The global liquid biopsy market is estimated to grow at a CAGR of 24.3% from 2022 to 2027. As a result, the market is predicted to be worth USD 4300.5 million by 2027 from USD 1449.3 Million in 2022. During the forecast period, the North American regional market is forecasted to account for most of the liquid biopsy market share in the global market.
Liquid biopsy is a minimally invasive medical procedure by collecting blood samples to diagnose the cancer cells from a tumor circulating in the blood. A tumor releases various biomolecules into the bloodstream examined via a blood test. The biopsy process is to identify cancer at an early stage. The biopsy surgeries were found to be highly accurate. The procedure requires 5milliliters of blood, making the process very easy and quick. The liquid biopsy procedure is less invasive when compared with the tissue biopsy process. The course can be easily repeated and used often to monitor the patient's health condition. In addition, the procedure is less costly when compared to that tissue biopsy. The Food and Drug Administration (FDA) has approved the liquid biopsy NGS companion diagnostic test for multiple cancers and biomarkers. For instance, in Canada, cancer is the leading cause of death among the population. In addition, it is the second leading cause of heart disease in the U.S. According to the American Cancer Society, Inc., around 1.9 million new cancer cases and 693,000 cancer deaths were recorded in 2018.
MARKET DRIVERS:
Increasing demand for personalized medicine, the growing prevalence of a non-invasive minimal surgical procedure, and the rising number of healthcare centers are propelling the growth of the global liquid biopsy market.
Liquid biopsy enhances the performance of an application with its services. Ongoing research and developments in biotechnology to launch various products, the rise in the incidences of multiple health disorders, and increasing cancer diseases worldwide escalate the market demand. In addition, a growing population is leveraging the growth of the global liquid biopsy market.
Furthermore, increasing demand for early diagnosis of the diseases as there is a permanent cure at the first stage of the diseases, the emergence of the latest technological developments in the medical sector, growing focus on developing innovative kinds of techniques for diagnosing and treating varied diseases are further magnifying the global liquid biopsy market. In addition, the rise in the concern towards health and increasing awareness in doctors to make the best decisions in treating diseases with an appropriate plan to promote the patient's wellbeing is boosting the market demand. Furthermore, liquid biopsy helps ensure effective treatment procedures for physicians, which is expected to favor the market growth in the coming years.
MARKET RESTRAINTS:
The lack of skilled persons handling the systems and the high costs involved with the installation of liquid biopsy devices are majorly hampering the growth rate of the global liquid biopsy market. Furthermore, increasing complications in real-time due to sudden failures of the systems and maintenance of the devices also require heavy financial support, which is a burden for the small-scale industries and is expected to showcase a negative impact on the market growth.
Impact of COVID-19 on the global liquid biopsy market:
The COVID-19 pandemic has affected all aspects of life worldwide and impacted all businesses, including medical healthcare. The pandemic management has darkened the cancer prevention surging delay in diagnosis and focusing on significant survival reduction. Liquid biopsy decreases the risk of COVID-19 disease during the procedures. Patients with cancer are at higher risk for critical events and are associated with low-quality results after COVID-19 infection than singles without cancer. Delays in surgery for incidental cancers significantly affect the long-term survival of patients with cancer. However, the market shares are expected to grow higher in 2021.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 to 2027 |
|
Base Year |
2021 |
|
Forecast Period |
2022 to 2027 |
|
Segments Covered |
By Cancer Type, Diagnostic Approach, Sample Type, End-User, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global liquid biopsy market has been segmented and sub-segmented based on cancer type, diagnostic approach, sample type, end-user, and region.
Liquid Biopsy Market Analysis - By Cancer Type:
Based on cancer type, the lung cancer segment held a significant share of the liquid biopsy market in 2021. The rise in awareness among people over the availability of different treatment procedures for various types of cancer, the growing prevalence of useful diagnostic and treatment procedures, and the increasing geriatric population suffering from lung cancer are majorly propelling the growth of lung cancer segment in the liquid biopsy market.
Liquid Biopsy Market Analysis - By Diagnostic approach:
More than 8-10 CTCs and ctDNA tests are currently commercialized.
CTCs (Circulating Tumour cells), the first such entities on the liquid biopsy scene, have accounted for a significant market share. Cancer institute is the largest end-user segment in revenues and is expected to create substantial opportunities in the global liquid biopsy market over the forecast period.
