The United States Liquid Biopsy Market generated revenue of US$ 3,405.8 million in 2022 and is projected to generate US$ 10,798 million revenue by 2031, growing at a CAGR of 13.68% during the forecast period from 2023 to 2031.
The United States liquid biopsy market is witnessing a remarkable three times growth during the forecast period. In the United States, liquid biopsy techniques are less invasive and economical. Therefore, they are a well-liked substitute for cancer diagnosis among Americans. In line with this, the multi-gene parallel analysis technology accounted for 74% of the market revenue share. This is due to the fact that it is currently one method that is superior for clinical application in the field of liquid biopsies.
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According to our survey on consumer analysis, breast cancer is highly prevalent and leads to high healthcare costs. According to the National Cancer Institute, Breast, lung, bronchus, prostate, and colorectal cancer account for over 50% of all new cases of cancer in the US. It has been estimated that by 2035, the United States will spend between 3.6 and 7.6 trillion dollars on patients with breast cancer. Thus, to reduce the cost, hospitals can use liquid biopsy and tissue testing as together they identify actionable alterations in more patients. In addition, the use of the LB + TT strategy resulted in an incremental cost savings of US$ 2,249 per patient. This approach will also offer the potential for manufacturers to create advanced treatment options.
Trends to Watch: Artificial Intelligence in Liquid Biopsy
Artificial intelligence has recently made it easier to innovate in the areas of medication discovery, development, and validation. Apart from this, for biomarkers, AI has the potential for disease diagnosis and therapy prognosis in clinical settings. According to recent research by Asture Analytica, the usage of AI in liquid biopsy analysis has grown at an impressive rate of roughly 28% yearly during the last five years.
Over the past ten years, there has been an impressive increase in the amount of biological and clinical data due to the rising use of automated and high-throughput technologies. The number of tests performed annually increased by 20% as liquid biopsies became more widely accepted and fully integrated into clinical practice. As a result, Artificial intelligence-based computing algorithms are being devised and improved upon to handle the enormous amount of data generated every day.
A 2022 study by the University of California showed that an AI-powered computer could evaluate liquid biopsy data in just 30 minutes. Furthermore, a 2022 study that appeared in the journal “Cancer Research” demonstrated that an AI algorithm could accurately identify specific cancer mutations from liquid biopsy data with a 95% accuracy rate. This accuracy significantly outperforms the 85% attained by traditional data analysis methods.
As a result, a growing number of market end users are utilizing this technology since it majorly accelerates data analysis, which will spur market expansion.
Blood Samples Contribute About 69% of Market Revenue Share: Making it a Primary Source of Sample Collection
The most common option for liquid biopsy in 2022, the blood sample category, accounted for more than 69% of the market’s revenue. During the forecast period, the blood sample market is anticipated to grow at a CAGR of 14.10%. Blood samples are favored because they are simple and painless to obtain, making them a practical and patient-friendly option.
Each year in the United States, more than 1.7 million people are diagnosed with cancer. This increases the demand for blood sampling to diagnose the cancer level. The volume of testing is enormous, with an estimated 4–5 billion tests performed in the United States each year. In line with this, every year U.S. spends more than 26 billion on diagnostic tests most of the revenue comes from blood samples. This spending and volume demonstrate that manufacturers have a lot of potential in blood sample collection methods, such as home-based blood sample kits.
For instance, in October 2023, Delfi Diagnostics is introducing its inaugural liquid biopsy test, which aims to offer a novel blood-based screening tool for lung cancer. This test seeks to provide a more convenient and accessible method of detection compared to the current standard, thereby reaching a larger population of individuals. Thus, such an initiative will improve prominent players’ market value and stand them out from other key players.
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List of Prominent Players
- Biocept, Inc.
- Illumina, Inc.
- Myriad Genetics, Inc.
- QIAGEN
- Thermo Fisher Scientific, Inc.
- Guardant Health
- F. Hoffmann-La Roche Ltd
- ANGLE plc
- BIODESIX
- NeoGenomics Laboratories, Inc.
- Other major players
Segmentation Outline
The United States liquid biopsy market segmentation focuses on Technology, Products, and Biomarkers.
By Technology
- Multi Gene Parallel Analysis (NGS)
- Single Gene Analysis (PCR Microarrays)
By Product
- Blood Sample Based
- Others
By Biomarker
- Circulating Nucleic Acids
- CTC
- Exosomes/Microvesicles
- Circulating Proteins
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