NEW
YORK, July 10, 2024 /PRNewswire/ -- The global
liquid biopsy market size is estimated to grow by USD 3.69 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
almost 25.2% during the forecast period. Liquid
biopsy techniques offer significant advantages over traditional
biopsy methods in terms of accuracy and patient outcomes. Unlike
traditional biopsies that often require invasive procedures, liquid
biopsies use minimally invasive methods such as blood draws to
detect circulating tumor DNA, RNA, or proteins shed by tumors into
the bloodstream. This approach allows for earlier detection of
cancer recurrence, monitoring treatment response, and identifying
genetic mutations. Despite challenges such as limited
reimbursement, the market for liquid biopsy is propelled by
increasing cancer incidence and substantial investments in
technology and research by key players like A. Menarini, Guardant
Health, and Roche.
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Liquid Biopsy Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
25.2%
|
Market growth
2024-2028
|
USD 3696.4
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
19.78
|
Regional
analysis
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Performing market
contribution
|
North America at
55%
|
Key
countries
|
US, Canada, Germany,
UK, and Japan
|
Key companies
profiled
|
A. Menarini Industrie
Farmaceutiche Riunite Srl, ANGLE Plc, Bio Rad Laboratories Inc.,
Bio Techne Corp., Biocept Inc., Biodesix Inc., CellMax Inc.,
CIRCULOGENE, Exact Sciences Corp., F. Hoffmann La Roche Ltd.,
Guardant Health Inc., Illumina Inc., Inivata Ltd., MDXHEALTH SA,
Mesa Laboratories Inc., Myriad Genetics Inc., Novogene Co. Ltd.,
OncoCyte Corp., QIAGEN NV, and SAGA Diagnostics AB
|
Market Driver
Liquid biopsy has gained significant attention in recent years
as a valuable research tool and advanced diagnostics technology.
This trend has attracted investors to fund the research and
development of new liquid biopsy technologies and the production
and commercialization of related products. Notable companies,
including GRAIL, Guardant Health, Exosome Diagnostics, Pathway
Genomics, and Inivata, have secured funding from various investors.
For instance, Dxcover raised USD14.34
million in Series A and grant financing in February 2023. This funding will support the
advancement of Dxcover's liquid biopsy platform for the detection
of early-stage cancers, such as brain and colorectal cancers. These
investments are anticipated to fuel the expansion of the global
liquid biopsy market throughout the forecast period.
The Liquid Biopsy Market is experiencing significant growth due
to the increasing demand for minimally invasive cancer diagnostic
solutions. Companies like DiaCarta, Singlera Genomics, Sysmex
Inostics, Helio Genomics, Foundation Medicine, Merck KgaA, Naveris,
Grail, MiRXES, Epic sciences, Lucence Health, Amoy Diagnostics,
Biocartis, Cell Search, Datar Cancer Genetics, Exosome Diagnostics,
GeneCast Biotechnology, Integrated DNA Technologies, Lucence, MDNA
Life Sciences, Miltenyi Biotec, NeoGenomics, ONCODE Scientific,
Personal Genome Diagnostics, Predicine, ScreenCell, and NIH are
leading the charge. The market is driven by factors such as cancer
awareness initiatives, rising cancer deaths, and the need for
better quality of life. CtDNA in plasma is the key biomarker used
in Liquid Biopsy for early cancer diagnosis and monitoring
treatment response. The Injection pen market is also expected to
grow as these devices are becoming the preferred method for
administering the tests. Buying behavior is influenced by cancer
patient needs for accurate and timely diagnosis, as well as the
potential for personalized treatment options, including
surgery.
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Market Challenges
• The liquid
biopsy market is currently experiencing limited adoption due to
restricted reimbursement and awareness in both developed and
developing countries. In developed nations, reimbursement coverage
for liquid biopsy tests varies, with some countries offering low
coverage or none at all. In contrast, in developing countries like
China and India, tissue biopsies remain the preferred
method, necessitating efforts from companies and laboratories to
promote liquid biopsy's benefits. The lack of reimbursement and
awareness can hinder market growth, with Medicare, the primary
insurer in the US, influencing private insurers' coverage
decisions. Revisions to Medicare coverage and reimbursement rates
occur annually and geographically, making predictability
challenging. Third-party payers face difficulties in determining
coverage and reimbursement rates due to the absence of automatic
reimbursement for liquid biopsy tests. To secure inclusion in
treatment guidelines, liquid biopsy tests must demonstrate medical
necessity, improved clinical outcomes, and not just biomarker
detection. The global liquid biopsy market has been impacted by
stagnant or decreasing reimbursement rates, making unfavorable
reimbursement a significant hindrance to market growth during the
forecast period.
• The Liquid
Biopsy Market faces several challenges in expanding its reach,
particularly in identifying and targeting various tumor types like
Gliomas and Sarcomas. Tumor vascularity and location pose
difficulties in obtaining adequate samples. The Blood-Brain Barrier
and developing economies also present challenges due to limited
patient populations and cancer prevalence. Medical tourism and data
requirements add complexity to the market landscape. Limited
reimbursement and the prevalence of panel-based tests hinder the
adoption of advanced NGS-panel tests and LDT scenario. Assay kits,
cancer tumor cells, and tumor DNA require cost-effective solutions
for wider accessibility. Monitoring patients, prevalence of cancer,
and liquid biopsy products offer opportunities for customized
therapies and emerging technologies. Reference laboratories,
private laboratories, hospitals, and private practitioners are key
players in the market. NABL-accredited diagnostic tests are
essential in developed markets, while funding and investments from
public and private organizations are crucial for market growth.
Patient stratification based on SEER statistics and the discovery
of novel cancer biomarkers through Guardant Health and other
advanced technologies will drive the market forward.
