March 04, 2021
According to a recent study titled ‘Liquid Biopsy Market Share, Size, Trends, & Industry Analysis Report, By Technology; By Sample Type; By Biomarker; By Application; By Region and Segment Forecast, 2019-2026’, available with Market Study Report, global liquid biopsy market size is anticipated to record a healthy CAGR of 21.9% during 2019-2026, and surpass a valuation of USD 3,362.6 million by the end of the forecast period.
Global liquid biopsy market size is expanding significantly owing to surging cases of various cancer types, rising patient inclination towards minimally invasive procedures, and growing focus among key players towards R&D activities, cites the study.
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For the uninitiated, liquid biopsy, also termed as fluid biopsy or fluid phase biopsy, is a conventional method of diagnose the precursors of cancer. It is a simple non-invasive method for tracking tumors and mutations over a time period. Although it is instrumental in early detection of cancer, it is overshadowed by tissue biopsy to a great degree.
Based on technology, multi-gene-parallel analysis (NGS) and single gene analysis (PCR microarrays) currently lead the global liquid biopsy cancer market growth. NGS involves diagnosis of multiple diseases at one instance, whereas PCR is utilized to analyze mutation among genes.
In terms of sample type, the industry is fragmented into saliva, blood, urine and other body fluid. Among these, blood segment will likely record strong growth as this sample is the most preferred type for customary analyses as it contains cell free DNA, exosomes, and circulating cells that enables for easy detection of cancerous cells.
Elaborating on biomarker type, circulating tumor cells CTC segment account for majority of global liquid biopsy market share owing to their high accuracy in tracking results of cancerous cells in the body.
Considering the geographical scope, North America market is slated to grow significantly during the forecast period due to spike in number of facilitators for cancer diagnostics and escalating number of target patients in the region.
Speaking of the competitive landscape, key players in global liquid biopsy market sphere are MDxHealth SA, Guardant Health, Inc., RainDance Technologies, Inc., TrovaGene, Inc., Biocept, Inc., Thermo Fisher Scientific, Inc., Qiagen N.V., Menarini Silicon Biosystems, Bio-Rad Laboratories, Inc., Myriad Genetics, Inc., Illumina, Inc., and F. Hoffmann-La Roche AG.