Global Liquid Biopsy Market Is Expanding Owing To The Increasing Research And Developmental Activities And Growing Demand For Non-Invasive Disease Diagnosis
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Liquid Biopsy |
Overview:
Liquid
Biopsy is a diagnostic tool for early detection of
cancer. It is also used for monitoring patient response to treatment. Liquid
biopsy has received high hopes and expectations from investors. This technology
has the potential to revolutionize the field of early cancer detection and
provide patients with better outcomes. The ability to detect a cancer biomarker
is crucial for reliable results. Once this is achieved, the technology can be
applied to improve cancer prevention, treatment, and the quality of life for survivors.
The ability to find and treat cancer at an early stage can save countless
lives. A liquid biopsy test can help determine if the patient is a good
candidate for targeted therapy. Liquid biopsy tests can identify circulating
tumor cells (CTCs) as well as exosomes. These are released by tumor cells and
can help doctors identify and monitor cancer cells. The test also assesses the
genetic makeup of a tumor. Changes in the genome can be used to predict the
risk of cancer, which can be helpful in treatment planning.
Market Dynamics:
Growing
product launches is estimated to augment growth of the global Liquid
Biopsy Market during the forecast period. For instance, NeXT
Liquid Biopsy was launched by Personalis, Inc., in September 2020. This is a
high-performance, tumor-profiling platform that uses blood samples from tumor
patients in advanced stages. Moreover, increasing lack of specificity and sensitivity
of liquid biopsy tests is anticipated to restrain growth of the global liquid
biopsy market during the forecast period.
Impact of COVID-19:
COVID-19 was transmitted to several nations
globally, and the number of people infected by the virus were increasing daily.
This caused immense stress on many government authorities and led to imposition
of strict regulations in many regions, for preventing the transmission of the
disease. The healthcare sector was also under a lot of stress, as they were not
prepared for this outbreak. During this time, COVID-19 patients were
prioritized by doctors and this affected the treatments of other diseases. Many
other treatments and diagnosis were either delayed or cancelled, as hospitals
were running on full capacity. This had a negative impact on the growth of the global liquid biopsy market.
Key Takeaways:
The global Liquid Biopsy Market is estimated to witness robust growth, exhibiting CAGR of XX% during the forecast period, owing to increasing acquisitions. For instance, Bio-Techne Company acquired Asuragen, Inc., in April 2021. This acquisition will help in the global expansion of Bio-Techne.
North America region has
witnessed significant growth in the global liquid biopsy market over
the forecast period, due to increasing investments and rising presence of
biotechnology companies.
Key players active in the global
Liquid Biopsy
Market are CareDx Inc.,
MDxHealth, GUARDANT HEALTH, Eurofins Scientific INC,
Bio-Rad Laboratories, Inc., Exact Sciences Corporation, Thermo Fisher
Scientific Inc., Myriad Genetics, Inc., Trovagene, Immucor, Inc., RainDance
Technologies Inc., Natera, Inc., MDxHealth, Biocept, Inc., QIAGEN, Menarini
Silicon Biosystems and Genomic
Health.
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