Publication Month: Apr 2020 | Report Code: TIPRE00003996 | No. of Pages: 195 | Category: Medical Device | Status: Published
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.
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.
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.
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.
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.
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.
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.
|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.|
|No. of Pages||195|
|No. of Tables||125|
|No. of Charts & Figures||76|
|Historical data available||Yes|
|Segments 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||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Product 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.
The List of Companies - Liquid Biopsy Market