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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).
Market Summary:
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