Liquid Biopsy Market Analysis and Forecast to 2031: By Product & Services (Kits & Reagents, Platforms & Instruments, Services), Circulating Biomarker (Circulating Tumor Cells, Extracellular Vesicles, Circulating Tumor DNA, Others), Cancer Type (Lung Cance

Liquid Biopsy Market Analysis and Forecast to 2031: By Product & Services (Kits & Reagents, Platforms & Instruments, Services), Circulating Biomarker (Circulating Tumor Cells, Extracellular Vesicles, Circulating Tumor DNA, Others), Cancer Type (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Liver Cancer, Others), and Region

The liquid biopsy market was valued at USD 2.6 billion in 2021, and it is anticipated to grow further till USD 13.4 billion by 2031, at a CAGR of 17.8% during the forecast period.

Liquid biopsy is an easy, quick, non-invasive, and repeatable sampling technique that can reflect changes in tumor gene expression profiles and offer a solid foundation for a customized treatment and cancer early detection. The focus in recent years has also been on early cancer detection, tracking the development of tumors, evaluating therapy response and clinical prognosis, and identifying recurrent and refractory cancers. Furthermore, due to technological advancements in both practicality and turnaround time, liquid biopsy has recently attracted a lot of attention as a non-invasive substitute procedure for tissue biopsy in patients with cancer.

Market Trends and Drivers

The number of persons who have cancer has significantly increased on a global scale. Environmental factors, cigarette use, infectious diseases like Hepatitis B and C, as well as lifestyle changes, are some of the causes of the increased incidence of cancer. Cancer is the second-leading cause of mortality worldwide, according to the WHO. According to estimates from the International Agency for Research on Cancer (IARC), there would be 19.3 million new cases of cancer and 9.96 million cancer-related deaths worldwide in 2020. Compared to conventional cancer diagnostic methods, liquid biopsy has various advantages, including lower cost, early prognosis, therapy monitoring, tumour heterogeneity identification, acquired drug resistance, and patient comfort (by eliminating the need for surgery).

Market Restraints and Challenges

The quantities of ctDNA of any particular cancer mutation may be very low in the plasma of a cancer patient, especially after treatment or surgery, making the detection of ctDNA in liquid biopsies technically difficult. According to sampling statistics, there may be fewer than one detectable copy of the cancer mutation-containing ctDNA in any one patient's plasma sample. As a result, even though ctDNA is present in the plasma but at a low level, it might not be picked up in the patient sample. This affects the informative value of the liquid biopsy tests for cancer by producing false-negative results where ctDNA is present but not identified.

Global Liquid Biopsy Market Segmental Overview

The report analyses the global liquid biopsy market based on the product service, circulating biomarker, cancer type, and region.

Global Liquid Biopsy Market by Product Service

Based on the product services, it is segmented into kits reagents, platforms instruments, and services. The platforms instruments segment is anticipated to dominate the market during the forecast period. Due to a significant amount of ongoing platform and instrument development, research, and approvals in 2020. A high-performance, exome-scale tumor-profiling tool called NeXT Liquid Biopsy, for instance, was introduced by Personalist, Inc. in 20202020. It makes use of blood samples from patients with advanced-stage solid tumor malignancy. Additionally, Guardant Health, Inc. is creating brand-new precision oncology drugs using its massive clinical-genomic liquid biopsy dataset for patients with advanced cancer and its Guardant INFORM platform.

Global Liquid Biopsy Market by Circulating Biomarker

Based on the circulating biomarker, it is segmented into circulating tumor cells, extracellular vesicles, circulating tumor DNA, and others. The circulating tumor cells segment is anticipated to dominate the market during the forecast period. Due to a rise in recent years in the number of clinically necessary tests using genetic studies. Additionally, due to the rapid growth of next-generation sequencing (NGS) technologies in liquid biopsy advancements applied to circulating tumor DNA, circulating tumor DNA is anticipated to be the segment with the fastest rising rate during the projected period (ctDNA).

