Liquid Biopsy Market Revenue, Key Players, Supply-Demand, Investment Feasibility and Forecast By 2027
The Global Liquid Biopsy Market 2020 is poised to mature at a 28.0% CAGR and is estimated to acquired USD 17.38 billion by 2027.
The global demand for liquid biopsy is ruled on a rising understanding of personalized cancer treatment. The industry is powered by the demand for non-invasive tests, rising cancer incidence, and robust cancer detection and treatment research and growth. Also, the market is powered by many liquid biopsies advantages such as fast diagnosis, detection of unique mutations, low cost, and less labor needed. Growing information about the diagnosis of different cancer types often drives business development. Also, new screening and therapeutic methods need to be implemented because of the growing incidence of rare cancer and the late diagnosis of the diseases. Thus, late diagnosis reduces the chance of curing the disease as it spreads all over the body. The technology is further applicable to cardiac and neurological disease monitoring, early detection and drug resistance assessment, and prenatal testing. It can now be applied to monitoring organ transplants to bridge the gap between the need for new technology and the increasing demand.
However, tumor heterogeneity, which remains the most significant challenge in cancer research, may restrain the market growth.
The global liquid biopsy market has been segmented into biomarker types, applications, samples, and end-user.
Based on biomarker types, the global market is segmented into extracellular vesicles (EVS), circulating tumor DNA (CTDNA), circulating tumor cells (CTCS), and others.
Based on the application, the global market has been segmented into cancer, reproductive health, and others.
Based on the sample, the global market is segmented into blood samples, urine samples, forensic, and other samples.
Based on the end-users, the global market is segmented into academic and research centers, hospitals and laboratories, and other end users. The other driving factors for the commercial application of the technology were advances in detection technologies such as advanced cell capture technology, digital PCR, and multi-panel detection.
On the healthcare market, depending on the area, the global liquid biopsy is segmented into North America, Europe, Asia-Pacific, and Middle East Africa.
North America accounted for 37.95 percent of the highest market share in 2016, and Asia-Pacific is the fastest developing region. Liquid biopsy technology has been developed in the US and several European countries, resulting in the domination of these two regions in their respective market share. The European economy is forecast to expand by 28.5 percent at the fastest CAGR. Around 2001 to 2010, the venture funding available to life science companies more than doubled. The UK accounts for nearly 20 percent of all investments in Europe, and nearly 20 percent of UK venture capital has been spent in the healthcare sector. Asia-Pacific is the fastest-growing region and is projected to rise over the forecast period at a CAGR of 29.7 percent. It is expected the Middle East Africa will have a limited market but steady growth. Africa, Asia-Pacific, and Latin America account for almost two-thirds of the incidents and three-fourths of the deaths.
The major players in the global liquid biopsy market are SAGA Diagnostics AB (Sweden), Guardant Health, Inc. (US), Inivata Ltd (UK), Trovagene, Inc. (California), Biocept, Inc. KGaA (US), RainDance Technologies, Inc. (the US), Admera Health (US), Agena Bioscience Inc. (California), Circulogene Theranostics (Alabama), and Exosome Diagnostics (Massachusetts).
The market’s leading players concentrate on creating innovative testing methods and technologies, as well as multiple strategic initiatives, including acquisitions, alliances, and cooperation. Fundraising for cancer treatment is one of the core challenges for the industry players to create innovative medical techniques and innovations as well as to sustain their market place.