Liquid Biopsy Market Is Anticipated To Reach $5.96 Billion By 2030: Grand View Research, Inc.
Global liquid biopsies market is anticipated to reach
5,958.3 million by 2030, according to a new report by Grand View Research, Inc.
As these less invasive biopsies are able to address a number of significant
challenges associated with conventional biopsies such as, high level of
invasiveness, incompleteness of cancer information that is acquired, associated
post-biopsy serious medical complications, and subsequent cost inclusions. A
growing need for more advanced, efficient and accurate method which provides a
holistic view of the tumor and metastasis is the prime factor fueling rapid
development of liquid biopsies.
The
market has gained considerable traction in the past couple of years. A number
of clinical research projects related to circulating tumor cells, and cell-free
tumor DNA have been initiated in the latter half of the past decade. As a
result, there are a number of ongoing clinical trials that are due to be
completed between post 2017-18. It is expected that upon successful completion,
commercialization of these assays and tests will provide the market a
significant boost in potential addressable target revenue and fuel growth
through to 2030.
U.S. liquid
biopsy market, by application, 2013 - 2030 (USD Million)
Browse full research report on Liquid
Biopsy Market: http://www.grandviewresearch.com/industry-analysis/liquid-biopsy-market
Further
Key Findings From the Study Suggest:
- In terms of applications, therapy selection of
metastatic cancers is the key area of liquid biopsy usage as these provide
significant insights into the unique genetic information encoded in CTCs
and ctDNAs. Furthermore, with the addition of more research data
reinforcing the usage of liquid biopsies over the coming years, it is
expected that their application for molecular monitoring of diseases will
also be a lucrative source of revenue through to 2030
- Key biomarkers that any liquid biopsy targets
include circulating tumor cells, circulating tumor DNA and exosomes that
are macrovesicles containing tumor RNA, or tumor protein freely
circulating in the patient’s bloodstream. Assays for ctDNA are expected to
account for the largest share of revenue through to 2030 owing to the
currently present assays and expected number of products that are to be
commercialized over the coming decade.
- Development of parallel multi-gene analysis
using next generation sequencing technology is the underlying factor that
has enabled oncologists to more efficiently sequence ctDNA and gain
insights related to cancer metastasis and the related mechanism. This
understanding provides a patient-centric systemic view of cancer and aids
in its long term monitoring.
- North America, specifically the U.S. accounts
for the largest share of revenue for the development of liquid biopsy
market. The region was observed to account for around 50% of the global
potential in 2015 owing to the high number clinical development projects
underway for the commercialization of CTC and ctDNA assays till 2020.
Furthermore, throughout the forecast period, U.S. is expected to dominate
revenue generation owing to the dynamic nature & being the region of
prime activity, research and development with respect to liquid biopsy and
next generation sequencing technology.
- Although, post successful commercialization
through to 2030, Asia Pacific is expected to be a lucrative region for
development as it is expected to be characterized by the presence of a
large patient population base, developing healthcare framework and growth
in integration of more advanced healthcare practices.
- The market is in its developing phase and is
characterized by the presence of a number of relatively smaller entities
involved in innovation and new product development. Companies such as
Biocept, Adaptive Biotechnologies, NeoGenomics Laboratories, Guardant
Health, Qiagen, Personal Genome Diagnostics, Cynvenio, RainDance
Technologies, and Trovagene are operating in the space and have a number
of commercialized assays in their portfolios for liquid biopsy.
- Furthermore, as this space has a high lucrative
potential, and is considerably influenced by the developments in NGS
technology, there are a number of major players that have ongoing
investigational & observational clinical trials and are due to be completed
by 2017 to 2019. Collectively, over 30 clinical trials are currently
registered as active by companies including Illumina, Foundation Medicine,
Natera Inc., Roche, Sequenom, LabCorp, Epic Sciences, and Pathway Genomics
in the U.S. alone. Anticipated successful commercialization of these
products is expected to fuel growth over the forecast period.
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/liquid-biopsy-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, the company offers market intelligence studies
ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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