Global Liquid Biopsy Market By Offering (Testing Services, Kits, Platform, Other consumables), By Technology (Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), Others), By Workflow (Sample Preparation, Library Preparation, Sequencing, Data Analysis & Management), By Sample (Blood, Urine, Saliva, Others), By Circulating Biomarkers (Circulating Tumor Cells (CTCs), Cell-free Nucleic Acids, Exosomes & Extracellular Vesicles), By Application (Oncological and Non-oncological), By End User (Clinical Laboratories, Academic & Research Institutes, Pharmaceutical & Biotechnology Companies), By Region Competition Forecast & Opportunities, 2027
Global liquid biopsy market was valued at USD 2,728.57 million in 2021, and during the forecast period, it is expected to expand at a CAGR of 13.77%. An alternate way of detecting and diagnosing cancer is liquid biopsy. The primary reason propelling the growth of the liquid biopsy market is the rising incidence of cancer worldwide. Liquid biopsies aid in the early detection of cancer while traditional biopsy techniques do not allow the detection of cancer in the aged population.
Due to factors such as the rising prevalence of cancer, increased funding for research to find new biomarkers, and increased emphasis on the use of liquid biopsy, the market is anticipated to experience rapid expansion.
The rise of the industry is partly a result of substantial investments made by biotechnology firms in the research and development of liquid biopsies. A further factor driving the growth of the liquid biopsy market in the years to come is the increasing use of liquid biopsy among prominent end users.
Rising Incidence of Cancer
Several factors, including tobacco use, alcohol use, poor food, physical inactivity, and air pollution, are contributing to the rise in cancer cases in the modern world. The global incidence of cancer is rising, making it the second biggest cause of death. Breast cancer is now the most prevalent type of cancer diagnosed worldwide due to the increased prevalence of the disease among females.
Growing adoption of Liquid Biopsy among major end users
As prospective screening, diagnostic, prognostic, and predictive tests in cancer, liquid biopsies have gained a lot of interest. Clinical oncology has undergone a significant revolution owing to liquid biopsy, which makes it easier to sample tumors, provide continuous monitoring through repeated sampling, enable the creation of specific treatment plans, and test for therapeutic resistance. Since most cancers are in contact with blood, liquid biopsy mostly includes blood collection, though mucosa, pleural effusions, urine, and cerebrospinal fluid (CSF) are also examined during the procedure. As a result, Liquid Biopsy offers improved diagnosis sensitivity and simplicity of recurring sampling throughout therapy in a far more practical and non-invasive manner.
Increased Awareness Regarding Cancer
Today's population is more aware of the signs and symptoms of cancer, and they try to have their illness diagnosed when it is still in its early stages. As a result of early cancer detection, tumor progression monitoring, and clinical prognosis assessment capabilities, liquid biopsy technology is experiencing market expansion.
The Global Liquid Biopsy Market is segmented based on Offering, Technology, Workflow, Sample, Circulating Biomarker, Application, End User, and Region. Based on Offering, the market can be split into Testing Service, Kits, Platform, Other Consumables. Based on Technology, the market can be divided into Next Generation Sequencing, Polymerase Chain Reactions, Others. Based on Workflow, the market is divided into Sample Preparation, Library Preparation, Sequencing, Data Analysis & Management. Based on Sample, the market is divided into Blood, Urine, Saliva, Others.
Based on Circulating Biomarker, the market is divided into Circulating Tumor Cells (CTCs), Cell Free RNAs, Exosomes & Extracellular Vesicles, Others. In terms of Application, the market can be categorized into Oncological v/s non-Oncological. Based on End User, the market is split into Pharmaceutical & Biotechnology Companies, Clinical Laboratories, Academic & Research Institutes.
F. Hoffmann-La Roche AG, Thermo Fisher Scientific, Inc., PerkinElmer Inc., LungLife AI, Inc., Illumina, Inc., QIAGEN NV, NeoGenomics Laboratories, Inc., Myriad Genetics, Inc., Biocept, Inc., Bio-Rad Laboratories, Inc., Guardant Health Inc., Natera, Inc., Sysmex Corporation, Abcodia Ltd., Dxcover Limited are among some of the major market players in the Global Liquid Biopsy Market.
In this report, Global Liquid Biopsy Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook