Global Liquid Biopsy Market - 2023-2030
The Global Liquid Biopsy Market reached US$ 4.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 12.3 billion by 2030. The Global Liquid Biopsy Market is expected to exhibit a CAGR of 15.4% during the forecast period 2023-2030.
Liquid biopsy is a non-invasive diagnostic technique that analyzes biomarkers in body fluids, providing insights into various diseases such as cancer. It offers advantages over traditional tissue biopsies, such as easier sample collection and real-time disease monitoring.
Furthermore, the increasing prevalence of cancer globally, advancements in genomic research and technology, increasing adoption of minimally invasive diagnostic procedures, and rising potential for early detection and monitoring of diseases are expected to drive the market over the forecast period. Market Dynamics
Rising Research in Liquid Biopsies on the Horizon for Children with Solid Cancers is Expected to Drive Liquid Biopsy Market Growth
According to National Cancer Institute Article 2023, researchers in the field of cancer are making advancements in the development of liquid biopsy tests, which have the potential to complement or even replace traditional tissue biopsies.
These tests analyze genetic and other material released by tumors into the bloodstream and other bodily fluids. Currently, liquid biopsies are being utilized to detect cancer-related genetic alterations and aid in treatment decision-making.
Scientists have expanded their research on liquid biopsies to include children with cancer, focusing on solid tumors such as Ewing sarcoma, osteosarcoma, and Wilms tumor (a kidney cancer). A recent study conducted by researchers from Children's Hospital Los Angeles (CHLA) and the University of Southern California has made progress in developing a liquid biopsy test specifically for pediatric cancer patients.
This test analyzes fragments of DNA found in blood samples and has shown promising results in diagnosing various types of solid tumors in children. The study, published in npj Precision Oncology, also indicates the potential of this test in assessing treatment response and detecting possible tumor recurrence following successful initial treatment.
The liquid biopsy test developed by the CHLA and USC researchers focuses on detecting copy number alterations using low-pass whole-genome sequencing. This method is cost-effective and can analyze multiple samples simultaneously.
While it can also detect some single-nucleotide changes, it cannot detect all of them. Unlike many liquid biopsies being developed for children, this approach and similar tests by other researchers aim to identify multiple types of cancer. Thus , the market is expected to drive over the forecast period due to the above factors.
Rising Development of New Tools in Diagnosing Cancer is Expected to Drive Liquid Biopsy Market Growth
Dr. Gavin Ha, a computational biologist at the Fred Hutchinson Cancer Center, has been awarded the 2022 National Institutes of Health Director's New Innovator Award. The $1.5 million five-year grant will support Ha's research in leveraging cell-free tumor DNA in liquid biopsies to gather valuable information for cancer diagnosis, treatment selection, and disease monitoring. Liquid biopsies, which involve analyzing DNA traces in blood samples, provide molecular insights into tumors.
While most liquid biopsy strategies focus on detecting cancer-associated changes in DNA sequence, Ha takes a different approach by investigating the factors that enable DNA fragments to persist in the bloodstream, specifically examining the protection provided by DNA packaging proteins. DNA in our cells is compactly packaged, and this packaging plays a role in gene regulation. Gene expression affects how cancer cells respond to treatments, their resistance patterns, and their potential to transform into different cancer cells.
Technical Challenges and Limitations in the Liquid Biopsy are Hampering the Growth of the Global Liquid Biopsy Market
Liquid biopsy techniques face various technical challenges that can limit their effectiveness and hinder the market growth. Some of these challenges include sensitivity and specificity, standardization, and reproducibility.
Besides, regulatory and reimbursement issues can hinder the widespread adoption of liquid biopsy tests. These challenges include regulatory approvals and reimbursement policies. Thus, from the above factors, the market is expected to hamper over the forecast period.COVID-19 Impact Analysis
The COVID-19 pandemic had a significant impact on the liquid biopsy market. During the pandemic, there has been a decrease in routine healthcare visits, including cancer screenings and diagnostic procedures.
As a result, the demand for liquid biopsy tests may have been affected, as these tests are often used as non-invasive alternatives to traditional tissue biopsies. Reduced patient visits and diagnostic testing have likely resulted in a decline in the overall adoption and utilization of liquid biopsy technologies.
Moreover, many ongoing clinical trials related to liquid biopsy research and development have experienced delays or disruptions due to the pandemic. Restrictions on patient recruitment, limited access to healthcare facilities, and prioritization of resources for COVID-19 management have resulted in the postponement or alteration of clinical trial timelines. This delay in research activities can impact introducing new liquid biopsy technologies and products to the market.
