Liquid Biopsy Markets Reach $394 Million: Double-Digit Growth Expected
ROCKVILLE, Md., July 11, 2017 /PRNewswire/ -- The global market for liquid biopsy diagnostic and monitoring tests had estimated revenues of approximately $394.1 million in 2016. Although in early stages, the global market has exhibited a trend of solid growth, in particular as a result of the gradual shift towards personalized medicine in oncology clinical practice, and the recent introduction of a significant number of new liquid biopsy tests that address the need for less-invasive testing of tumor biomarkers to guide treatment decisions.
Growth is expected to continue at over 27% for the next five years. The growing incidence of cancer and healthcare spending in the oncology area contribute to the high demand for diagnostic and monitoring tests, especially the non-invasive type such as liquid biopsy assays. Kalorama made its finding in its latest report, The Worldwide Market for Liquid Biopsy, authored by biotechnology and diagnostics market analyst Adriana Rusu.
Liquid biopsies also provide a more comprehensive picture of the tumor's heterogeneity; given the intra-tumor heterogeneity, as well as that between the tumor and metastatic lesions, liquid biopsy tests are believed to provide a more holistic image of the tumor genome at a particular point in time than tissue biopsies or other diagnostic and monitoring techniques. The term liquid biopsy encompasses various diagnostic methods that use liquid, non-tissue specimens to provide information that can aid in the diagnosis and monitoring of cancer.
According to Kalorama Information's report, the currently available liquid biopsy technologies employ the analysis of various types of analytes, including circulating tumor DNA (ctDNA), circulating tumor cells (CTCs), extracellular vesicles (exosomes), proteins, miRNA and mRNA. Among them, ctDNA and CTCs have been the most explored and commercially developed technologies up to the present time.
Currently, tissue biopsies, along with imaging techniques, are the standard methods used in the diagnosis of solid cancers, but despite their widespread use, they have many limitations that open the door for other diagnostic technologies in oncology clinical settings. Compared to tissue biopsies, liquid biopsies have several advantages, including a less or non-invasive nature, lower cost, decreased risk, and faster turnaround time for results. Moreover, liquid biopsies offer the possibility of repeating the tests as necessary after the tumor has been surgically removed, and at various stages during and after the course of therapy. Liquid biopsies also provide a more comprehensive picture of the tumor's heterogeneity; given the intra-tumor heterogeneity, as well as that between the tumor and metastatic lesions, liquid biopsy tests are believed to provide a more holistic image of the tumor genome at a particular point in time than tissue biopsies or other diagnostic and monitoring techniques.
Geographically, North America amounted for the majority of revenues in this market, holding forty percent of the overall market in 2016.
Kalorama Information's report contains profiles of segments of the liquid biopsy market, including established IVD competitors such as Roche and Qiagen as well as specialists in liquid biopsy. The report can be found at: https://www.kaloramainformation.com/Worldwide-Liquid-Biopsy-Analyte-ctDNA-cfDNA-Application-Screening-Drug-Monitoring-Diagnostic-Region-Europe-Asia-ROW-Type-Cancer-10975987/.
About Kalorama Information
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