According to the report analysis, ‘Liquid Biopsy Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts: 2017-2023’ states that there are several key players which recently performing in the liquid biopsy market across the globe for leading the fastest market growth and registering the high value of revenue throughout the short span of time while decreasing the cost of test with growth in reimbursement facilities, deduction in ethical issues and effective increasing the skilled professional for functioning advanced diagnostics testing involves Biocept, Inc, F- Hoffmann-la Roche, Illumina, Inc, NateraInc, Trovagene Inc., Qiagen N.V., Laboratory Corporation of America Holdings, Beijing Genomics Institute, Guardant Health, Inc., Genomic Health, MDx Health SA, Guardant Health, Inc., Myriad Genetics, Inc., and several other predominate & niche players.
The liquid biopsy market has boomed up owing to the effective rise in the prevalence of cancer across the globe, developed maternal age prominent to increasing chromosomal aberrations, and the effective augment in the preference of non-invasive liquid biopsy tests over the invasive tissue biopsy. Whereas, the liquid biopsy is an insignificantly and non-invasive technology that monitors molecular biomarkers utilizing the liquid sample without the requirement of the expensive or invasive processes. Such tests have considerable potential for the early monitor of cancer, treatment and reappearance observing, detection of genetic irregularities in the fetus, and graft denunciation in the transplantation patients.
In addition, According to the Canadian Cancer Society, 202,400 novel cases of cancer and approximately 78,000 deaths are predicted in 2016. While in Europe 1.3 million people were established in 2015. Further, according to the study of World Health Organization, almost 14 million new cancer circumstances were detected and is predictable to augment by approximately 70% over the coming 2 decades.
The Global Liquid Biopsy Market is predictable to observe a CAGR of 24.1% during the forecast period of 2017-2023. However, the market of liquid biopsy is sectored into different regions which majorly involves North America, Europe, Asia Pacific, and Rest of the World (RoW). The Americas is set to be the leading region for the liquid biopsy market growth followed by Europe. Asia Pacific and RoW are set to be the unindustrialized regions.
Additionally, based on the application, the global liquid biopsy market by application is sectored into cancer and non-cancer applications. The Cancer sector conquers the largest market share and is anticipated to be the fastest augmenting segment during the forecasted period. Cancer application is further sectored by the cancer indication and clinical application. Furthermore, on the basis of end-user, the global liquid biopsy market by end-users is sectored into hospital and reference laboratories, academic and research institutes, and several others. Hospital and reference laboratories employed a foremost share of liquid biopsy market in 2016 owing to the growing volume of test mockups outsourced to this sector.
In the recent times, the cancer tests account the global liquid biopsy market. A lot of fresh players are thinking more significantly on this market to deliver the ground-breaking test with great sensitivity, specificity, and low turnaround time. The foremost market players are attaining the small companies to deliver their product portfolio and support their leadership position across the market. Therefore, in the near future, it is predicted that the market of liquid biopsy will increase around the globe more significantly over the coming decades.
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Ankur Gupta, Head Marketing & Communications