Liquid Biopsy Market Report Provides a Comprehensive Analysis of Market Trends, Technological Advancements

The global liquid biopsy market size is expected to witness extensive growth in the coming years due to the advent of technological innovations to develop minimal invasive biopsy testing, global rise in prevalence of cancer and associated research. Among different product & services, the largest market is for assay kits, globally, due to the increase in adoption of the tests over classical biopsy testing, and the wide application it renders. The wide adoption has led to frequent usage of assay kits in comparison to the other offerings such as instruments and services.

Different circulating biomarkers used in liquid biopsy include circulating tumor cells (CTCs), circulating tumor DNA (CTDNA), cell-free DNA, extracellular vesicles (EVs), and others. Among the available circular biomarkers, the extracellular vesicles are anticipated to be the fastest-growing segment during the forecast period. This is due to the growing interest in EV research from biofluids that includes samples such as blood and urine for diagnostic and therapeutic monitoring.

Various factors leading to the growth of the liquid biopsy industry include the rise in number of new cases of cancer and the growing prevalence of the disease, globally. The market is also driven by the rise in preference to minimally invasive procedures in comparison to the conventional methods, and the government expenditure on healthcare with focus on cancer research worldwide. The technological advancements, and increasing demand for personalized medication will also support the growth of the industry. However, certain factors such as concerns related to the sensitivity and specificity of the obtained results are hindering the growth of the market.

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The liquid biopsy industry provides immense opportunities to the key players, as it gives faster results and can also be a cheaper option over the conventional method. Moreover, it has become more clinically useful in recent years due to the ability to pair tests on CTCs with genomic tests. Subsequently, the key players are also exploring opportunities by leveraging their precedence in technological advancement.

For instance, in April 2017, Menarini-Silicon Biosystems, Inc. acquired all the assets and relevant business related to the CELLSEARCH Circulating Tumor Cell System from Janssen Diagnostics, LLC. CELLSEARCH Circulating Tumor Cell Test is the first USFDA clinically approved blood test for detecting and enumerating CTCs to help manage patients with metastatic breast, prostate, and colorectal cancers. The test also received clearance from the China Food and Drug Administration for the use in monitoring metastatic breast cancer patients. With the acquisition, Menarini-Silicon Biosystems, Inc. has for the first time entered into the U.S. diagnostic market.

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Some of the other major players in the global market include Qiagen N.V., Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Illumina, Inc, Trovagene, Inc., Guardant Health, Inc., Genomic Health, Inc., MDxHealth SA, and F. Hoffmann-La Roche Ltd.