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HEALTHCARE & PHARMACEUTICAL

Liquid Biopsy Market Segmentation by Type of Biomarker {Extracellular Vesicles (EVs or Exosomes), Circulating Tumor DNA}; by Application {Cancer Therapeutics (Lung, Breast, Colorectal, and Others), Reproductive Health, and Others}; by Sample Collection Type; by Product Type (Assay Kits, and Instruments); by Technology (Singe Gene Analysis, and Massively Parallel Sequencing Analysis); and by End-User (Academic & Research Centers, and Others) – Global Demand Analysis & Opportunity Outlook 2029

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Extensive insights into the Growth of Liquid Biopsy Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Liquid Biopsy Market Highlights 2020-2029

The global liquid biopsy market is anticipated to grow with a significant CAGR during the forecast period, i.e., 2021-2029. Factors such as the growing prevalence of cancer and the need for early detection, diagnosis and screening of cancer in patients are anticipated to drive the market growth throughout the forecast period.

Introduction to Liquid Biopsy

Liquid biopsy serves the purpose of analyzing non-solid biological tissue. It is largely a non-invasive and simple alternative of conventional surgical biopsies that enable medical professionals to detect cancer causing tumors. Also known as fluid phase biopsy or fluid biopsy, the technique differs largely from tissue biopsy in terms of sample collection, repetitive use of sample, risks involved, and others.

Difference between Liquid Biopsy and Tissue Biopsy

Market Size and Forecast

The global liquid biopsy market is thriving on account of the growing preference among the healthcare practitioners for the analytical technique in replacement of tissue biopsy, along with the rising awareness about minimally invasive procedures and the numerous advantages of the technique over the conventional tumor biopsy. Liquid biopsy is a fast-emerging substitute for conventional tumor biopsies. The technique helps medical practitioners to acquire the most amount of molecular information about cancer with the least amount of surgical invasion. The market is segmented by end-user into academic & research centers, hospitals & laboratories, and others. Among these segments, the hospitals & laboratories segment is projected to hold the largest market share by the end of 2021. The growth of the segment can be attributed to the large volume of tests being done in external and in-house hospital laboratories upon the reference from the oncologists. CLICK TO DOWNLOAD SAMPLE REPORT

Liquid Biopsy Market Share, Segmentation by End-User

Growth Drivers

Growing Need Amongst Individuals for the Early Screening of Cancer

According to the statistics by the World Health Organization (WHO), cancer is the second leading cause of death. Further, the statistics also stated in the year 2018 around 9.6 million deaths were registered due to cancer.

Total Number of Cases of the Most Common Cancers Around the World

Backed by the growing prevalence of cancer cases globally, there is a rising need amongst individuals for the early detection and diagnosis of the disease. Cancer can be life threating and hence the disease require utmost care and attention. There are various methods of detecting cancer, but the rising preference of the health practitioners for the rapid, precise, and minimally invasive or non-invasive methods of sample collection, is raising the need for the adoption of liquid biopsy procedures. Moreover, with the rapidly improving clinical advancements, the United States Food and Drug Administration (FDA), had approved the FoundationOne Liquid CDx blood-based liquid biopsy next-generation sequencing (NGS) test to Foundation Medicine, Inc. on the 26th of October and 6th of November 2020. Real-time liquid biopsy procedures are widely undertaken by medical practitioners as the process allows to understand specifically what kind of molecular changes are happening in the tumor in real-time. Such factors are anticipated to drive the market growth in the coming years.

Challenges

Low Specificity and Sensitivity of Liquid Biopsy to Hamper the Market Growth

One of the major concerns associated with liquid biopsy procedure is the achievement of the desired specificity and sensitivity. With advancement in technology, the analysis of CTCs and ctDNA are widely possible, but the detection of cancer biomarkers by using advanced technologies, such as droplet digital PCR (ddPCR) with sensitivity of ~100% is only possible when there are at least more than four metastatic sites, otherwise an achievement of 60%-80% sensitivity is only possible if there are less than four metastatic sites. As a result, physicians and laboratory personnel cannot rely totally on the process and hence prefer for tissue biopsy in addition to liquid biopsy process. Such a factor is anticipated to lower the market growth during the forecast period.

Market Segmentation

Our in-depth analysis of the global liquid biopsy market includes the following segments:

By Type of Biomarker

  • Circulating Tumor Cells (CTCs)
  • Extracellular Vesicles (EVs or Exosomes)
  • Circulating Tumor DNA (ctDNA)
  • Others

By Application

  • Cancer Therapeutics
    • Lung
    • Breast
    • Colorectal
    • Prostate
    • Liver
    • Others
  • Reproductive Health
  • Others

By Sample Collection Type

  • Blood
  • Urine
  • Others

By Product Type

  • Assay Kits
  • Instruments

By Technology

  • Singe Gene Analysis
  • Massively Parallel Sequencing Analysis

By End-User

  • Academic & Research Centers
  • Hospitals & Laboratories
  • Others

By Region

On the basis of regional analysis, the global liquid biopsy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions. Among these regions, the market in North America is anticipated to hold the largest market share by the end of 2021. The growth of the market in the region can be attributed to the growing research and development by several manufacturers and research laboratories for the advancements in the analytical techniques of cancer, along with the rising incidence of cancer in the region and the growing healthcare infrastructure in the region.

The global liquid biopsy market is further classified on the basis of region as follows:

  • North America (US, Mexico and Canada) Market size, Y-O-Y growth and Opportunity analysis.
  • Europe (Germany, France, Italy, Belgium, Spain, UK, Russia, Netherlands and Other parts of Europe) Market size, Y-O-Y growth and Opportunity analysis.
  • Asia Pacific (Japan, India, China, Malaysia, Australia, Indonesia, Thailand and rest of Asia Pacific) Market size, Y-O-Y growth and Opportunity analysis.
  • Latin America (Argentina, Brazil and rest of Latin America) Market size, Y-O-Y growth and Opportunity analysis.
  • Middle East & Africa (Saudi Arabia, Egypt, United Arab Emirates and South Africa) Market size, Y-O-Y growth and Opportunity analysis.

Top Key Players Dominating the Market

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