In September 2024, SOPHiA GENETICS, a cloud-native healthcare company and a leader in the field of data driven medicines, states that the company has joined the European Liquid Biopsy Society. This prestigious network brings together partners from academia and industry together with a shared goal for making biopsy test a routine standard of care. This is done by joining ELBS, SOPHiA genetics demonstrates its commitment towards advancement made in the field of liquid biopsy and improve patient outcomes.
As the member of ELBS, SOPHiA Genetics is also collaborating with the leading companies to promote the development and adoption of liquid biopsy testing. These non-invasive procedure will help in circulating DNA or other biomarkers in blood and other bodily fluids that are used to diagnose and monitor cancer.
By making liquid biopsy test accessible and affordable for the patients SOPHiA GENETICS and ELBS aims to revolutionize the cancer diagnosis and treatment. SOPHiA GENETICS is an expertise in AI powered data analysis and interpretation that will be considered as a valuable assets to ELBS network. The company’s technology enables the analysis of complex genomic data that provides insights on the informed cancer diagnosis, monitoring, and treatment. By joining these forces with ELBS, SOPHiA genetics is poised to make significant impact on future growth of liquid biopsy.
As per the report published by the Coherent Market Insights, the global liquid biopsy market is projected to reach at a valuation of US$ 3,535.1 million by 2027 end. The growth in the market is being driven by the increasing prevalence of cancer during the forecast period. Rising awareness about the benefits provided by liquid biopsy in comparison to the traditional biopsy including cost saving, convenient disease monitoring, early detection of cancer. There is a notable shift of patients towards the adoption of liquid biopsy across various medical disciplines.
Technological advancement in the field of cancer diagnostics will drive demand in the global liquid biopsy market. Liquid biopsy uses advanced testing methods that will help in the detection of genetic alteration related tumor. It is also used to stratify tumor and aid in providing precise cancer treatment.
“Another factor that fuel liquid biopsy market growth is rising demand for non-invasive and minimally invasive procedures”, says lead Clinical Diagnostic analysts. North America is expected to dominate the global market by 2024. This is owing to rising prevalence of cancer, growing government initiatives, and rapid technological advancements. Additionally, U.S. is poised to lead the North America liquid biopsy market during the forecast period. This is owing to rising investment and presence of ell known biotechnology companies that are developing advanced procedures.
Moreover, the market is also driven by the competition between the biotechnology companies and increasing investment by government bodies in the field of healthcare for the development of more sophisticated tests.
Asia Pacific is also taking centerstage in the global liquid biopsy market during the forecast period. This is owing to improvement of healthcare reforms and increasing population. Another factor that leads to market growth are entry of new players and improving healthcare infrastructure.
