The global liquid biopsy market was valued at USD XX million in 2020 and is expected to reach USD XX million in 2027, growing at a CAGR of XX% during the forecast period. Liquid biopsy is a non-invasive procedure which enables doctors to identify the information regarding the tumor using a blood sample. This technique is mainly used to diagnose chronic diseases such as cancer. It is also used to monitor the effect of treatment on cancer patients’ multiple times. The liquid biopsy will take a prominent position for cancer-related probe and investigation. The liquid biopsy is rapidly substituting conventional tumor biopsies. These are developed out of the need to acquire the most amount of molecular information about cancer. This cancer information is obtained with the least amount of surgical invasion. Furthermore, the clinical trials for the development of these tests have given positive results and have led to larger scaled clinical trials demonstrating efficacy.
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 tumor heterogeneity, acquired drug resistance, and patient comfort (by eliminating the need for surgery).
In April 2017, Menarini Silicon Biosystems (Italy), Inc. acquired Janssen Diagnostics, LLC. (US). This acquisition of Janssen Diagnostics' business related to CELLSEARCH Circulating Tumor Cell System. The acquisition marks Menarini-Silicon Biosystems’ first entry into the US diagnostics market.
The key players in the global liquid biopsy market are 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. Several M&A’s along with partnerships have been undertaken by these players to develop new and advanced technologies.
Insights Presented in the Report
“Amongst Cancer Type, Lung Cancer segment holds the major share.”
Based on the cancer 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 million deaths globally in 2020. Further, prostate cancer is expected to be the fastest growing segment during the forecast period as it is the most prevalent type of cancer and the second leading cause of death in North America.
“Amongst Product, Assay Kits segment dominated the market during the forecast period.”
Based on product, the liquid biopsy market is segmented into assay kits, instruments. Among these, the assay kits segment is expected to be the fastest-growing segment in the product and services market during the forecast period. Factors such as the increasing demand for liquid biopsy tests, increasing applications of liquid biopsies, and the need for reliable and specific assays are expected.
“Amongst End User, Hospital’s segment dominated the market during the forecast period.”
Based on end user, the liquid biopsy market is segmented into reference laboratories, hospitals and physician laboratories, academic and research centres. Reference laboratories form the largest and fastest-growing end-user segment of the liquid biopsy market. They can be attributed to the large volume of tests being outsourced to reference laboratories from oncologists and hospitals.
“North America represents one of the largest markets of Liquid Biopsy market.”
For a better understanding of the market dynamics of the Liquid Biopsy market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of US$ XX million in 2020 owing to the rising per capita income.
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