Market Research Report
Fluid Biopsy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Fluid Biopsy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 113 Pages
Delivery time: 2-3 business days
The fluid biopsy market is estimated to register a CAGR of 16.7%, over the forecast period. The key facts stated by WHO estimate cancer is the second leading cause of mortality across the world, with around 18 million new cases reported worldwide in the year 2018. The number of new cases is expected to rise by about 70% in the next two decades. By 2030, the global burden is expected to grow to 21.7 million new cancer cases and 13 million cancer deaths, which can be attributed to the aging of the population.
The future burden is expected to be even larger, because of the adoption of western lifestyles and choices, such as smoking, poor diet, physical inactivity, and fewer childbirths, in economically developing countries. The demand for early detection of cancer is poised to influence the growth of the global market. Liquid biopsy has been in great demand in the diagnosis of solid and other tumors.
Various cancers, such as non-small cell lung carcinoma, head and neck cancer, breast cancer, lymphomas, leukemia, and breast and liver cancer, can be diagnosed early with the help of a liquid biopsy. These are the five most common forms of cancer that affect the global population. Bowel, stomach, and liver cancer have also been common worldwide. The rising incidence of these cancers has, therefore, lead to the growth of the global market.
Breast cancer is the most common cancer among women and is the fifth leading cause of mortality. Incidence rates vary greatly worldwide. It is increasing, particularly in the developing countries, where a majority of the cases are diagnosed at later stages. According to World Health Organization, in 2018, lung and breast cancer together accounted for around 11.6% of incident cases out of total cancer cases.
Early detection and treatment reduce the mortality rate. A biopsy is the only diagnostic procedure that can definitely determine if the suspicious area is cancerous. Breast biopsy test removes tissue or sometimes fluid from the suspicious area, and the removed cells are examined under a microscope and further tested, to check for the presence of breast cancer.
Liquid biopsies are a reliable alternative to conventional biopsies, offering a potentially cheaper, easier, and less invasive way of monitoring malignancies.
Patients can be tested more frequently. This method provides accurate results, as genetic sequencing of free-floating tumor DNA captures the diversity of genetic alterations found in cancer cells, in different parts of the body, including the primary tumor and metastases.
These tests are gaining traction, within the diagnostic industry. The fluid biopsy market is expected to boom and the increasing incidences of breast cancer are one of the driving factors for the growth.
The various liquid biopsy platforms (circulating tumor cells (CTCs), and cell-free DNA (cfDNA), and exosomes) have shown the potential of adding tremendous value toward the care of breast cancer patients. Lung cancer and breast cancer together hold the major share of the fluid biopsy market.
North America is expected to dominate the overall market, throughout the forecast period. In the North America region, the United States holds the largest market share and this is due to the fact that cancer is the second most common cause of death in the United States which has helped the growth of the fluid biopsy market in the country. According to the American Cancer Society, in 2019, approximately 1,762,450 new cases were expected to diagnose of cancer and around 606,860 is expected to die due to it. Hence, early detection and treatment is of utmost importance. Therefore, fluid biopsy market is expected to propel in the North America region.
The Fluid Biopsy market is competitive and consists of a few major players. In terms of market share, these major players currently dominate the market. Some of the major players of the market are Bio-Rad Laboratories, LungLife AI, Inc (Cynvenio), Guardant Health, Horizon Discovery, and Qiagen are among others.