Liquid Biopsy Market drivers of growth analyzed in a new research report
Category: #health  By Partha Ray  Date: 2019-08-12
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Liquid Biopsy Market drivers of growth analyzed in a new research report

Liquid Biopsy Market size is projected to experience significant growth from 2019 to 2025. Growing prevalence of cancer across the globe will stimulate the global liquid biopsy market growth over the forthcoming years. According to the World Health Organization, cancer is the second leading cause of death worldwide, accounting over 9.6 million deaths in 2018. Rising alcohol and tobacco consumption have led to rise in global cancer burden. As per World Cancer Report, prevalence of cancer is estimated to increase by approximately 50%, reaching over 15 million new cancer cases by 2020. Thus, increasing disease incidence coupled with minimally invasive technology for cancer diagnosis will augment the market growth.

Increasing preference for minimally invasive procedures will expand liquid biopsy market size in the upcoming period. Liquid biopsy is a safe, pain-free and effective method to detect cancer and other abnormalities. The technology makes use of specimens such as saliva, cerebrospinal fluid, urine or other tissue fluids for detection of biomarkers, thus escalating the customer preference. Furthermore, growing advancements and commercialization of liquid biopsy assays by leading players will boost the liquid biopsy industry growth over the foreseeable future.

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However, ambiguous regulatory scenario and presence of alternatives for liquid biopsy including solid biopsy and digital imaging may impede the industry growth. Liquid biopsy services market will account for significant market size during the forecast timeframe. Rising demand for laboratory services due to better cost-effectivity and no requirement for specialized workforce will impel the segmental growth. Furthermore, high costs associated with the liquid biopsy procedures, will spur the demand for liquid biopsy services in the coming years.

Treatment monitoring clinical application segment is estimated to witness lucrative growth in the projected timeframe. Liquid biopsy efficiently monitors the treatment efficacy than other conventional cancer detection techniques, driving the segmental growth.

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Breast cancer segment will hold considerable revenue size of the global liquid biopsy market. Growing adoption of unhealthy lifestyle and eating habits, less child-bearing and hormone replacement therapies are the major risk factors for breast cancer. Also, increasing preference for non-invasive procedures will impel the demand for liquid biopsy over imaging alternatives for breast cancer screening.

Circulating tumor cells (CTCs) will foresee robust revenue growth. High growth is attributed to presence of regulatory approved assays for detecting CTCs. CTC quantification in the blood gives accurate identification of cancer and its progression, thus offering attractive segment growth opportunities over the future years.

Blood sampling liquid biopsy market segment will account for substantial market share in the projected timeframe. Blood sample allows the laboratory technician to identify cancer cells from a tumor or DNA fragments from tumor cells circulating in the blood. Multiple sampling of blood over time can assist doctors to identify the changes the tumor. Aforementioned benefits will help in segmental growth over the forecast timeframe.

Reference laboratories segment is estimated to foresee rapid growth owing to expansion of laboratory tests offered by these facilities. Many firms are collaborating with reference laboratories to facilitate focused testing and reduce operational costs. In addition, growing adoption of liquid biopsy will expand the segmental growth in the forthcoming years.

The U.S. liquid biopsy market is projected to foresee robust growth owing to growing funding for research and development activities in healthcare diagnostics field across the country. Research efforts in the field of oncology for early detection will offer rapid growth opportunities. In addition, rising incidence of various cancer forms such as breast cancer and prostate cancer will augment U.S. liquid biopsy industry growth during the estimation period.

Some of the key industry players in the global liquid biopsy industry include Qiagen, Biocartis, F. Hoffmann-La Roche Ltd., and Myriad Genetics among the other players. Key strategies undertaken by these firms include new test launch and collaborations to expand their market presence and profitability.

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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