Liquid Biopsy Market

Global Liquid Biopsy Market Size (2022 to 2027)

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 and is 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 global liquid biopsy market growth.

Liquid biopsy enhances the performance of an application with its services. Ongoing research and developments in biotechnology to launch various products, the rise in 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 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, and 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 well-being 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.

YOY's rise in cancer cases and government support further accelerated the growth rate of the liquid biopsy market.

The need for cancer therapy and the rising incidence of cancer patients globally will fuel market expansion. According to WHO data, more than 10 million people will die from cancer worldwide in 2020; every year, almost 400,000 youngsters are diagnosed with the disease. As a result, the market will expand due to the need for individualized therapy and an increase in cancer-related deaths. In addition, the market will also be boosted by government investment, growth in research and development, and acceptance of the treatment strategy in western regions. Therefore, the rising cancer cases are encouraging the use of liquid biopsy procedures acting as a driver.

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. In addition, the increased range of equipment and facilities required to facilitate the laboratories for liquid biopsy is hindering the 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 market growth.

Impact of COVID-19 on the global liquid biopsy market:

The pandemic situation has led to a state of panic worldwide. The spread of the deadly disease resulted in the loss of uncountable lives, unemployment, the shutdown of businesses, economic recession worldwide, and not to mention a mental health crisis. The healthcare department was one of the severely affected segments due to the rapid influx of patients and the lack of shared resources to provide facilities, along with the shifting of all the attention of all healthcare divisions towards covid, leading to the cancellation of elective surgeries and postponement of many diagnosis and treatment procedures. The government has implemented several policies to help the people through the tough times, but the pandemic was highly demoralizing. 

Therefore the COVID-19 pandemic has affected all aspects of life worldwide and impacted all businesses, including medical healthcare. The pandemic management has darkened cancer prevention, surging delays 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 liquid biopsy market is anticipated to recover very soon and perform well during the forecast period.

REPORT COVERAGE:

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:

• Lung Cancer

• Pancreatic Cancer

• Leukemia

• Visceral Cancers

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 proper diagnostic and treatment procedures, and the increasing geriatric population suffering from lung cancer are majorly propelling the growth of the lung cancer segment in the liquid biopsy market.

The market is also expected to be dominated by the colorectal cancer segment in recent times due to the sudden surge in the number of cases of the problem. Fifty-one thousand eight hundred sixty-nine people died of colorectal cancer in 2020. The numbers are expected to go higher during the forecast period leading to more revenue for the segment. Therefore, the segment will incur good revenue along with lung cancer. 

Liquid Biopsy Market Analysis - By Diagnostic approach:

• Circulating Tumour cells (CTC)

• Circulating Tumour DNA (ctDNA test)

• RNA in exosomes

• Extra-Cellular Vesicles

More than 8-10 CTCs and ctDNA tests are currently commercialized. 

CTCs (Circulating Tumour cells), the first such entities on the liquid biopsy scene, accounted for a significant market share. As a result, the cancer institute is the largest revenue end-user segment and is expected to create substantial opportunities in the global liquid biopsy market over the forecast period.   

However, the circulating tumor DNA (ctDNA test) is also expected to show significant revenue growth because DNA is the base genetic material of all cells. Therefore, any problems can be examined and treated by observing the fundamental changes in the DNA structure. Thus with the increasing cases of circulating tumor cells, there is a need to monitor the DNA structures. 

Liquid Biopsy Market Analysis - By Sample Type:

• Blood

• Urine

• Plasma

• Saliva

• Cerebrospinal Fluid

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 it when it is treated at first levels shows a positive impact on the market's growth.

However, the urine segment is also expected to show promising growth during the forecast period as it is the most common method used for cancer diagnosis. Urine is readily available to be tested and is a fast and efficient process of diagnosis that does not require complex extraction methods, making it the second most preferred method. Urine is also preferred by patients who are scared of needles or blood extraction. In addition, it is an entirely non-invasive process making it comparatively safer. 

Liquid Biopsy Market – By End User:

• Reference Laboratories

• Hospital/Physician Laboratories

• Academic and Research Centres

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.

