
NGS-based liquid biopsy Market: Current Analysis and Forecast (2023-2028)
Description
NGS-based liquid biopsy Market: Current Analysis and Forecast (2023-2028)
NGS technologies have revolutionized liquid biopsy by enabling the detection and analysis of genetic alterations, such as mutations, copy number variations, and chromosomal rearrangements, with high sensitivity and accuracy. This approach has gained considerable attention in oncology for cancer diagnosis, monitoring treatment response, detecting minimal residual disease, and identifying potential drug resistance mechanisms. The market for NGS-based liquid biopsy is mainly driven by the increasing prevalence of cancer worldwide, the need for personalized medicine approaches, and the growing demand for non-invasive and real-time monitoring of cancer progression. For instance, as per the World Health Organization (WHO), Cancer was one of the leading causes of death worldwide, killing nearly 10 million people in 2020.
The NGS-Based Liquid Biopsy Market is expected to grow at a steady rate of 16.8% owing to Growing Cancer Awareness Programs by Global Health Organizations. For instance, For instance, on 4th February World Cancer Day, World Cancer Day aims to prevent millions of deaths each year by raising awareness about cancer and encouraging governments and individuals around the world to take action against cancer.
- Based on type, the market is segmented into kits, instruments, and services. The kits category dominated the market in 2022. The Kits segment in the next-generation sequencing (NGS) based liquid biopsy market plays a crucial role in facilitating the accurate and efficient detection of biomarkers in liquid biopsy samples. Further, the kits are cost-effective and are available at cheaper rates are among the major factors driving the growth of the segment.
- On the basis of end-users, the market is categorized into diagnostic laboratories, hospitals, clinics, and others. Among these, the hospital’s category held a dominating share of the market in 2022. This is mainly due to the rising number of cancer cases, along with the increasing hospitalization are the major factors responsible for the segmental growth of the hospitals.
- For a better understanding of the market adoption of the NGS-based liquid biopsy industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The North American region held the largest dominating market share in 2022 with a share of 42.2% in the global NGS-based liquid biopsy market. The market for NGS-based liquid biopsy is witnessing growth in the region due to the presence of developed countries such as the U.S. and Canada in the region. Further, the continuously rising cancer incidences are the major problem faced by the region owing to which the demand for cancer diagnostics increases including NGS-based liquid biopsies. For instance, as per the Globocan 2020 report, 2.5 million cancer cases were reported in 2020 in North America. Among them, 699,274 deaths were reported in the same year.
- Some of the major players operating in the market include GENOMILL HEALTH OY; Avida Biomed; Thermo Fisher Scientific Inc.; Agilent Technologies Inc.; F. Hoffmann-La Roche Ltd; Illumina, Inc; QIAGEN; Biocept Inc.; Guardant Health, Inc.; and Lucence Health Inc.
GENOMILL HEALTH OY; Avida Biomed; Thermo Fisher Scientific Inc.; Agilent Technologies Inc.; F. Hoffmann-La Roche Ltd; Illumina, Inc; QIAGEN; Biocept Inc.; Guardant Health, Inc.; and Lucence Health Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, services category to witness fastest growth rate during the forecast period”
Based on type, the market is segmented into kits, instruments, and services. Amongst, services category to witness the fastest growth rate during the forecast period. This segment includes the production and manufacturing of cellular products, such as stem cells, T-cells, and other cell-based treatments, which are used to treat a range of diseases and conditions, including cancer, genetic disorders, and degenerative diseases. Companies in this segment offer a range of services, including cell processing, cell banking, and cell therapy product development and commercialization. These factors are expected to contribute to the growth of this segment.
“Amongst end-users, the diagnostic laboratories category is expected to witness fastest growth in the market in 2022.”
