Global Liquid Biopsy Market (by Product & Services, Circulating Biomarker, End-User, Application & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)
- Published: 28th Oct 2023
- Pages: 155
- Format : Pdf
Market Insight:
A liquid biopsy includes evaluating a blood sample to check whether there are any cancer cells from a tumor circulating in it or if there are any DNA fragments from tumor cells. A liquid biopsy might help in the early diagnosis of cancer.
The increased prevalence of cancer and the growing preference for quick, less invasive diagnostic tests have lately fueled the liquid biopsy. The liquid biopsy test detects cancer cells in the bloodstream by using either DNA obtained from tumor cells or a blood sample. The government takes many initiatives to encourage early cancer detection. The global liquid biopsy market is likely to reach US$1.86 billion in 2023, growing at a CAGR of 20.56%, during the forecasted period.
Segment Covered:
- By Product & Services: On the basis of the products & services, the report provides the bifurcation of the global liquid biopsy market into three segments: kits & reagents, platforms & instruments and services. The kits & reagents segment occupied the largest share, owing to the availability of a wide range of reagents and kits, easy access to a wide range of assays, and the rising prevalence of cancer.
- By Circulating Biomarker: In terms of circulating biomarker, the report identifies four segments of the global liquid biopsy market: Circulating Tumor Cell, CT-DNA, Extracellular Vesicles, and Others. The CT-DNA is the fastest growing segment during the forecast period, owing to rapid development of next-generation sequencing (NGS) technologies in liquid biopsy advancements applied to circulating tumor DNA (ct DNA).
- By End User: The report offers a glimpse of the market based on end users, namely: Hospitals & Laboratories, and Government & Academic Research Centers. The hospital & laboratory segment dominated the liquid biopsy market attributed to wider usage of liquid biopsy tests across hospitals and laboratory settings which are the preferable healthcare facilities for patients.
- By Application: The market has further been assessed into two segments, according to the application: cancer, and non-cancer segments. The liquid biopsy market was driven by the cancer segment, attributable to the growing use of liquid biopsy techniques for the diagnosis of different cancer types. The market for cancer liquid biopsy has been further segmented based on the cancer type: lung cancer, colorectal cancer, prostate cancer, liver cancer, breast cancer, and others. The market for cancer liquid biopsy was dominated by the lung cancer segment in owing to this type of liquid biopsy has developed into a potential tool for early detection of lung cancer and disease monitoring to help further with management decisions in selected patients.
Geographic Coverage:
According to this report, the global liquid biopsy market can be divided into four major regions: North America, Europe, Asia Pacific, and Rest of the world. The countries covered in North America region are the US, Canada, and Mexico, while Europe includes Germany, France, UK, and Rest of Europe. Moreover, Japan, China, India, South Korea, and Rest of the Asia Pacific are included in the Asia Pacific region.
Due to the rising use of liquid biopsy for cancer detection in the North American region, this region has led the liquid biopsy market. The US currently dominates the worldwide liquid biopsy market because of the fast-rising number of cancer cases. The American Cancer Society estimates that there will be 1.92 million new cases of cancer in the US in 2022. Furthermore, Europe is expected to have the fastest growth rate during the forecasted period, on account of the numerous start-ups and prospective businesses that are joining the market. Germany dominated the European liquid biopsy market because of an increase in cancer cases and the existence of significant market participants there.
Top Impacting Factors:
Growth Drivers
- Rising Healthcare Expenditure
- Surging Incidence of Cancer Cases
- Growth In Demand For Precision Medicines
- Myriad of Applications
Challenges
- Need For More Clinical Trials
- Standardized Pre-analytical Protocol And Assay Development And Regulatory Concerns
Trends
- Involvement of Artificial Intelligence
- Integration of Photonic Technology
- New In Vitro Fertilization Technique For Embryos Testing
Driver: Surging Incidence of Cancer Cases
For solid tumor malignancies, liquid biopsies are minimally invasive procedures that need a small sample of blood or urine and can identify cancer cells or genetic material that primary tumors release into these bodily fluids. Early cancer detection has the potential to lower the mortality rate from the disease. Additionally, liquid biopsies have the potential to address important issues related to diagnosis, prognosis, and therapeutics; monitoring the spread of cancer to other body parts; identifying the genetic changes or mutations present in a tumor; figuring out which treatments might be most effective for particular patients; and assessing whether treatments are having an effect. In addition to this liquid biopsy is very useful in research to identify cure for the such diseases. Hence, the surging cancer prevalence has been helping in fueling the market for liquid biopsy in the upcoming years.