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Segment Overview
This liquid biopsy market report extensively covers market
segmentation by
- Application
- 1.1 Cancer applications
- 1.2 Non-cancer applications
- Technology
- 2.1 CTC and ctDNA
- 2.2 Exosome and RNA
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Cancer applications- The Liquid Biopsy Market
refers to the diagnostic industry segment that utilizes liquid
samples, such as blood or urine, to identify genetic information
from cancer cells. This non-invasive approach offers several
advantages, including early detection, real-time monitoring, and
minimal patient discomfort. Companies like Qiagen, Guardant Health,
and F. Hoffmann-La Roche are key players in this market, investing
in research and development to improve accuracy and accessibility.
The global Liquid Biopsy Market is expected to grow significantly
due to its potential to revolutionize cancer diagnosis and
treatment.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Liquid Biopsy Market is experiencing significant growth due
to the increasing prevalence of cancer and the advancements in
biomarker discovery. Liquid biopsies offer a non-invasive
alternative to traditional biopsies, making them an attractive
option for patients. The injection pen market is also expected to
grow in tandem with the liquid biopsy market, as these devices
simplify the sample collection process. Cancer awareness
initiatives and advancements in cancer research have led to an
increase in the number of cancer diagnoses and subsequent demand
for liquid biopsies. According to SEER statistics, there were
approximately 1.9 million new cancer cases in the US in 2020.
Liquid biopsies offer improved quality of life for patients by
enabling early detection and personalized treatment plans.
Companies such as Guardant Health, DiaCarta, Singlera Genomics,
Sysmex Inostics, Helio Genomics, Foundation Medicine, Merck KgaA,
Naveris, Grail, Lucence, MDNA Life Sciences, Miltenyi Biotec,
NeoGenomics, ONCODE Scientific, Personal Genome Diagnostics,
Predicine, and ScreenCell are leading the way in liquid biopsy
technology development. Despite the promising advancements, buying
behavior for liquid biopsies is influenced by factors such as cost,
insurance coverage, and patient preferences. Cancer deaths continue
to be a significant global health concern, making the development
and adoption of liquid biopsy technology crucial for improving
patient outcomes.
Market Research Overview
Liquid biopsy, a revolutionary diagnostic technique, analyzes
cancer biomarkers in various biofluids, primarily blood, for early
detection and monitoring of cancer. Biomarkers such as circulating
tumor DNA (ctDNA) and exosomes are identified from plasma,
providing valuable information on tumor types, tumor vascularity,
and cancer signatures. This minimally invasive procedure is gaining
popularity due to its cost-effectiveness and ability to monitor
patients in real-time. Cancer awareness initiatives, breast and
cervical cancer screening, and advancements in NGS technologies are
driving the growth of the liquid biopsy market. However, factors
such as limited reimbursement, data requirements, and the LDT
scenario pose challenges. Developing economies, with increasing
cancer prevalence and patient population, offer significant
opportunities. Reference laboratories, private laboratories,
hospitals, and private practitioners are key players in the market.
NABL-accredited diagnostic tests and emerging technologies,
including NGS-panel tests and single-cell analysis, are
transforming the landscape. Funding and investments from public and
private organizations are fueling innovation and patient
stratification. Cancer types, such as breast, cervical, gliomas,
and sarcomas, are under focus for liquid biopsy-based diagnosis and
customized therapies. The market is expected to grow significantly,
driven by the prevalence of cancer, the need for minimally invasive
procedures, and the potential for customized therapies. According
to SEER statistics, cancer deaths continue to rise, underscoring
the need for early and accurate diagnosis. Liquid biopsy products
are poised to play a crucial role in improving quality of life and
reducing cancer mortality. However, challenges such as the
blood-brain barrier and the need for assay kits and sample
preparation remain to be addressed. Injection pen markets are also
expected to benefit from the growing liquid biopsy market, as they
offer a convenient and cost-effective solution for sample
collection and preparation. The market for liquid biopsy is
expected to grow significantly, driven by the increasing prevalence
of cancer, the need for minimally invasive procedures, and the
potential for customized therapies. Cancer tumor cells and tumor
DNA are the primary targets for liquid biopsy analysis, providing
valuable information on tumor types, tumor vascularity, and cancer
signatures. The market for liquid biopsy is expected to grow
significantly, driven by the increasing prevalence of cancer, the
need for minimally invasive procedures, and the potential for
customized therapies. The injection pen market is expected to
benefit from the growing liquid biopsy market, as they offer a
convenient and cost-effective solution for sample collection and
preparation. The market for liquid biopsy is expected to grow
significantly, driven by the increasing prevalence of cancer, the
need for minimally invasive procedures, and the potential for
customized therapies. Buying behavior for liquid biopsy tests is
influenced by factors such as cancer awareness initiatives, patient
demographics, and healthcare policies. In developed markets,
advanced technologies and NGS are driving the growth of the market,
while in developing economies, cost-effectiveness and accessibility
are key factors. Medical tourism is also expected to play a role in
the growth of the liquid biopsy market, as patients from developing
economies seek affordable and high-quality diagnostic services in
developed markets. The market for liquid biopsy is expected to grow
significantly, driven by the increasing prevalence of cancer, the
need for minimally invasive procedures, and the potential for
customized therapies. In conclusion, the liquid biopsy market is
poised for significant growth, driven by the increasing prevalence
of cancer, the need for minimally invasive procedures, and the
potential for customized therapies. Challenges such as limited
reimbursement, data requirements, and the LDT scenario remain to be
addressed, but the potential benefits of early and accurate
diagnosis, improved quality of life, and cost-effective monitoring
make liquid biopsy a promising area for innovation and
investment.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Cancer Applications
- Non-cancer Applications
- Technology
-
- CTC And CtDNA
- Exosome And RNA
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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