Liquid Biopsy Market Grows Vivaciously in Revenue of US$ 17,372.28 million by 2022 Says Guardant Health, Inc., Trovagene, Inc., RainDance Technologies, Inc.

Market Scenario:

A liquid biopsy is defined as a largely non-invasive, sampling and analysis of liquid state biological tissue, helpful in diagnostic and monitoring diseases such as cancer. Market Research Future (MRFR) has published a research report about the global liquid biopsy market that vaticinates immense extension for this market with 28% CAGR (Compound Annual Growth Rate) between 2015 and 2022. In terms of cash, the worth of this market has been estimated to be US $ 17,372.28 mn by the end of forecast period.

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Biopsy involves extracting a sample of tissue and testing it for the presence of diseases especially cancer. Traditional tissue biopsy is a painful technique and also has a high rate of false results. Moreover the technique is costly, time consuming and not applicable for extracting samples such as those close to vital organs such as heart. Liquid biopsy overcomes these problems of tissue biopsy by using biomarkers present in samples such as blood, urine etc. and thus is a comparatively non-invasive technique. Liquid biopsy also provides greater information about the sample which is real time. The real time data can be used for monitoring and thereby determining the treatment for diseases such as cancer. The greater sensitivity of tissue biopsy coupled with the development of sophisticated detectors with extremely low detection rates have enabled the early detection of diseases which is the holy grail of cancer.

The restraints that can harm the market growth during the forecast period include the prohibitive costs associated with liquid biopsy, and the differential awareness & availability between developing and the developed world. Also, early detection does not benefit all cancer patients as some cancers like brain cancer and prostate cancer may lie dormant for many years. Lastly, liquid biopsy is not all non-invasive. Use of spinal fluid as sample proves that.

Key Players

The key players in the global liquid biopsy market include Admera Health (USA), Agena Bioscience Inc. (USA), Biocept Inc. (USA), Circulogene Theranostics (USA), Exosome Diagnostics (USA), Guardant Health Inc. (USA), Inivata Ltd. (USA), RainDance Technologies Inc. (USA), SAGA Diagnostics AB (Sweden), and Trovagene Inc. (USA).

Segmentation

The global liquid biopsy market has been segmented on the basis of application, biomarker type, end users, sample, and lastly region. Based on application, this market has been segmented into cancer therapeutic application, reproductive health, and other therapeutic application. During the forecast period, with regards to the therapeutic application, the Cancer segment will reflect the highest growth potential, with over 82.83% of the market share by revenues. By biomarker type, the market has been segmented into circulating tumor cells (CTCS), circulating tumor DNA (CTDNA), extracellular vesicles (EVS) and other biomarker. Not only CTCS segment dominates the market share, in terms of revenues, it contributes approx. 55.48% of the revenue share of the global liquid biopsy market.

On the basis of end users, the market has been segmented into academic & research centers, hospitals & laboratories, and others. The sample-based segmentation segments the market into blood, urine and others. The urine sample segment is expected to witness noticeable growth during the forecast period.

Regional Analysis

The regional segmentation of the global liquid biopsy market segments the market into continent-based regional markets namely The Americas, Europe, Asia Pacific, and Middle East & Africa (MEA). During the forecast period, the North America and Europe are expected to grow. The Americas is the largest regional market due to the availability of advanced medical technology, and increasing healthcare expenditures, especially in North America. North America alone holds the potential to be the largest regional market due to its strong economies that are as the United States of America (USA) and Canada. Many key market players are based in the USA. In this region, the availability of advanced medical facilities makes North America a bigger market than South America.

Europe is the second largest regional market. After North America, Europe has maximum technological advancement. The most important country-specific markets in this region are this region are France, Germany, Italy, Spain, and the United Kingdom (UK). According to the report, the Asia Pacific region is expected to emerge as the fastest growing regional market. In this region, the significant country-specific markets are Australia, China, India, Japan, and South Korea followed by the rest of Asia Pacific. During the forecast period, the Asia Pacific market is expected to grow at the 28.8% CAGR.

The MEA region shows limited market with slow and steady growth. The reasons for the slow market growth in this region are lack of awareness, lack of education, lack of technological development, political instability, poor access to treatment, poor healthcare facilities, and healthcare not considered a priority by most governments. The crucial country specific markets in this region are Egypt, Saudi Arabia, and the United Arab Emirates (UAE).

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This release was published on openPR.