On the basis of end-users, the market is categorized into diagnostic laboratories, hospitals, clinics, and others. Among these, the diagnostic laboratories category is expected to witness fastest growth in the market in 2022. The diagnostic laboratories that focus on NGS-based liquid biopsy offer services to healthcare providers, researchers, and pharmaceutical companies. They receive patient samples and perform the necessary laboratory procedures to extract the genetic material and prepare it for sequencing. The increasing demand for in-home diagnostics, along with the rising number of patients having cancer are the major attributing factors for the growth of the segment in the NGS-based liquid biopsy. For instance, NeoGenomics Laboratories is providing InVisionFirst Lung Liquid Biopsy which is NGS based liquid biopsy assay testing 37 genes relevant to the care of advanced NSCLC patients. This test involves a mobile sample collection facility.
“APAC to hold a significant share in the market”
For a better understanding of the market adoption of the NGS-Based Liquid Biopsy industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The APAC region is expected to growth with the highest CAGR during the forecast period The region consists of fast-developing nations such as China and India due to which the demand for advanced diagnostic technologies is increasing. Furthermore, the Asia and Pacific region is home to more than 60% of the world’s population and this factor also makes the region the most attractive market for the growth of the NGS-based liquid biopsy industry. Further, with the rapid rise in the population in the region, the Asia Pacific is also witnessing rapidly surging cases of cancer which also becomes an important driving factor to the NGS-based liquid biopsy market in the region. As per the Globocan 2020, around 5.8 million deaths were reported due to cancer in 2020 from Asia.
NGS-based Liquid Biopsy Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Table of Contents
145 Pages
- 1 MARKET INTRODUCTION
- 1.1. Market Definitions
- 1.2. Main Objective
- 1.3. Stakeholders
- 1.4. Limitation
- 2 RESEARCH METHODOLOGY OR ASSUMPTION
- 2.1. Research Process of the NGS BASED LIQUID BIOPSY Market
- 2.2. Research Methodology of the NGS BASED LIQUID BIOPSY Market
- 2.3. Respondent Profile
- 3 MARKET SYNOPSIS
- 4 EXECUTIVE SUMMARY
- 5 IMPACT OF COVID-19 ON THE NGS BASED LIQUID BIOPSY MARKET
- 6 NGS BASED LIQUID BIOPSY MARKET REVENUE, 2020-2028F
- 7 MARKET INSIGHTS BY TYPE
- 7.1. Kits
- 7.2. Instruments
- 7.3. Services
- 8 MARKET INSIGHTS BY END-USER
- 8.1. Diagnostic Laboratories
- 8.2. Hospitals
- 8.3. Clinics
- 8.4. Others
- 9 MARKET INSIGHTS BY REGION
- 9.1. North America
- 9.1.1. U.S.
- 9.1.2. Canada
- 9.1.3. Rest of North America
- 9.2. Europe
- 9.2.1. Germany
- 9.2.2. U.K.
- 9.2.3. France
- 9.2.4. Italy
- 9.2.5. Spain
- 9.2.6. Rest of Europe
- 9.3. Asia-Pacific
- 9.3.1. China
- 9.3.2. Japan
- 9.3.3. India
- 9.3.4. Rest of Asia-Pacific
- 9.4. Rest of World
- 10 NGS BASED LIQUID BIOPSY MARKET DYNAMICS
- 10.1. Market Drivers
- 10.2. Market Challenges
- 10.3. Impact Analysis
- 11 NGS BASED LIQUID BIOPSY MARKET OPPORTUNITIES
- 12 NGS BASED LIQUID BIOPSY MARKET TRENDS
- 13 DEMAND AND SUPPLY-SIDE ANALYSIS
- 13.1. Demand Side Analysis
- 13.2. Supply Side Analysis
- 14 VALUE CHAIN ANALYSIS
- 15 PRICING ANALYSIS
- 16 COMPETITIVE SCENARIO
- 16.1. Competitive Landscape
- 16.1.1. Porters Fiver Forces Analysis
- 17 COMPANY PROFILED
- 17.1. GENOMILL HEALTH OY
- 17.2. Avida Biomed
- 17.3. Thermo Fisher Scientific Inc.
- 17.4. Agilent Technologies Inc.
- 17.5. F. Hoffmann-La Roche Ltd
- 17.6. Illumina, Inc
- 17.7. QIAGEN
- 17.8. Biocept Inc.
- 17.9. Guardant Health, Inc.
- 17.10. Lucence Health Inc
- 18 DISCLAIMER
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