Stratview Research has launched a new market research report on Opportunities & Gaps in the Liquid Biopsy Diagnostic Market. This report studies the global liquid biopsy diagnostic market over the trend period of 2014 to 2018 and forecast period of 2019 to 2025. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Liquid Biopsy Diagnostic Market Insights
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 due to breast cancer across the globe annually.
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, several innovations have happened in CI. Companies now offer staged, multi-pay, and cancer-only plans. A unique selling point of cancer-only and staged CI plans is that 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. 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 market, 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.
The report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, detailed primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. More than 20 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both the qualitative and quantitative insights.
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