Harrisburg, NC -- (SBWIRE) -- 10/20/2020 -- The liquid biopsy market consists of sales of liquid biopsy services and related products used to detect cancer at an early stage. Liquid biopsy is an easy and minimally invasive technology which involves test done on a blood sample to detect the DNA from tumour cells in the blood. Unlike surgical biopsies it allows medical doctors to find a tumour through a blood test. The liquid biopsy helps in planning further treatment for cancer.

The global liquid biopsy market was worth $2.9 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 20.80% and reach $6.1 billion by 2023.

The liquid biopsy market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in 2019 and Asia-Pacific is expected to grow fastest in the forecast period.

The liquid biopsy market covered in this report is segmented by product into assays kits, instruments, services. It is also segmented by end user into reference laboratories, hospitals and physician laboratories, academic and research centres and by clinical application into early cancer screening, therapy selection, treatment monitoring, recurrence monitoring orthopedics.

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The prominent players in the global Liquid Biopsy market are:

QIAGEN N.V., Roche Diagnostics, Bio-Rad Laboratories Inc., Myriad Genetics, Inc., Guardant Health Inc., Thermo Fisher Scientific, Guardant Health, Menarini Silicon Biosystems, Biocept, Inc. and F. Hoffmann-La Roche AG

Market Segmentation by Region:

North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Europe, Germany, France, UK, Italy, Russia, Rest of Europe, Central & South America

Global Liquid Biopsy Market Overview

Government funds for refining cancer detection drives the growth of the liquid biopsy market. Government funds helps researchers in drug discovery, diagnosis, and treatment of diseases such as Cancer. For instance, in 2019, National Cancer Institute (NCI), a USA-based government agency gave funds worth $2.1 million and a five-year grant to Translational Genomics Research Institute (TGen), a genomics research institute based in U.S.A. The funding enables TGen and Mayo Clinic researchers to drive the clinical trials for liquid biopsy test for the detection of breast cancer. Also, in 2017, the German Federal Ministry of Education and Research raised a fund amount of 500,000 ($531,615) to CeGaT, a German genetic testing firm. The funding was done to support the research and development of liquid biopsy methods used for the analysis of circulating tumor DNA. Therefore, government funds positively impact the growth of liquid biopsy market.

Unclear regulations on laboratory developed tests (LDT) for liquid biopsy have always been a major challenge in the liquid biopsy market. A laboratory developed test (LDT) is an in-vitro diagnostic test (IVD) intended for clinical use that is designed, manufactured to be used in a single laboratory. For instance, in 2019, the Food and Drug Administration (FDA) proposed a plan to increase the regulations for the approval of laboratory developed tests. However, the regulations are unclear and do not reduce the time it takes for the approval of these tests. Following this, the FDA, till 2019, has approved only two liquid biopsy tests. The first test which identifies EGFR mutations in NSCLC patients was approved in 2016 while the second test for detecting the PIK3CA mutation in patients was approved in 2019. Such delays in the approval of liquid biopsy tests by the FDA are expected to have a negative impact on the liquid biopsy market.

Companies are rapidly adopting new market dynamics and focusing primarily on new product launches, to meet the ever-increasing need for liquid biopsy products and services, to increase their revenue and also for gaining a competitive edge over their rivals. For instance, in 2017, QIAGEN N.V., a Germany based provider of sample and assay technologies for molecular diagnostics broadened its pipeline in liquid biopsy by launching AdnaTest Prostate Cancer Panel AR-V7. This panel is used for detecting androgen receptor splice variant 7 from liquid biopsies for investigating resistance in new medicines for advanced prostate cancer. The AdnaTest provides a significant biomarker for clinical research to provide for the future development of the diagnosis of prostate cancer by providing precise insights from tumor cells in blood samples. Thus, companies are investing in the development of new products in the liquid biopsy market.

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In October 2018, Precision for Medicine, a part of the Precision Medicine Group, acquired Apo-Cell for an undisclosed amount. The acquisition adds ApoCells expertise in tissue genomic profiling and liquid biopsy technology to Precision for Medicine. Precision Medicine Group is a US-based pharmaceutical company involved in the development and commercialization of drugs. ApoCell, Inc., is a US-based lab involved in the identification and analysis of customized biomarker solutions.

Furthermore, Global Liquid Biopsy Market following points are involved along with a detailed study of each point: –

– Global Liquid Biopsy Market Overview, Drivers, Restraints and Opportunities, Segmentation overview

– Global Liquid Biopsy Market competition by Manufacturers (2020-2026)

– Production and Consumption by Regions

– Complete profiling and analysis of Manufacturers (2020-2026)

– Manufacturing cost analysis, Materials analysis, Region-wise manufacturing expenses

– Industrial Chain, Sourcing Strategy and Downstream Buyers

– Marketing Strategy Analysis, Distributors/Traders

– Global Liquid Biopsy Market Effect Factors Analysis (2020-2026)

– Global Liquid Biopsy Market Forecast (2020-2026)

– Global Liquid Biopsy Market Research Findings and Conclusion

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In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyses key emerging trends and their impact on present and future development.

All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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