The latest report by IMARC Group, titled “Liquid Biopsy Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global liquid biopsy market reached US$ 1.49 Billion in 2021. Liquid biopsy is a test enabling the diagnosis of cancer cells from a tumor circulating in the blood. It is a non-invasive alternative to surgical biopsy that is efficient and faster. It can detect epidermal growth factor receptor (EGFR) gene mutations with non-small cell lung cancer (NSCLC), which helps medical professionals to choose a suitable treatment for patients. In addition, it assists in identifying key genetic changes that aid in diagnosing, treating, and monitoring periods of relapse and remission in patients.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Liquid Biopsy Market Trends:
The growing utilization of liquid biopsy for screening early cancer, monitoring tumor progression, assessing therapeutic response and clinical prognosis, and detecting recurrent and refractory tumors represents one of the key factors driving the market. Besides this, there is a rise in the number of cancer patients due to excessive tobacco consumption and the sedentary lifestyles of individuals across the globe. This, along with increasing advancements in liquid biopsy, such as next-generation sequencing for advanced cancer patients, is contributing to the growth of the market. In addition, the rising patient preference for minimally invasive therapies due to lesser tissue damage, fewer complications, and minimal pain and scarring is propelling the growth of the market. Moreover, governments of several countries are focusing on promoting awareness of cancer. This, coupled with the burgeoning healthcare industry, is bolstering the growth of the market. Looking forward, IMARC Group expects the market to reach US$ 3.7 Billion by 2027, exhibiting a CAGR of 15.70% during the forecast period (2022-2027).
- Based on the product and service, the market has been classified into kits and reagents, platforms and instruments, and services. Presently, kits and reagents hold the largest market share.
- On the basis of the circulating biomarker, the market has been bifurcated into circulating tumor cells, extracellular vesicles, circulating tumor DNA, and others. Amongst these, circulating tumor cells dominate the market.
- Based on the cancer type, the market has been segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, liver cancer, and others. At present, lung cancer exhibits a clear dominance in the market.
- On the basis of end user, the market has been categorized into hospitals and laboratories, academic and research centers, and others. Liquid biopsy finds extensive application in hospitals and laboratories across the globe.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Currently, North America enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report, with some of the key players being ANGLE plc, Biocept Inc., Bio-Rad Laboratories Inc, Epigenomics AG, Exact Sciences Corporation, F.Hoffmann-La Roche AG, Guardant Health Inc., Illumina Inc., MDxHealth SA, Menarini Silicon Biosystems, QIAGEN N.V., Thermo Fisher Scientific Inc.
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