Market Definition
Liquid Biopsy is a laboratory test done on a sample of blood, urine, or other body fluids to look for remnants of cancer cells, from tumor to slightest strain, like DNA, RNA, or other molecules released by tumorous cancer cells into the body’s fluids. It can be applied to screen early cancer, track cancer/tumor progression, assess clinical prognosis, detect recurrent tumor cells, and more. It has gained attention and is appreciated as a non-invasive technique as it is less bodily taxing than tissue biopsy due to technological advances.
Market Insights
The Global Liquid Biopsy Market is projected to grow at a CAGR of around 26% during the forecast period, i.e., 2023-28. The market is significantly driven by the rising cases and prevalence of cancer, along with the increasing awareness and preference for non-invasive treatment procedures. Furthermore, the understanding and appreciation are guided by the several benefits associated with the new liquid biopsy technique, including rapid results, low cost, early prognosis, overcoming tumor heterogeneity, low risk, and non-invasiveness.
In addition, Liquid biopsy is less mentally taxing for the patient than other methods, such as tissue biopsy, resulting in further demand in the market and is expected to significantly drive the need for the market during the forecasting years.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 26% |
| Regions Covered | North America: The US, Canada, Mexico |
| Europe: United Kingdom, Germany, France, Spain, Italy, and Others | |
| Asia-Pacific: China, India, Japan, South Korea, South East Asia | |
| South America: Brazil, and Others | |
| Middle East & Africa: Saudi Arabia, UAE, South Africa | |
| Key Companies Profiled | Bio-Rad Laboratories, Biocept Inc, Abcodia Ltd, Chronix Biomedical, Epic Sciences Inc, Hoffmann-La Roche AG, Cynvenio Biosystems, Inc., GUARDANT HEALTH, INC, Illumina, Inc., NeoGenomics Laboratories, Inc., Menarini Silicon Biosystems, Inc., Qiagen N.V., Thermo Fisher Scientific, Personal Genome Diagnostics, Inc., Qiagen N.V. etc. |
| Unit Denominations | USD Million/Billion |
Consecutively, the rising preference for market growth is boosted by cancer awareness initiatives as it can monitor tumor progression early, along with eliminating the discomfort associated with the operation. In addition, with the emergence of advanced technologies, the demand for non-invasive diagnosis and treatment is rising. As it offers a non-risk effective alternative to patients, it is expected to spur the need for liquid biopsy in the forecasting period.
Furthermore, due to the inaccessibility of direct laboratories with infrastructures to undertake the liquid biopsy tests of patients in need, the fluid biopsy industry depends on the distance collection of samples by transporting the diagnostic kits to the patient. Therefore, this rising demand for the equipment would also further accelerate the market in the future.
Moreover, developing interest, research, and competition among significant laboratories, clinical industries, and research companies with dedicated investments from private and public organizations to fund the research for better cancer treatments. With the integration of advanced technology into the treatment process, further Market expansion could be expected.
Key Trends in the market
The government in various countries and global health organizations have undertaken several initiatives and started several schemes to spread awareness about cancer and its treatment. For Instance,
On 4 February 2022, the World Health Organization's (WHO) International Agency for Research of Cancer (IARC) launched the World Code Against Cancer Framework. This online platform will promote prevention globally and develop Regional Codes to help fight the disease.
Likewise, the National Breast and Cervical Cancer Early Detection Program (NBCCEDP) provides breast cancer screening diagnosis for uninsured and low-income patients in the US every year, initiated by the US Centers for Diseases and Prevention (CDC) in 1991.
Market Segmentation
Based on Sample Type,
Here, the Blood sample is estimated to dominate the market in the forecasting years. A blood test is relatively simple, especially for the patient, as it is non-invasive, has no risks, and is painless. Also, because it reduces the cost and time taken for the diagnosis, patients and doctors prefer blood samples. In addition, CTCs, ctDNAs, exosomes, and microvesicles can be detected along with other biomarkers by blood-based liquid biopsy. These biomarkers can help determine tumor dynamics and assist in treatment. Additionally, more ongoing research on blood sample tests for cancer is expected to accelerate the market forward.
Based on Circulating Biomarkers,
Amongst the above, Circulating Tumor Cells are expected to witness predominant growth during the forecast years. Circulating Tumor Cells (CTCs) are the cells shed by the cancer tumor, which then spread through the bloodstream. As liquid biopsy is considered the most reliable method to recognize circulating tumor cells, it has resulted in them gaining rapid traction in the industry. In addition, circulating Tumor cells facilitate cancer prognosis, guide cancer therapeutics, and monitor therapeutic regimens.
