Global Liquid Biopsy Market to See 21.1% Annual Growth Through 2023
Popularity Boosted by Lack of Side Effects and Discomfort
WELLESLEY, Mass., May 16, 2019 (Newswire.com) - Liquid biopsies are emerging as an attractive option to supplement or as an alternative for tissue biopsies in reproductive health, cancer and transplant medicine, according to a report by BCC Research.
The market expects to see a compound annual growth rate (CAGR) of 21.1% through 2023, when it could be worth $6.1 billion, according to the report Liquid Biopsy with Emphasis on NIPT: Global Markets to 2023.
Major players in the market include Agilent Technologies, Illumina, PerkinElmer, Roche, Thermo Fisher Scientific and Arup Laboratories.
Research Highlights
- Cancer liquid biopsies will lead the market by growth, with a CAGR through 2023 of 41.7%, followed by non-cancer at 14.1%.
- Nucleic acid biomarkers will lead the market by size, with a 2018 value of $2.3 billion, followed by cells at $22.9 million and proteins at $21.6 million.
- By analysis platform, growth will be led by proteomics with a CAGR through 2023 of 38.4%, followed by PCR at 38.4% and NGS at 19.1%.
“Ongoing advances in sensitive molecular technologies such as next-generation DNA sequencing (NGS) and digital polymerase chain reaction (dPCR) enable the detection of biomarkers that are present in fluids at very low concentrations.," the report authors note. "The biomarker types garnering the most interest include cell-free DNA (cfDNA), circulating tumor cells (CTCs) and exosomes.”
Restraints Include Legal and Regulatory Issues, Access to Advanced Technologies
A number of factors are acting to restrain growth of the market. Chief among them are legal and regulatory issues, particularly in the U.S. and Europe, while in many developing nations, genetic testing occurs without regulatory oversight. Meanwhile, the availability of prenatal genetic technologies varies globally. While patients in affluent urban communities are able to secure adequate information about prenatal testing and access to NIPT, the same is not true for residents of rural areas, urban slums, and other underserved regions, and access to prenatal screening is simply not available in many countries in the Middle East, Africa and South America.
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Source: BCC Research
