The liquid biopsy market size is projected to reach US$ 8,123.85 million by 2027 from US$ 3,861.49 million in 2019. The liquid biopsy market CAGR is estimated to grow at 9.9% from 2020 to 2027.
Liquid biopsy is a revolutionary technology that is opening up various perspectives. The technology consists of isolation and detection of circulating tumor cells, tumor DNA and exosomes, which provide genomic information about the cancer patients. Liquid biopsy is used in cancer diagnosis to study the response or resistance to given treatments. Different samples used for liquid biopsy are blood, urine, and other samples, including stool and others. Additionally, circulating tumor cells, exosomes, and free nucleic acid are the circulating biomarkers used to detect cancers. The liquid biopsy offers advantages such as low cost, accuracy, rapid results, and early detection over traditional diagnosis techniques, thereby making the liquid biopsy a popular technique among patients. Due to technological advances regarding feasibility and turnaround time, it has gained widespread attention as a non-invasive alternative technique to tissue biopsy in patients with cancer.
The global liquid biopsy market is segmented based on product & services, sample, circulating biomarker, application, end user, and geography. The global liquid biopsy market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The liquid biopsy market report offers insights and in-depth analysis of the market, emphasizing various parameters such as market trends, technological advancements, market dynamics, and the competitive analysis of the globally leading market players. The liquid biopsy market forecast is studied from 2019 to 2027.
Lucrative Regions for Liquid Biopsy Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Government and Global Health Organizations Initiatives to Drive Global Liquid Biopsy Market
The liquid biopsy test is conducted to detect cancer at an early stage. The test can be performed either on a blood sample to identify cancer cells in the bloodstream or on the DNA extracted from tumor cells. The government takes various initiatives for the early detection of cancer. For instance, the National Institutes of Health (NIH) started an initiative called Precompetitive Collaboration on Liquid Biopsy for Early Cancer Assessment. Its purposes are to establish a public–private partnership program to develop new or validate existing technologies, methods, and assays to capture and quantify tumor-associated cells, RNA, DNA, or exosomes in body fluids of patients with an early-stage disease or those at high risk. It emphasis early cancer detection, distinguishing between aggressive from nonaggressive cancers, and to differentiate benign disease from cancer. European countries are also taking initiatives for the early detection of cancer. For instance, the Innovative Medicines Initiative funded the CANCER-ID project. It is a public-private partnership between the EU and the European pharmaceutical industry, which includes 38 partners from 13 European countries, along with groups from the US and a company in Singapore. These partners are brought together to develop and validate standardized operating procedures for liquid biopsies. Such increasing initiatives for liquid biopsy will boost the growth of the liquid biopsy market.
Product & Services-Based Insights
Based on product & services, the global liquid biopsy market is segmented into equipment, reagents & kits, and services. The reagents & kits segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR in the market during the forecast period.
Liquid Biopsy Market, by Product and Services – 2019 and 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Sample-Based Insights
Based on sample, the liquid biopsy market is segmented into blood based, urine based, and other samples. In 2019, the blood-based segment held the largest share of the market and is estimated to register the highest CAGR in the market during the forecast period owing to its remarkable advantages such as the blood-based liquid biopsy sample is non-invasive and painless, decreases the cost and diagnostic time over the conventional method.
Circulating Biomarker-Based Insights
Based on circulating biomarker, the liquid biopsy market is segmented into circulating tumor cells (CTC), exosomes, and free nucleic acid. The circulating tumor cells (CTC) segment held the largest share of the market in 2019 and is estimated to register the highest CAGR during the forecast period. The CTC segment dominates other segments because it can be used repeatedly and provide more useful information on cancerous cell risk, disease progression, and treatment.
Application-Based Insights
Based on application, the liquid biopsy market is segmented into noninvasive prenatal testing (NIPT), oncology, transplant diagnostics, and other applications. The oncology segment held the largest share of the market in 2019. However, the noninvasive prenatal testing (NIPT) segment is estimated to register the fastest CAGR in the market during the forecast period.
End User-Based Insights
Based on end user, the liquid biopsy market is segmented into academic & research institutes, hospitals, reference laboratories, and other end users. The hospitals segment held the largest share of the market in 2019. However, the reference laboratories segment is estimated to register the highest CAGR during the forecast period.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Liquid Biopsy Market: Strategic Insights
Market Size Value in US$ 3,861.49 million in 2019 Market Size Value by US$ 8,123.85 million by 2027 Growth rate CAGR to 9.9% from 2020 to 2027. Forecast Period 2020-2027 Base Year 2020
Akshay
Have a question?
Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Liquid Biopsy Market: Strategic Insights
Market Size Value in | US$ 3,861.49 million in 2019 |
Market Size Value by | US$ 8,123.85 million by 2027 |
Growth rate | CAGR to 9.9% from 2020 to 2027. |
Forecast Period | 2020-2027 |
Base Year | 2020 |
Akshay
Have a question?
Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystProduct launches and collaborations are some organic developments adopted strategies by the global liquid biopsy market players to expand their footprint worldwide and meet the growing demand. Merger & acquisition, collaboration, and partnership by the operating players in the market with an aim to bridge the demand-supply gap are anticipated to play a major role in the growth of the market during the forecast period. A few of the recent key market developments are listed below:
In November 2019, Thermo Fisher Scientific launched a product named Oncomine Precision Assay—an innovative pan-cancer panel for the Genexus platform. It is likely to perform genomic profiling from formalin-fixed, paraffin-embedded (FFPE) tissue, and liquid biopsy samples with a single assay.
