Liquid Biopsy Market Is Expected To Grow Rapidly In The Near Future

Liquid biopsy, a minimally invasive diagnostic test for cancer is currently emerging as a promising technology in healthcare. Through liquid biopsy, cancer cells and DNA samples can be isolated for cancer diagnosis. Liquid biopsy has become a preferred method of tissue sampling where conventional biopsy methods are not feasible or risky. In some cases multiple biopsies are required, which makes conventional tissue sample difficult. Liquid biopsy market is largely driven by the fact that these procedures are minimally invasive, and are cost effective as compared to other cancer diagnostic methods. Being minimally invasive, these tests require shorter hospital stay and allow quick patient recovery.

Currently the tissue biopsy market is its introductory phase; and many new applications are yet to surface. Currently liquid biopsy is largely used for diagnosis of?lung cancer, colon cancer and breast cancer. Higher success rate of liquid biopsy tests, cost effective, quick and accurate results have assisted in rapid adoption of the technology. With increasing know how about cancer biomarkers, the liquid biopsy market is expected to grow rapidly in the near future. High prevalence of cancer globally and increasing need for cost effective diagnostic and treatment alternatives are other factors supporting the market growth. Lung cancer accounts for largest percentage of cancer patients. American Cancer Society estimates 222,500 new cases of lung cancer in 2017 in the U.S. alone; while Cancer Research U.K. recorded more than 46,000 new cancer cases in 2014 in the U.K. International Association for the Study of Lung Cancer states that over 50% of the global lung cancer cases occur in the Asia Pacific region; this region also accounts for 21% if the mortalities due to cancer. The newly introduced liquid biopsy technology has gained increased adoption in the North America region. Europe is the second largest market, while Asia Pacific is expected to require more incubation for widespread adoption due to lack of awareness and expertise.

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Although currently only a handful of companies operate in the market, many more are expected to compete in the near future. Companies are investing heavily in technology for gaining competitive edge in the initial stages of the life cycle. In 2017, Grail, Inc. a startup with expertise in liquid biopsy raised over US$ 900 million for development of blood based test for cancer diagnosis. Epic Sciences, Inc. also raised US$ 40 million for development of its liquid biopsy test. These events indicate rapid growth of liquid biopsy market in the near future. Other key players in the liquid biopsy market include RainDance Technologies, TrovaGene, Inc., Qiagen NV, Biocept Inc., and Genomic Health, Inc.

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