Liquid biopsy has emerged as a revolutionary diagnostic approach, offering a minimally invasive method for detecting genetic alterations and biomarkers associated with various, diseases, particularly cancer. Liquid biopsy involves the analysis of biofluids such as blood or urine to identify circulating tumor DNA (ctDNA), circulating tumor cells (CTCs), and other biomolecules indicative of diseases.
The liquid biopsy market has experienced significant companies growth, driven by the potential to provide non-invasive, real-time insights into the genetic landscape of tumors. In oncology, liquid biopsies have shown promise for early cancer detection, monitoring treatment response, and detecting minimal residual disease. This approach is particularly valuable when traditional tissue biopsies are challenging or impractical.
Market Research Future (MRFR) has recently published an in-depth report on the global liquid biopsy market and has asserted that the market is likely to attain a valuation of USD 15.2 Bn at a CAGR of 18.9% over the forecast period of 2023-2030.
Key components of liquid biopsy include next-generation sequencing (NGS), polymerase chain reaction (PCR), and other advanced molecular biology techniques. The market has witnessed ongoing technological advancements, including the development of high-throughput platforms and the integration of artificial intelligence for data analysis.
The economic value of the liquid biopsy market reflects the increasing adoption of this technology in clinical practice and research settings. Liquid biopsies offer the potential for more frequent monitoring, personalized treatment strategies, and the ability to adapt therapies based on the evolving genomic profile of the disease.
Despite its promise, challenges such as standardization, sensitivity, and specificity of assays, as well as regulatory considerations, persist. However, ongoing research and collaborations among industry players and research institutions aim to address these challenges and further enhance the clinical utility of liquid biopsy.
Competitive Landscape
Liquid biopsy market players Inivata Ltd., SAGA Diagnostics AB, RainDance Technologies, Inc., Trovagene, Inc., Agena Bioscience Inc. Inc., Admera Health, Exosome Diagnostics, Biocept, Inc., Circulogene Theranostics, and Guardant Health, Inc. are the key players in the liquid biopsy market.
Segmentation
The global liquid biopsy market outlook has been segmented based on biomarker type, application, sample, and end-user.
By biomarker type, the liquid biopsy market has been segmented into circulating tumor cells (Ctcs), extracellular vesicles (Evs), circulating tumor DNA (Ctdna), and others.
By application, the liquid biopsy market has been segmented into cancer therapeutic application, reproductive health, and other therapeutic application.
By sample, the liquid biopsy market has been segmented into blood, urine, and others.
By end-user, the liquid biopsy market has been segmented into hospitals and laboratories, academic and research centers, and others.
Regional Analysis
Region-wise, the liquid biopsy market insights has been segmented into North America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
The global liquid biopsy market is led by North America and accounted for 37.95% share of the global market in 2016 with a valuation of USD 1,499.10 Mn. Surging prevalence of oncological disorders in the region has boosted the growth of the liquid biopsy market. The clustering of major players in the region who are actively involved in R&D activities is also underpinning the growth of the market. The governments in the region are also facilitating the development of the market by extending support in the form of R&D grants. Other growth factors include high expenditure on healthcare and favorable reimbursement landscape.
Europe is following a similar growth pattern as North America. The region is a major R&D hub, and liquid biopsy related research activities are in full swing, which is aiding the expansion of the market.
The APAC liquid biopsy market is likely to expand at a torrid pace and capture the highest CAGR of 28.8% over the forecast period. Mounting prevalence of oncological disorders in the region coupled with rapid demand and adoption of advanced diagnostic methods have boosted the growth of the APAC market. Increasing healthcare expenditure and improving reimbursement scenario are also driving forces. Furthermore, the governments in the emerging economies of the region are endeavoring to make advanced treatment options available to the public, which has impacted the liquid biopsy market positively.
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