However, the academic and research segment is expected to grow significantly during the forecast period due to the growing research in the treatment of cancer in educational institutes and the increased research on the same topic. Additionally, the newfound freedom of students towards experimentation and the increasing number of research institutes is helping the segment grow. 

Liquid Biopsy Market – By Region:

• North America

• Europe

• Asia-Pacific

• Latin America

• The Middle East and Africa

The North American liquid biopsy market witnessed the most significant global market share 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 global market share 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 in 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 playing a notable role in the global liquid biopsy market are Janssen Diagnostics, Qiagen, Rarecells SAS, Silicon Biosystems, SRI International, Myriad Genetics, Natera, and Personal Genome Diagnostics, Sysmex InosticsTrovagene, Exosome Diagnostics, Exosome Sciences, and HansaBiomed OU.

RECENT HAPPENINGS IN THIS MARKET:

In September 2022, Predicine, Inc., a firm that provides worldwide molecular insights, said today that it would exhibit four posters at the ESMO conference, which will take place in Paris, France, from September 9 to 13, 2022.

High-performing assays that offer translational insights to support possible cancer therapy approaches are part of Predicine's liquid biopsy portfolio. Necessary details include the full range of cancer care covered by NGS solutions based on urine, blood, and tissue, from treatment selection to therapy monitoring and minimal residual disease (MRD) monitoring. In addition, Predicine's ability to conduct international clinical trials and produce companion diagnostics (CDx) using standardized assays in the USA and ChinaPredicine, Inc., a firm that provides worldwide molecular insights, said today that it would exhibit four posters at the ESMO conference, which will take place in Paris, France, from September 9 to 13, 2022.

In September 2022, "ANGLE," a global leader in liquid biopsy, released its unaudited interim financial results for the six months ending June 30, 2022.

The Parsortix system received FDA De Novo clearance for its intended use with metastatic breast cancer (MBC) patients; the first FDA product clearance to harvest cancer cells from a patient blood sample for later user-validated analysis; first mover advantage for intact cancer cell analysis in the global liquid biopsy market with FDA clearance and CE Mark in place; and the commercial roll-out in progress with a worldwide distributor network are among the operational highlights.

In September 2022, The PredicineCARETM cfDNA Assay, a Next-Generation Sequencing (NGS) assay for tumor mutation profiling in cfDNA isolated from liquid biopsy samples from cancer patients, received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA), according to a recent announcement from Predicine, Inc., a global molecular insights company dedicated to advancing precision medicine in oncology and infectious diseases.

The PredicineCARE cfDNA Assay is a specific, CLIA-validated assay that searches for variations in 152+ genes, including known clinically significant single nucleotide variants (SNVs), insertions and deletions (indels), DNA re-arrangements (fusions), and copy number variations (CNVs). The PredicineCARE cfDNA Assay is being created to recognize cancer patients with specific indications who may benefit from treatment with targeted therapy and are biomarker-eligible.

In March 2017, Adha Test Prostate Cancer Panel AR-V7 was introduced by QIAGEN N.V. (Netherlands). It is used to detect the androgen receptor splice variant seven and promote better treatment for the patient.

In March 2017, AVENIO circulating tumor DNA (ctDNA) Analysis Kits were introduced by Roche Diagnostics, which plays an essential role in all Next Generation Sequencing (NGS) laboratories.

In April 2017, the partnership between Myriad Genetics Inc. (U.S.) and BeiGene (Cayman Islands) strengthened the position of the companies in the market. The main focus of BioGene, a biopharmaceutical company, is to develop molecularly targeted and immune-oncology drug candidates for cancer patients. These drugs are very effective in treating cancer and promoting hospital healthcare services. Also, this partnership has brought many changes in the laboratories using Myriad's myChoice HRD and BRACAnalysis CDx companion diagnostic tests.

In April 2017, Janssen Diagostics LLC. (the U.S.) was acquired by Menarini Silicon Biosystems (Italy), and this is related to the CELL SEARCH Circulating Tumor Cell System. Menarini Silicon Biosystems (Italy) has entered the U.S. diagnostics market with this acquisition.