As the pandemic evolves and healthcare systems adapt, the liquid biopsy market is expected to recover and continue its growth trajectory, driven by advancements in technology, research, and the increasing demand for personalized and non-invasive cancer diagnostics.
Russia-Ukraine Conflict Analysis
The Russian-Ukraine war has had implications for various sectors, including the healthcare industry and potentially the liquid biopsy market. The war has caused substantial interruptions in impacted regions' healthcare infrastructure, particularly Ukraine. Damage to medical facilities, medical supply shortages, and the relocation of healthcare staff can all interrupt the routine operation of healthcare systems.
As resources are redirected to meet more pressing healthcare needs, this interruption may impact the availability and accessibility of numerous diagnostic tests, including liquid biopsy. Moreover, the war and its economic consequences can shift healthcare expenditures and priorities. With limited budgets and a need to allocate resources to war-related efforts and post-conflict rebuilding, there may be reduced investment in healthcare infrastructure, research, and development.
The ongoing conflict can obstruct research and development endeavors in the affected regions. Constraints on funding and resources, along with an unsettled research environment, can slow the progress of innovation and scientific breakthroughs concerning liquid biopsy technologies. Additionally, collaborating and exchanging knowledge and expertise with international partners may face challenges amidst the conflict.Segment Analysis
The Global Liquid Biopsy Market is segmented based on circulating biomarkers, products & services, applications, technology, end user, and region.
The Kits & Reagents Segment is Expected to Hold a Dominant Position in the Market Over the Forecast Period
The kits & reagents segment accounted for the highest market stake, accounting for approximately 43.7% of the liquid biopsy market in 2022. Liquid biopsy kits and reagents are widely adopted worldwide. This is because liquid biopsy kits and reagents are the essential components required to collect and process samples for analysis.
These kits and reagents include specific reagents, enzymes, buffers, and other materials necessary for DNA or RNA extraction, amplification, and analysis. They are designed to provide researchers and healthcare professionals with standardized and reliable tools for liquid biopsy testing.
The increasing demand for non-invasive diagnostic methods and the growing awareness of liquid biopsy's potential in cancer detection and monitoring drives the adoption of liquid biopsy kits and reagents. These kits and reagents are readily available from various manufacturers and suppliers, making them accessible to laboratories and research institutions worldwide. Thus, owing to the above factors, the market is expected to hold the largest market share in the forecast period.Geographical Analysis
The North American Region is Dominating the Global Liquid Biopsy Market
North America is expected to dominate the nootropics market, accounting for around 38.9%. Higher investments and numerous biotechnology businesses producing the tests, high cancer prevalence, rapid technological advancements, increasing regulatory approvals, and growing government initiatives dominate the North American region.
For instance, on May 29, 2023, Guardant Health, Inc. announced that Singapore's Health Sciences Authority (HSA) had granted regulatory approval for Guardant360 CDx, a liquid biopsy test for tumor mutation profiling, also known as comprehensive genomic profiling (CGP), in patients with advanced solid cancers. The Guardant360 CDx test was also approved as a companion diagnostic to identify patients with advanced non-small cell lung cancer (NSCLC) with epidermal growth factor receptor (EGFR) alterations who may benefit from treatment with TAGRISSO (osimertinib).
Furthermore, on March 22, 2023, Droplet Biosciences, a biotechnology company specializing in liquid biopsy technologies, recently secured an $8 million seed investment to develop its lymph-based liquid biopsy platform further.
The investment will support the company's efforts in advancing its proprietary technology and expanding its cancer detection and monitoring capabilities. Thus, from the above factors, the North American region is expected to hold the largest market share over the forecast period.Competitive Landscape
The major global players in the market include Bio-Rad Laboratories, F. Hoffmann-La Roche AG, Exosome Sciences Inc., Grail Inc, Guardant Health, Thermo Fisher Scientific Inc., Inivata Ltd, Illumina Inc, LungLife AI Inc, and Qiagen NV among others.Why Purchase the Report?
• To visualize the Global Liquid Biopsy Market segmentation based on the circulating biomarker, product & services, application, technology, end-user, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous liquid biopsy market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The Global Liquid Biopsy Market Report Would Provide Approximately 77 Tables, 77 Figures And 195 Pages.Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies