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Liquid Biopsy in Cancer Diagnostic Market is Growing at a CAGR of 16.64%, DelveInsight

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Liquid Biopsy in Cancer Diagnostic Market is Growing at a CAGR of 16.64%, DelveInsight

July 13
00:30 2022
Liquid Biopsy in Cancer Diagnostic Market is Growing at a CAGR of 16.64%, DelveInsight

Global liquid biopsy in cancer diagnostics market was valued at USD 7.64 billion in 2021, growing at a CAGR of 16.64% during the forecast period from 2022 to 2027 to reach USD 19.24 billion by 2027. Factors such as the rising incidence of various cancers, growing demand for minimally invasive procedures, increasing demand of precision medicine, technical innovation in product development among other factors are expected to drive the liquid biopsy in cancer diagnostics market.

 

Liquid Biopsy in Cancer Diagnostics: An Overview

A liquid biopsy is a test that enables the diagnosis or analysis of tumors using only a blood or fluid sample rather than a solid tissue biopsy. It is most commonly applied to the collection of peripheral blood for analysis of cell-free circulating tumor deoxyribonucleic acids (DNA).

 

Regions Covered in the Report

  • Global

 

Get To Know More Information about the Report- Liquid Biopsy in Cancer Diagnostics Market Share

 

Recent Developmental Activities in Liquid Biopsy in Cancer Diagnostics Market:

  • In October 2021, Sysmex Inostics developed a new CLIA-validated liquid biopsy test for the detection of Minimal Residual Disease (MRD) in Acute Myeloid Leukemia (AML). This new test, AML-MRD-SEQ, adds to the portfolio of ultra-sensitive Plasma-Safe-SeqS technology NGS tests available through Sysmex Inostics’ CLIA lab services in Baltimore, Maryland in the United States.
  • In June 2021, NeoGenomics completed its acquisition for Inivata Ltd, a global, commercial stage liquid biopsy platform company headquartered in Cambridge, England.
  • In January 2021, Exact Sciences Corporation acquired Thrive Earlier Detection Corp. (“Thrive”), a healthcare company dedicated to developing a blood-based, multi-cancer screening test.

 

Key Takeaways from the Liquid Biopsy in Cancer Diagnostics Market Report Study

  • Market analysis for current liquid biopsy in cancer diagnostics market size (2021), and market forecast for 5 years (2022-2027)
  • The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the liquid biopsy in cancer diagnostics market.
  • Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
  • Key companies dominating the global liquid biopsy in cancer diagnostics market.
  • Various opportunities available for the other competitor in the liquid biopsy in cancer diagnostics market space.
  • What are the top performing segments in 2021? How these segments will perform in 2027.
  • Which is the top-performing regions and countries in the current liquid biopsy in cancer diagnostics market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for liquid biopsy in cancer diagnostics market growth in the coming future?

 

Global Liquid Biopsy in Cancer Diagnostics Market 

Global liquid biopsy in cancer diagnostics market was valued at USD 7.64 billion in 2021, growing at a CAGR of 16.64% during the forecast period from 2022 to 2027 to reach USD 19.24 billion by 2027.

 

Global Liquid Biopsy in Cancer Diagnostics Market Driver

Factors such as the rising incidence of various cancers, growing demand for minimally invasive procedures, increasing prominence of precision medicine, technical innovation in product development among other factors are expected to drive the liquid biopsy in cancer diagnostics market.

 

Liquid Biopsy in Cancer Diagnostics Market Dynamics

One of the key aspects driving the liquid biopsy in cancer diagnostics market is the growing demand for liquid biopsy in cancer diagnostics due to increase in the cancer incidence. As per the GLOBOCAN study conducted by the International Agency for Research on Cancer, in 2020, an estimated number of 19.3 million new cancer cases (18.1 million excluding non-melanoma skin cancer) and near about 10.0 million cancer deaths were reported globally. The above-mentioned source further stated that in 2020, lung cancer remained the leading cause of cancer death, with an estimated 1.8 million deaths (18%), followed by colorectal (9.4%), liver (8.3%), stomach (7.7%), and female breast (6.9%) cancers.

