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Liquid Biopsy Market to Cross US$9071.7 Million by 2026, Says TMR
ALBANY, New York, June 10, 2019 /PRNewswire/ -- TMR predicts that the global liquid biopsy market, which was estimated to be worth US$3,883.2 mn, is projected to reach US$9071.7 mn by 2026. The global liquid biopsy market, thus, is anticipated to rise at 10.1% CAGR over the forecast period 2018 to 2026.
North America and Europe held dominant shares in the global liquid biopsy market in 2017. The trend is expected to continue over the forecast duration, on account of continuous research activities in the region coupled with a large pool of biopharmaceutical enterprises.
In terms of circulating biomarkers, the segment of free nucleic acid is expected to hold a leading share. This could be on the account of novel developments in bioinformatics and sample preparation.
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Rising Prevalence of Breast Cancer Fuels Liquid Biopsy Market
Breast cancer is the second most prevalent cancer in males and females globally. In 2012, it accounted for approximately 12% of all fresh cancers and 25% of all women's. More than 2 million fresh instances were reported in 2018. Fluid biopsy is a sophisticated type of cancer treatment that collects liquids such as blood or urine for the identification of diseases. Specialists can monitor and develop proper therapy processes by means of fluid biopsy distinct molecular modifications happening in tumor cells. Thus, in the coming years, the worldwide elevated incidence of breast cancer is likely to boost the global liquid biopsy market for liquid biopsies.
Success in Clinical Trials Boost Liquid Biopsy Market's Opportunity
Liquid biopsies are projected to be a leading platform for players involved in cancer associated testing and research. These companies are majorly focused on rapidly increasing their use of next generation sequencing (NGS) technology. Results from certain research and projects have shown that the correlation of saliva and plasma measurements pose an evolving frontier in non-invasive identification of oncogenic saliva gene mutations.
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Moreover, it is probable that test methodologies will serve a broader molecular surveillance basis with the expected outcomes from several clinical studies for developing these tests and subsequent large-scale clinical studies that demonstrate efficacy.
Following the marketing of a significant amount of products for liquid biopsies after 2020, liquid biopsy is anticipated to become an application not only for the diagnosis of cancer, but also as a molecular diagnostic tool for other illnesses. This is expected to emerge as a key opportunity in the global liquid biopsy market in coming years.
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The global liquid biopsy market is anticipated to hold immense potential for growth in coming years, according to a Transparency Market Research (TMR) report. The market is currently in its infancy, and is growing at a rapid speed. Entry of new players is amplifying rivalry in the business landscape, with key vendors resorting to strategies such as collaborations, and mergers and acquisitions. Research and development activities is another leading strategy implemented that the vendors in the global liquid biopsy market are investing in. On account of this, the global liquid biopsy is projected to witness diversification and growth in the coming years. Market players are expected to leverage this opportunity in the coming years.
Furthermore, vendors in the global liquid biopsy market are focusing on expanding their geographical presence. For instance, several vendors are starting clinical trial in Asian countries like China, due to lenient regulations and cost-efficiency. Established vendors are seen entering into contracts with other prominent players and expatiate on their product portfolio. Recently, Bio-Rad Laboratories signed an agreement with RainDance Technologies, Inc. The latter is being acquired by Bio-Rad under a business expansion project into next-generation sequencing applications.
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This review is based on TMR's report titled, "Liquid Biopsy Market (Application - Oncology, NIPT, Transplant Diagnostics; Circulating Biomarker - Circulating Tumor Cells (CTC), Free Nucleic Acid, Extracellular Vesicles; End use - Hospitals, Reference Laboratories, Academic and Research Institutes) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026."
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