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Liquid Biopsy, North America, and Lung Cancer Occupying a Major Share in the Market

 

Minimally Invasive Biopsy Technologies Market

Owing to the market availability of large number of liquid biopsy technologies, the liquid biopsy segment currently accounts for a dominating share in the global minimally invasive biopsy technologies market. However, the market growth in the segment can be attributed to the increasing demand for liquid biopsy and the strong product pipeline. For instance, CNI Second Opinion by Chronix Biomedical is presently under development and is expected to get launched during the forecast period 2019-2030.

Owing to a widespread market presence of leading players and the huge prevalence of cancer, North America presently holds a major share in the global minimally invasive biopsy technologies market. According to the World Cancer Research Fund (WCRF), with an estimated 2 million cases in 2018, lung cancer is the most commonly occurring cancer in men and third-most commonly occurring cancer in women. Due to the widespread presence of cancer, the manufacturers including Biocept, Inc., Chronix Biomedical, Datar Cancer Genetics Limited, Owlstone Medical, Veracyte, Inc., LungLife AI, Inc., and Exosome Diagnostics, among others. are providing diversified range of product offerings for its effective management. Hence, the segment holds a dominating share in global minimally invasive biopsy technologies market.

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Europe is expected to witness maximum growth at a CAGR of 15.40%, during the forecast period 2019-2030. The growth in the region can be attributed to the rising number of funding and investments for research on minimally invasive biopsy technologies and also to the increasing cancer burden. For instance, the European Union’s research and innovation programme, Horizon 2020, awarded $6.94 million to a joint consortium on liquid biopsy and Magnetic Resonance Imaging. The initiative aims at analyzing the effects of liquid biopsy and MRI in the diagnosis of breast and colon cancer.

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