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Global Liquid Biopsy Market Size Worth USD 4300.5 Million By 2026, Says Market Data Forecast

August 23rd, 2021 Market Data Forecast Releases

Global Liquid Biopsy Market Size & CAGR (2021 to 2026)

As per our report, the global liquid biopsy market size was valued at USD 1449 million for 2021 and is poised to reach USD 4300.5 million by the end of 2026, growing at a 24.3 % CAGR during the forecast period.

Impact of COVID-19 on the global liquid biopsy market:

The COVID-19 pandemic has a huge influence on worldwide financial demand, affecting nearly all industries and putting the medical care business at the forefront. Many researchers are developing non-invasive liquid biopsy assays for fast Covid-19 virus testing as the number of cases grows. Similarly, numerous studies have indicated that those who already have an illness have a higher risk of contracting coronavirus. As a result, there is a significant need for cancer diagnosis, which drives demand for liquid biopsy. Cornell University researchers, for example, are working on a “liquid biopsy” that may identify and quantify coronavirus illness damage to interior organs (COVID-19). In addition, a study published in The Lancet Oncology in the United Kingdom highlighted the consequences of delayed diagnosis associated with Covid-19 pandemic management, concluding that one and five-year cancer survival will be significantly reduced.

In these situations, liquid biopsy is a viable alternative to standard screening programs since it helps to prevent incidents and concerns from leading to dangerously delayed diagnosis. In addition, several market participants are taking steps to address this issue with their strategies. The Colorado Center for Personalized Medicine (CCPM) has recently collaborated with Molecular Diagnostics to develop and market saliva-based liquid biopsy diagnostics for head and neck cancer, COVID-19, and other viral illnesses. Many studies are currently being conducted in order to develop the COVID-19 liquid biopsy testing. Hence, liquid biopsy has a future that is coupled with COVID-19 cases.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/liquid-biopsy-market

KEY DRIVING FACTORS:

The rising prevalence of cancer accelerates the liquid biopsy market growth.

Instead of a segment of cancer tissue, liquid biopsy allows for the detection, analysis, and monitoring of cancer in various bodily effluents such as blood or urine. It can likewise be utilized to help in taking care of improvement, just as to control how well therapy is functioning and regardless of whether malignancy has returned. According to the World Health Organization, cancer is the biggest cause of death globally, with over 10 million deaths expected by 2020. In 2020, 2.26 million instances of breast cancer, 2.21 million cases of lung cancer, and 1.41 million cases of prostate cancer were reported. As a result, liquid biopsy is in great demand across the world.

Advancement in next-generation sequencing in liquid biopsy further accelerates market growth.

The accuracy and affordability of liquid biopsy have improved in recent years due to better next-generation sequencing (NGS) technology. The circulating tumor DNA was sequenced using next-generation sequencing in liquid biopsy (ctDNA). Circulating tumor DNA (ctDNA) is a liquid biopsy biomarker that gives information about the tumor’s genetic changes and has shown tremendous potential in therapeutic trials. There are also many advancements that have been approved by the USFDA, such as the first liquid biopsy companion diagnostic that also uses next-generation sequencing (NGS) technology to identify patients with specific types of epidermal growth factor receptor (EGFR) gene mutations in a deadly form of metastatic non-small cell lung cancer (NSCLC). These advancements mark a significant turning point in market development.

RESTRAINING FACTORS:

The liquid biopsy market’s expansion is hampered by a lack of standardization. The first histologic diagnosis, which is done by tissue biopsy, is required for liquid biopsy. More evidence of the test’s clinical usefulness is required. Furthermore, the small-scale enterprises are hampered by a lack of trained personnel to manage the systems.

Avail a copy of the sample market brochure of the report @ https://www.marketdataforecast.com/market-reports/liquid-biopsy-market/request-sample

KEY MARKET INSIGHTS:

  1. Based on cancer type, the lung cancer segment dominated the liquid biopsy market. The demand is rising as people become more aware of the availability of and the increasing incidence of cancer diagnoses.
  2. Based on the diagnostic approach, the Circulating Tumor Cells (CTC) segment holds the largest share. Early diagnosis, prognosis, treatment target selection, and tracking therapy response are all made easier using Circulating Tumor Cells (CTC).
  3. Based on sample type, the blood sample type segment is poised to expand the liquid biopsy market—patients’ awareness towards early diagnosis escalating the growth.
  4. Based on end-user, the laboratories segment is the largest market share segment. There are still certain aspects of liquid biopsy that need to be found.
  5. Geographically, North America dominates the global liquid biopsy market. The presence of large key players and wider adoption of novel liquid-biopsy tests fuel the regional growth.
  6. The prominent players in the liquid biopsy market include F. Hoffmann-La Roche Ltd., Biocept Inc., Illumina, Inc., Qiagen N.V, Janssen diagnostics, Guardant Health, SRI International, Exosome Sciences, and others. Olympus Corporation. These industry players are concentrating on pursuing tactics to broaden their product range. These payers are working on product launches, partnerships, and acquisitions to gain market share.

The report can be customized as per requirements; talk to our analyst team @ https://www.marketdataforecast.com/market-reports/liquid-biopsy-market/customization

Recent Market Developments:

  • In May 2021, NeoGenomics has acquired UK-based commercial-stage liquid biopsy platform company Inivata.
  • In April 2021, Biodesix has launched a liquid biopsy next-generation sequencing test.
  • In March 2021, Lucence, a precision oncology startup, has announced a collaboration with Japan’s Waseda University to create a new high-speed liquid biopsy laser-based imaging technology for early cancer diagnosis.

SEGMENTS IN THE REPORT:

By Cancer Type:

  • Lung Cancer
  • Pancreatic Cancer
  • Leukemia
  • Other Visceral Cancers

By Diagnostic Approach:

  • Circulating Tumour cells (CTC)
  • Circulating Tumour DNA (ctDNA)
  • RNA in exosomes
  • Extra-Cellular Vesicles

By End-Users:

  • Reference Laboratories
  • Hospital/Physician Laboratories
  • Academic and Research Centers
  • Other End Users

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

KEY MARKET LEADERS PROFILED IN THIS REPORT:

  1. Janssen Diagnostics
  2. Qiagen
  3. Rarecells SAS
  4. Silicon Biosystems
  5. SRI International
  6. Myriad Genetics
  7. Natera
  8. Personal Genome Diagnostics
  9. Sysmex Inostics
  10. Trovagene
  11. Exosome Diagnostics
  12. Exosome Sciences
  13. HansaBiomed OU

BROWSE REGIONAL REPORTS:

  • North America Liquid Biopsy Market
  • Europe Liquid Biopsy Market
  • APAC Liquid Biopsy Market
  • Latin America Liquid Biopsy Market
  • MEA Liquid Biopsy Market

About MarketDataForecast:

Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.

Contact Us:

Market Data Forecast
Phone: +1-888-702-9626
Email: contact@marketdataforecast.com

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