Liquid Biopsy Market: Rising Cases of Lung Cancer Fuelling Adoption of Liquid Biopsy Across the World
Liquid Biopsy Market is expanding primarily owing to an increase in cancer prevalence, urge of early diagnosis and high accuracy in clinical diagnosis. In developing economies rising per capita healthcare expenditure and increasing demand advanced diagnostic technologies are expected to fuel the growth of Liquid Biopsy Market. Liquid Biopsy Market trends are focused on significant increasing demand of liquid biopsy by the leading biotechnology and pharmaceutical companies in anti-cancerous drug development.
Liquid biopsy is an advanced cancer diagnostic test that uses biofluids such as blood, CSF, plasma and urine for detecting cancer. The test can also be used to detect cancer in the early stages. Liquid biopsy is a non-invasive diagnostic test that uses circulating nucleic acids, circulating tumour cells (CTC) and exosomes as a biomarker for the diagnosis of cancer. In the body, the aforementioned biomarkers are released into different body fluids by cancer cells. The test requires blood, urine and cerebral spinal fluid (CSF) samples for diagnosis of various cancers. Among all samples, blood sample is widely used for diagnosis of various cancers such as lung cancer, breast cancer and leukemia. Urine and CSF samples are used for the diagnosis of prostate cancer and brain cancer respectively. In this report, we have considered revenue generation by liquid biopsy test kits and liquid biopsy tests as a whole.
Factors impacting market revenue growth
The demand for liquid biopsy is expected to surge in the coming years owing to the increasing inclination of patients towards non-invasive diagnostic procedures, increasing demand from pharmaceutical and biotechnology companies and rising preference by oncologists for liquid biopsy. Increasing prevalence of lung cancer, growing number of product launches and increasing adoption of personalised medicine is expected to drive revenue growth of the Liquid Biopsy Market.
Market forecast by disease indication
Based on disease indication, the global liquid biopsy market has been segmented into lung cancer, gastrointestinal cancer, prostate cancer, breast cancer, colorectal cancer, leukemia, and others. Clinics in North America are opting for advanced treatment therapies leading to the reduced risk of cancer recurrence. Increasing prevalence of lung and breast cancer is the main reason for the increasing revenue of liquid biopsy tests for lung and breast cancer respectively.
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The lung cancer disease indication segment is expected to expand at a significant CAGR during the forecast period due to increasing prevalence of lung cancer around the world. Lung cancer is also anticipated to remain the most attractive disease indication segment in terms of revenue for players in the liquid biopsy market over the forecast period. Breast cancer segment is expected to be the second most lucrative market, with an attractiveness index of 1.6 during the forecast period. The breast cancer segment is expected to register a CAGR of 21.4% in terms of value over the forecast period, followed by the lung cancer segment with a value CAGR of 21.3% for the duration of the assessment period.
A few key trends governing the global liquid biopsy market
Increasing competition among established players for innovative molecular diagnostic tests in liquid biopsy is expected to drive growth of the global liquid biopsy market over the forecast period. Companies in the liquid biopsy test market are coming up with innovative molecular diagnostic tests, as these tests are gaining traction because of their non-invasive nature as compared to tissue biopsy methods for detecting cancer. Also, these tests provide a less-expensive way to monitor patients throughout the duration of the treatment.
Oncologists are increasingly inclined towards liquid biopsy tests to monitor the disease during the course of therapeutic treatment to detect any genetic mutation. An increasing number of companies in the liquid biopsy market are working to develop a series of tests for monitoring the disease progression. Also, there is an increasing trend for liquid biopsies being used for drug selection at the time of diagnosis, when biopsy tissue is not available or is not accessible. Additionally, liquid biopsies detect drug resistance, screening or early detection of cancer, development of companion diagnostics, determination of prognoses, and assessment of tumour heterogeneity.
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Key Segments Covered
By Marker Type
- CTCs (Circulating tumour Cells)
- ctNA (Circulating tumour Nucleic Acids)
By Sample Type
- Others (Plasma, Saliva, CSF)
By Disease Indication
- Lung Cancer
- Gastrointestinal Cancer
- Prostate Cancer
- Breast Cancer
- Colorectal Cancer
- Cancer Institutes
- Academic Institutes
- Diagnostic Centers
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific Ex. Japan (APEJ)
- Australia and New Zealand
- Rest of APAC
- Middle East & Africa
- South Africa
- Rest of MEA
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