Liquid Biopsy Market – Analysis and Forecast To 2024 | Genomic Health, Inc., Guardant Health.

The global liquid biopsy market is growing at a significant rate, due to the mounting occurrence of cancer, and escalating emphasis on personalized medicine. Different product and services such as assay kits, services, and instruments contributed to the global market size. The market has witnessed a high demand for assay kits due to mounting need for biopsy tests, the necessity for dependable and precise assays, and escalating applications of liquid biopsies. The increasing number of mergers and acquisition, strengthening product offerings, and increasing emphasis on geographic expansion are the major trends observed in the liquid biopsy industry.

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Low sensitivity and specificity, uncertain regulatory and reimbursement scenario are the major challenges for the growth of the liquid biopsy market.

Changing perspective in emerging economies such as India, and China regarding the usage of the usage of the technology and its increasing adoption for the treatment of rare cancer are the major opportunities of the liquid biopsy market.

Awareness of innovative technology has to upsurge access to personalized medicine for cancer patients. It has the ability to offer information about cancer devoid of invasive biopsy. It uses circulating biomarkers such as RNA, DNA, and protein for the monitoring, detection, diagnosis, and detection of reoccurrence.

Asia-Pacific is observed to witness the fastest growth in the liquid biopsy market due to the mounting occurrence of cancer, and escalating disposable income in the region.

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In addition, in April 2018, QIAGEN N.V. launched the AdnaTest ProstateCancerPanel AR-V7 Kit and AdnaTest LungCancer Kit to evaluate circulating tumor cells. Biocept, Inc., Roche Diagnostics, Trovagene, Inc., Illumina, Inc., QIAGEN N.V., Menarini-Silicon Biosystems, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Genomic Health, Inc., Guardant Health, Inc., and MdxHealth SA are the key players offering liquid biopsy products.

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