LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global liquid biopsy market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Srinivas Sashidhar, a lead research analyst from Technavio, specializing in research on in-vitro diagnostics sector, says, “To treat diseases like lung cancer and breast cancer at an early stage, liquid biopsies are performed, as they help in the detection of cancer. An increasing number of cancer cases will increase the need for liquid biopsy in the market. Skilled lab technicians are required to handle liquid biopsy systems such as polymerase chain reactions and assays.”
The global liquid biopsy market is expected to grow at a staggering CAGR of more than 20% in next few years. A liquid biopsy is a novel technology in the cancer diagnostic market, which has attracted many investors in the market. New entrants and small companies in the market such as GRAIL, Guardant Health, Inivata, and Pathway Genomics have received funding from various investors such as OrbiMed Advisors, Imperial Innovations, and IBM Watson Founders Fund. It helped these companies with multi-center clinical trials, product development, and enabled them to commercialize the products.
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The top three emerging trends driving the global liquid biopsy market according to Technavio research analysts are:
Focus on chip development as novel product
The liquid biopsy market is at its nascent stage. The market opportunity is increasing for medical device companies, pharmaceutical companies, and software companies. A few research universities collaborating with software companies to develop “chips,” a software tool, to increase the efficiency of liquid biopsy tests.
Venture capitals for market entry of start-ups
New players approach venture capitalists to enter niche markets like liquid biopsy. These venture capitalists started realizing the significant potential of start-ups that develop innovative technologies and products in the area of cancer treatment or diagnosis. This has increased the financial support from venture capitalists, which is accelerating the development of liquid biopsy products and is leading to the market entry of start-ups. Post registration and market approvals, venture capitalists take a share from the total revenue generated by the start-ups.
“Venture capitals invest in start-ups through private equity funds, hedge funds, royalty funds, and other investments, which help new entrants to penetrate the market and increase their revenue shares,” says Srinivas.
Direct-to-consumer laboratory testing
Direct-to-consumer testing allows people to receive test kits and send samples to laboratories through mail. Many people aged 60 and above in developed countries such as Australia, the US, the UK, and Germany opt for direct-to-consumer liquid biopsy testing. These products can be selected through online services and can be received at any geographical location. The cost of these products is quite less when compared with traditional genetic testing kits.
The key vendors are as follows:
- Exosome Diagnostics
- Roche Molecular Diagnostics
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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