Dublin, Dec. 30, 2021 (GLOBE NEWSWIRE) -- The "Global Liquid Biopsy Market by Circulating Biomarker, Product, Application, End User, Clinical Application, Cancer Types, Sample Type, Regional & Country Wise Analysis - Impact of COVID-19, Initiatives, Funding, Major Deals, and Recent Developments - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global liquid biopsy market is predicted to reach US$ 9.53 Billion by 2028.
The advantages of liquid biopsy over solid tumor biopsy, rising prevalence of cancer, increasing preference for non-invasive procedures, growing public and private funding to support research activities in the field of liquid biopsy and favorable government initiatives, are some of the factors expected to propel the growth of liquid biopsy market in the coming years.
Some of the key factors inhibiting the growth of liquid biopsy market includes, clinical utility challenges, lack of sensitivity and specificity of liquid biopsy tests and unclear reimbursement & regulation scenario.
Impact of COVID-19
The COVID-19 outbreak has become a global stress test. As the number of people infected with the virus continues to rise around the world, uncertainties about global economic growth increases. The COVID-19 disease has infected around 243 Million people worldwide. Globally the death toll has reached 4,937,666 according to the latest statistics from the Worldometers (as of October 21, 2021). The number is still growing, and the duration of the pandemic is still difficult to predict.
The reactions to the COVID-19 pandemic and its effects on societies and economies around the world cannot be understated. The COVID-19 global pandemic has restricted the growth rate of the liquid biopsy market to some extent during 2020-2021. However, many countries have taken strict measures to combat the coronavirus, such as mass vaccination program, social distancing, use of masks, etc. Hence, we expect that the physicians/surgeons will see an increase in influx of patients, hence driving the liquid biopsy market growth.
Recent Developments
- In July 2021, Biocept, Inc. was awarded a South Korean Patent for its Primer-Switch technology, which detects rare mutations in circulating tumor DNA (ctDNA) using real-time PCR and associated analysis methods.
- In April 2021, Bio-Techne Corporation completed the acquisition of Asuragen, Inc.
- In March 2021, Lucence announced a partnership with Waseda University in Japan to develop a novel high-speed liquid biopsy laser-based imaging platform for early cancer detection.
- In February 2021, Guardant Health, Inc. announced the availability of Guardant Reveal, the first blood-only liquid biopsy test for the detection of residual and recurrent disease from a simple blood draw.
- In August 2020, Freenome announced an oversubscribed US$ 270 million Series C financing, bringing the company's total financing to over US$ 500 million since the company's launch.
- On May 26, 2020, NeoGenomics, Inc. announced that it has formed a strategic collaboration with Inivata to commercialize the InVisionFirst-Lung liquid biopsy test in the United States.
- In November 2019, Lucence Diagnostics Pte Ltd, a genomic medicine company based in Singapore, raised US$ 20 Million in Series A funding.
- In June 2019, Saga Diagnostics, a Lund, Sweden based company raised US$ 4.1 Million in a financing round from Hadean Ventures.
Companies Mentioned
- Personal Genome Diagnostics
- Guardant Health, Inc.
- Pathway Genomics (Now OME CARE)
- RainDance Technologies (Acquired by Bio-Rad Laboratories, Inc.)
- Cardiff Oncology (Previously Trovagene, Inc.)
- LungLife AI (Formerly Cynvenio Biosystems, Inc.)
- Biocept, Inc.
- ANGLE plc
- MDxHealth
- Biolidics Limited (Formerly Clearbridge Biomedics Pte Ltd)
- Exosome Diagnostics, Inc. (Acquired by Bio-Techne Corporation)
- Foundation Medicine, Inc
- Roche Diagnostics (A Subsidiary of F. Hoffmann-La Roche AG)
- Genomic Health (Now Part of Exact Sciences Corp)
- Myriad Genetics, Inc
- Thermo Fisher Scientific, Inc
- QIAGEN NV
- Bio-Rad Laboratories, Inc
- Menarini-Silicon Biosystems
- GRAIL
- NeoGenomics, Inc.
- DiaCarta, Inc.
- OncoCell MDx (Now Immunis.AI)
- C2i Genomics
- Biodesix
- Freenome
- Inivata
- CellMax Life
- Rarecyte Inc.
- Saga Diagnostics
- Thrive Earlier Detection Corp. (Acquired by Exact Sciences Corp.)
- Lucence Diagnostics Pte Ltd
- Karius, Inc.
- Clinical Genomics Technologies Pty Ltd (CG)
- Elypta
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