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Initiatives taken by government and global health organizations in liquid biopsy management is expected to drive the growth of the market
According to the latest study on ‘Liquid Biopsy Forecast to 2027 - Covid-19 Impact and Global Analysisby Product & Services, Sample, Circulating Biomarker, Application, and End User.’ The global liquid biopsy market was valued at US$ 3,861.49 million in 2019 and is projected to reach US$ 8,123.85 millionin 2027; it is expected to grow at a CAGR of 9.9% during 2020–2027. The report provides trends prevailing in the global liquid biopsy marketand the factors driving market along with those that act as hindrances.
The government for early detection of cancer takes various initiatives. For instance, the National Institutes of Health (NIH) started a new initiative called Precompetitive Collaboration on liquid biopsy for early cancer assessment. The purposes of this initiative are to establish a Public-Private Partnership Program for the development of new or validate existing technologies, methods, and assays for the capture and quantification of tumor-associated cells, RNA, DNA, or exosomes in body fluids of patients with an early-stage disease or those at high risk. This initiative emphasis early cancer detection by distinguishing aggressive and nonaggressive cancers, and differentiates benign disease from cancer.
The NCI'scommitment of funds towards R&D of clinical advanced technology will encourage the investigators to expand their research for early detection of cancer and accelerate clinical adoption of these promising technologies.
European countries are also taking initiatives for early detection of cancer. For instance, the Innovative Medicines Initiative funded the CANCER-ID project, initiated on 1stJanuary 2015. It is a public-private partnership between the EU and the European pharmaceutical industry, which includes 38 partners from 13 European countries, along with groups from the US and a company in Singapore. These partners are brought together to develop and validate standardized operating procedures for liquid biopsies
Based onsample, the Liquid Biopsy market has been segmented into blood based, urine based, and other samples. The blood basedsegment held the largest share of the market in 2019, and the same segment is estimated to register the highest CAGR in the market during the forecast period.Blood based is expected to remain dominate owing to its non-invasive and painless characteristics; it does not involve surgery and decreases the cost and diagnostic time.
Biocept, Inc., Bio-Rad Laboratories, Inc., Lunglifeai, inc, Exosome Diagnostics, F. Hoffmann-la Roche ltd, Inivata ltd,Exact sciences corporation, Mdxhealth, Qiagen, and Thermo fisher scientific inc. areamong the leading companies present in the liquid biopsy market.
The Report Segments Global Liquid BiopsyMarket as Follows:
By Product & Service
By Sample
By Circulating Biomarker
By Application
By End User
By Geography
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