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Global Liquid Biopsy Market Major Competitors, Regional Segments, Strategies and Forecast 2030
LIQUID BIOPSY MARKET
"Browse 28 Market Data Tables and 67 Figures spread over 248 Pages, along with an in-depth TOC on the Global Liquid Biopsy Market Forecast 2020-2028."
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Liquid biopsy is emerging as an alternative to standard procedures for cancer screening. As a new type of blood test, liquid biopsy holds the potential to transform and enhance cancer treatment. It is projected that liquid biopsy, as a method of testing, will prove to be more effective and helpful in monitoring cancer medication and its status after diagnosis. Moreover, liquid biopsy is gaining rapid traction as a supplement for tissue biopsy for transplant medicine and reproductive health, in addition to cancer.
Emergence of Tissue or Tumor-Agnostic Drugs Propagates Market Growth
The advent of tissue/tumor-agnostic drugs is a trend related to precision medicine. It targets genetic variants within cancer and propels the use of liquid biopsy diagnostics to identify distinctions. This phenomenon first occurred in May 2017, with the expanded approval of Merck's drug, Keytruda (pembrolizumab) for patients with cancer, and microsatellite instability or mismatch repair deficiency. Numerous drug enterprises are presently following the same approval tactic that focuses on the genetic characteristics of the condition, instead of the organ where cancer originated.
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Clinical Diagnostic Laboratories are the Major End-users
Clinical diagnostic laboratories are collaborating with firms that manufacture liquid biopsies, to lead the clinical laboratory solutions and systemization. Clinical diagnostic laboratories enable the diagnosis of colorectal cancer by screening samples collected from patients, typically from their homes. Additionally, the sale of liquid biopsy devices and other products is growing due to rising awareness regarding cancer and its corresponding non-surgical diagnostic methods. Tier-1 and Tier-2 diagnostic laboratories have an extensive network that enables easy accessibility and delivers quick results, within constrained time durations. Thus, the global authority of direct-to-consumer laboratories has assisted in adopting liquid biopsy tests and the sale of related merchandise.
North America is predicted to project Prominent Growth Rate by 2028
The demand for liquid biopsy in the North America region is predicted to increase across the forecast years, owing to the rising cancer cases. The United States and Canada have superior biopsy technologies, specially designed to identify diseases at early stages and substantially reduce fatalities. Moreover, the upsurge in healthcare expenditure by governments, is estimated to play a primary tole in fueling the demand for liquid biopsies in North America.
The industry rivalry within the emerging market is medium to intense, due to minimal factors restraining the entry of innovations and developments within the liquid biopsy market. Argon Medical Devices Inc, Planmeca OY, Becton Dickinson and Company (Bd), Agilent Technologies Inc, Bio-Rad Laboratories, etc. are among the prominent companies in the market.
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