Worldwide Liquid Biopsy Market Size was US$ 3 Billion in 2021
The liquid biopsy industry is experiencing growth due to an increased number of cancer patients, advancements such as next-generation sequencing for cancer patients in liquid biopsies, and improved patient preference for minimally invasive therapies. Besides, an upsurge in healthcare expenditure in developing countries, such as China and India, and liquid biopsy tests to treat rare cancers are anticipated to present ample opportunities for market growth. According to the publisher Analysis, Global Liquid Biopsy Market will grow with 18% CAGR from 2021 - 2027.
COVID-19 Impact on Growth Trends of Liquid Biopsy Industry
The coronavirus disease has spread globally. Consequently, governments have assessed several rules and lockdowns worldwide, owing to an expansion in the number of coronavirus patients, affecting the market growth in the initial phase of the forecast period. This has resulted in the break of earlier diagnosis programs. Further, there has been a decrease in visits, therapies, screenings, and surgeries related to cancer, resulting in an increase in cancer morbidity in 2020. The pandemic has also affected the logistics and supplies of cancer diagnostic components, raw materials, and other essential commodities utilized in the production of liquid biopsy. These aspects restrict the growth of the liquid biopsy market during the COVID-19.
European Liquid Biopsy Market is rising due to the high Cases of Cancer
Geographically, liquid biopsy market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and LAMEA. The European liquid biopsy market is rising due to the high incidence of cancer and increasing medical costs. Consequently, the region is anticipated to multiply concerning the development and use of liquid biopsy techniques. Nowadays, in Europe, research and development on cancer diagnosis focus on liquid biopsy. Market participants and research institutes conduct extensive clinical trials to develop a sensitive liquid biopsy platform.
Lung Cancer Liquid Biopsy & Circulating Tumor DNA is anticipated to Dominate
On the basis of cancer type, the liquid biopsy market is classified into Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, and Others. Lung cancer is anticipated to dominate the liquid biopsy market due to the increased prevalence of non-small cell lung cancer globally. For instance, as per the (WHO) World Health Organization, lung cancer is by far the highest cause of cancer death among female and male, estimated to have around 1.80 Million deaths worldwide in 2020.
Based on Circulating Biomarkers, the liquid biopsy industry includes Circulating Tumor cell (CTCs), Circulating Tumor DNA (ctDNA), Extracellular Vesicles (EVs), Other Biomarkers (cell-free DNA, etc.). In recent years, the circulating tumor cell segment has been increased due to the expanded number of clinically imperative tests with genomic analyses. Additionally, circulating tumor DNA is anticipated to be the fastest-growing segment during the forecast period, owing to the rapid development of (NGS) next-generation sequencing technologies in liquid biopsy advancements applied to circulating tumor DNA (ctDNA).
Competitive Landscape
The global liquid biopsy market is highly fragmented into players like Thermo Fisher Scientific, Inc, Guardant Health, Inc, EXACT Sciences Corp, Illumina Inc., Bio - Rad Laboratories, Biocept, NeoGenomics, Inc., Qiagen NV.
This report titled Liquid Biopsy Market Global Forecast by Regions (Europe, North America, Asia-Pacific Latin America, and Middle East/Africa),Cancer (Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer & Others), Product (Kits & Consumables, Instruments and Services), Sample (Plasma/Serum, Urine & Others), Circulating Biomarkers (Circulating Tumor DNA (ctDNA), Circulating Tumor Cells (CTCs) & Exosomes), Clinical Application (Monitoring, Theranostics, Prognosis & Screening), Companies (Thermo Fisher Scientific, Inc, Guardant Health, Inc, EXACT Sciences Corp, Illumina Inc., Bio - Rad Laboratories, Biocept, NeoGenomics, Inc., Qiagen NV) Provides comprehensive details about Liquid Biopsy Industry
Region - Market has been covered from 5 viewpoints
1. North America
2. Europe
3. Asia - Pacific
4. Latin America
5. Middle East & Africa
Cancer - Market has been covered from 5 viewpoints
1. Lung Cancer
2. Breast Cancer
3. Colorectal Cancer
4. Prostate Cancer
5. Others
Product - Market has been covered from 3 viewpoints
1. Kits & Consumables
2. Instruments
3. Services
Circulating Biomarkers - Market has been covered from 4 viewpoints
1. Circulating Tumor cell (CTCs)
2. Circulating Tumor DNA (ctDNA)
3. Extracellular Vesicles (EVs)
4. Other Biomarkers (cell free DNA, etc)
Clinical Application - Market has been covered from 4 viewpoints
1. Monitoring
2. Prognosis
3. Theranostics
4. Screening
Sample - Market has been covered from 3 viewpoints
1. Plasma / Serum
2. Urine
3. Others
All companies have been covered into 3 viewpoints
- Overviews
- Recent Developments
- Revenues
Company Analysis
1. Thermo Fisher Scientific, Inc
2. Guardant Health, Inc
3. EXACT Sciences Corp
4. Illumina Inc.
5. Bio - Rad Laboratories
6. Biocept
7. NeoGenomics, Inc.
8. Qiagen NV.
What is the estimated value of the Global Liquid Biopsy Market?
What is the growth rate of the Global Liquid Biopsy Market?
What is the forecasted size of the Global Liquid Biopsy Market?
Who are the key companies in the Global Liquid Biopsy Market?
Report Attribute | Details |
---|---|
No. of Pages | 170 |
Published | March 2022 |
Forecast Period | 2021 - 2027 |
Estimated Market Value ( USD | $ 3 Billion |
Forecasted Market Value ( USD | $ 8.1 Billion |
Compound Annual Growth Rate | 18.0% |
Regions Covered | Global |
No. of Companies Mentioned | 8 |
Table of Contents
Companies Mentioned
- Thermo Fisher Scientific, Inc
- Guardant Health, Inc
- EXACT Sciences Corp
- Illumina Inc.
- Bio – Rad Laboratories
- Biocept
- NeoGenomics, Inc.
- Qiagen NV.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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