Global Liquid Biopsy Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
Global Liquid Biopsy Market is expected to reach the market valuation of US$ XX million by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from US$ XX million in 2020. Liquid biopsy is a non-invasive technology that detects molecular biomarkers using liquid sample without the need for costly or invasive procedures. Liquid biopsy aids in planning the required treatment and also check for treatment effectiveness as well as repeated occurrence of tumor during and after the course of cancer treatment.
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Cancer is the second leading cause of death in the US and accounts for nearly one in every four deaths. The incidence rates of cancer remain highest in the more-developed regions; however, the mortality is relatively higher in the less-developed countries due to limited access to treatment facilities and lack of awareness regarding the benefits of early detection. Lung cancer, colorectal cancer, breast cancer, and prostate cancer account for the majority of cancer cases. Lung cancer is the leading cause of death among all cancers. Similarly, breast cancer is the second-most common type of cancer globally and is also the most common cause of cancer-related deaths in women.
Liquid biopsy holds several benefits over traditional cancer diagnostics techniques—reduced cost, early prognosis, therapy monitoring, detection of tumour heterogeneity, acquired drug resistance, and patient comfort (by eliminating the need for surgery). The growing demand for noninvasive and easy sample collection and the faster diagnosis of cancer is driving the growth of the liquid biopsy market. With huge investments and growing evidence of the uses/applications of liquid biopsy, companies are increasingly looking to move into the liquid biopsy market. For instance, In June 2020, NeoGenomics, Inc. announced the launch of three liquid biopsy tests for advanced non-small cell lung cancer, all solid tumor types (pan-cancer), and certain breast cancer cases.
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The liquid biopsy test is conducted to detect cancer at an early stage. The test is performed either on a blood sample to identify cancer cells present in the in-blood stream, or on the DNA extracted from tumor cells. The government for early detection of cancer takes various initiatives. For instance, the National Institutes of Health (NIH) started a new initiative called Precompetitive Collaboration on liquid biopsy for early cancer assessment. The purposes of this initiative are to establish a Public-Private Partnership Program for the development of new or validate existing technologies, methods, and assays for the capture and quantification of tumor-associated cells, RNA, DNA, or exosomes in body fluids of patients with an early-stage disease or those at high risk. This initiative emphasis early cancer detection by distinguishing aggressive and nonaggressive cancers and differentiates benign disease from cancer. For instance: In January 2020, Personal Genome Diagnostics Inc. partnered with Eisai Co., Ltd. to develop a comprehensive liquid biopsy biomarker discovery solution for oncology.
Based on the type, the global Liquid Biopsy market is categorized into Lung, Breast, Colorectal, Prostate. Lung Cancer segment accounted for the largest revenue share in 2020 owning to increase in prevalence of non-small cell lung cancer form across the globe. For instance, as per the world health organization, lung cancer is by far the leading cause of cancer death among both men and women, estimated to have around 1.80 millions death globally in 2020.
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Additionally, the report provides detailed initiatives that are being taken in the field of Liquid Biopsy. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, and the Rest of APAC), Rest of World has been conducted. North America dominated the market with US$ XX million in 2020 of prime importance. The advantages of liquid biopsy over solid tumor biopsy, rising prevalence of cancer, increasing preference for non-invasive procedures, growing public and private funding to support research activities in the field of liquid biopsy and favorable government initiatives, are some of the factors expected to propel the growth of liquid biopsy market in the coming years.
Global Liquid Biopsy Market Segmentation
Market Insight, by Cancer Type
Market Insight, by Circulating Biomarkers
- Circulating Tumor Cells
- Circulating Tumor DNA
- Cell-Free DNA
Market Insight, by Product
- Assay Kits
Market Insight, by End User
- Reference Laboratories
- Hospitals and Physician Laboratories
- Academic and Research Centers
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Roche Diagnostics
- Biocept, Inc.,
- Thermo Fisher Scientific Inc.
- Qiagen N.V.
- Bio-Rad Laboratories, Inc.
- Menarini-Silicon Biosystems
- Illumina, Inc.
- MDXhealth SA
- Genomic Health, Inc.
- Guardant Health Inc