The Liquid Biopsy Market report from Stratview Research is an in-depth study of the market dynamics across the globe. According to the report, the market is segmented by Products & Services Type (Assay Kits, Instruments, and Services), by Application Type (Cancer {Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, and Others} and Non-Cancer), by Clinical Application Type (Therapy Selection, Treatment Monitoring, Recurrence Monitoring, and Early Cancer Screening), by Circulating Biomarkers Type (Circulating Tumor Cells, Cell-Free DNA, Circulating Tumor DNA, Extracellular Vesicles, and Others), by Technology Type (Multi-Gene Parallel Analysis Using NGS and Single-Gene Analysis Using PCR Microarrays), by End-User Type (Reference Laboratories, Hospitals and Physician Laboratories, Academic & Research Centers, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Market Insights

The liquid biopsy market was estimated at USD 2.4 billion in 2021 and is expected to grow at a CAGR of 18% during 2022-2028 to reach USD 7.64 billion in 2028.

What is a liquid biopsy?

A liquid biopsy is a minimally invasive medical procedure that involves analyzing a blood sample or other bodily fluids to detect and monitor various diseases, including cancer. Unlike traditional biopsies, which require invasive surgical procedures, liquid biopsies offer a non-invasive alternative that can be performed more frequently and with less risk to the patient. Liquid biopsies can detect various biomarkers, such as circulating tumour cells (CTCs), cell-free DNA (cfDNA), and exosomes, providing valuable information on the existence and progression of cancer and other diseases. Liquid biopsies have the potential to revolutionize cancer diagnosis and treatment, as they enable doctors to monitor patients more closely and make more informed decisions about their care.

COVID-19 IMPACT

The impact of the global pandemic Covid-19 was felt across all industries in every field. However, the liquid biopsy market managed to escape the pandemic with minimum damage. The liquid biopsy market witnessed a slight decline in the year 2020 during the pandemic and is likely to rebound at a healthy rate in the forecast period.

Market Drivers

The liquid biopsy market is driven by several factors, including the increasing prevalence of cancer and other diseases, the need for non-invasive diagnostic methods, and the growing demand for personalized medicine. Here are some of the key drivers of the liquid biopsy market:

  • Cancer Prevalence: The rising incidence of cancer is one of the main drivers of the liquid biopsy market. As cancer rates continue to increase, there is a growing need for non-invasive and accurate methods of diagnosing and monitoring the disease.
  • Non-Invasive Diagnostic Methods: Liquid biopsy provides a non-invasive alternative to traditional tissue biopsies, which can be invasive and painful for patients. This is particularly important for patients with advanced cancer or other conditions that make traditional biopsies difficult or risky.
  • Personalized Medicine: Liquid biopsy provides doctors with a wealth of information about a patient's disease, including the specific mutations and biomarkers that may be driving the disease. This information can help doctors tailor treatment plans to the individual patient, leading to better outcomes.
  • Technological Advancements: Advances in liquid biopsy technology, including improvements in sensitivity and specificity, are driving the adoption of this approach in clinical practice.
  • Research Funding: Increased funding for research into liquid biopsy is fuelling innovation in this field, leading to new technologies and applications that are driving market growth.

Key Players

According to the report, below given is a list of key players active in the Liquid Biopsy Market -

  • Biocept Inc.
  • Bio-Rad Laboratories
  • F. Hoffmann-La Roche Ltd.
  • Guardant Health Inc.
  • Illumina, Inc.
  • Johnson & Johnson
  • Laboratory Corporation of America Holdings
  • MDxHealth SA
  • QIAGEN N.V.
  • Thermo Fisher Scientific Inc.

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