Liquid biopsy is a medical procedure that analyzes blood sample to find cancer cells as well as fragments released from tumor tissues. This simple and less invasive procedure allows medical professionals to study cancer at a molecular level to understand tumor progression and personalize treatment according to an individual patient’s cancer profile.
The global Liquid Biopsy Market is estimated to be valued at US$ 5.25 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing research and development in cancer treatment is one of the major factors fueling growth of liquid biopsy market. Liquid biopsy helps researchers to monitor cancer treatment effectiveness in real time by analyzing blood samples without repeated tumor biopsy procedures. This non-invasive method allows doctors to quickly detect molecular changes in tumor due to therapy and accordingly modify treatment process. With advancement in liquid biopsy technology, researchers are able to study various cancer associated biomarkers to develop effective targeted drug therapies.
Strength: The liquid biopsy market is gaining traction due to its minimally invasive nature and ability to monitor cancer progression and recurrence. It provides real-time monitoring without repeated tissue biopsies.
Weakness: Accuracy and sensitivity of liquid biopsy tests need to be improved. Low cancer cell fractions in blood make detection challenging. Standardization and regulatory issues exist.
Opportunity: Liquid biopsy has potential applications in treatment response monitoring, detection of residual disease, and early cancer screening. It can track molecular changes during cancer therapy and help optimize treatment strategies.
Threats: Reimbursement policies for liquid biopsy tests are still evolving. Market acceptance of liquid biopsy as standard-of-care for cancer management will take time. Competition from tissue biopsy may limit full market penetration.
The global liquid biopsy market analysis is expected to witness high growth over the forecast period of 2023 to 2030 supported by the advantages of liquid biopsy over conventional tissue biopsy procedures. The global Liquid Biopsy Market is estimated to be valued at US$ 5.25 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030.
Regional analysis: North America captured the largest share of the liquid biopsy market in 2022 due to increasing incidence of cancer, rising healthcare spending, and rapid adoption of advanced technologies. Asia Pacific is anticipated to witness the fastest growth rate during the forecast period driven by rising healthcare awareness, improving diagnostic infrastructure and growing private sector involvement in countries such as China and India.
Key players: Key players operating in the liquid biopsy market are BASF SE, Spectrum Chemical Manufacturing Corp., Kudos Chemie Limited, AVT Natural Products, Tianjin Zhong€TMan, Pharmaceutical Company Ltd., Shandong Xinhua Pharma, Aarti Industries Limited, Bakul Group, Taj Pharmaceuticals Limited., and Jilin Shulan Synthetic Pharmaceutical Co. Ltd. These companies are focusing on new product launches, collaborations and geographic expansions to strengthen their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it