The global liquid biopsy market has witnessed a flurry of activity in the recent years, resulting in steady growth, at an impressive rate. This can be attributed to the increased patient preference for non-invasive tests and procedures, which has had a positive impact on the growth of liquid biopsy market. The study by Future Market Insights on the prospective expansion of the market estimates based on this, that the liquid biopsy market is likely to grow at approximately 21% globally, during the course of the forecast period.
There is a rising incidence and subsequently the awareness of the increasing prevalence of cancer globally. The testing of these cancers employs the use of liquid biopsy methods, to which the growth and expansion of the global market can be attributed.
Reducing the Global Burden of Cancer Testing
The rising incidence of cancers and the subsequent use of biopsies for testing has manufacturers focusing on reducing the global economic burden of cancer testing. This has also caused an increase of funding for the development of less invasive biopsy procedures that improve patient outcomes and reduce recovery time, which has had a direct positive impact on the growth of the global liquid biopsy market.
Traditional Biopsies versus Liquid Biopsies
Traditional tissue biopsies, which show the molecular composition of tumour when the sample is taken, can be limited in their results, as the heterogeneity is left undetected. The advantages offered by a liquid biopsy include not just a full view of the probable malignancy’s properties of the tumour, but also metastases and biochemical changes acquired during blood-borne dissemination at a lower cost consuming less time.
Unlike a traditional surgical biopsy, liquid biopsies are also minimally invasive procedures that offer the distinct advantage to patients of reduced recovery time, among other benefits. These factors have had significant impact on the evolution and growth of the liquid biopsy market, as it continues to get popular globally, especially in developed countries where penetration is the highest.
Manufacturers in the global liquid biopsy market are increasingly looking to improve patient outcomes by focusing research and development to improve the efficacy and the accuracy. However, due to the slowdown from the financial crisis and the severe cut in the operational funds across the market, the pace of innovation in the landscape has also slowed down.
Regional Markets within the Global Scenario
The global market for liquid biopsy is being propelled by rapid healthcare advancements and a shift towards value-based healthcare, which has spelled lucrative growth for manufacturers in the landscape. As the scenario currently stands, markets in developed regions have the most significant shares in the market, in a trend that is expected to continue to the end of the forecast period. This can be attributed to the rapid penetration into the landscape as they reap the first-mover advantage by being technologically advanced. However, the preference of conventional biopsies over liquid biopsy is expected to hamper the growth of the market in the developing regions
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