Market Research Report
Liquid Biopsy Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Outlook, Impact of COVID-19, Opportunity Company Analysis
|Liquid Biopsy Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Outlook, Impact of COVID-19, Opportunity Company Analysis|
Published: March 1, 2022
Content info: 170 Pages
Delivery time: 1-2 business days
Global Liquid Biopsy Market will reach US$ 8.1 Billion by 2027. Over the last decades, the vision of precision treatment has dramatically revitalized the field of medical oncology; the introduction of patient-tailored therapies has particularly enhanced all measurable outcomes. Liquid biopsy is a revolutionary technique that opens previously unexpected perspectives. Thus, Liquid biopsy is a non-invasive, convenient, fast, and reproducible sampling method that can reflect the changes in tumor gene manifestation profile and provide a strong base for individualized therapy and early cancer diagnosis. Furthermore, liquid biopsy clinical applications have focused on monitoring tumor progression, screening early cancer assessing therapeutic reaction & clinical prognosis, and detecting recurrent & refractory tumors. In addition, the liquid biopsy market is categorized into Kits & Consumables, Instruments, and Services.
The liquid biopsy industry is experiencing growth due to an increased number of cancer patients, advancements such as next-generation sequencing for cancer patients in liquid biopsies, and improved patient preference for minimally invasive therapies. Besides, an upsurge in healthcare expenditure in developing countries, such as China and India, and liquid biopsy tests to treat rare cancers are anticipated to present ample opportunities for market growth. According to Renub Research Analysis, Global Liquid Biopsy Market will grow with 18% CAGR from 2021 - 2027.
The coronavirus disease has spread globally. Consequently, governments have assessed several rules and lockdowns worldwide, owing to an expansion in the number of coronavirus patients, affecting the market growth in the initial phase of the forecast period. This has resulted in the break of earlier diagnosis programs. Further, there has been a decrease in visits, therapies, screenings, and surgeries related to cancer, resulting in an increase in cancer morbidity in 2020. The pandemic has also affected the logistics and supplies of cancer diagnostic components, raw materials, and other essential commodities utilized in the production of liquid biopsy. These aspects restrict the growth of the liquid biopsy market during the COVID-19.
Geographically, liquid biopsy market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and LAMEA. The European liquid biopsy market is rising due to the high incidence of cancer and increasing medical costs. Consequently, the region is anticipated to multiply concerning the development and use of liquid biopsy techniques. Nowadays, in Europe, research and development on cancer diagnosis focus on liquid biopsy. Market participants and research institutes conduct extensive clinical trials to develop a sensitive liquid biopsy platform.
On the basis of cancer type, the liquid biopsy market is classified into Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, and Others. Lung cancer is anticipated to dominate the liquid biopsy market due to the increased prevalence of non-small cell lung cancer globally. For instance, as per the (WHO) World Health Organization, lung cancer is by far the highest cause of cancer death among female and male, estimated to have around 1.80 Million deaths worldwide in 2020.
Based on Circulating Biomarkers, the liquid biopsy industry includes Circulating Tumor cell (CTCs), Circulating Tumor DNA (ctDNA), Extracellular Vesicles (EVs), Other Biomarkers (cell-free DNA, etc.). In recent years, the circulating tumor cell segment has been increased due to the expanded number of clinically imperative tests with genomic analyses. Additionally, circulating tumor DNA is anticipated to be the fastest-growing segment during the forecast period, owing to the rapid development of (NGS) next-generation sequencing technologies in liquid biopsy advancements applied to circulating tumor DNA (ctDNA).
The global liquid biopsy market is highly fragmented into players like Thermo Fisher Scientific, Inc, Guardant Health, Inc, EXACT Sciences Corp, Illumina Inc., Bio - Rad Laboratories, Biocept, NeoGenomics, Inc., Qiagen NV.
Renub Research report titled "Liquid Biopsy Market Global Forecast by Regions (Europe, North America, Asia-Pacific Latin America, and Middle East/Africa),Cancer (Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer & Others), Product (Kits & Consumables, Instruments and Services), Sample (Plasma/Serum, Urine & Others), Circulating Biomarkers (Circulating Tumor DNA (ctDNA), Circulating Tumor Cells (CTCs) & Exosomes), Clinical Application (Monitoring, Theranostics, Prognosis & Screening), Companies (Thermo Fisher Scientific, Inc, Guardant Health, Inc, EXACT Sciences Corp, Illumina Inc., Bio - Rad Laboratories, Biocept, NeoGenomics, Inc., Qiagen NV)" Provides comprehensive details about Liquid Biopsy Industry.