Liquid Biopsy in Cancer Diagnostic Market: Current Analysis and Forecast (2022-2028)

Liquid Biopsy in Cancer Diagnostic Market: Current Analysis and Forecast (2022-2028)

A liquid biopsy is a novel test that aids in the diagnosis/analysis of tumors using only a blood or a fluid sample rather than a solid tissue biopsy. It is most commonly applied to collecting peripheral blood to analyze cell-free circulating tumor deoxyribonucleic acids (DNA). It is a relatively new test for the diagnosis of cancer and is associated with several benefits such as rapid results, low cost, early prognosis, overcoming tumor heterogeneity, low risk, and non-invasiveness. All these benefits of liquid biopsy over the traditional diagnosis are fueling the adoption of liquid biopsy among patients across the globe and are expected to significantly drive the demand during the forecast period.

The Liquid Biopsy In Cancer Diagnostic Market is expected to grow at a strong CAGR of 15% during the forecast period owing to the rise in the prevalence of cancer. The International Agency for Research on Cancer (IARC), in its report GLOBOCAN, has stated that approximately 19.3 million new cancer cases and about 10 million deaths related to cancer were recorded in 2020, across the globe. The IARC has estimated that new cancer cases are expected to rise by 47% all over the globe from 2020 to 2040. The surge in the prevalence of cancer will drive the demand for liquid biopsy in cancer diagnostic market during the forecast period.

• Based on product, the market is bifurcated into instruments and reagents & kits. The reagents & kits segment held significant share of the market in 2021. The growth is mainly due to the surge in the demand for kit, due to the inaccessibility of direct laboratories with infrastructure to undertake the liquid biopsy tests of most of the patients in need, the liquid biopsy market excessively relies on the distance collection of samples by transporting the diagnostics kits to the patient.
• By sample, the market is categorized into blood, urine, and saliva. The urine category is anticipated to grow with a high CAGR during the forecast period owing to several advantages including non-invasiveness, early detection, high DNA yield, and ability to identify genetic disorders. Moreover, the rising investments by researchers to launch novel tests is also driving the growth of the segment during the forecast period. For instance, in October 2020, U.S. FDA granted to the miR Sentinel PCC4 Assay (miR Sentinel Prostate Test), a urine-based, non-invasive test that can be used to diagnose, classify, and monitor prostate cancer.
• On the basis of cancer, the market is segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, and others. The lung cancer segment held the dominant share of the market in 2021 due to the growing number of patients with lung cancer. As per the American Cancer Society, in 2021, 235,760 people were diagnosed with non-small-cell lung cancer, the most common form of lung cancer in the U.S. Overall, around one in 17 men and one in 15 women are at risk of developing lung cancer in their lifetime. Moreover, the increasing investments by pharmaceutical giants is also having a positive impact on the market’s growth. For instance, in May 2020, Inivata collaborated with NeoGenomics for the commercialization of the InVisionFirst-Lung liquid biopsy test in the U.S.
• On the basis of biomarker, the market is segmented into circulating tumor cells (CTCs), circulating tumor DNA (ctDNA), circulating free DNA, and others. Circulating tumor DNA held the dominant share in the market in 2021. Over the recent years, ctDNA-based liquid biopsy analysis has created new opportunities in molecular diagnosis and monitoring of cancer. It is capable of precisely determining tumor progression, prognosis, and assisting in targeted therapy. Translational cancer researchers are using liquid biopsies to identify ctDNA from tumors. The detection of ctDNA serves as a potential biomarker and provides a great opportunity in future liquid biopsy applications for cancer detection. Compared to invasive procedures, ctDNA has been provided as an alternative source to carry out molecular profiling of tumor DNA in patients with cancer.
• Based on technique, the market is bifurcated into polymerase chain reaction and next-generation sequencing. The next generation sequencing category is anticipated to grow with significant CAGR during the forecast period as it is able to detect several mutations which is critical for the development of tumor. Moreover, key operating players have introduced innovative products, thus driving the market. For instance, in February 2021, Twist Bioscience Corp. launched Twist NGS Methylation Detection System for liquid biopsy cancer analysis and epigenetic studies. In addition, in April 2021, Biodesix, Inc. declared its plan to launch a blood-based 52-gene NGS test to enhance its portfolio of molecular testing.
• For a better understanding of the market adoption of the Sanger Sequencing Service industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held a dominant share in the market in 2021 owing to increased adoption of cancer therapy and rise in the incidence of cancer in U.S. According to the Globocan 2020 report, an estimated 2,281,658 new cancer cases were diagnosed in the U..S in 2020, with nearly 612,390 deaths. Apart from this, the presence of major key players, rising investments by pharmaceutical companies, and favorable government regulatory policies are also propelling regional market growth. For instance, in December 2022, U.S. FDA granted approval to Agilent Technologies Inc.’s Agilent Resolution ctDx FIRST as a companion diagnostic (CDx) to identify advanced non-small cell lung cancer (NSCLC) patients with KRAS G12C mutations who may benefit from treatment with Krazatitm (adagrasib).
• Some of the major players operating in the market include Myriad Genetics Inc, Exact Sciences Corporation, Biocartis, Sysmex Corporation, Thermo Fisher Scientific Inc, Agilent Technologies Inc, Biocept Inc, MDx Health, Illumina Inc, and QIAGEN.