Liquid Biopsy Market to Witness Growth 14% by 2030

Published Date : 24, 2022

The global liquid biopsy market size was estimated at USD 8.1 billion in 2021 and is expected to be worth around USD 26.2 billion by 2030, witness growth at a CAGR of 14% from 2022 to 2030.

 Growth Factors

The liquid biopsy is used in detection and treatment of cancer. The technologies used in the treatment of cancer are NGS and PCR. According to the World Health Organization (WHO), cancer is the largest cause of death in the world, with approximately 10 million fatalities in 2020. Every year, almost 4 lacks of youngsters are diagnosed with cancer. The most frequent cancers differ from country to country. In 23 countries, cervical cancer is the most frequent. Thus, these figures show the upsurge in the number of cancer cases. As a result, the growing incidents of cancer are driving the growth of the global liquid biopsy market over the projected period.

Another reason that is driving the growth of the global liquid biopsy market is technological advancements and innovation in the process of liquid biopsy and treatment of cancer. The technologies such as next generation sequencing, blockchain, and artificial intelligence are adopted for the development and launch of liquid biopsy treatments globally. Thus, this factor is boosting the expansion of the global liquid biopsy market.

The growth of the worldwide liquid biopsy market is also being driven by the surge in demand for minimally invasive or noninvasive surgical procedures for the treatment of cancer. In addition, the government initiatives and high investments for the research and development in the field of healthcare and medical is propelling the liquid biopsy market growth. Thus, all of these factors is creating lucrative opportunities for the development and expansion of the global liquid biopsy market.

Scope of the Report

Report Attributes Details
Market Size in 2020 USD 7.1 Billion
Revenue Forecast by 2028  USD 20.1 Billion
CAGR 14% from 2022 to 2030
North America Market Share in 2020  50%
Circulating Tumor Cells Segment Revenue Share in 2020 36.5%
NGS Segment Revenue Share in 2020 74%
Companies Covered Biocept Inc., Guardant Health,Bio-Rad Laboratories, QIAGEN N.V, Illumina, Inc., F. Hoffmann-La Roche Ltd., MDxHealth SA, Johnson & Johnson, Laboratory Corporation of America Holdings, Thermo Fisher Scientific Inc.

 

Report Statistics

  • The North American segment is expected to reach $6,679.8 million in 2030 from $1,615 million in 2020, at a CAGR of 15.26%.
  • The Asia Pacific segment is expected to reach $1,871.9 million in 2030 from $416.8 million in 2020, at a CAGR of 16.21%.
  • The next generation sequencing segments was valued US$ 1,703.1 million in 2020 and is expected to reach at a CAGR of 16.12%.
  • The test/service segment was estimated at US$ 1,653.9 million in 2020 and is growing at a CAGR of 17.48% from 2021 to 2030.
  • The Cell-Free DNA segment was surpassed US$ 1,691.8 million in 2020 and is projected to grow at a CAGR of 15.67%.
  • The circulating tumor cells segment was worth US$ 1,055.2 million in 2020 and is anticipated to grow at a CAGR of 16.16%.
  • The lung cancer segment was valued at US$ 837.2 million in 2020 and is growing at a CAGR of 16.88% from 2020-2030.
  • The breast cancer segment was reached at US$ 703.1 million in 2020 and is predicted to grow at a CAGR of 15.19%.
  • The prostate cancer segment was hit at US$ 544.8 million in 2020 and is expected to grow at a CAGR of 17.65%.
  • The PCR segment was reached at US$ 1,044.7 million in 2020 and is growing at a CAGR of 15.62% from 2020 to 2030.
  • The prognosis and recurrence monitoring segment was valued at $819.5 million in 2020 and is expected to grow at a CAGR of 14.50%.

Report Highlights:

  • Based on the technology, the multi gene parallel analysis (NGS) segment dominated the global liquid biopsy market in 2020 with largest market share 74%. The multi gene parallel analysis (NGS) is one of the prominent technologies used in detection of different type of mutations in the human body.
  • On the basis of application, the cancersegment holds the largest market share the global liquid biopsy market in 2020. The segment growth is attributed to the rising prevalence of cancer globally. The cancer can be treated with liquid biopsy.
  • Based on the circulating biomarker, the circulating tumor cells segment dominated the global liquid biopsy market in 2020 with largest market share 36.5%. The biomarkers are largely used for the treatment of cancer. The biomarkers are used in combination with circulating tumor cells. 
  • North America is the largest segment for liquid biopsy market in terms of region. The growth of the liquid biopsy market in North America region is attributed to the growing prevalence and incidents of cancer and existence of huge number of market players in the region.
  • Asia-Pacific region is the fastest growing region in the liquid biopsy market. The factors such as growing awareness about liquid biopsy, rising disposable income, and surge in healthcare expenditure are driving the growth of the liquid biopsy market.

Future of Liquid Biopsy Market

The demand and need for companion diagnostics are rising at a rapid pace over a period of time. The wide range of tests is included in the companion diagnostics. The demand for targeted therapeutics and drugs is growing on a large scale. The treatment such as immunotherapy is also creating lucrative opportunities for the growth of the global liquid biopsy market. The immunotherapy for cancer helps in the development of other therapies such as liquid biopsy. As a result, the global liquid biopsy market is expected to grow at a steady rate in upcoming years.

COVID-19 Impact Analysis:

  • The global liquid biopsy market was highly impacted by the COVID-19 pandemic. The cancer is regarded as highly risky disorder, which requires proper treatment and diagnostics.
  • Thus, this factor surges the demand for liquid biopsy during 2020. This created positive outlook for the growth of the global liquid biopsy market during the forecast period.

Key Developments in the Marketplace:

  • MD Anderson and Guardant Health Inc. established cooperation in January 2017 to make complete liquid biopsy a standard of care in cancer.
  • F. Hoffmann-La Roche Ltd. got extended claims for the cobas EGFR Mutation Test v2 from the Food and Administration in October 2020, allowing it to be used as a companion diagnostic for a broader spectrum of medicines to treat non-small cell lung cancer.
  • Guardant Health Inc. introduced the Guardant360 Response test in June 2021, which detects changes in circulating tumor DNA levels.
  • Biocept Inc. signed a contract with a second California based independent physician association in March 2020 to supply its Target Selector liquid biopsy assay services to the patients and physicians.

The report is readily available and can be dispatched immediately after payment confirmation.

Buy this premium research report - https://www.precedenceresearch.com/checkout/1398

Any question regarding this study, please feel free to contact at sales@precedenceresearch.com