Liquid Biopsy Market Research Report by Geographical Analysis and Forecast to 2025
The emerging trend in the liquid biopsy field is the development of in-depth analytical cancer diagnostic studies for cancer prognosis and metastasis of some cancer types whose conventional tissue biopsies are complicated to carry out. The global liquid biopsy market is driven by superior technological innovations of new tests designed for cancer state monitoring, with increased sensitivities for circulating tumor cells, along with its minimum invasiveness, superiority in genetic anomaly detection than solid tumor biopsies, and increasing awareness through social initiatives. However, issues with reimbursement policies and changing governmental policies are expected to restrain the market.
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The liquid biopsy market has been segmented based on biomarker type, cancer type, test type, application, and end-user. In terms of biomarker type, the market has been classified into circulating tumor DNA (ctDNA), circulating tumor cell (CTC), extracellular vesicle (EV), and other biomarkers. Liquid biopsy was first developed using circulating tumor cells, and since then most of the tests have been developed using these biomarkers. Currently, the number of clinical trials for ctDNA analysis are increasing because the concentration of ctDNA in the blood stream is higher as compared to CTC. This is expected to reflect in the changing dynamics of the market during the forecast period. Based on cancer type, the market has been divided into lung cancer, blood cancer, breast cancer, liver cancer, prostate cancer, and others. In terms of test type, the global liquid biopsy market is bifurcated into single gene assays and multi-gene assays. Based on application, the market has been categorized into diagnosis analysis, prognosis analysis, cancer monitoring, and recurrence analysis. In terms of end-user, the market has been segmented into hospital laboratories, diagnostic laboratories, academic and research institutes, and others.
In terms of region, the global liquid biopsy market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to register a high CAGR owing to factors such as increasing physician inclination toward advanced and minimally invasive techniques for cancer diagnosis, rising prevalence of different cancer types, and growth in per capital health expenditure of the overall population in this region. North America is anticipated to dominate the global liquid biopsy market due to high adoption of technologically advanced products with cutting edge technologies, increasing research and development funding/investments, and rising demand in academic and research institutes.
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Unmet medical needs in the field of cancer treatment and focus on reducing cancer mortalities by providing a broad-spectrum assay with less cumbersome method present significant opportunities in the global liquid biopsy market. The advantages of liquid biopsy over traditional solid biopsy, increasing focus and collaborations among major market players, and research institutes for the generation of multi-regimen assays are fueling the growth of the market.
Key players in the global liquid biopsy market are QIAGEN, RainDance Technologies, Inc., F. Hoffmann-La Roche Ltd., Trovagene, Bio-Rad Laboratories, Inc., Genomic Health, Myriad Genetics, Inc., Biocept, Inc., Johnson & Johnson (Janssen Global Services, LLC), Illumina, Inc., and MDxHealth, among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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