Press release
Liquid Biopsy Market Analysis Focusing on the Key Issues Surrounding the Growth of the Industry and Further Develop Opportunities
Liquid Biopsy Market
The research report published by Allied Market Report states that the global liquid biopsy market is estimated to reach $3,805 million by 2023. The report provides an in-depth analysis of growth factors, opportunities, market trends, key segments, and competitive landscape. Current market conditions and the future scenario of various regions have been analyzed in the report to help market players in devising expansion strategies. Moreover, it includes country-wise analysis of each region. Product portfolio and business segments of leading market players outline the competitive scenario. The report provides insights to help investors, stakeholders, and new entrants to determine potential opportunities and tap on them to gain competitive advantage.
The market report includes a detailed analysis of the Covid-19 impact on the liquid biopsy market. Over the course of 2019–2027, the market is expected to show significant growth. However, the recent Covid-19 outbreak is likely to affect some of the business operations. The report includes an analysis of how Covid-19 has and will affect the industry, studying reliable sources, interviews of experts, and annual reports of the major market players. The report includes major drivers, restraints, and opportunities within the liquid biopsy market.
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North America was the highest contributor in the liquid biopsy market in 2016; however, Asia-Pacific is anticipated to witness a highest growth rate throughout the forecast period.
Liquid biopsy tests prove to be an easy and non-invasive method to access to molecular information about the tumor genome. Moreover, these tests facilitate early detection of cancer recurrence and characterization of tumor dynamics. Safety and efficiency of cancer treatment is improved by the use of these tests, owing to their ability to characterize new lesions, implement apt therapeutic targets, and predict the treatment outcome.
The advantages of implementing liquid biopsy over conventional methods of solid tissue biopsy are expected to boost the growth of the market. The advantages of liquid biopsies, such as minimally invasiveness and metastatic relapse evaluation, are expected to increase the demand for these tests.
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Furthermore, the increase in disposable income among cancer patients, surge in prevalence of cancer cases, and patient preference for minimally invasive therapies are anticipated to fuel the market growth. Rise in healthcare expenditure in the developing countries, such as India and China, and use of liquid biopsy tests to treat rare cancers are expected to present multiple opportunities for market growth. However, this growth is restricted, owing to alternatives to liquid biopsies and unclear reimbursement & regulation scenario.
Reagent was the highest revenue contributor in 2016, and is anticipated to continue this trend in the future. The requirement of reagents to execute liquid biopsy tests and their applicability are expected to boost the growth of this segment.
Lung cancer dominates the cancer by type segment of liquid biopsy market. The U.S. Food and Drug Administration (FDA) has also approved a liquid biopsy companion diagnostic test called cobas EGFR mutation test v2 to identify patients with metastatic non-small cell lung cancer (NSCLC) In addition, the growth in prevalence of lung cancer has contributed to provide lucrative opportunities in the market.
In 2016, North America accounted for highest contribution to the total revenue generated, owing to the high prevalence rate of cancer and high adoption rate of novel liquid biopsy tests. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, attributable to rise in disposable income, increase in government initiatives to modernize healthcare infrastructure, and rise in healthcare expenditure.
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The Major Key Players Are:
Biocept, Inc., Qiagen, F. Hoffmann-La Roche AG , Bio-Rad Laboratories Inc., Myriad Genetics , Janssen Diagnostics, LLC., Trovagene Inc., Guardant Health Inc., GRAIL, and MDX Health SA.
Contact:
David Correa
Portland, OR, United States
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help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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