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(Health-NewsWire.Net, July 27, 2021 ) According to the market research report Liquid Biopsy Market is expected to reach $2,047.9 Million by 2022 from an estimated $715.7 Million in 2017, at a CAGR of 23.4%.
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Some of the key factors driving the growth of this market include increasing preference for noninvasive procedures, increasing prevalence of cancer and availability of funding for liquid biopsy R&D.
By clinical application, the therapy selection segment is expected to account fors the largest market share in 2017.
Based on clinical application, the liquid biopsy market is segmented into early cancer screening, therapy selection, treatment monitoring, and recurrence monitoring. The therapy selection segment is expected to account for the largest share of the liquid biopsy devices market in 2017. This is due to the ability of therapy selection to detect advanced-stage cancers (stage III and IV), followed by increasing studies on liquid biopsy and advancements made in this field to also aid in detection of early-stage cancers.
By application, the cancer segment is expected to account for the largest market share in 2017. Based on application, the market is segmented into cancer and non-cancer applications (which includes reproductive health and organ transplant diagnostics). In 2017, cancer applications segment is expected to account for the largest share of the liquid biopsy market.
By circulating biomarkers, circulating tumor cells is expected to account for the largest market share in 2017. Based on circulating biomarkers the market is categorized into circulating tumor cells (CTCs), circulating tumor DNA (ctDNA), cell-free DNA (cfDNA), extracellular vesicles (EVs), and other circulating biomarkers. In 2017, the circulating tumor cells segment is expected to account for the largest share of the liquid biopsy market.
By product, the assay kits segment is expected to account for the largest share of the market in 2017. On the basis of product, the market is broadly segmented into assays kits, instruments, and services. In 2017, the assay kits segment is expected to account for the largest share of this market.
Based on end user, the liquid biopsy market is segmented into reference laboratories, hospitals and physician laboratories, academic and research centers, and other end users (public health laboratories, pathology laboratories, and small molecular laboratories). Reference laboratories form the largest and fastest-growing end-user segment of the liquid biopsy market. The can be attributed to the large volume of tests being outsourced to reference laboratories from oncologists and hospitals.
North America is expected to account for the largest share of the global liquid biopsy market in 2017, while Asia Pacific is expected to witness the highest growth during 2017 to 2022. Growing demand for non-invasive treatment, rising incidence of cancer, and improving healthcare infrastructure are driving the growth of the liquid biopsy market.
The key players in the global liquid biopsy market are QIAGEN N.V. (Netherlands), Roche Diagnostics (US), Bio-Rad Laboratories Inc. (US), Myriad Genetics, Inc. (US), Menarini Silicon Biosystems (Italy), Genomic Health, Inc. (US), Thermo Fisher Scientific Inc. (US), Illumina, Inc. (US), Biocept, Inc. (US), Trovagene, Inc. (US), Guardant Health, Inc. (US), RainDance Technologies, Inc. (US), and MDx Health SA (US).
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Recent Developments
> In March 2017, QIAGEN N.V. (Netherlands) launched AdhaTest Prostate Cancer Panel AR-V7. AdnaTest Prostate Cancer Panel AR-V7 A are used to detect the androgen receptor splice variant 7 (AR-V7) from liquid biopsies to investigate resistance to potential drugs for advanced prostate cancer.
> In March 2017, Roche Diagnostics (Switzerland), launched AVENIO circulating tumor DNA (ctDNA) Analysis Kits. The kits include all reagents, bioinformatics and software to make ctDNA testing accessible to all NGS laboratories.
> In April 2017, Myriad Genetics Inc. (US), partnered with BeiGene (Cayman Islands). BeiGene is a biopharmaceutical company focused on developing molecularly targeted and immuno-oncology drug candidates for the treatment of cancer. As per this partnership, BeiGene will use Myriad’s myChoice HRD and BRACAnalysis CDx companion diagnostic tests to support the clinical development of its novel PARP inhibitor, BGB-290.
> In April 2017, Menarini Silicon Biosystems (Italy), Inc. acquired Janssen Diagnostics, LLC. (US). This acquisition of Janssen Diagnostics' business related to CELLSEARCH Circulating Tumor Cell System. The acquisition marks Menarini-Silicon Biosystems’ first entry into the US diagnostics market.
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