Liquid Biopsy Market Size to Reach USD 5.53 Billion in 2028 | Increasing Number of Individuals Opting for Early Detection of Various Diseases and Rise in Demand for Early Detection of Cancer are Some Key Factors Driving Industry Demand, says Emergen Research

VANCOUVER, BC, Aug. 31, 2021 /PRNewswire/ -- The global liquid biopsy market size was USD 1.21 Billion in 2020 and factors such as surge in number of cancer patients and rise in preference for minimally invasive treatment are driving global liquid biopsy market revenue growth according to the latest report by Emergen Research.

Liquid biopsy helps in diagnosis of various cancers such as breast cancer, non-small cell lung carcinoma, lymphomas, head and neck cancer, and leukaemia. According to the WHO, cancer is a leading cause of death globally, accounting for almost 10 million deaths in 2020. By 2040, the number of cancer cases is expected to reach 29.5 million and cancer-related death to 16.4 million. Continuous increase in incidence of cancer in propelling revenue growth of the global liquid biopsy market.

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Drivers: Increasing demand for minimally invasive procedures

Rising preference for minimally invasive therapies among patients requiring treatments is propelling market revenue growth. Increase in incidence of cancer and demand for safe and non-invasive procedures is driving the market revenue growth.

Liquid biopsy is a simple and non-invasive technology that enables researchers to track all epigenetic and genetic changes in solid tumors using blood samples. Liquid biopsies are less risky to patients and doctors can easily perform it multiple times. Patients prefer minimally invasive procedures as the advanced instruments used in such procedures allow performing more delicate and complex work with low risks, less pain, and reduced scarring.

Restraints: Low sensitivity and specificity.

Liquid biopsy providers have concerns regarding sensitivity of the procedure, which can result in misdiagnosis due to low levels of circulating genetic material. Specificity is also an issue as results may show false positive and result in patients being treated unnecessarily. Physicians and researchers cannot completely rely on liquid biopsy results and use tissue biopsies due to lack of desired specificity and sensitivity. This is hindering market revenue growth to a certain extent.

Growth Projections

The global liquid biopsy market size is expected to reach USD 5.53 Billion in 2028 and register a revenue CAGR of 20.8% over the forecast period, attributed to surge in prevalence of cancer globally. Advancements in technology has also resulted in development of non-invasive procedures for early diagnosis and treatment of cancerous as well as non-cancerous diseases.

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COVID-19 Direct Impacts

COVID-19 has adversely affected market growth. Due to implementation of lockdown globally, diagnosis and treatment of COVID-19 was given priority in various healthcare facilities. Early diagnosis of cancer has been suspended and there has been a significant decrease in therapies, visits, and cancer related surgeries. Logistic restriction has affected supplies of cancer diagnostic raw materials and components required to produce liquid biopsy kits.

Current Trends and Innovations

Increased funding in research & development of liquid biopsy is driving market revenue growth. CtDNA liquid biopsy is becoming the most preferred non-invasive method for cancer profiling and treatment monitoring applications due to rapid advancements in technology and low cost of DNA sequencing.

In August 2020, FDA approved Guardant360 CDx, which uses liquid biopsy and next generation sequencing technology to identify patients with specific type of mutations of epidermal growth factor receptor (EGFR) gene in a fatal form of metastatic non-small cell lung cancer.

Geographical Outlook

Liquid Biopsy market in Asia Pacific is expected to register fastest revenue CAGR over the forecast period due to increasing number of government initiatives to modernize healthcare infrastructure and rise in prevalence of cancer. Increasing demand for minimally invasive surgeries in countries in the region to shorten hospital stay and overall medical expense is further driving market growth.

Strategic Initiatives

In June 2021, Personal Genome Diagnostics Inc. announced the launch a NGS kit solution, elio plasma complete, for comprehensive blood-based genomic analysis. The kit supports research in areas such as therapy selection, biomarker discovery, and monitoring, and is ideal for investigating genomic signatures and genetic mutations in several cancer types. It eliminates the need for invasive biopsy or tumor tissue.

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Some Key Highlights From the Report

• Blood sample-based segment accounted for largest revenue share in 2020. Despite various pre-existing applications and purification processes, blood sampling is most commonly used for liquid biopsy studies and product innovations. Blood samples can detect cell-free DNA, circulating tumor cells, and exosomes, as well as macrovesicles.
• Circulating Tumor Cells (CTCs) segment accounted for a significantly large revenue share in 2020 as it has attracted interest as biomarkers of cancer metastases. CTCs are liquid biopsy from blood, and they can be used in molecular and pathological assays. CTCs can be used to guide therapeutic cancer management and serve as drug targets.
• Oncology segment accounted for largest revenue share in 2020 due to rising prevalence of cancer across the globe. High demand for liquid biopsy in lung cancer will continue to propel market growth due to increase in prevalence of non-small cell lung cancer globally. Lung cancer is among the leading causes of cancer deaths in men and women.
• Some major companies operating in the market include Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Adaptive Biotechnologies, NeoGenomics Laboratories, Guardant Health, Inc., RainDance Technologies, Inc., Biocept, Inc., Qiagen N.V., Trovagene, Inc., and F. Hoffmann-La Roche Ltd.

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Emergen Research has segmented the global liquid biopsy market on the basis of product, circulating biomarkers, sample type, disease, application, end-use, and region:

• Product Outlook (Revenue, USD Billion; 2018–2028)
• Assays Kits
• Instruments
• Services
• Circulating Biomarkers Outlook (Revenue, USD Billion; 2018–2028)
• Circulating Tumor DNA (ctDNA)
• Circulating Tumor Cells (CTCs)
• Extracellular Vesicles (EVs)
• Cell-Free DNA (cfDNA)
• Other Circulating Biomarkers
• Sample Type Outlook (Revenue, USD Billion; 2018–2028)
• Blood Sample based
• Urine Sample based
• Other Bio Fluids based
• Disease Outlook (Revenue, USD Billion; 2018–2028)
• Oncology
  a. Breast Cancer
  b. Lung Cancer
  c. Prostate Cancer
  d. Colorectal Cancer
  e. Melanoma Cancer
  f. Other Cancers
• Non-cancer disease
• Application Outlook (Revenue, USD Billion; 2018–2028)
• Early Cancer Screening
• Therapy Selection
• Treatment Monitoring
• Recurrence Monitoring Orthopedics
• End-use Outlook (Revenue, USD Billion; 2018–2028)
• Hospitals and Physician Laboratories
• Reference Laboratories
• Academic and Research Centers
• Other
• Regional Outlook (Revenue, USD Billion; 2018–2028)
• North Americ
  a. U.S.
  b. Canada
  c. Mexico
• Europe
  a. Germany
  b. U.K.
  c. France
  d. Spain
  e. BENELUX
  f. Rest of Europe
• Asia Pacific
  a. China
  b. India
  c. Japan
  d. South Korea
  e. Rest of APAC
• Latin America
  a. Brazil
  b. Rest of LATAM
• Middle East & Africa
  a. Saudi Arabia
  b. UAE
  c. Israel
  d. Rest Of MEA

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