According
to Inkwood Research, the Global Liquid Biopsy Market is anticipated
to register a CAGR of 20.50% in terms of revenue during the estimated period,
2020-2028.
“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.”
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.
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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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