Liquid Biopsy Market Analysis - By Sample Type:
Based on the sample type, the blood sample type has had the fastest growth rate in the past few years and is anticipated to have a significant growth rate in the coming years. The growing number of diagnostic centers worldwide with the latest equipment is escalating the demand for this market. Also, people's interest in early diagnosis of the disease where there is a permanent cure for the disease when it is treated at first levels shows a positive impact on the market's growth.
Liquid Biopsy Market – By End User:
Based on the End-User, the laboratories segment accounted for the most significant share of the liquid biopsy market in 2021. Focusing on improving the patient's health condition by evaluating quality treatment procedures is one of the notable factors boosting the segment's growth.
Liquid Biopsy Market – By Region:
The North American liquid biopsy market witnessed the largest share of the global market in 2021. Increasing capital income in both developed and developing countries, the rising chronic diseases such as cancer and other diseases, and the growing focus on the launch of new techniques for diagnosis are significantly promoting the liquid biopsy market in the North American market. In 2021, the U.S. market led the North American region and accounted for more than half of the share in this region.
The Asia Pacific liquid biopsy market had the second-largest share of the global market in 2021. The rise in the geriatric population is spurring the market's growth rate. Additionally, increasing support from private and public organizations is gearing up the market. India and China are the major countries in the Asia Pacific, contributing their highest market share.
The Europe liquid biopsy market is expected to grow at a CAGR of 21.45% from 2022 to 2027. The rise in the demand to improve the quality of the treatment is expanding the market shares. In addition, increasing focus on lowering the cost of treatment and diagnostics applications in the medical sector magnifies the market demand. Furthermore, increasing training institutes in the pharmaceutical industry are also showing potential growth rates for the market.
The liquid biopsy market in the Middle East and Africa is anticipated to have a moderate growth rate during the forecast period. The rise in government support by launching reimbursement schemes is surging the demand in the liquid biopsy market.
The Latin American liquid biopsy market is forecasted to grow at a CAGR of 27.6% during the forecast period.
KEY PARTICIPANTS IN THIS MARKET:
Companies leading the global liquid biopsy market profiled in the report are Janssen Diagnostics, Qiagen, Rarecells SAS, Silicon Biosystems, SRI International, Myriad Genetics, Natera, Personal Genome Diagnostics, Sysmex InosticsTrovagene, Exosome Diagnostics, Exosome Sciences, and HansaBiomed OU.
RECENT HAPPENINGS IN THIS MARKET:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Cancer Type
5.1.1 Lung Cancer
5.1.2 Pancreatic Cancer
5.1.3 Leukemia
5.1.4 Other Visceral Cancers
5.2 By Sample Type
5.2.1 Blood
5.2.2 Urine
5.2.3 Plasma
5.2.4 Saliva
5.2.5 Cerebrospinal
5.3 By Diagnostic Approach
5.3.1 Circulating Tumour cells (CTC)
5.3.2 Circulating Tumour DNA (ctDNA test)
5.3.3 RNA in exosomes
5.3.4 Extra-Cellular Vesicles
5.4 By End Users
5.4.1 Reference Laboratories
5.4.2 Hospital/Physician Laboratories
5.4.3 Academic and Research Centers
5.4.4 Other End Users
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Argentina
6.4.5 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Janssen Diagnostics
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Qiagen
8.3 Rarecells SAS
8.4 Silicon Biosystems
8.5 SRI International
8.6 Myriad Genetics
8.7 Natera
8.8 Personal Genome Diagnostics
8.9 Sysmex Inostics
8.10 Trovagene
8.11 Exosome Diagnostics
8.12 HansaBiomed OU
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
FAQ's
As per our research report, the global liquid biopsy market size is estimated to be worth USD 4300 million by 2027.
Yes, we have studied and included the COVID-19 impact on the global liquid biopsy market in this report.
North America led the liquid biopsy market in 2021.
Janssen Diagnostics, Qiagen, Rarecells SAS, Silicon Biosystems, SRI International, Myriad Genetics, Natera, Personal Genome Diagnostics, Sysmex InosticsTrovagene, Exosome Diagnostics, Exosome Sciences, and HansaBiomed OU are some of the promising companies in the global liquid biopsy market.
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