Global Liquid Biopsy Market by Cancer Type

Based on the cancer type, it is segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, liver cancer, and others. The lung cancer segment is anticipated to dominate the market during the forecast period. Because non-small cell lung cancer is becoming more common worldwide. For instance, according to the World Health Organization, lung cancer will account for the vast majority of cancer-related fatalities worldwide (1.80 million deaths) in 2020. Prostate cancer, which is the most common type of cancer and the second largest cause of death in North America, is also anticipated to experience the fastest growth during the projected period.

Geographical Analysis of the Global Liquid Biopsy Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. The expansion of the liquid biopsy market in North America is supported by the region's high cancer prevalence and widespread use of innovative liquid-biopsy diagnostics. However, over the analysis period, Asia-Pacific is anticipated to have the greatest CAGR. This is explained by an increase in disposable income, government measures to improve the healthcare system, and an increase in healthcare costs. Additionally, partnerships and strategic approvals with top industry players to advance liquid biopsy technology in this area are anticipated to promote market expansion.

Major Players in the Global Liquid Biopsy MarketCOVID-19 Impact

Although COVID-19's far-reaching consequences have been unprecedented, cancer sufferers have been among the most severely impacted groups. The number of patients getting cancer screening, diagnosis, and treatment has been significantly impacted by COVID-19. Oncology clinics were re-profiled for treating patients with the COVID-19 as a result of the increasing demand brought on by the rising rate of COVID-19 patients being hospitalized. As a result, a study found that numerous diagnostic and therapeutic operations, including up to 2.3 million cancer surgeries, have been shelved or delayed globally.

However, as nations gradually loosen their travel restrictions, testing numbers are expected to increase again. Responding to rising cancer incidence has become a critical medical concern on a global scale since the COVID-19 pandemic. Cancer has been recognized as a risk factor for COVID-19 due to the fact that several COVID-19 patients had malignancies. It is predicted that additional research in this area would advance cancer research by helping to better understand the dynamics of infection. It is also anticipated that this will increase demand for liquid biopsy products.

Recent Developments

• June 2021, Biocept Inc., and Quest Diagnostics collaborated to develop an advanced NGS testing technology especially for the lung cancer patients.
• June 2021, Guardant Health Inc., launched its Guardant 360 Response test that detects changes in circulating tumor DNA levels.
• October 2020, F. Hoffmann-La Roche Ltd., received the US FDA approval of expanded claims for the cobas EGFR Mutation Test v2 to be used as a companion diagnostic for a broader group of therapies to treat non-small cell lung cancer.
• March 2020, Biocept, Inc., entered into an agreement with a second California-based independent physician association to provide its Target Selector liquid biopsy assay services to physicians and patients in the network.

Frequently Asked QuestionsQ1. How big is the Liquid Biopsy market?Ans. The global Liquid Biopsy market size was USD 2.6 billion in 2021 and is anticipated to reach USD 13.4 billion in 2031, growing at a rate of 17.8% from 2022 to 2031.Q2. What is the Liquid Biopsy market growth rate?Ans. The growth rate of the Liquid Biopsy market is 17.8%.Q3. Which region holds a major market share for the Liquid Biopsy market?Ans. North America holds a major market share of the Liquid Biopsy market in 2021.Q4. Which segment accounted for the largest Liquid Biopsy market share?Ans. By product service, kits reagents segment accounted for the largest Liquid Biopsy market share.Q5. Who are the key players in the Liquid Biopsy market?Q6. What are the factors driving the Liquid Biopsy market growth?Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.Q7. What are the key growth strategies of Liquid Biopsy market players?Ans. The key growth strategies of Liquid Biopsy market players are product launch and product approval.Q8. Which region will provide more business opportunities for the Liquid Biopsy market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the Liquid Biopsy market during the forecast period.

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