ALBANY, New York, August 23, 2018 /PRNewswire/ --
Transparency Market Research (TMR) has published a new report titled 'Liquid Biopsy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026.' According to the report, the global liquid biopsy market was valued at US$ 3,883.2 Mn in 2017 and is projected to expand at a CAGR of 10.1% from 2018 to 2026. Rising emphasis on personalized medicine, rise in prevalence of cancer, and high preference to noninvasive procedures are some factors that are likely to drive the liquid biopsy market from 2018 to 2026.
Clinical applications of liquid biopsy are increasing rapidly in terms of scope and number. Liquid biopsy is currently being used in non-invasive prenatal testing (NIPT), therapy selection, and treatment monitoring for cancer. Some promising applications of liquid biopsy include cancer treatment and recurrence monitoring, transplant diagnostics, and heterogeneity. Liquid biopsies unlock the tumor heterogeneity issue by sampling biomarkers shed into a common-pooled source (i.e., blood or urine), unlike tumor biopsies which sample a small portion of the tumor that are likely to miss various mutations found elsewhere in the tumor. Liquid biopsy can be utilized to diagnose acute cellular rejection. Transplant liquid biopsies quantitatively measure donor-derived cell-free DNA concentrations. A rise in donor-derived cell free DNA relative to the patient's cell-free DNA suggests more donor cells are dying and acute cellular rejection is likely to happen.
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The report offers detailed segmentation of the global liquid biopsy market based on application, circulating biomarker, end-user, and region. In terms of application, the oncology segment is anticipated to have high share due to increasing cancer prevalence and promising result of liquid biopsies in cancer detection and monitoring.
Reference laboratories to account for major share
The reference laboratories segment is expected to account for a leading share of the market by the end of 2026. The segment is also likely to expand at a rapid pace during the forecast period. Reference laboratories are equipped with all the equipment and consumables required for genetic analysis. Moreover, availability of skilled professionals and ability to handle a vast number of samples simultaneously are estimated to drive the segment during the forecast period.
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Market in Asia Pacific to expand at a significant pace
North America held the major share of the global market, in terms of revenue, and is expected to maintain its position during the forecast period. North America is home to several key market players such as Thermo Fisher Scientific Inc., Genomic Health, Inc., Illumina, Inc., and Biocept, Inc., who have their headquarters in the U.S., which had led to high market share held by the region. Moreover, high awareness about latest health care technologies and higher purchasing power can be anticipated to boost the liquid biopsy market in North America. Favorable reimbursement policies in the region also enable patients to avail of the best of health care facilities. The liquid biopsy market in Asia Pacific is expected to expand at a rapid pace, primarily due to improving health care infrastructure, rising private and public investment in life science research, and technological advancements in countries such as China and India.
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Europe is projected to hold the second-largest share of the market, in terms of revenue, during the forecast period. The developed healthcare infrastructure in Europe has helped the patients undergoing liquid biopsy in covering their expenditure. Most healthcare providers in countries such as Germany, the U.K., and France provide full or partial coverage of costs related to treatment, medication, physicians cost, and tests depending on the patient's insurance plan and income.
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Key Players such as QIAGEN, F. Hoffmann-La Roche Ltd, and Illumina, Inc. to lead the market
The report also provides profiles of leading players operating in the global liquid biopsy market. The major players include Biocept, Inc., MDxHealth, Myriad Genetics, Inc., Bio-Rad Laboratories, Thermo Fisher Scientific Inc., and Genomic Health, Inc.
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