Liquid biopsy involves isolating circulating tumor cells, circulating tumor DNA or exosomes from blood and analyzing them to obtain clinically actionable genetic information about cancer. By analyzing blood samples, liquid biopsy can monitor disease progression and identify tumor mutations without invasive tissue biopsies. It is emerging as an important cancer screening and monitoring tool with potential benefits over traditional tissue biopsies. Liquid biopsy provides key information to help guide treatment decisions and detect small/residual diseases.
The global liquid biopsy market is estimated to be valued at US$ 5.25 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Early cancer detection presents one of the major opportunities in the liquid biopsy market. Liquid biopsy has potential to replace invasive tissue biopsies for early cancer screening and detection. Through analyzing circulating tumor DNA or cells, it can detect cancer at its earliest stages even before tumors are clinically apparent. Early detection significantly increases chances of effective treatment and better outcomes. It allows screening of asymptomatic, average-risk population to identify cancers that may otherwise go undetected until more advanced stages. As liquid biopsy non-invasively monitors small amounts of cancer DNA in blood over time, it holds promise for an inexpensive, simple and affordable screening test that can revolutionize cancer care through early detection.
The demand for non-invasive cancer screening and monitoring procedures is expected to significantly drive the liquid biopsy market growth over the forecast period.
The global liquid biopsy market is dominated by the circulating tumor DNA segment. Circulating tumor DNA can analyze the complete genome of a cancer specimen and help determine the optimal treatment based on tumor mutations. This comprehensive molecular profiling has led circulating tumor DNA to account for over 60% of the liquid biopsy market currently.
Political: Governments across regions are supporting liquid biopsy research through funding as it is a less invasive alternative to tissue biopsies. For example, in the US, the National Cancer Institute invested $150 million over 5 years for liquid biopsy projects.
Economic: The rising healthcare costs of cancer treatment combined with growing demand for personalized medicine is driving interest in liquid biopsy. Liquid biopsy can help reduce procedure costs by replacing expensive surgical biopsies.
Social: Liquid biopsies address demand from patients and physicians for minimally invasive cancer screening and monitoring technologies. Its ease of use compared to tissue biopsies enhances compliance for serial testing over the course of treatment.
Technological: Advancements in genomics, digital PCR techniques, and circulating tumor biomarker discovery have enabled comprehensive molecular analysis from blood samples. Startups are also developing microfluidics-based capture and analysis systems to standardize liquid biopsy assays.
The global liquid biopsy market share is expected to witness high growth over the forecast period of 2023 to 2030 driven by rising cancer incidence as well as technological and reimbursement improvements enhancing clinical adoption. The global liquid biopsy market is estimated to be valued at US$ 5.25 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030.
North America is projected to remain the largest market for liquid biopsy during the forecast period attributed to rising prevalence of cancer and increasing awareness about liquid biopsy. The US accounts for the majority share due to ongoing clinical trials and substantial reimbursements for liquid biopsy tests.
Key players: Key players operating in the liquid biopsy market are BASF SE, Spectrum Chemical Manufacturing Corp., Kudos Chemie Limited, AVT Natural Products, Tianjin Zhong€TMan, Pharmaceutical Company Ltd., Shandong Xinhua Pharma, Aarti Industries Limited, Bakul Group, Taj Pharmaceuticals Limited., and Jilin Shulan Synthetic Pharmaceutical Co. Ltd.These companies are focused on launching innovative liquid biopsy test kits and panels to ensure sustainable market presence.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it