Market Definition
The liquid biopsy market involves the development, production, and application of minimally invasive tests that detect and analyze circulating tumor cells (CTCs), cell-free DNA (cfDNA), exosomes, and other biomarkers from a blood sample. Liquid biopsies offer a non-invasive alternative to traditional tissue biopsies, enabling early cancer detection, monitoring of disease progression, and assessment of treatment efficacy. This market includes various technologies and platforms used for the collection, processing, and analysis of liquid biopsy samples.
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Market Outlook
The liquid biopsy market is experiencing significant growth driven by the increasing prevalence of cancer and the rising demand for non-invasive diagnostic and monitoring tools. Liquid biopsies offer several advantages over traditional tissue biopsies, including reduced patient discomfort, lower risk of complications, and the ability to provide real-time insights into tumor dynamics. The growing adoption of personalized medicine and targeted therapies is further fueling the demand for liquid biopsies, as these tests enable the detection of specific genetic mutations and alterations that guide treatment decisions.
Technological advancements are playing a crucial role in the expansion of the liquid biopsy market. Innovations in next-generation sequencing (NGS), digital PCR, and other molecular techniques are enhancing the sensitivity and specificity of liquid biopsy tests. These advancements allow for the detection of low-abundance biomarkers and provide comprehensive genomic profiles of tumors from a simple blood draw. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) is improving the analysis and interpretation of liquid biopsy data, leading to more accurate and actionable results.
The market is also supported by increasing investments in cancer research and the growing number of clinical trials evaluating the efficacy of liquid biopsy technologies. Government initiatives and favorable regulatory policies are encouraging the development and commercialization of liquid biopsy tests. Moreover, the expanding applications of liquid biopsies beyond oncology, such as in prenatal testing and organ transplant monitoring, are further driving market growth.
However, the liquid biopsy market faces challenges, including high costs associated with advanced technologies and the need for robust clinical validation. The initial investment and ongoing costs for developing and implementing liquid biopsy tests can be significant, posing a barrier for some companies and healthcare providers. Additionally, ensuring the accuracy and reliability of test results requires extensive clinical validation and standardization, which can be time-consuming and resource-intensive.
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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.
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
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