Liquid Biopsy Market - Demand of Personalized Medicines to Propel Growth in Market

Liquid biopsy is a minimally invasive test to assess cancer genetic status based on the analysis of circulating biomarkers that are present in the plasma component of the blood. Liquid biopsies are majorly utilized in the field of oncology. Liquid biopsy can improve and/or resolve several inherent problems found with current cancer treatment, enabling early cancer detection, mutation detection, tumor monitoring during treatment, and recurrence monitoring via a non-invasive blood draw. In addition to being non-invasive, liquid biopsies have the potential to detect cancer before substantial tumor formation, assess multiple mutations within the tumor (reducing heterogeneity concerns), quantitatively monitor treatment progress, and identify new mutations as they emerge as well as monitor for recurrence to detect cancer before imaging-detectable tumor formation or metastasis. In addition to oncology, liquid biopsies are applicable in prenatal testing and transplant care.

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The global liquid biopsy market was valued at around US$ 3,883.2 Mn in 2017 and is anticipated to reach US$ 9071.7 Mn by 2026, expanding at a CAGR of 10.1% from 2018 to 2026. Rising prevalence of cancer, increasing applications of liquid biopsy, and intensive research activities being performed to determine the efficacy of liquid biopsy over other diagnostic tests are some factors that are estimated to propel the market during the forecast period.

Presently, R&D on cancer diagnosis is primarily focused toward liquid biopsy. Market players and research institutes are conducting extensive clinical trials to develop highly sensitive liquid biopsy platform. In May 2018, Grail, a U.S.-based biotechnology company, raised US$ 1 Bn in VC funding and embarked on a 120,000-patient study for early breast cancer detection. In January 2018, researchers at Johns Hopkins developed a test called CancerSEEK, which is a non-invasive multianalyte test that analyzes levels of eight cancer proteins and presence of cancer gene mutation in circulating DNA in the blood. The test included more than 1000 patients with nonmetastatic, stages I to III cancers of the ovary, stomach, liver, pancreas, esophagus, lungs, colorectum, and breast. Extensive research on liquid biopsy aimed at promoting early diagnosis in cancer is likely to drive the market for during the forecast period

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The liquid biopsy market has been segmented based on application, circulating biomarker, end-user, and region. In terms of application, the oncology segment is estimated to account for a major share of the market. According to the World Health Organization (WHO), cancer accounted for 8.8 million deaths, in 2015. Globally, 1 in 6 deaths is due to cancer. Hence, rise in prevalence of cancer and the need of personalized medicine are expected to augment the segment. Based on circulating biomarkers, the free nucleic acid segment held a major share of the market in 2017. The segment is likely to expand at a considerable growth rate, as compared to other circulating biomarkers, during the forecast period. Introduction of next-generation sequencing and improvements in front-end sample preparation and back-end bioinformatics have led to significant improvement in the sensitivity of cell-free DNA assay, which in turn is driving the segment.

In terms of region, the global liquid biopsy market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Developed regions such as North America and Europe accounted for a leading share of the global liquid biopsy market in 2017. The large base of biopharmaceutical companies and research and academic institutes in these regions has contributed to the leading share of these regions. Moreover, increasing prevalence of cancer and rising geriatric population are further driving the liquid biopsy market in these regions. The market in Asia Pacific is projected to expand at an exponential growth rate, owing to rapidly improving health care facilities in countries such as India, China, South Korea, and Malaysia. China dominated the liquid biopsy market in Asia Pacific, whereas the market in India is anticipated to expand at a significant growth rate during the forecast period. Furthermore, increase in investment by leading market players and hospitals providers is expected to fuel the market in the region. These factors are likely to drive the demand for liquid biopsy in the near future. The market in Latin America and Middle East & Africa is projected to expand at a steady pace during the forecast period.

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Prominent players operating in the global liquid biopsy market include Biocept, Inc., MDxHealth, Myriad Genetics, Inc., Bio-Rad Laboratories, QIAGEN, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Genomic Health, Inc., and Illumina, Inc.

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