Forecasting the Growth Trajectory: Liquid Biopsy Market Analysis By 2023 to 2033

 

The global liquid biopsy market value is expected to rise from US$ 1,538.3 million in 2023 to US$ 10,938.6 million by 2033. This estimated growth is expected to be driven by a remarkable CAGR of 21.7% in the global liquid biopsy market over the next decade.

Several biomedical research centers and the pharmaceutical industry aim to enhance treatments' efficacy and detect a pathological condition at its early stage. Since clinical genetic analyses and cancer diagnosis require sampling via tumor biopsy, the increasing cases of cancer across the globe are creating an optimistic outlook for the sales of liquid biopsy over the next decade.

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Presently, tumor tissue is a gold standard source for cancer characterization and diagnosis. Key players are working on the current barriers associated with its usage to extend its applicability in the future. Several studies have also come to light that discover the potential of liquid biopsy approaches to determine the genetic profiles of cancer in cancer patients. The studies also consider the responses to monitor treatment and latch on to the inception of therapy resistance. In recent years, the demand for personalized treatment options has propelled the use of liquid biopsy.

The use of liquid biopsy is also rising due to its availability in numerous labs, even in emerging economies, and its affordability. For instance, liquid biopsy tests can be found in several labs in India. 4baseCare is one of the leading companies that offer affordable and advanced comprehensive genetic testing solutions in the country.

“Key players are bringing cost reductions in liquid biopsy tests and partnering with local product distributors to strengthen their network base in target markets. Currently, a trend toward emerging economies has been spotted, as cancer cases are particularly on the rise, and a large population base provides significant opportunities in these markets,” says an FMI analyst.

Key Takeaways from the Liquid Biopsy Market Report:

  • The North America liquid biopsy market is expected to account for a leading share of 50.84%. The United States is predicted to account for 43.8%, enjoying a dominant share in the global and regional markets.
  • The Europe market is anticipated to acquire a market share of 19.6% in 2023. Germany holds a prominent share in the region. In 2023, the country is predicted to amass a total of 6.6% share in the global market.
  • In Europe, the United Kingdom is predicted to expand at a robust CAGR of 26.4% through 2033.
  • In Asia Pacific, China and India display a remarkable percentage of growth, i.e., 29.7% and 24.4%, respectively, through 2033.
  • CTC (Circulating Tumor Cells) is projected to obtain a significant market share of 56.9% by biomarker type in 2023.
  • By sample type, blood sample type holds prominence in the liquid biopsy market.

Key Developments by Liquid Biopsy Market Players:

  • QIAGEN N.V. (the Netherlands), in May 2022, introduced a therascreen EGFR Plus RGQ PCR Kit, which is a new in vitro diagnostic test for the analysis of sensitive EGFR mutation.
  • Guardant Health, Inc., in June 2021, introduced Guardant360 Response test that finds variations in circulating tumor DNA (ctDNA) levels.
  • Hoffmann-La Roche Ltd. (Switzerland), in October 2020, gained United States FDA approval for the extended claims for cobas EGFR Mutation Test v2 to be deployed as a companion diagnostic for an extensive range of therapies to manage non-small cell lung cancer (NSCLC).
  • Biocept, Inc., in March 2020, agreed with a California-based Independent Physician Association (IPA) to offer its Target Selector liquid assay services to patients and physicians in the network.

Companies Operating in the Liquid Biopsy Market:

  • BIOCEPT, INC.
  • Qiagen N.V.
  • Trovagene, Inc
  • Janssen Global Services, LLC
  • MDxHealth SA
  • Natera, Inc
  • F. Hoffmann-La Roche Ltd
  • Silicon Biosystems
  • Pathway Genomics Corporation
  • Sysmex Corporation
  • Others

Key Segments Profiled in the Liquid Biopsy Industry Survey:

By Biomarker Type:

  • CTCs (Circulating Tumour Cells)
  • ctNA (Circulating tumor Nucleic Acids)
  • Exosomes

By Sample Type:

  • Blood Liquid Biopsy
  • Urine Liquid Biopsy
  • Other (Plasma, Saliva, CSF) Liquid Biopsy

By Application Type:

  • Liquid Biopsy for Lung Cancer
  • Liquid Biopsy for Gastrointestinal Cancer
  • Liquid Biopsy for Prostate Cancer
  • Liquid Biopsy for Breast Cancer
  • Liquid Biopsy for Colorectal Cancer
  • Liquid Biopsy for Leukemia

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Japan
  • Middle East and Africa

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