Emerging Tissue/Tumor-Agnostic Drugs to be a Chief Driver Fueling Global Liquid Biopsy Market Growth
According to Inkwood Research, the Global Liquid Biopsy Market is estimated to register a CAGR of 18.91% in terms of revenue during the forecasting years of 2021-2028.
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A liquid biopsy is a non-invasive approach, that helps
detect and monitor cancer as well as other diseases. In order to perform a
liquid biopsy, blood or other fluids like, urine, is collected, sequenced, and
analyzed through next-generation sequencing (NGS) systems and assays. On
account of its efficiency, tissue biopsy, an invasive procedure, is now being
replaced by liquid biopsy. For instance, the method is also rapidly gaining
traction as an alternative to tissue biopsy, for applications in transplant
medicine, reproductive health, and cancer.
Emerging
Tissue/Tumor-Agnostic Drugs to Accelerate Market Growth
The emergence of tissue/tumor-agnostic drugs is an
additional trend associated with liquid biopsy. It targets particular genetic
variants within cancer and propels the use of liquid biopsy diagnostics for
identifying the variations. The first instance of this phenomenon entails the
expanded approval of Merck’s drug, Keytruda (pembrolizumab), in May 2017, for
patients with metastatic cancer. Besides, it was also used for mismatch repair
deficiency or microsatellite instability. Multiple other drug companies within
the global liquid biopsy market are presently pursuing a similar approval
strategy, emphasizing the genetic characteristics of cancer than the organ of
origin.
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Treatment
Selection is the Fastest-Growing Clinical Application
The selection of treatment plays a crucial role, in terms of
disease treatment. Treatment selection also minimizes the disease’s drawbacks,
thereby making the procedure more accurate and precise. Moreover, it helps
physicians make more informed decisions while assisting patients, which in
turn, ensures optimum treatment. In addition, the rising number of products
specializing in treatment selection is observed across the global liquid biopsy
market, for treating diverse cancer types, including, colorectal cancer, breast
cancer, lung cancer, and others.
North
America Dominated the Global Market in 2020
Key factors facilitating the liquid biopsy market growth in
North America include the increasing rates of cancer, the growing preference
towards non-invasive diagnostic technologies, the surging geriatric population,
and the expanding prominence of companion diagnostics, across the region.
Since the global market is continually developing and
emerging, customers often prefer trying popular products as it is convenient to
shift from one product to another. However, owing to this factor, the loyalty
of customers is endangered. As a result, the competition within the global
liquid biopsy market is predicted to be medium to high.
Some of the distinguished players operating in the market
are, Qiagen NV, Agilent Technologies Inc, Becton, Dickinson, and Company (BD),
etc.
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Research
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research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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