The global liquid biopsy market reached a value of US$ 1.49 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3.7 Billion by 2027 exhibiting a CAGR of 15.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Liquid biopsy is a non-invasive alternative to surgical biopsies enabling doctors to obtain information about a tumor through a blood sample and plan the treatment accordingly. It can reflect changes in tumor gene expression profile and offer a robust base for individualized therapy. It assists in the early diagnosis screening, tumor heterogeneity and drug resistance. Besides this, it also detects epidermal growth factor receptor (EGFR) gene mutations, which occur among patients with non-small cell lung cancer (NSCLC).
Liquid Biopsy Market Trends:
- Due to sedentary lifestyles and rising tobacco consumption, there is a surge in the number of cancer patients across the globe. This, along with the growing awareness among individuals about advanced minimally invasive (MI) procedures in cancer diagnostics, represents one of the key factors driving the market. Moreover, governing authorities of several countries are financing research and development (R&D) activities to encourage the introduction of advanced cancer solutions. These authorities are also considerable investing in the development of the healthcare industry, which is offering lucrative growth opportunities to industry players. Apart from this, key market players are focusing on product launches to develop personalized medicine worldwide. They are also integrating technological advancements in liquid biopsy to offer better procedure workflow and output. This, coupled with the rising adoption of blood-based biopsy tests for early tumor detection, is positively influencing the market. Additionally, the increasing usage of exosomes for clinical diagnosis in oncology to provide high accuracy and reduced procedural time is catalyzing the demand for liquid biopsy. Growth-inducing factors projected to impel the market growth are rapid development in digital polymerase chain reaction (PCR) and next-generation sequencing (NGS) based technology.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global liquid biopsy market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product and service, circulating biomarker, cancer type and end user.
Breakup by Product and Service:
- Kits and Reagents
- Platforms and Instruments
Breakup by Circulating Biomarker:
- Circulating Tumor Cells
- Extracellular Vesicles
- Circulating Tumor DNA
Breakup by Cancer Type:
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Liver Cancer
Breakup by End User:
- Hospitals and Laboratories
- Academic and Research Centers
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ANGLE plc, Biocept Inc., Bio-Rad Laboratories Inc, Epigenomics AG, Exact Sciences Corporation, F. Hoffmann-La Roche AG, Guardant Health Inc., Illumina Inc., MDxHealth SA, Menarini Silicon Biosystems, QIAGEN N.V. and Thermo Fisher Scientific Inc. Key Questions Answered in This Report:
- How has the global liquid biopsy market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global liquid biopsy market?
- What are the key regional markets?
- What is the breakup of the market based on the product and service?
- What is the breakup of the market based on the circulating biomarker?
- What is the breakup of the market based on the cancer type?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global liquid biopsy market and who are the key players?
- What is the degree of competition in the industry?