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 |
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 diagnoses 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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