Market Definition
The Liquid Biopsy market represents a groundbreaking advancement in medical diagnostics, offering a non-invasive method for detecting and monitoring various diseases and conditions through analysis of biomarkers in bodily fluids such as blood, urine, and saliva. Liquid biopsy technology enables healthcare providers to obtain valuable genetic and molecular information about tumors and other health conditions without the need for invasive procedures like traditional tissue biopsies. With its potential to revolutionize cancer screening, treatment selection, and disease monitoring, liquid biopsy is poised to transform the landscape of precision medicine.
Market Outlook
The Liquid Biopsy market is experiencing rapid growth, driven by the increasing demand for non-invasive and personalized diagnostic solutions in oncology and other disease areas. As healthcare providers and researchers recognize the limitations of traditional tissue biopsies and the potential of liquid biopsy to revolutionize disease detection and management, investment and adoption of liquid biopsy technology are on the rise.
One of the primary drivers of growth in the Liquid Biopsy market is the rising incidence and prevalence of cancer worldwide, coupled with the need for more accurate and less invasive methods for cancer detection and monitoring. Liquid biopsy offers a minimally invasive and real-time approach to detecting circulating tumor cells (CTCs), cell-free DNA (cfDNA), and other biomarkers present in bodily fluids, providing valuable insights into cancer progression, treatment response, and resistance mechanisms.
Moreover, the expanding applications of liquid biopsy beyond oncology, including prenatal testing, infectious disease monitoring, and organ transplant surveillance, are driving market expansion and innovation. Liquid biopsy technology has the potential to revolutionize diagnostics across a wide range of disease areas, offering personalized and actionable insights into patient health and treatment options.
Furthermore, the increasing adoption of liquid biopsy technology by healthcare providers, pharmaceutical companies, and research institutions is driving investment in research and development, as well as commercialization efforts to bring liquid biopsy tests to market. With advancements in sequencing technology, bioinformatics, and biomarker discovery, liquid biopsy is poised to become a cornerstone of precision medicine and personalized healthcare in the coming years.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The report analyses the global liquid biopsy market based on the product & service, circulating biomarker, cancer type, and region.
Global Liquid Biopsy Market by Product & Service
Based on the product & services, it is segmented into kits & reagents, platforms & instruments, and services. The platforms & instruments segment is anticipated to dominate the market during the forecast period. Due to a significant amount of ongoing platform and instrument development, research, and approvals in 2020. A high-performance, exome-scale tumor-profiling tool called NeXT Liquid Biopsy, for instance, was introduced by Personalist, Inc. in 20202020. It makes use of blood samples from patients with advanced-stage solid tumor malignancy. Additionally, Guardant Health, Inc. is creating brand-new precision oncology drugs using its massive clinical-genomic liquid biopsy dataset for patients with advanced cancer and its Guardant INFORM platform.
Global Liquid Biopsy Market by Circulating Biomarker
Based on the circulating biomarker, it is segmented into circulating tumor cells, extracellular vesicles, circulating tumor DNA, and others. The circulating tumor cells segment is anticipated to dominate the market during the forecast period. Due to a rise in recent years in the number of clinically necessary tests using genetic studies. Additionally, due to the rapid growth of next-generation sequencing (NGS) technologies in liquid biopsy advancements applied to circulating tumor DNA, circulating tumor DNA is anticipated to be the segment with the fastest rising rate during the projected period (ctDNA).
Global Liquid Biopsy Market by Cancer Type
Based on the cancer type, it is segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, liver cancer, and others. The lung cancer segment is anticipated to dominate the market during the forecast period. Because non-small cell lung cancer is becoming more common worldwide. For instance, according to the World Health Organization, lung cancer will account for the vast majority of cancer-related fatalities worldwide (1.80 million deaths) in 2020. Prostate cancer, which is the most common type of cancer and the second largest cause of death in North America, is also anticipated to experience the fastest growth during the projected period.
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Major Players
The key players studied in the report are F. Hoffmann-La Roche Ltd. (Switzerland), Myriad Genetics, Inc. (US), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific, Inc. (US), Guardant Health, Inc. (US), MDxHealth SA (Belgium), Exact Sciences Corporation (US), Illumina Inc. (US), Sysmex Inostics (US), Bio-Rad Laboratories, Inc. (US), Biocept, Inc. (US), NeoGenomics, Inc. (US), ANGLE plc (UK), Menarini-Silicon Biosystems (Italy), and Vortex Biosciences, Inc. (US) among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
- Market Size in 2021 – $2.6 Billion
- Market Size in 2031 – $13.4 Billion
- CAGR % – 17.8%
- Historic Period – 2015 – 2020
- Forecast Period – 2022 – 2031
- Base Year – 2021
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