by Market Overview:
Liquid biopsy involves test samples derived from body fluids such as blood, urine and saliva, which are analyzed via molecular diagnostic techniques to screen for cancer biomarkers. It offers non-invasive way for early detection and monitoring of disease progression.
Market key trends:
The growing adoption of precision medicine for treatment of cancers has boosted the demand for liquid biopsy. Molecular characterization through liquid biopsy helps doctors determine the best treatment options tailored to the molecular profile of individual patient’s tumors. Advancements in liquid biopsy technologies enable monitoring of cancer recurrence and response to therapies in a non-invasive manner, leading to better patient outcomes.
Market key trends:
The Liquid Biopsy Market Share has been witnessing high growth over the past few years owing to the increasing adoption of non-invasive cancer screening procedures. One of the major trends in this market has been the development and commercialization of liquid biopsy tests that can detect early-stage cancers. Circulating tumor cells (CTCs) and cell-free DNAs (cfDNAs) in the bloodstream hold great potential for the early detection of cancer as well as monitoring disease progression and treatment response. Various companies are focusing on developing liquid biopsy tests that can accurately detect even the minutest genetic alterations in CTCs or cfDNAs circulating in blood for the diagnosis of early-stage cancers.
SWOT Analysis
Strengths: Non-invasive nature makes liquid biopsy a more patient-friendly alternative to traditional tissue biopsies. Growing demand for cost-effective and real-time cancer monitoring is driving the market.
Weaknesses: Liquid biopsies have lower cancer detection rates compared to tissue biopsies. Not all cancer types shed cells/DNA into blood in sufficient quantities to be detected.
Opportunities: Scope for improving cancer detection capabilities through advanced technologies. Growing focus on developing multi-cancer early detection tests.
Threats: High entry barriers due to complex R&D and regulatory issues. Reimbursement and infrastructure related challenges restricting market growth.
Key Takeaways
The global Liquid Biopsy Market is expected to witness high growth over the forecast period 2023 to 2030, exhibiting a CAGR of around 16% due to the increasing adoption of non-invasive cancer screening methods. The market size for liquid biopsy was estimated at around US$ 5.25 Bn in 2023.
North America dominated the global market in 2023owing to rapid adoption of advanced cancer screening tests and presence of key market players in the region. Asia Pacific is expected to exhibit the fastest growth over the coming years supported by rising cancer incidence, growing awareness, and improving healthcare infrastructure in the region.
Key players operating in the Liquid Biopsy Market include Bio-Rad Laboratories, Guardant Health, Horizon Discovery, Qiagen NV and LungLife AI Inc. These leading players are focusing on product launches, partnerships, and development of multi-cancer tests to strengthen their market position.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
