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Liquid Biopsy Diagnostic Market to Grow at Healthy Rate Till 2025, Says Stratview Research
DETROIT, March 28, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new market research report on Opportunities & Gaps in the Liquid Biopsy Diagnostic Market. This report, from Stratview Research, studies the global liquid biopsy diagnostic market over the trend period of 2014 to 2018 and forecast period of 2019 to 2025. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Liquid Biopsy Diagnostic Market: Research Highlights
According to a report published by The World Health Organization in 2017, the number of breast cancer deaths around the globe is expected to increase. By 2040, more than 991,000 women are expected to die annually of breast cancer across the globe.
The potential for liquid biopsies to lead to early detection of cancer may impact several product lines, mainly critical illness (CI) and medical insurance. Over the past few years, CI has undergone several innovations. Companies now offer staged, multi-pay, and cancer-only plans. A unique selling point of cancer-only and staged CI plans is they cover early-stage cancers as well. Increased near-term utilization of liquid biopsy as part of routine screening tests or diagnostic protocols could lead to higher cancer incidence rates than anticipated. This could impact the pricing assumptions of certain products, especially those offering early-stage cancer benefits.
Recent mainstream news flow has made much of the CancerSEEK diagnostic test, particularly its ability to detect multiple types of cancer from a single blood sample. Further confirmatory tests will be required post-screening before a patient is placed on the current standard of care for their particular cancer. Also, the test's sensitivity falls to 70% for the purposes of screening certain cancers, which is insufficient to drive standalone clinical decisions. Therefore, considerable further development and validation of liquid biopsy-type platforms are required to establish such a 'one stop' diagnostic test. Among the key competitors in liquid biopsy, Biocept, Oncocyte and few others are creating buzz in the market.
Overall, the liquid biopsy (LB) concept complements the personalized medicine approach and provides an innovative way for patient selection in clinical trials, here mutational analysis supports patient eligibility for targeted therapy.
While we do not anticipate that LB will fully replace or directly compete with SB for most diagnostic purposes any time soon, we do very much foresee that LB will complement SB rapidly within the next 3–5 years and will become a tool of choice for dynamic monitoring of patients on treatment or under active surveillance. In many instances, LB will also prompt further imaging workup and/or re-biopsy of tissue lesions.
Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. About 20 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
- Future Outlook
Stratview Research has number of high value market reports in the global healthcare industry. Please refer to the following link to browse through our reports:
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