- Challenge: Need For More Clinical Trials
Since liquid biopsy is a relatively new research area, it has not yet profited nearly as much from research and clinical trials as tissue biopsy has. While most people acknowledge the therapeutic usefulness of liquid biopsy, it will still require several years of clinical data before liquid biopsy becomes widely recognized. Tissue biopsy is a dependable approach that, despite its flaws, has been tried and proven for decades. To instill confidence among patients and clinicians, more studies with larger patient samples are required. Therefore, the need for more clinical trials acts as a challenge for the market, in recent times.
- Trend: Involvement of Artificial Intelligence
Artificial intelligence is a simulation of human intelligence processes by machines, particularly computer systems. The supervised learning, unsupervised learning, and reinforcement learning ML algorithms make up the virtual component of AI. In order to help with disease diagnosis, prognosis, and clinical decision-making, machine learning algorithms have been extensively used to liquid biopsy data in recent years. These methods are being used by an increasing number of studies to identify patterns in many circulating biomarkers for a variety of conditions, such as diabetes, cancer, tuberculosis, dengue fever, heart disease, liver disease, and a number of other conditions. These research use a range of machine learning techniques that, in many cases, outperform the sensitivity and specificity of individual markers, such as support vector machines, decision trees, and random forests. Therefore, involvement of artificial intelligence in liquid biopsy is likely to upgrow the overall market, in coming years.
The COVID-19 Analysis:
Governments around the world have implemented a variety of regulations and lockdowns as a result of the rise in COVID-19 cases, which has had an impact on the market growth early in the projected year. Early detection programs have been put on hold as a result. An increase in cancer mortality and morbidity is estimated in 2020 because of a decline in cancer screenings, visits, therapies, and operations, with differences by cancer type and service location internationally. The pandemic has also affected the logistics and supply of raw materials and components for cancer diagnostic tests as well as other crucial supplies needed to produce liquid biopsy. However, the market is likely to regain its demand owing to the assistance it provides in determining the line of treatment for cancer patients.
Analysis of Key Players:
Due to the existence of numerous manufacturing firms in the country, the global liquid biopsy market is highly fragmented. By investing in R&D, incorporating cutting-edge technology into their products, and providing improved products for customers, market leaders maintain their dominance. There are other strategies used, such as strategic alliances, agreements, mergers, and partnerships. Further, key players in the liquid biopsy market are:
- Qiagen N.V.
- Thermo Fisher Scientific Inc.
- Bio-rad Laboratories, Inc.
- Roche Holdings AG
- Guardant Health
- Angle PLC
- Johnson & Johnson Ltd.
- Illumina Inc.
- Myriad Genetics, Inc.
- Biocept Inc.
- Bio-Techne Corporation
- Mesa Laboratories Inc.
- MDxHealth SA
By diversifying their cancer diagnostics offerings, market participants are fostering market expansion and boosting demand for their proprietary liquid biopsy solutions. Companies are rapidly adjusting to changing market dynamics and concentrating primarily on new product introductions in order to meet the rising demand for liquid biopsy services, to boost sales, and to gain an advantage over competitors.
Leading market companies employ a variety of growth methods to gain a strong foothold in the liquid biopsy market, including strategic partnerships, collaborations, and product developments. For example: In June 2021, Biocept Inc., collaborated with Quest Diagnostics, a New Jersey-based clinical laboratory, to offer laboratory services to Quest patients for its Target Selector NGS-based liquid biopsy lung cancer panel. In February 2021, Menarini Silicon Biosystems, a developer of liquid biopsy and single-cell technologies, launched its innovative CellMag product line for staining and detection of rare circulating tumor cells (CTCs). In April 2021, Bio-Techne Company completed the acquisition of Asuragen, Inc.
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