Liquid Biopsy Market worth 1.66 Billion USD by 2021

The report "Liquid Biopsy Market Cancer Type (Lung, Breast, Colorectal, Prostate, Liver), Circulating Biomarkers (Circulating Tumor Cells, Circulating Tumor DNA), Product (Instruments, Software), End User (Reference Laboratory, Research Centers) - Forecast to 2021", provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the liquid biopsy market along with the estimates and forecasts of the revenue.

The liquid biopsy market is expected to reach USD 1.66 Billion by 2021 from USD 0.58 Billion in 2016, growing at a CAGR of 23.4% during this period.

A number of factors, such as the rising incidence of cancer, benefits of liquid biopsy over solid tumor biopsy, technological advancements, availability of funding, and growing awareness about liquid biopsy through conferences and government initiatives, are driving the growth of the market. However, unclear regulatory and reimbursement scenario is the major area of concern in this market.

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In this report, the liquid biopsy market is segmented on the basis of cancer type, circulating biomarkers, products & services, end users, and regions. Based on cancer type, the market is segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, liver cancer, and other cancers. The other cancers segment includes melanoma, bladder cancer, and ovarian cancer. In 2016, the lung cancer segment is expected to account for the largest share of the market, followed by breast cancer.

Based on circulating biomarkers, the liquid biopsy market is categorized into four major segments, namely, circulating tumor cells (CTCs), circulating tumor DNA (ctDNA), Extracellular Vesicles (EVs), and other biomarkers. The other biomarkers segment includes circulating RNA and proteins. The circulating tumor cells segment is expected to account for the largest share of the global market in 2016, followed by the circulating tumor DNA segment. Based on products and services, the market is segmented into instruments, reagents, and services and software.

Based on end user, the liquid biopsy market is segmented into reference laboratories, hospital/physician laboratories, academic and research centers, and other end users. The other end-users segment includes public health laboratories, pathology laboratories, and small molecular laboratories.

In 2016, North America is expected to account for the largest share of the global market. The large share of this regional segment can be attributed to factors such as easy accessibility and high adoption of advanced diagnostic technologies, such as PCR and NGS, among healthcare professionals; increasing prevalence of cancer in the U.S. and Canada; and continuous technological advancements in liquid biopsy. The Asia-Pacific market, however, is estimated to witness the highest growth during the forecast period owing to the increasing focus of market players on this region.

Biocept Inc. (U.S.), Myriad Genetics (U.S.), QIAGEN (Netherlands), Roche (Switzerland), Bio-Rad Laboratories Inc. (U.S.), Trovagene Inc. (U.S.), Guardant Health, Inc. (U.S.), Janssen Diagnostics, LLC (U.S.), Fraunhofer-Gesellschaft (Germany), and MDxHealth SA (U.S.) are the major players in the liquid biopsy market.

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