United States Liquid Biopsy Market Revenue and Forecast to 2028

United States Liquid Biopsy Market Revenue and Forecast to 2028

Executive Summary

The US Liquid biopsy market has witnessed yearly growth rate between 3%-6% in last five years and despite of disturbances in the year 2020 the market witnessed a positive growth, owing to the increasing number of cancer patients and liquid biopsy being on introduction stage. The market is expanding as a result of the rising incidence of cancer and the preference for minimally invasive medical procedures. In addition, the market for liquid biopsies in the US is anticipated to develop due to rapid R&D, investments in the field and also rising awareness which is considered to be low as of now. Additionally, it is projected that the spread of infectious diseases like Hepatitis B and C and rising public awareness of health issues would fuel market expansion.

US Economic Performance

In the first quarter of 2021, the US economy expanded by 6.4%, driven by increases in government spending of 5.7% and business investment of 11.7%.

The COVID-19 pandemic has brought to an end the longest economic expansion in American history, which lasted over 11 years. Since the Great Depression, this has dealt the economy its heaviest hit. A nearly 11-year economic boom came to an end in the first quarter when the economy shrank by 5%. In the second quarter, there was even another drop of 31.4%. Initial estimates indicated a decline of 32.9% in August, which were then corrected to 31.7% in September.

According to the World Health Organization, cancer is one of the leading causes of patient death globally. Liquid biopsy is a popular cancer treatment option since it is more effective than more traditional cancer diagnostic techniques. Liquid biopsy has various advantages over traditional therapeutic modalities, such as enhanced patient comfort, acquired drug resistance, lower cost, therapy monitoring, early prognosis, and tumor heterogeneity discovery.

Currently, circulating tumor DNA (ctDNA), circulating tumor cells (CTC), and exosomes are collected using patient blood, saliva, and urine samples. The non-invasiveness of liquid biopsy is the main element influencing its great demand among medical professionals. It is less invasive, more convenient, and quicker for patients than other treatments because just 5 milliliters of blood are required.

Future Growth Opportunities

The US Liquid Biopsy Market is expected to reach more than USD 900 million by 2028, registering a CAGR growth of 14% from 2023-2028. Increasing healthcare expenditure and adoption of liquid biopsy test to treat rare cancers will be some of the major factors driving the market revenue growth in coming years. Liquid biopsy is a non-invasive technique for identifying tumor markers that can be used to assess treatment response or as an alternative for patients whose tissue cannot be biopsied. It is less expensive than tumor tissue biopsy and provides a precise picture of a tumor's genetic environment. Circulation Tumor Cells (CTCs) account for the major market share in US Liquid Biopsy market and expected to continue to lead in near future.

Types of Liquid Biopsy

By Biomarkers Type: The US Liquid Biopsy market by Type is divided into, Cell-Free DNA (cfDNA) , Circulating Tumor DNA (ctDNA), Extracellular Vesicles (Evs), and Other Biomarkers. Circulation Tumor Cells (CTCs) account for the major market share in US Liquid Biopsy Market in 2021. The non-invasiveness of liquid biopsy is the main element influencing its great demand among medical professionals.

By Product: By Product Service the US Liquid Biopsy Market is divided into Kits & Consumables, Instruments and Services. Due to several platform and instrument approvals and ongoing research and development projects, the Kits & Consumables sector held the majority of the market share in 2021.

By Therapeutic Application: By Therapeutic Application, the US Liquid Biopsy market is divided into Oncology and Non Cancer Biopsy Market. In terms of revenue share in 2021, oncology held the largest market share. For the detection and treatment of different types of cancer, liquid biopsy is being used more and more.

By Cancer Type: The US Liquid Biopsy market by Cancer type is majorly segmented into Lung Cancer, Breast Cancer, Colorectal Cancer and Prostate Cancer. Cancer is the second most common disease among the US population. With more fatalities than colorectal, breast, and prostate cancers combined, lung cancer and breast cancer are one of the main reasons for cancer-related deaths in the US and Breast cancer account for the major market share of revenue in US Liquid Biopsy Market.

By Cities: By Cities, the US Liquid Biopsy market is segmented by major cities including, California, Texas, Florida, New York, Georgia, Washington, New Jersey and Other cities. California accounts for the major market share due to increasing number of cancer patients and increasing adoption of novel liquid biopsy tests across the cities.

Scope of the Study

The following synopsis is based on the report titled " United States Liquid Biopsy Market Revenue and Forecast to 2028" published by Makreo Research and Consulting.

The report delves deeply into various parameters such as Market size, segmentation value chain analysis, and industry cause and effect analysis. The study includes macro-economic factors that provides an understanding of factors performance, and an analysis of future opportunities that may help market players to capitalise on untapped business potential in the specific geography. It is important to understand virous types of cancer present before proceeding with liquid biopsy market thus market section describes prevalence of cancer and by type of cancer.

US Liquid Biopsy Market Segmentation

• US Liquid Biopsy Market
• By Biomarker Type

Cell-Free DNA (cfDNA)

Circulating Tumor DNA (ctDNA)

Extracellular Vesicles (Evs)

Other Biomakers

• By Product

Kits & Consumables

Instruments

Services

• By Therapeutic Applications

Oncology

Non Cancer Biopsy

• By Cancer Type

Lung Cancer

Breast Cancer

Colorectal Cancer

Prostrate Cancer

• By Cities

California

Texas

Florida

New York

Georgia

Washington

New Jersey

Other cities

US Liquid Biopsy Companies Mentioned

Qiagen

Myriad Genetics Inc.

Biocept Inc.

Sysmex Corp.

Thermo Fisher Scientific Inc.

Exact Sciences Corporation

Biocartis

Agilent Technologies Inc.

NeoGenomics

The report helps reader to gain information on following areas:

- How liquid biopsy adoption was in the past and what is the present scenario of the industry?

- What is the present market growth of the liquid biopsy in the United States and at what rate industry is expected to grow?

- How Cell-Free DNA (cfDNA) is positioning in the market and what is the growth prospect for Circulating Tumor DNA (ctDNA).

- What is the market revenue of the US Liquid Biopsy Market?

- What are the major growth factors of accounting for adoption of Liquid Biopsy among US nationals?

- What is the present state of Liquid Biopsy Market in the US?

- Does liquid biopsy only serve cancer detection or can be used for non-cancer testing?

- Which type of cancer patient majorly prefer liquid biopsy in the US?

- What are the key factors driving the market growth?

- Who all are the prominent players in the US Liquid Biopsy Market?