The global liquid biopsy marketis estimated to experience a significant uptake in the forthcoming years, says analyst from the recent report published by Transparency Market Research (TMR). Presently, the global liquid biopsy market is in the initial level, yet expanding at a notable pace. Several new players are emerging in the market, taking up the strategies such as mergers and acquisitions and collaborations among the market players.
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Various research institutes are investing in the research and development activities owing to which the liquid biopsy market is estimated to experience a major growth and diversification in coming years. The key players operating in the global liquid biopsy market are MDxHealth, Bio-Rad Laboratories, Genomic Health, Inc. Biocept, Inc., Thermo Fisher Scientific Inc., and Myriad Genetics, Inc.
Various biotechnological firms have began the trials in China, owing to lenient trials regulations in the nation. This is stimulating the firms to change their base to Europe from America. This is because the trials are more expensive in America and needs strict permission for reimbursement and approval.
According to the report by TMR, the global liquid biopsy market is likely to expand at a steady CAGR of 10.1% during the forecast period from 2018 to 2026. In 2017, the market was evaluated to be of worth around US$ 3,883.2 mn.?
Demand of Personalized Medicines to Propel Growth in Market
On the basis of application, the segment of oncology is likely to lead with the maximum share of the liquid biopsy market. As per the World Health Organization (WHO), in 2015, cancer held around 8.8 mn fatalities. Internationally, 1 out of 6 deaths is because of cancer. Resultantly, increased cases of tumors and demand for personalized medicine are estimated to boost the segment. Developed regions for example, in 2017, Europe and North America held leading position in the entire liquid biopsy market. This is due to increased R&D activities by the biopharmaceutical companies and educational institutes in the mentioned regions.
As a developing collection of verification demonstrates intra-tumoral and tumoral heterogeneity and advancement in cloning, both amid carcinogenesis along with all through treatment achieving gained drug block, the utility of liquid biopsies or blood based tests is winding up logically seen in fundamental plan and clinical practice. Liquid biopsies give a less prominent approach to manage the present most noteworthy quality dimension of diagnosing tumors by tissue biopsies, which are occasionally unfeasible, and can’t be executed as routinely.
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Commercialization of Cancer Diagnosis Test to Boost Demand in Liquid Biopsy Market
The segment of extracellular vesicles is the fastest one to grow in the biomarkers in the market for liquid biopsy. This is a direct result of the developing interest for investigation of bio-liquids, for instance, the urine and blood of tumor patients as strategies for infection analysis and medicinal monitoring. Commercialization of these tests in the offering is assessed to benefit the development of the global liquid biopsy market in the future. Liquid tumor cells tests are applicable in depiction of tumor cells through biochemical marker study, and are foreseen to offer rich development chance to market players.
The data and information presented is based on the findings of a TMR 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.”