Liquid Biopsy Market Overview:
Global Liquid Biopsy Market was valued at $634 million in 2016, and is estimated to reach at $3,805 million by 2023, registering a CAGR of 28.9% from 2017 to 2023. Liquid biopsy tests are executed to understand the molecular aspects of cancer across the healthcare and research settings, such as hospitals, physicians, pathological and research laboratories. It is a non-invasive blood test that could provide researchers, physicians, and surgeons with information about the cancer profile of the patient and appropriate therapy to improve the survival rate of the cancer patients. It is a rapid process that usually includes a simple blood draw, extraction of nucleic acids from the blood plasma, and amplification of the molecular targets to permit analysis of the defined biomarkers. Easy and non-invasive access to the tumor genome, early cancer diagnosis & detection, characterization of new lesions, drug & therapeutic target identifications for cancer treatment are some advantages of liquid biopsies, which improve the safety and efficiency of cancer therapy for patients. The advantages of liquid biopsy over solid tumor biopsy, rise in awareness about minimally invasive procedures, favorable government initiatives, and presence of huge cancer population base are major factors that drive the market growth.
Global Liquid Biopsy Market Segmentation
The global liquid biopsy market is segmented based on product & service, circulating biomarker, cancer type, end user, and geography. Based on product & service, it is categorized into reagents, instruments and services. On the basis of circulating biomarker, it is classified into circulating tumor cells, circulating tumor DNA, extracellular vesicles and other biomarkers. The market is studied across different cancer types, such as lung, breast, colorectal, prostate, liver, and other cancers. Based on end user, it is bifurcated into hospitals & laboratories and government & academic research centers. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market is expected to witness a moderate growth during the forecast period, owing to the benefits offered by liquid biopsies over solid tissue biopsy methods. Furthermore, surge in prevalence of cancer and rise in awareness about minimally invasive methods among the patient pool are anticipated to augment the market growth. The increase in pre-screening programs for cancer detection is expected to present various opportunities for market expansion. However, alternatives to liquid biopsies and unclear reimbursement & regulation scenario are expected to hamper the market growth.
The report provides extensive competitive analysis and profiles of key market players, such as Biocept, Inc., Qiagen, F. Hoffmann-La Roche AG, Bio-Rad Laboratories Inc., Myriad Genetics, Janssen Diagnostics, LLC., Trovagene Inc., Guardant Health Inc., GRAIL, and MDX Health SA.
The other players in the value chain include Fraunhofer-Gesellschaft, Horizon Discovery, Illumina, Inc., Cynvenio, Diagnologix, Exosome Sciences, and CyoTrack.
Liquid Biopsy Market, By Geography, 2016-2023 ($Million)
Asia-Pacific possesses high market potential for the growth of liquid biopsy market, owing to high incidence of cancer and rise in healthcare expenditure. This region is anticipated to experience fast-paced growth, in terms of development and use of liquid biopsy tests.
India Liquid Biopsy Market, 2016-2023 ($Million)
India liquid biopsy market is projected to grow at a CAGR of 32.7% during the forecast period.
- This report entails a detailed quantitative analysis of the current market trends from 2016 to 2023 to identify the prevailing opportunities.
- Market estimations are based on comprehensive analysis of the key developments in the industry.
- In-depth analysis based on geography assists to understand the regional market and the strategic business planning.
- The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.
Liquid Biopsy Market Key Segments
By Product & Service
By Cancer Type
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Liver Cancer
- Other Cancers
By Circulating Biomarker
- Circulating Tumor Cells
- Extracellular Vesicles
- Circulating Tumor DNA
- Other Biomarkers
By End User
- Hospitals & Laboratories
- Government & Academic Research Centers
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA