Liquid Biopsy Market Opportunities, Recent Industry Size And Share Analysis With Forecast To 2027
Liquid biopsy is a revolutionary technology that is opening up various perspectives. The technology consists of isolation and detection of circulating tumor cells, tumor DNA and exosomes, which provides genomic information of the cancer patients. Liquid biopsy is used in cancer diagnosis in order to study the response or resistance to given treatments. Different samples used for liquid biopsy are blood, urine, and other samples which includes stool and others. Additionally, circulating tumor cells (ctc), exosomes, and free nucleic acid are the circulating biomarkers used for detection of cancers.
The liquid biopsy market was valued at US$ 3,861.49 million in 2019and is projected to reach US$ 8,123.85 million by 2027; it is expected to grow at a CAGR of 9.9% during 2020–2027.
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Biocept, inc., Bio-Rad Laboratories, Inc., Lunglifeai, inc, Exosome Diagnostics, F. Hoffmann-la Roche ltd, Inivata ltd,Exact sciences corporation, Mdxhealth, Qiagen, and Thermo fisher scientific inc. are among the key players present in the liquid biopsy market. The companies are focused on following organic strategies such as product launches and business expansions to sustain their position in the dynamic market. For instance, in November 2019, Thermo Fisher Scientific launched a product namely Oncomine Precision Assay, which is innovative pan-cancer panel for the Genexus platform. It is likely to perform, genomic profiling from formalin-fixed, paraffin-embedded (FFPE) tissue and liquid biopsy samples with a single assay.
Based on product & services, the liquid biopsy market is segmented into equipment, reagents & kits and services. The reagents & kits segment held the largest share of the market in 2019 and the same segment is anticipated to register the highest CAGR of 10.3% in the market during the forecast period. The growth of reagents & kit segment is attributed to the enhancement of solution to improve staining results and unique antibodies with fluorescent staining markers. There are various reagent & kits available in market for the detection of cancerous cell. For instance, MagMAX cell-free total nucleic acid isolation kit used to isolate and purify cfRNA and cfDNA from serum, plasma, or urine samples with the help of magnetic bead-based technology.
The liquid biopsy test is conducted to detect cancer at an early stage. The test is performed either on a blood sample to identify cancer cells present in the in blood stream, or on the DNA extracted from tumor cells. The government for early detection of cancer takes various initiatives. For instance, the National Institutes of Health (NIH) started a new initiative called Precompetitive Collaboration on liquid biopsy for early cancer assessment. The purposes of this initiative are to establish a Public-Private Partnership Program for the development of new or validate existing technologies, methods, and assays for the capture and quantification of tumor-associated cells, RNA, DNA, or exosomes in body fluids of patients with an early-stage disease or those at high risk. This initiative emphasis early cancer detection by distinguishing aggressive and nonaggressive cancers, and differentiates benign disease from cancer.
The report segments global liquid biopsy market as follows:
Liquid Biopsy Market - By Product & Service
- Reagents & Kits
Liquid Biopsy Market - By Sample
- Blood Based
- Urine Based
- Other samples
Liquid Biopsy Market - By Circulating Biomarker
- Circulating Tumor Cells (CTC)
- Free Nucleic Acid
Liquid Biopsy Market - By Application
- Noninvasive Prenatal Testing (NIPT)
- Transplant Diagnostics
- Other Applications
Liquid Biopsy Market - By End User
- Academic & Research Institutes
- Reference Laboratories
- Other End Users
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