Liquid Biopsy Market: Government and Global Health Organizations Initiatives
The liquid biopsy market was valued at US$ 3,861.49 million in 2019and is projected to reach US$ 8,123.85 million by 2027; it is expected to grow at a CAGR of 9.9% during 2020–2027.
Liquid biopsy is a revolutionary technology that is opening up various perspectives. The technology consists of isolation and detection of circulating tumor cells, tumor DNA and exosomes, which provides genomic information of the cancer patients. Liquid biopsy is used in cancer diagnosis in order to study the response or resistance to given treatments.Different samples used for liquid biopsy are blood, urine, and other samples which includes stool and others. Additionally, circulating tumor cells (ctc), exosomes, and free nucleic acid are the circulating biomarkers used for detection of cancers.
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Key Findings from The Liquid Biopsy Market
- Based on product and services the liquid biopsy market is segmented into equipment, reagents & kits and services. The reagents & kits segment held the largest share of the market in 2019 and the same segment is anticipated to register the highest CAGR in the market during the forecast period.
- Based on sample, the liquid biopsy market is segmented into blood based, urine based, and other samples. The blood based segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period owing to its remarkable advantages over the conventional method.
- Based on circulating biomarker, the liquid biopsy market is segmented into circulating tumor cells (CTC), exosomes, and free nucleic acid. The circulating tumor cells (CTC) segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period. Factors helping to remain CTC market dominate are advantages over traditional tissue biopsies, as they are non-invasive, can be used repeatedly, and provide more useful information on cancerous cell risk, disease progression, and treatment
- Based on application, the liquid biopsy market has been segmented into noninvasive prenatal testing (NIPT), oncology, transplant diagnostics, and other applications. The oncology segment held the largest share of the market in 2019; however, noninvasive prenatal testing (NIPT) segment is estimated to register the highest CAGR in the market during the forecast period.
- Based on end user, the liquid biopsy market has been segmented into academic & research institutes, hospitals, reference laboratories, and other end users. The hospitals segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period.
- 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. are among the key players present in the liquid biopsy market.
Government and Global Health Organizations Initiatives
The liquid biopsy test is conducted to detect cancer at an early stage. The test is performed either on a blood sample to identify cancer cells present in the in blood stream, or on the DNA extracted from tumor cells. 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.
In China and the US, the central government and biotech investors have been financing lung cancer screening by investing in Research & Development and complementary or improved screening tools and diagnostics, such as biomarkers and liquid biopsies.
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