Richmond, Nov. 21, 2023 (GLOBE NEWSWIRE) -- According to a research report "Liquid Biopsy Market”, by Offering (Assay Kits, Instruments, Services), Circulating Biomarkers (Circulating Tumor Cells, Circulating Tumor DNA (ctDNA), Cell-free DNA (cfDNA), Extracellular Vesicles (EVS), Other), Sample Type (Blood, Other Sample Types), Technology (Multi-gene Parallel Analysis using NGS, Single-gene Analysis using PCR Microarrays), Application, End User and Region.
Global Liquid Biopsy Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 4.6 Billion |
| Market size value in 2030 | USD 15.6 Billion |
| CAGR (2023-2030) | 16.5% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Offering, Circulating Biomarkers, Sample Type, Technology, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Liquid Biopsy Market
180 - Market Data Tables
70 - List of Figures
240 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global liquid biopsy market has emerged as a transformative force in the field of cancer diagnostics and treatment monitoring. Unlike traditional tissue biopsies, liquid biopsy involves analyzing circulating biomarkers, such as circulating tumor DNA (ctDNA), circulating tumor cells (CTCs), and exosomes, found in bodily fluids like blood. This non-invasive approach provides real-time insights into the genetic makeup of tumors, enabling early cancer detection, monitoring treatment response, and assessing the emergence of resistance mutations. The market's significance lies in its ability to revolutionize cancer care by offering a less invasive, more accessible, and potentially more comprehensive method for understanding the molecular characteristics of tumors.
In the broader healthcare ecosystem, the liquid biopsy market plays a vital role in advancing precision medicine and personalized treatment strategies. The technology not only enhances early cancer detection but also facilitates the identification of specific genetic alterations, allowing clinicians to tailor therapies to individual patients. This targeted approach holds the potential to improve patient outcomes, minimize adverse effects, and optimize resource utilization. Furthermore, the liquid biopsy market benefits the biotechnology and pharmaceutical industries by supporting the development and testing of targeted therapies, ultimately contributing to the evolution of a more effective and efficient cancer treatment landscape.
Major Vendors in the Global Liquid Biopsy Market:
- Bio-Rad Laboratories Inc.
- Biocept Inc.
- Guardant Health
- Illumina Inc.
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson Inc.
- Laboratory Corporation of America Holdings
- MDxHealth SA
- QIAGEN
- Thermo Fisher Scientific Inc.
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Rising Incidence of Cancer
One of the primary drivers propelling the global liquid biopsy market is the escalating incidence of cancer worldwide. According to the World Health Organization (WHO), cancer is a leading cause of morbidity and mortality globally, with an estimated 19.3 million new cancer cases and nearly 10 million cancer-related deaths reported in 2020. Liquid biopsy, offering a non-invasive and repeatable method for cancer detection and monitoring, has become pivotal in the battle against this disease. The ability of liquid biopsy to capture real-time genetic information from circulating tumor components, such as ctDNA and CTCs, provides clinicians with a dynamic and comprehensive view of the tumor landscape. This facilitates early detection, monitoring treatment response, and identifying potential resistance mechanisms, critical factors in designing effective and personalized cancer therapies.
Market Dynamics
Drivers:
- Increasing Incidence of Cancer Globally
- Advancements in Genomic Technologies
- Non-invasive Nature of Liquid Biopsy
- Growing Emphasis on Personalized Medicine
Opportunities:
- Expansion of Liquid Biopsy Applications Beyond Oncology
- Rising Adoption of Next-Generation Sequencing (NGS) Technologies
- Integration of Artificial Intelligence and Machine Learning in Data Analysis
- Emerging Markets with Untapped Growth Potential
Advancements in Genomic Technologies
The continuous advancements in genomic technologies significantly contribute to the growth of the liquid biopsy market. Next-generation sequencing (NGS) and digital PCR technologies have played a crucial role in enhancing the sensitivity and specificity of liquid biopsy assays. These technologies enable the detection of minute quantities of circulating tumor components, even in early-stage cancers, and allow for the identification of rare genetic mutations. As the cost of genomic sequencing continues to decline and the analytical capabilities of these technologies improve, liquid biopsy is becoming more accessible for routine clinical use. The integration of artificial intelligence and machine learning in data analysis further enhances the accuracy and efficiency of liquid biopsy results, making it a valuable tool in the era of precision medicine.
North America dominates the market for Liquid Biopsy.
In the global landscape, North America dominates the liquid biopsy market, with the United States being a key contributor. The region's robust healthcare infrastructure, high prevalence of cancer, and substantial investments in research and development contribute to its market leadership. The U.S. FDA's approval of liquid biopsy-based companion diagnostics has further accelerated the market adoption.
While North America holds a significant share, the Asia-Pacific region, led by China, is emerging as a high-growth market for liquid biopsy. The increasing cancer burden in Asia, coupled with improving healthcare infrastructure and rising awareness, is driving market expansion. China, in particular, is witnessing rapid growth, supported by initiatives promoting precision medicine and genomics research. Other countries like Japan and South Korea are also making strides in adopting liquid biopsy for cancer management, showcasing high growth potential in the near future. The escalating healthcare expenditure, coupled with a growing emphasis on early cancer detection and personalized medicine, positions these countries as key players in the expanding global liquid biopsy market.
The Technology Segments is anticipated to hold the Largest Market Share during the Forecast Period
Based on technology the liquid biopsy market is segmented into Multi-gene Parallel Analysis using NGS and Single-gene Analysis using PCR Microarrays. The technology segment encompassing multi-gene parallel analysis using Next-Generation Sequencing (NGS) and single-gene analysis employing Polymerase Chain Reaction (PCR) microarrays is dominating the liquid biopsy market due to its dual advantage of comprehensive genomic profiling and targeted, cost-effective analysis. NGS allows simultaneous examination of numerous genes, providing a holistic view of the tumor's molecular landscape, essential for personalized treatment strategies. Meanwhile, single-gene analysis using PCR microarrays offers a focused approach, ideal for scenarios where specific genetic mutations need precise identification. The synergy of these technologies enables clinicians to balance depth and breadth in genomic analysis, catering to diverse clinical needs, making this segment a preferred choice in liquid biopsy applications.
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