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Colorectal cancer also identified as bowel cancer, rectal cancer, or colon cancer, is any cancer that affects the colon and rectum. Liquid biopsy is a non-invasive alternative to surgical biopsies for the detection of molecular biomarkers. It is carried out to detect cancer at an initial stage. It is also utilized to plan a line of treatment for cancer, find the efficacy of a line of treatment, and detect the recurrence of cancer. Liquid biopsies also help increase capabilities to understand metastatic disease development. A liquid biopsy permits doctors to analyze multiple blood samples over some time, which assists to know the molecular modifications taking place in a tumor.
COVID-19 Impact analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome corona virus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
At the early phase of COVID-19 pandemic, there was no availability of specific diagnostic tests to detect the disease in patients. Alternative diagnostic tests were used initially but were not much effective. This unavailability of specific COVID-19 diagnostic tests presented lucrative opportunities for diagnostic manufacturers to introduce their COVID-19 diagnostic kits. Many leading players as well as some start-ups from various countries utilized this opportunity and introduced COVID-19 diagnostics kits into local as well as global market. These players achieved edge over other diagnostics players capitalizing the opportunity from demand for COVID-19 diagnostic tests, which, in turn, helps them in maintaining their revenues in such a crisis.
Owing to such factors, COVID 19 is expected to have a significant impact on the colorectal cancer liquid biopsy market.
Top Impacting Factors
Colorectal Cancer Liquid Biopsy Market Trends
New product launches to flourish the market
In June 2020, Guardant Health presented new data demonstrating that its LUNAR-2 liquid biopsy is a highly sensitive test that can detect early-stage colorectal cancer.
In July 2020, NeoLAB Solid Tumor Liquid Biopsy is designed to test various cancers, including colorectal cancer. The assay is a highly sensitive, specific next-generation sequencing test for genomic profiling.
In October 2020, the FDA approved FoundationOne CDx as a companion diagnostic to detect NTRK fusions in solid tumors like colon and rectal cancer, and identify those who will benefit from the drug VITRAKVI. It can also determine Microsatellite Instability (MSI-H) status, and Tumor Mutational Burden (TMB).
Key Benefits of the Report
Questions answered in the colorectal cancer liquid biopsy Report
Key Market Segments
Key Market Players