MarketResearchFuture.com published a Half-Cooked research report on “Global Liquid Biopsy Market Research Report – Forecast to 2022” reports to its database. – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
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A liquid biopsy is a diagnostic application occurring from the advances in human genome sequencing and molecular biomarkers. Liquid biopsy provides a non-invasive test using liquid samples such as blood, urine, etc. for the detection of diseases such as cancer, cardiovascular, and other ailments. The global liquid biopsy market is anticipated to generate USD 1.7 billion by 2022, and growing by a rocking CAGR of 28%.
The prominent players in the global liquid biopsy market are Guardant Health, Inc., Agena Bioscience Inc., Trovagene Inc., Circulogene Theranostics, Admera Health, RainDance Technologies, Biocept, Inc., Exosome Diagnostics and others.
Market News and Trends:
Spectacular revenue growths attracting startup funding
The liquid biopsy industry has generated spectacular results culminating in large startup funding. For example, Exact Sciences generated an approximate 150 % increase over its 2015 revenues, on account of excellent performance and faster market uptake of its colorectal cancer test Cologuard. GRAIL diagnostics raised approximate USD 900 million in a series of financing rounds which is estimated to double in the next stage of rounds.
Business models are as important as the test itself!
Lend and lease business model is expected to deliver faster market adoption. The high cost of installation and maintenance of liquid biopsy is a deterrent especially for smaller hospitals which do not possess the buying power says Mr. Suhail Noolkar, researcher at Market Research Future. He further estimated lend and lease agreements would benefit both the players and clients, as it will relieve clients of paying a large upfront sum, which it allows the companies a steady revenue and beat competition from other players.
Vascular diseases such as lung cancer, cardiovascular diseases are expected to result in impressive growth.
To give an accurate assessment of the differential potential of the market the report is divided into segments such as biomarker type, application, end users and regions.
Biomarker type – circulating tumor cells (CtCs), extracellular vesicles (EVS), circulating tumor DNA (CtDNA), and other biomarker.
Application – reproductive health, cancer therapeutic application, and other therapeutic application. Sample – blood, urine and others.
End Users – hospitals and laboratories, academic and research centers and others.
The clinical drivers of the market include painless and non-invasive technique, early high precision detection of diseases. Tissue biopsy has drawbacks such as low detection rate, is expensive and needs approximately 30 days compared to 12 days for liquid biopsy. Tissue biopsies cost around $15,000 to $60,000 U.S. dollars, which may increase due to high failure rate of approximately 25%. However liquid biopsy tests are available for less than 6000 USD. For instance Pathway Genomics and Guardant360 offered liquid biopsy test for cancer at $299 and $5,800 respectively. Further real time molecular assessment afforded by liquid biopsy allows designing treatment strategies based on the disease progression.
The critical demographic driver of the market is the rise in incidence of cancer and other diseases coupled with growing risk factors such as tobacco use, infections such as hepatitis, human papillomavirus (HPV) etc., exposure to ionizing radiation and others. The World Cancer Report, of World Health Organization predicts 50% rise in cancer rates by 2020 which represents 15 million new cases. Cardio vascular diseases account for an estimated 17.5 million people in 2012, representing one third of all global deaths.
Technological drivers such as growing spectrum of mutations detected by liquid biopsy, development of array of advanced biomarkers, advancements in detection technology such as PCR technology and others. Next generation sequencing (NGS) coupled with growing automation is expected to generate additional growth in the upcoming years.
The economic restraints on the market are the prohibitive cost of liquid biopsy which can reach USD 12000. The clinical restraints are variation in their sensitivity and detection rate for different DNA markers, poor detection rates of dormant cancers such as prostrate and brain, scarcity of trained professionals, and others.
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