Liquid Biopsy Market Size, Growth, Demand, Competitive Landscape and Market Forecast 2023-2030

Global Liquid Biopsy Market is segmented By Circulating Biomarker (Circulating Tumor Cells, Circulating Tumor DNA, Extracellular Vesicles and Others), By Product & Services (Kits & Reagents, Instruments, Services), By Applications (Cancer Applications (Breast Cancer, Colorectal Cancer, Lung Cancer, Prostate Cancer, Liver Cancer, Other Cancers), Non-Cancer Applications), By End User (Hospitals and Physician Laboratories, Research Centers and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Liquid Biopsy Market Overview

The Global Liquid biopsy Market is expected to grow at a high CAGR during the forecasting period (2023-2030). The liquid biopsy is a non-invasive technique to surgical biopsies which provide information about a tumor through blood/liquid samples. Patient treatment can be assessed based on the cancer cell DNA and later helps in desired patient treatments. A liquid biopsy test can detect epidermal growth factor receptor (EGFR) gene mutations which occurs in 10% to 35% of patients with non-small cell lung cancer (NSCLC). The liquid a biopsy helps to diagnose cancer at an early stage.

Liquid Biopsy Market SUMMARY AND SCOPE

Liquid Biopsy Market Dynamics and Trends

The global liquid biopsy market growth is driven by due to advancements such as next-generation sequencing for advanced cancer patients in liquid biopsies, an increase in the number of cancer patients, and a rise in patient preference for minimally invasive therapies.    

The growing significance of companion diagnostics and the rising prevalence of cancer will drive the market growth    

Companion diagnostics include tests or assays intended to assist healthcare providers in making treatment decisions for patients based on the best response to therapy. The co-development of companion diagnostics with therapeutic products can significantly alter the drug development process and commercialize drug candidates by yielding safer drugs with enhanced therapeutic efficacy quickly and cost-effectively. With the increased demand for high-priced specialist therapies and safer drugs, the market for companion diagnostics has high growth potential. The growing importance of companion diagnostics is also providing growth opportunities for the liquid biopsy market.

There has been a significant increase in the number of people who have cancer. The rising prevalence of cancer can be attributed to several factors, such as environmental factors, tobacco consumption, infectious agents such as Hepatitis B and C, and lifestyle changes. According to the WHO, cancer is the second-leading cause of death globally. International Agency for Research on Cancer (IARC) estimated the global cancer burden, indicating that it has risen to 19.3 million cases and 9.96 million cancer deaths in 2020. Liquid biopsy holds several benefits over traditional cancer diagnostics techniques reduced cost, early prognosis, therapy monitoring, detection of tumor heterogeneity, acquired drug resistance, and patient comfort (by eliminating the need for surgery). These factors are driving the growth of the market in the forecast period.

The lower sensitivity of certain liquid biopsies is likely to hamper the market growth   

Detecting ctDNA in liquid biopsies is technically challenging because the levels of ctDNA of any given cancer mutation may be very low in the plasma of a cancer patient, especially after treatment or surgery. The sampling statistics mean that in any individual sample of plasma from a patient, there may be less than one detectable copy of the ctDNA with the cancer mutation. This may result in the ctDNA not being detected in the patient sample, even though it is present in the plasma, but at a low level. This leads to false-negative results in which ctDNA is not detected even though it is present and impacts the informative value of the liquid biopsy tests for cancer. In some cases, false negatives may mean that the recurrence of a tumor is not detected at an early stage.  These factors will hamper the growth of the market in the forecast period.

COVID-19 Impact Analysis on Liquid Biopsy Market

COVID-19 has profoundly impacted the number of patients undergoing cancer screening, diagnosis, and treatment. The increased pressure due to the growing 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. Consequently, according to one study, many diagnostic and treatment procedures had been canceled or postponed around the world, including as many as 2.3 million cancer surgeries.

However, a resurgence in testing numbers is seen as countries gradually ease restrictions on movement. With the COVID-19 pandemic, responding to growing cancer incidence has become a pressing medical issue worldwide. Several patients affected with COVID-19 were people with malignancies, due to which cancer has been identified as a risk factor for COVID-19. Research in this area is further undertaken to better understand the infection dynamics, which is expected to propel the cancer research field further. This is further expected to drive the demand for liquid biopsy products.

Liquid Biopsy Market Segmentation Analysis

The cancer applications segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)      

Breast cancer is the most common cancer among women and is the fifth leading cause of mortality. Incidence rates vary greatly worldwide. It is increasing, particularly in developing countries, where a majority of the cases are diagnosed at later stages. According to World Health Organization, in 2018, lung and breast cancer together accounted for around 11.6% of incident cases out of total cancer cases. Early detection and treatment reduce the mortality rate. A biopsy is the only diagnostic procedure that can definitely determine if the suspicious area is cancerous. A breast biopsy test removes tissue or sometimes fluid from the suspicious area, and the removed cells are examined under a microscope and further tested, to check for the presence of breast cancer. Liquid biopsies are a reliable alternative to conventional biopsies, offering a potentially cheaper, easier, and less invasive way of monitoring malignancies. Patients can be tested more frequently. This method provides accurate results, as genetic sequencing of free-floating tumor DNA captures the diversity of genetic alterations found in cancer cells, in different parts of the body, including the primary tumor and metastases. These tests are gaining traction, within the diagnostic industry. The liquid biopsy market is expected to drive and the increasing incidences of breast cancer are one of the driving factors for the growth of the segment in the forecast period.

Liquid Biopsy Market Geographical Share

North America region holds the largest market share of the global liquid biopsy market

North America is expected to dominate the liquid biopsy market, throughout the forecast period. In the North American region, the United States holds the largest market share and this is due to the fact that cancer is the second most common cause of death in the United States which has helped the growth of the fluid biopsy market in the country. According to the American Cancer Society, in 2019, approximately 1,762,450 new cases were expected to diagnose cancer and around 606,860 are expected to die due to it. Hence, early detection and treatment are of utmost importance. Therefore, the liquid biopsy market is expected to drive the North American region.  

Liquid Biopsy Companies and Competitive Landscape

The liquid biopsy market is highly competitive with the presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Bio-Rad Laboratories, Diagnologix LLC, Exosome Sciences Inc., Grail Inc, Guardant Health, Horizon Discovery, Inivata Ltd, Illumina Inc, LungLife AI Inc, Qiagen NV among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the liquid biopsy market globally. For instance, in August 2020, in July 2018, Exosomics Siena S.p.A., a world leader in exosome-based diagnostics introduced its first proprietary liquid biopsy solutions, selected DNA and SortEV RNA, for the selective isolation of tumor-derived nucleic acids from complex biofluids such as plasma or serum.

Abbott Laboratories

Overview: Bio-Rad Laboratories, Inc. is an American developer and manufacturer of specialized technological products for the life science research and clinical diagnostics markets.

Product Portfolio:

Digital PCR and Liquid Biopsy:  Liquid biopsy is a non-invasive method used for the diagnosis and monitoring of disease states, including cancer. Instead of physically taking a biopsy of the affected tissue, cell-free DNA (cfDNA), circulating tumor DNA (ctDNA, a subset of cfDNA present only in tumors), or cancer cells in suspension (also known as circulating tumor cells, CTCs) are collected from blood or other fluids.