type
- CTCs (Circulating tumour Cells)
- ctNA (Circulating tumour Nucleic Acids)
By Sample Type
- Others (Plasma, Saliva, CSF)
By Disease Indication
- Lung Cancer
- Gastrointestinal Cancer
- Prostate Cancer
- Breast Cancer
- Colorectal Cancer
- Cancer Institutes
- Academic Institutes
- Diagnostic Centers
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific Ex. Japan (APEJ)
- Australia and New Zealand
- Rest of APAC
- Middle East & Africa
- South Africa
- Rest of MEA