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. The increase in number of cases of lung cancer drive the growth of lung cancer liquid biopsy market.
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 lung cancer liquid biopsy market.
Top Impacting Factors
- Increase in cases of lung cancer, rise in demand for minimally invasive procedure & advanced cancer treatment and procedures are factors that drive the growth of the lung cancer liquid biopsy market.
- In addition, availability of skilled professionals; rise in R&D activities to develop and launch novel therapies in the market; and technological advancements in the field of oncology, are some factors, which boost the market growth of the lung cancer liquid biopsy.
- However, lack of awareness of liquid biopsy in developing regions hinders the market growth.
- Contrarily, increase in healthcare expenditure and rising use of liquid biopsy tests to treat lung cancers will present new pathways in the industry.
Lung Cancer Liquid Biopsy Market Trends
New product launches to flourish the market
In June 2020, NeoGenomics, Inc. declared the launch of liquid biopsy tests for advanced non-small cell lung cancer cases.
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 August 2020, Guardant Health declared that their test called Guardant360 CDx was the “first liquid biopsy companion diagnostic (CDx). It uses next-generation sequencing (NGS) technology to identify patients with specific types of mutations of the epidermal growth factor receptor (EGFR) gene in a deadly form of metastatic non-small cell lung cancer (NSCLC).”
Key Benefits of the Report
- This study presents the analytical depiction of the lung cancer liquid biopsy industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the lung cancer liquid biopsy market share.
- The current market is quantitatively analyzed to highlight the lung cancer liquid biopsy market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed lung cancer liquid biopsy market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the lung cancer liquid biopsy Report
- Which are the leading players active in the lung cancer liquid biopsy market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "Lung cancer liquid biopsy"?
- What is “Lung cancer liquid biopsy" Market prediction in the future?
- Who are the leading global players in the "a Lung cancer liquid biopsy" Market?
- What are the current trends and predicted trends?
- What are the key benefits of the “Lung cancer liquid biopsy" Market report?
Lung Cancer Liquid Biopsy Market Report Highlights
By Biomarker Type
By End User
Key Market Players
F. Hoffmann-La Roche, Agena Bioscience, CLEARBRIDGE BIOMEDICS, Circulogene, Bio-Rad Laboratories, CellMax Life, BARD1, Biocept, Cancer Genetics, Biodesix, Exosome Diagnostics, QIAGEN, Cynvenio Biosystems, AccuraGen