Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Liquid Biopsy Diagnostic Market is expected to inflate at impressive CAGR by the forecast period (2018 – 2025).
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Highlights of the Report:
According to a report published by The World Health Organization in 2017, the number of breast cancer deaths around the globe is expected to increase. By 2040, more than 991,000 women are expected to die annually of breast cancer across the globe.
The potential for liquid biopsies to lead to early detection of cancer may impact several product lines, mainly critical illness (CI) and medical insurance. Over the past few years, CI has undergone several innovations. Companies now offer staged, multi-pay, and cancer-only plans. A unique selling point of cancer-only and staged CI plans is they cover early-stage cancers as well. Increased near-term utilization of liquid biopsy as part of routine screening tests or diagnostic protocols could lead to higher cancer incidence rates than anticipated. This could impact the pricing assumptions of certain products, especially those offering early-stage cancer benefits.
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Recent mainstream news flow has made much of the CancerSEEK diagnostic test, particularly its ability to detect multiple types of cancer from a single blood sample. In reality, further confirmatory tests will be required post-screening before a patient is placed on the current standard of care for their particular cancer. Also, the test’s sensitivity falls to 70% for the purposes of screening certain cancers, which is insufficient to drive standalone clinical decisions. Therefore, considerable further development and validation of liquid biopsy-type platforms are required to establish such a ‘one stop’ diagnostic test. Among the key competitors in liquid biopsy, Biocept, Oncocyte and few others are creating buzz in the market.
Overall, the liquid biopsy (LB) concept complements the personalized medicine approach and provides an innovative way for patient selection in clinical trials, here mutational analysis supports patient eligibility for targeted therapy.
While we do not anticipate that LB will fully replace or directly compete with SB for most diagnostic purposes any time soon, we do very much foresee that LB will complement SB rapidly within the next 3–5 years and will become a tool of choice for dynamic monitoring of patients on treatment or under active surveillance. In many instances, LB will also prompt further imaging workup and/or re-biopsy of tissue lesions.
Features of the Report
Here are the key features of the report:
- Strategic Segmentation
- Competitive Analysis
- Strategic Growth Opportunities
- Swot Analysis
- Key Players
- Forecast Analysis & Future Growth
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