Liquid Biopsy Market Revenue is expected to reach US$ 2.89 Bn by 2026
Liquid biopsy is an advanced cancer diagnostic test that uses biofluids such as blood, CSF, plasma and urine for detecting cancer. The test can be used to detect cancer in early stages. It is a non-invasive diagnostic test that uses circulating nucleic acids, circulating tumour cells (CTC) and exosomes as a biomarker for diagnosis of cancer. In the body, aforementioned biomarkers are released into different body fluids by cancer cells. The test requires blood, urine and cerebral spinal fluid (CSF) samples for diagnosis of various cancers. Among all samples, blood sample is widely used for diagnosis of various cancers such as lung cancer, breast cancer and leukemia. Urine and CSF samples are used for diagnosis of prostate cancer and brain cancer respectively.
Market Value and Forecast
Global liquid biopsy market revenues are projected to expand at a CAGR of 21.7% during the forecast period 2016-2026 and a reach value of US$ 2,893.7 million by the end of 2026.
Growth of the global liquid biopsy market is mainly driven by increasing prevalence of cancer globally. Increasing prevalence of various cancers such as lung cancer, breast cancer and prostate cancer is expected to drive growth of the liquid biopsy test market over the forecast period. Other prominent growth factors include increasing preference of oncologists towards non-invasive diagnostic procedure for detecting cancer. However, cost and lower awareness regarding liquid biopsy tests are the major factor expected to restrain growth of global liquid biopsy market over the forecast period.
FDA approvals for various non-invasive diagnostic tests to detect cancer is set to define the regulatory landscape for liquid biopsy tests. Companies in the liquid biopsy market space are expected to invest more on test kits and cost containment procedures to provide innovative diagnostic solutions to the oncologists and physicians for detecting metastasis.
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Market Segmentation by Marker Type
Based on marker type, the market has been segmented into circulating tumour Cells (CTCs), ctNA circulating tumour nucleic acids (ctNA), and exosomes.
Market Segmentation, by Sample Type
Based on sample type, the market has been segmented into blood, urine, and others (plasma, saliva, Cerebrospinal fluid). Blood sample type segment, is expected to create significant incremental opportunity in global liquid biopsy market over the forecast period.
Market Segmentation, by Disease Indication
Based on disease indication, the market has been segmented into lung cancer, gastrointestinal cancer, prostate cancer, breast cancer, colorectal, leukemia and others. Lung cancer, disease indication segment currently accounts for highest revenue as compared to other segments in the global liquid biopsy market. Whereas breast cancer and colorectal cancer, disease indication segments have been anticipated to contribute significant revenue in global liquid biopsy market over the forecast period.
Market Segmentation, by End User
Based on end user type, the market has been segmented into hospitals, cancer institutes, academic institutes and diagnostic centres. Cancer institute is the largest end user segment in terms of revenues and is expected to create significant incremental opportunity in global liquid biopsy market over the forecast period.
The global liquid biopsy market has been segmented into seven major regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA). In terms of value, North America is estimated to be the dominant market in 2016, which is expected to expand at a CAGR of 21.3% over the forecast period. APEJ is estimated to be the fastest growing markets in terms of revenue growth. APEJ liquid biopsy market is expected to register a CAGR of 25.5% over the forecast period. Lung cancer disease indication segment in the APEJ liquid biopsy market is expected to register a CAGR of 22.0% over the forecast period, with growth driven by increasing prevalence of lung cancer in the region.
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Some key players in the global liquid biopsy market identified in this report are 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. The report also identifies company-specific strategies related to market consolidation initiatives and analysis of their specific strengths, weaknesses, opportunities and threats.
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