Furthermore, the advancements in technology and science, which aim to better detect CTCs from different bodily fluids, have facilitated the early detection of various kinds of cancer through minimally invasive techniques, including Liquid Biopsy, thus pushing the market forward.
Regional Projection
Geographically, the Global Liquid Biopsy Market expands across:
Of them all, North America is anticipated to attain a significant market share during the forecasting period. It owes principally to the high adoption of advanced technologies like NGS's presence of well-established pharmaceutical companies, research centers, and biotechnology companies developing tests, funding, and investments from public and private organizations. Many organizations, such as the American Society of Clinical Oncology (ASCO), aid in the implementation of liquid biopsy. Additionally, the ongoing competition between biotechnological companies is expected to boost the market.
Along with it, a growing number of cancer diagnoses and the government's activeness towards the cause would further accelerate the growth of the market along with the presence of numerous national clinical laboratories and easy access to the technologically advanced instrument.
On the other hand, Asia Pacific is estimated to experience fast-growing market growth during the forecasting period with the increasing healthcare infrastructure and development of the region as a destination for healthcare tourism, given less stringent restrictions. Characterized by the booming economy, rising awareness, rising adoption of advanced techniques, and awareness programs, along with the rise in disposable income, the Asia-Pacific region is set to receive attention in the industry. In addition, the continuous adaptation of hospitals and diagnostic centers across states would further drive the industry.
Recent Developments in the Global Liquid Biopsy Market
Market Dynamics
Key Driver: Global Surge in Cancer Cases
The number of cancer cases has surged significantly on a global scale. Environmental factors are the leading causes of cancer. The rise in cancer diagnosis has led various countries and international health organizations to undertake various initiatives to spread awareness about cancer. With this increase, Liquid biopsy is preferred for its multiple advantages, counting low-cost, early prognosis, tumor heterogeneity identification, drug resistance, therapeutic drug monitoring, and the most ascendant, patient comfort by eliminating the need for surgery. Consecutively, this increase in preference for Liquid Biopsies is expected to increase the Market during the forecasting period.
Possible Restraint: Compatibility of Liquid Biopsies with Specific Kinds and Stages of Cancer
Detecting ctDNA through Liquid Biopsy becomes technically tricky as the quantities of ctDNA may be lower in the plasma of a cancer patient for particular cancer mutations, especially after the treatment and surgery. It is also not applicable to all cancers, as certain tumors do not shed a recognizable amount of ctDNA. Also, there may be fewer than one detectable copy of the cancer mutation containing ctDNA in a patient’s sample, resulting in ctDNA not being identified, even though ctDNA is deficient. As a result, the credibility is lessened, as it might give a false negative where ctDNA is not identifiable. This discrepancy could negatively hinder the market.
Growth Opportunities: Developing Countries' Apprehension of Cancer
Developing economies such as India, South Korea, Russia, etc., are working towards a better system and treatment of cancer to cater to the high number of diagnoses with growth in urbanization, technological advancements, and awareness. Furthermore, potential growth opportunities for the industry exist due to higher cancer prevalence, booming population, steps towards building and improving the health care infrastructure, rising disposable income, and growing medical tourism within such countries. On top of that, due to proportionately less stringent regulations and data requirements, the Asia Pacific region is emerging as an adaptive and business-friendly hub, which could further help the market.
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Frequently Asked Questions
A. The Liquid Biopsy Market is projected to grow at a CAGR of around 26% during 2023-28.
A. The surge in cancer cases is expected to drive the Liquid Biopsy Market during 2023-28.
A. Bio-Rad Laboratories, Biocept Inc, Abcodia Ltd, Chronix Biomedical, Epic Sciences Inc, Hoffmann-La Roche AG, Cynvenio Biosystems, Inc., GUARDANT HEALTH, INC, Illumina, Inc., NeoGenomics Laboratories, Inc., Menarini Silicon Biosystems, Inc. Qiagen N.V., Thermo Fisher Scientific and Personal Genome Diagnostics, Inc. are the top players in the Liquid Biopsy Market.
A. Blood Sample is anticipated to emerge as an area of remunerative opportunities for the leading players in the Liquid Biopsy Market during the forecast period.
A. Globally, North America would provide lucrative prospects for the Liquid Biopsy Market in the years ahead.
A. Health Organizations' initiatives toward Cancer Awareness are the key trend shaping the growth of the Liquid Biopsy Market during 2023-28.
A. Developing countries' apprehension of Cancer is the growth opportunity driving the Liquid Biopsy Market through 2028.
A. Compatibility of liquid biopsies with specific kinds and stages of cancer is the possible restraint affecting the growth of the Liquid Biopsy Market during 2023-28
