PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224486
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224486
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Liquid Biopsy Market size was valued at USD 4,404.7 Million in 2022, expanding at a CAGR of 20.1% from 2023 to 2030.
Liquid biopsy is a minimally invasive alternative to surgical biopsies that enables medical professionals to learn more about a tumor from a blood sample and customize the therapy accordingly. It can give a solid foundation for customized therapy and reflect changes in the gene expression profile of the tumor. Early diagnostic screening, tumor heterogeneity, and medication resistance are all aided by it. In addition to this, it also finds EGFR gene mutations, which are common in non-small cell lung cancer patients (NSCLC).
Liquid Biopsy Market- Market Dynamics
The number of cancer patients worldwide is growing as a result of sedentary lifestyles and increased cigarette use. One of the primary factors influencing the market is the rising knowledge among people about sophisticated minimally invasive (MI) techniques in cancer diagnoses. Furthermore, to promote the introduction of cutting-edge cancer treatments, the governments of numerous nations are funding research and development (R&D) projects. These institutions also make large investments in the growth of the healthcare sector, which provides key competitors in the market with attractive chances for expansion.
In addition, major market participants are concentrating on product introductions to expand customized medicine globally. To improve the workflow and results of the liquid biopsy method, they are also incorporating technological developments. This is helping to drive the industry along with the increasing use of blood-based biopsy diagnostics for early tumor identification. The need for liquid biopsy is also being fueled by the growing use of exosomes for clinical diagnosis of cancer due to their high accuracy and quick turnaround times. Rapid advancements in digital polymerase chain reaction (PCR) and next-generation sequencing (NGS) technology are expected to drive the market's expansion.
Liquid Biopsy Market- Segmentation Analysis:
Based on the sample, blood sample-based tests are expected to dominate the market during the forecast period. A blood test is non-invasive, risk-free, and painless. Additionally, it decreases the expense and length of the diagnostic process. The detection of CTCs, cfDNAs, exosomes, and microvesicles in the blood sample has increased the use of blood-based liquid biopsy. Moreover, Understanding carcinogenesis and metastasis are largely dependent on the circulating biomarkers in blood, which may also be used to predict tumor dynamics throughout therapy and disease progression. Additionally, the market is anticipated to be driven by increasing research on blood-based cancer testing. For instance, a research team at Exact Sciences and UW-Madison began developing liquid biopsies for cancer in August 2021. One of these liquid biopsies is a blood test that can assist identify genetic abnormalities in tumors that are the focus of medication treatments. This test aids in the early diagnosis of the disease and can identify cancer recurrence following therapy.
Based on the technology, the Multi-gene-parallel Analysis (NGS) segment is expected to hold the largest market share during the forecast period. NGS technology may identify a wide range of mutations that can contribute to carcinogenesis as well as identify potential resistance mechanisms that might have emerged from pre-existing clones following therapy. Recent fast advancements in NGS technology have resulted in a considerable cost decrease for high-accuracy sequencing. This approach enables the screening of unidentified variations and is employed in focused panels for the precise and extremely sensitive identification of ctDNA mutations. For instance, 59% of patients with stage 1 or stage 2 lung cancer may be found using NGS with a MAF of 0.1%.
Liquid Biopsy Market- Geographical Insights
North America is expected to dominate the market during the forecast period. Due to higher investments and the existence of several biotechnology businesses producing the tests, the U.S. dominates the regional market. Liquid biopsy is supported by several organizations, including the American Society of Clinical Oncology (ASCO). In consequence, it is projected that this would accelerate market expansion in this region. Since tests that have received FDA approval may be utilized there, Canada has followed the United States in adopting liquid biopsy procedures. Additionally, the industry is highly competitive, which is anticipated to fuel market expansion throughout the forecast period. The government's increased grants and investments in the development of liquid biopsy tests are anticipated to raise demand in the nation.
Key features of the study:
This proposed research study on the Liquid Biopsy market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for ` the Liquid Biopsy market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain the Liquid Biopsy market
The impact of COVID-19 on the Liquid Biopsy market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Liquid Biopsy market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Liquid Biopsy market, we have also included a competitive landscape and key innovator analysis for the Liquid Biopsy market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Liquid Biopsy market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Liquid Biopsy market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL LIQUID BIOPSY MARKET KEY PLAYERS
F. Hoffmann-La Roche Ltd.
Thermo Fisher Scientific, Inc.
Guardant Health, Inc.
Myriad Genetics, Inc.
Lucence health Inc.
GLOBAL LIQUID BIOPSY MARKET, BY SAMPLE
GLOBAL LIQUID BIOPSY MARKET, BY BIOMARKER
Circulating Nucleic Acids
GLOBAL LIQUID BIOPSY MARKET, BY TECHNOLOGY
Multi-gene-parallel Analysis (NGS)
Single Gene Analysis (PCR Microarrays)
GLOBAL LIQUID BIOPSY MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA