Northbrook, IL 60062 -- (SBWIRE) -- 05/18/2023 -- Liquid Biopsy Market in terms of revenue was estimated to be worth $4.3 billion in 2022 and is poised to reach $10.0 billion by 2027, growing at a CAGR of 18.3% from 2022 to 2027. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Market is driven by the rising incidence and prevalence of cancer and the increasing preference for non-invasive treatment procedures.

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The increasing prevalence of cancer coupled with the rise in demand for fast, minimally invasive diagnostic tests drives the market growth. Rapid development in digital Polymerase Chain Reaction (PCR) and NGS-based technology has improved the accuracy of liquid biopsy. It can be performed repeatedly for disease monitoring and is anticipated to help overcome the limitations of tissue biopsies.

Driver: Cancer awareness initiatives undertaken by global health organizations

In the past decade, governments in various countries and global health organizations have undertaken several initiatives to spread awareness about cancer. For instance, the WHO's National Cancer Control program is a public health program that aims to reduce the number of cancer deaths and improve the quality of life of cancer patients. Similarly, the National Breast and Cervical Cancer Early Detection Program (NBCCEDP), initiated by the US Centers for Diseases and Prevention (CDC) in 1991, provides breast cancer screening and diagnosis for uninsured and low-income patients in the US every year. In 2020, this program provided breast cancer screening and diagnostic services to 260,143 women. This program also provided cervical cancer screening and diagnostic services to 116,562 women in the same year.

Restraint: The lower sensitivity of certain liquid biopsies

Detecting ctDNA in liquid biopsies is technically challenging because the levels of ctDNA of any given cancer mutation may be very low in the plasma of a cancer patient, especially after treatment or surgery. ctDNA is not necessarily applicable to all cancers; some tumor types are bad ctDNA shedders (e.g., gliomas and sarcomas), which acts as an obstacle for ctDNA profiling. The reason for low ctDNA levels is unclear but is thought to be associated with tumor vascularity, location (e.g., bone lesions), or the blood-brain barrier.

Opportunity: Growth opportunities in emerging countries

Developing economies such as India, China, South Korea, Brazil, Turkey, Russia, and South Africa are expected to offer potential growth opportunities for major players operating in the liquid biopsy market. This can be attributed to the higher cancer prevalence, large patient population, improving healthcare infrastructure, increasing disposable income, and growing medical tourism in these countries. In addition to the factors mentioned above, the Asia Pacific region has emerged as an adaptive and business-friendly hub due to relatively less stringent regulations and data requirements.
The assay kits segment accounted for the largest share of the liquid biopsy market, by product & service segment, in 2021

Based on product & service, the liquid biopsy market is segmented into assay kits, instruments, and services. The large share of the assay kits segment can be attributed to the recurrent requirement and large purchases of assay kits among end users.

Circulating tumor DNA (ctDNA) segment to register the highest growth rate during the forecast period
The liquid biopsy market is segmented into circulating tumor cells, circulating tumor DNA (ctDNA), cell-free DNA (cfDNA), extracellular vesicles (EVS), and other circulating biomarkers. Studies found that the screening of genetic mutations using ctDNA is highly sensitive and specific, suggesting that ctDNA analysis may significantly improve tumor diagnosis, even facilitating early-stage detection. The superiority of ctDNA to previous plasma biomarkers in sensitivity and clinical correlations is a major factor driving its growth.

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The blood sample accounted for the largest share of the liquid biopsy, by sample type segment, in 2021
Based on sample type, the liquid biopsy market is segmented into blood and other sample types. In 2021, the blood samples accounted for the largest share of the liquid biopsy market. The large share of this segment can be attributed to factors such as the convenient, inexpensive, safe, and minimally invasive nature of this sample type.

North America is the largest regional market for liquid biopsy market
The global liquid biopsy market has been segmented into four major regions—North America, Europe, the Asia Pacific, and the Rest of the World. In 2021, North America accounted for the largest share of the liquid biopsy market. Easy accessibility and high adoption of advanced diagnostic technologies among healthcare professionals and the increasing prevalence of cancer in the US and Canada are the key factors driving the growth of the liquid biopsy market in North America.

Key Market Player:

The major players operating in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Myriad Genetics, Inc. (US), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific, Inc. (US), Guardant Health, Inc. (US), MDxHealth SA (Belgium), Exact Sciences Corporation (US), Illumina Inc. (US), Sysmex Inostics (US), Bio-Rad Laboratories, Inc. (US), Biocept, Inc. (US), NeoGenomics, Inc. (US), ANGLE plc (UK), Menarini-Silicon Biosystems (Italy), Vortex Biosciences, Inc. (US), Exosome Diagnostics, Inc. (US), Agena Bioscience, Inc. (US), MedGenome Inc. (US), Epigenomics AG (Germany), and Personal Genome Diagnostics, Inc. (US).

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