Americas Tops the Global Lung Cancer Liquid Biopsy Market | Technavio

The latest market research report by Technavio on the global lung cancer liquid biopsy market predicts a CAGR of more than 17% during the period 2017-2021.

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Technavio has published a new market research report on the global lung cancer liquid biopsy market from 2017-2021. (Graphic: Business Wire)

The report segments the global lung cancer liquid biopsy market by product (circulating tumor cells and circulating tumor DNA and exosomes and ribonucleic acid), by end-user (clinical diagnostic laboratories, hospitals and clinics, and physicians' office laboratories), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global lung cancer liquid biopsy market, according to Technavio healthcare and life sciences researchers:

• Rising incidence of lung cancer: a major market driver
• In 2016, circulating tumor cells and circulating tumor DNA segment occupied around 90% of the market share
• The Americas dominated the global lung cancer liquid biopsy market, accounting for a share of around 57% in 2016
• Biocept, Exosome Diagnostics, F. Hoffmann-La Roche, and QIAGEN are some of the key players in the market

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Rising incidence of lung cancer: a major market driver

Rising incidence of lung cancer is one of the major factors driving the global lung cancer liquid biopsy market. Lung cancer is regarded as one of the highest causes of cancer deaths across the globe. The two types of lung cancers that grow and spread differently are small-cell lung carcinoma (SCLC) and non-small cell lung cancer (NSCLC). The major risk factors for the increased lung cancer are tobacco smoking and factors such as asbestosis, air pollution, passive smoking, and abnormalities observed in genes such as changes in gene base pairing. Tobacco smoking is the leading cause of lung cancer. It was estimated that four out of five lung cancer people were affected due to smoking. Apart from this, the other risk factors that lead to lung cancer are radon and asbestos.

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Americas: largest lung cancer liquid biopsy market

The US was the highest contributor to the lung cancer liquid biopsy market in the Americas because of the rising rate of lung cancers. According to the Centers for Disease Control and Prevention in 2014, in the US, the number of people affected by lung cancer was estimated to be around 113,326 in men and 102,625 in women. Government initiatives such as National Comprehensive Cancer Control Program (NCCCP) help to increase awareness about lung cancer screening programs, including smoking cessation, for persons at high risk of lung cancer. Such factors increase the adoption of lung cancer liquid biopsy.

According to Anushree Dhar, a lead analyst at Technavio for research on in-vitro diagnostics, “The vendors in the market are focused on providing advanced technologies to assist in the improvement of success rate and reduce complications in the detection of lung cancer through liquid biopsy. However, they are required to develop cost-effective products that are clinically effective. Hence, they make significant investments in R&D. Apart from this, the manufacturers are also establishing direct sales subsidiaries and distribution through global distributors to expand their business across the globe.”

Competitive vendor landscape

The global lung cancer liquid biopsy market is characterized by the presence of Tier-1 and Tier-2 manufacturers such as Biocept, Exosome Diagnostics, F. Hoffmann-La Roche, and QIAGEN. These companies are concentrating on R&D through clinical trials to innovate new products for the treatment of lung cancer. New market entrants such as Grail, Freenome, and HeliTec are developing novel liquid biopsy products for the identification of lung cancer.

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View source version on businesswire.com: http://www.businesswire.com/news/home/20171210005051/en/