Considering the increase in the number of new cancer cases all over the globe, there has been a growing emphasis on developing an alternative to conventional biopsies to facilitate the cancer diagnosis process and make it smoother for both patients and healthcare providers. Furthermore, the application of liquid biopsy in therapy management for cancers such as lung and breast is further expected to boost the product demand. Thus, the increasing patient population of cancers would, in turn, lead to an increase in demand for liquid biopsy products and services. Therefore, all the aforementioned factors are projected to contribute to the growth of liquid biopsy in the cancer diagnostics market.

 

COVID-19 Impact on Liquid Biopsy in Cancer Diagnostics Market

The liquid biopsy in cancer diagnostics market witnessed a dip in the generated revenue due to the implementation of measures to curb the spread of the COVID-19 infection. One of the major steps during the COVID surge was the suspension of numerous elective procedures and outpatient visits which reduced the demand for liquid biopsy products and services in the market as the healthcare system guidelines across the globe temporarily focused all their efforts on the management of COVID-19 infection patient load during the initial lockdown period.

s per the data provided by the Cancer Research UK, in the UK alone, for example, urgent lung cancer referrals fell by up to 75% during the first lockdown. This did not correlate to the decrease in cases, but that fewer people sought and obtained the diagnosis they urgently need. Unfortunately, these trends were prominent across countries around the globe. Nevertheless, the market for liquid biopsy in cancer diagnostics is on a period of recovery owing to devising of strategies to transform cancer care during the pandemic and approval of liquid biopsy products such as Exosomal liquid biopsy prostate test in March 2021 by the US Food and Drug Administration thereby presenting a future outlook for the liquid biopsy in cancer diagnostics market during the forecast period.

 

Liquid Biopsy in Cancer Diagnostics Market Segment Analysis

Liquid Biopsy in Cancer Diagnostics Market by Type (Product Type [Instruments and Reagents & Kits] and Services), by Sample Type (Blood, Urine, and Saliva), by Biomarker Type (Circulating Tumor Cells, Circulating Tumor DNA, Circulating Free DNA, and Others), by Cancer Type (Lung Cancer, Breast Cancer, Colon Cancer, and Others), by Technique (Polymerase Chain Reaction and Next Generation Sequencing), by End User (Hospitals, Diagnostic Centers, and Others), by Geography (North America, Europe, Asia-Pacific, and Rest of the World).  

In the type segment of the liquid biopsy in cancer diagnostics market, the services category is accounted for 73% of market revenue share in 2020. This can be ascribed to various aspects of services catered by this category. Many companies are operating in the domain where they offer services pertaining to liquid biopsy ranging from sample collection to NGS analysis.  One such example is an Australia-based company, BARD1 that offers a sample preparation platform called NETs Biomarker Capture Platform. This platform is a patented technology of the company to revolutionize the performance of liquid biopsy diagnostic assays.

 

Liquid Biopsy in Cancer Diagnostics Companies

Some of the key market players operating in the liquid biopsy in cancer diagnostics market includes Myriad Genetics Inc, Exact Sciences Corporation, Biocartis, Sysmex Corporation, Thermo Fisher Scientific Inc, Biocept Inc, Agilent Technologies Inc, MDx Health, Neogenomics Laboratories, F. Hoffman La Roche Ltd, Guardant Health,Bio-Techne, Illumina Inc, QIAGEN, Lucence Health Inc, Personal Gemone Diagnostics Inc, SAGA Diagnostics, Agena Bioscience Inc, The Menarini Group, MiRXES Pte Ltd. and others.

 

Find more related information about the report- Liquid Biopsy in Cancer Diagnostics Market Size

 

Table of Content

1. Liquid Biopsy in Cancer Diagnostics Market Report Introduction

2. Liquid Biopsy in Cancer Diagnostics Market Executive Summary

3. Regulatory and Patent Analysis

4. Liquid Biopsy in Cancer Diagnostics Market Key Factor Analysis

5. Liquid Biopsy in Cancer Diagnostics Market Porter’s Five Forces Analysis

6. COVID-19 Impact Analysis on Liquid Biopsy in Cancer Diagnostics Market

7. Liquid Biopsy in Cancer Diagnostics Market Layout

8. Liquid Biopsy in Cancer Diagnostics Market Company and Product Profiles

9. KOL Views

10. Bibliography

11. Project Approach

12. About DelveInsight

13. Disclaimer & Contact Us

 

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