Liquid Biopsy Market 2021 is Expected to Reach USD 2,028.5 million in 2026

Increasing cancer incidences, the increasing need for early diagnostic and screening for cancer, and the growing trend of personalized medicines, are likely to drive the growth of the liquid biopsy market during the forecast period. The global liquid biopsy market was valued at USD 730.2 million in 2018 and is expected to reach USD 2,028.5 million in 2026, growing at a CAGR of 22.8% during the forecast period.

Liquid biopsy is a diagnostic technique which is also known as fluid phase biopsy is a non-invasive test that can detect epidermal growth factor receptor (EGFR) gene mutations. This test helps doctors to choose the right treatment options and do treatment screening. Liquid biopsy is an easy procedure that is performed using a small blood sample and is quicker than a surgical biopsy. A few of the biggest benefits of liquid biopsy is it detects the disease progression or treatment resistance long before it would trigger clinical symptoms or appear on imaging scans.

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Liquid biopsy techniques have been widely used for early cancer screening, treatment mentoring, and recurrence monitoring. This technique is also used by doctors to identify the right therapy for different types of cancers. Liquid biopsy can be a game-changer in cancer testing. The research on liquid biopsies has been done on breast cancer, lung cancer, and prostate cancer and more research is expected to happen for all types of cancer in the coming years.

Increasing demand for early cancer detection, growing need for advanced cancer screening and monitoring technologies, and increasing prevalence of cancer across the globe contribute to the growth of the liquid biopsy market. Moreover, the growing adoption of advanced diagnostic options, increasing commercial and research activities in the field of liquid biopsy, drive the market during the forecast period. On the other hand, the uncertain reimbursement & regulatory policies, availability of cheaper screening, and the diagnostic alternative might hamper the market growth to a certain extent.

Key Findings:
-Based on product and services, the assay kits segment is the highest revenue-generating segment in the global liquid biopsy market during the forecast period
-Based on circulating biomarkers, the circulating tumor DNA segment register the fastest growing CAGR during the forecast period
-Based on application, the early cancer screening segment is accounted for the largest share in the market and held for around 28% of the total market, in 2018
-North America accounted for around 32% share of the global liquid biopsy market in 2018

Recent News:
-In May 2019, Biocept, Inc. announced the commercial launch of Target Selector NGS Lung Panel, a multi-gene liquid biopsy panel specifically developed for lung cancer
-In May 2019, QIAGEN received FDA approval for Innovative therascreen PIK3CA RGQ PCR Kit for use in guiding treatment decisions from tissue and liquid biopsy for newly approved therapy PIQRAY (alpelisib) from Novartis
-In Feb 2019, Bio-Rad Laboratories, Inc. received US FDA approval for its liquid biopsy test in oncology QXDx AutoDG ddPCR System, and the QXDx BCR-ABL %IS Kit. It is the first-ever digital PCR solution that can monitor and directly quantitate the molecular response of patients with chronic myeloid leukemia under tyrosine kinase inhibitor therapy

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