An exciting new technology called Liquid Biopsy is finally enabling detection of cancer via a mere blood draw instead of requiring surgical or fine needle biopsy! I recently forecast the growth of Liquid Biopsy over the next 5 years at over 100%, in my new report on Personalized Medicine and Companion Diagnostics. (BCC Research – BIO077C)
Most applications currently focus on monitoring for cancer recurrence, but increasingly some help with selecting which therapy to use, and some well-funded efforts are even going directly after early detection of cancer.
I noted the Companion Diagnostics Market is currently around $5 Billion growing over 30%, and contains many dynamics:
Evolving FDA regulatory requirements,
Expanding diagnostic and drug options particularly for cancer,
Growing physician and patient adoption of personalized and precision medicine,
Strong technology innovation for example in next-generation genome sequencing and liquid biopsy.
This year saw the groundbreaking FDA approval of a cancer therapy based on a biomarker test result and not the type of cancer according to the body organ, a first for the agency. And in April, the FDA also finally authorized—for the first time—direct -to-consumer tests that provide information on an individual’s genetic predisposition to certain medical diseases or conditions.
Moving forward, I expect higher growth in immuno-oncology, driving greater growth than expected of tests using immunohistochemistry (IHC) and slightly lower growth of tests using next-generation sequencing (NGS).