In August 2018, Exact Sciences Corp. signed a partnership with Pfizer to promote Colorguard in the US. Pfizer has helped with sales representatives to promote the test to physicians and health systems during marketing campaigns.
The COVID-19 pandemic has significantly affected the liquid biopsy market. Due to growing number of COVID-19 patients, the supply of diagnostics kits and assays was delayed; worldwide lockdown was imposed and all business operations were shut down. COVID-19 has profoundly impacted the number of patients undergoing cancer screening, diagnosis, and treatment. The increased pressure due to the rise in the rate of COVID-19 patients' hospitalization led to the re-profiling of many hospitals and departments, including oncology clinics for treating patients with the COVID-19. It also slowed down clinical trials and drug development. A California-based Lucence Diagnostics, known as a market player in the healthcare industry who develops liquid biopsy, was diverted to manufacture kits for COVID-19. Thus, the widespread of COVID-19 limited the growth of the liquid biopsy market. However, the ease in restrictions and companies resuming their operations will help the market to grow at a steady pace during the forecast period.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product and Services ; Sample ; Circulating Biomarker ; Application ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Liquid biopsy is a revolutionary technology that is opening up various perspectives. The technology consists of isolation and detection of circulating tumor cells, circulating tumor DNA and exosomes, which provides genomic information of the cancer patients. Liquid biopsy are used in cancer diagnosis in order to study response or resistance to given treatments.
The growth of the market is attributed to some key driving factors such as increasing prevalence of cancer and growing geriatric population. However, low sensitivity of liquid biopsy is likely to pose a negative impact on the market during the forecast years.
The North American region holds the largest market for the liquid biopsy. The United States held the largest market for liquid biopsy mean market and is expected to grow due to factors such as Increasing incidence of cancer, growing need for diagnosing cancer, increasing competition between the market player, high R&D spending, and government grants for research institutes to develop new diagnostics.
The List of Companies - Liquid Biopsy Market
- Biocept, Inc
- Bio-Rad Laboratories Inc
- LungLife AI, Inc
- Exosome Diagnostics
- F. Hoffmann-la Roche ltd
- Exact Sciences Corporation
- Inivata Ltd
- MDxHealth
- Qiagen
- Thermo Fisher Scientific Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Liquid Biopsy Market
Apr 2020
Colonoscopes Market
Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Fiber Optic Colonoscopy Devices, Video Colonoscopy Devices); Application (Colorectal Cancer, Lynch Syndrome, Ulcerative Colitis, Crohn's Disease, Polyp); End User (Hospitals, Ambulatory Surgery Center, Others), and Geography
Apr 2020
Noninvasive Fat Reduction Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Cryolipolysis, Laser Lipolysis, Ultrasound, and Others), End User (Hospitals, Dermatology Clinics & Cosmetic Clinics, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Apr 2020
Medical Ultrasound Flow Meter Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Implementation Type (Clamp-On, Inline, and Others), Technology (Doppler, Transit Time, and Hybrid), Application (Heart and Lung Machines, Extracorporeal Membrane Oxygenation, Perfusion, Organ Transportation Systems, and Others), End User (Hospitals and Clinics, Ambulatory Surgical Centers, Research Laboratories, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Apr 2020
Rapid Test Kits Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Rapid Antigen Testing, Rapid Antibody Testing, and Others), Product (Over-the-Counter Rapid Testing Kit and Professional Rapid Testing Kit), Technology (Lateral Flow Assay, Solid Phase, Agglutination, Immunospot Assay, and Cellular Component-Based), Application (Blood Glucose Testing, Infectious Disease Testing, Pregnancy and Fertility, Cardiometabolic Testing, and Others), End User (Hospital and Clinics, Home Care, Diagnostics Centers, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Apr 2020
Osteoarthritis Therapy Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Therapy Type [Transcutaneous Electrical Nerve Stimulation (TENS), Occupational Therapy, Physical Therapy, Platelet-Rich Plasma Therapy and Stromal Vascular Fraction, Prolotherapy, and Others], Disease Indication (Knee Osteoarthritis, Spine Osteoarthritis, Foot and Ankle Osteoarthritis, Shoulder Osteoarthritis, Hand Osteoarthritis, and Others), End User (Hospitals & Clinics, Specialty Clinics, Ambulatory Surgical Centers, Homecare, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Apr 2020
Bariatric Surgeries Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type [Adjustable Gastric Bands (AGB), Sleeve Gastrectomy, Gastric Bypass, Biliopancreatic Diversion with Duodenal Switch (BPD-DS), and Others], End User (Hospitals and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Apr 2020
Post-Acute Care Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Service Type (Skilled Nursing Facilities, Inpatient Rehabilitation Facilities, Long-Term Care Hospitals, Home Health Agency, and Others), Age (Elderly, Adult, and Others), Disease Conditions (Amputations, Wound Management, Brain Injury and Spinal Cord Injury, Neurological Disorders, and Others), and Geography
Apr 2020
Lung Cancer Therapy Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Therapy Type (Noninvasive and Minimally Invasive), Indication (Non-Small Cell Lung Cancer and Small Cell Lung Cancer), End User (Hospitals, Oncology Clinics, Research Centers, and Others), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa)