by The Liquid Biopsy Market is estimated to be valued at Us$ 13,220.0 Mn in 2022 and is expected to exhibit a CAGR Of 4.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Liquid biopsy is a non-invasive blood test that detects cancer by finding DNA shed by tumor cells into the blood stream. It allows for a simple blood draw rather than invasive tumor biopsies and can provide molecular information about all of a patient’s tumor lesions rather than just one. Liquid biopsy is used for various applications such as early cancer detection, therapeutic response monitoring, and treatment selection.
Market Dynamics:
The liquid biopsy market is projected to witness significant growth, driven by increasing adoption of artificial intelligence and machine learning for liquid biopsy data analysis. AI is enabling reliable detection of tumor-derived DNA fragments in blood samples at very low concentrations. For example, Freenome, a US-based company, uses machine learning models trained on tens of thousands of blood samples to detect early-stage cancers through liquid biopsy.
Additionally, rising prevalence of cancer around the world is also propelling market growth. According to the World Cancer Research Fund, approximately 18.1 million new cancer cases were reported globally in 2018. Early detection through non-invasive methods such as liquid biopsy can significantly improve cancer treatment outcomes.
Segment Analysis
The liquid biopsy market is segmented based on product and services, circulating biomarkers, clinical applications, end users and region. The circulating tumor DNA (ctDNA) segment is expected to dominate this market during the forecast period. CtDNA offers critical information about mutational status, tumor heterogeneity, minimal residual disease monitoring and tumor evolution during therapy. This allows physicians to monitor disease progression and recurrence over time without subjecting patients to repeated invasive procedures.
PEST Analysis
Political: Regulations regarding liquid biopsy testing are evolving. Standardization of protocols will help market growth.
Economic: Rising healthcare costs are driving demand for minimally invasive and less expensive alternatives like liquid biopsy.
Social: Increasing awareness about early cancer diagnosis and treatment is positively impacting adoption.
Technological: Advancements in Next Generation Sequencing and biomarker analysis have expanded clinical applications of liquid biopsy.
Key Takeaways
The global lIQUID bIOPSY mARKET is expected to witness high growth, exhibiting a CAGR of 4.5% over the forecast period, due to increasing demand for non-invasive cancer screening and diagnosis. The market size in 2022 is US$ 13,220.0 Mn.
Regional analysis: North America currently dominates the liquid biopsy market due to rapid adoption of advanced technologies for clinical applications. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period owing to rising healthcare spending and increasing prevalence of cancer.
Key players operating in the Liquid Biopsy Market are Guardant Health, F. Hoffmann-La Roche Ltd, Myriad Genetics, Eurofins Scientific, Qiagen, Menarini Silicon Biosystems, Thermo Fisher Scientific Inc.
Key players like Guardant Health and Roche are focused on expanding clinical utility of liquid biopsy in various cancer types by developing blood tests that cover multiple clinically actionable gene mutations and fusions through a single blood draw. This simplifies cancer management decisions for clinicians.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
