Liquid Biopsy Market accounted for US$ 1.32 billion in 2020 and is estimated to be US$ 7.92 billion by 2030 and is anticipated to register a CAGR of 19.8%. Liquid biopsy is a non-invasive alternative to surgical biopsies that allows doctors to acquire tumor-related information from a simple blood sample. The epidermal growth factor receptor (EGFR) gene alterations that arise in people with non-small cell lung cancer can be detected using a liquid biopsy test. Liquid biopsy detects tumour DNA in a blood sample, which can help doctors choose the best treatment for a specific patient. Lung, breast, and prostate cancer are the most common reasons for these biopsies.
The report " Global Liquid Biopsy Market By Product Type (Reagents & Kits and Equipment), By Sample (Cell Free DNA, Circulating Tumor Cells, and Exosomes), By Application (Oncology Testing, Non-Invasive Prenatal Testing, and Transplant Care), By End User (Hospitals, Research Laboratories, Diagnostic Laboratories, and Patients) and By Region (North America, Asia Pacific, Europe, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
· Guardant Health, Inc. (US) announced the Guardant360 Response test in June 2021, which identifies changes in the levels of circulating tumour DNA (ctDNA).
· F. Hoffmann-La Roche Ltd. (Switzerland) got extended claims for the cobas EGFR Mutation Test v2 from the US FDA in October 2020, allowing it to be used as a companion diagnostic (CDx) for a broader spectrum of medicines to treat non-small cell lung cancer (NSCLC).
· Biocept, Inc. (US) announced in March 2020 that it has reached an agreement with a second California-based independent physician association (IPA) to supply its Target Selector liquid biopsy test services to the network's physicians and patients.
Analyst View:
There has been a huge increase in the number of people diagnosed with cancer around the world. Environmental causes, cigarette consumption, infectious agents such as Hepatitis B and C, and lifestyle changes are all contributing to the increased cancer prevalence. Cancer is the second-leading cause of mortality worldwide, according to the World Health Organization. According to the International Agency for Research on Cancer (IARC), the global cancer burden is expected to reach 19.3 million cases and 9.96 million cancer deaths by 2020. Reduced cost, early prognosis, therapy monitoring, detection of tumour heterogeneity, acquired drug resistance, and patient comfort are all advantages of liquid biopsy over traditional cancer diagnostics approaches (by eliminating the need for surgery). As a result, in the projection period, the preference for liquid biopsy will most certainly increase in tandem with the rise in cancer prevalence.
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Key Market Insights from the report:
Global Liquid Biopsy Market accounted for US$ 1.32 billion in 2020 and is estimated to be US$ 7.92 billion by 2030 and is anticipated to register a CAGR of 19.8%. The Liquid biopsy market is segmented on the basis of product type, sample, application, end user, and region.
· Based on Product Type, Global Liquid Biopsy Market is segmented into Reagents & Kits and Equipment.
· Based on Sample, Global Liquid Biopsy Market is segmented into Cell Free DNA, Circulating Tumor Cells, and Exosomes.
· Based on Application, Global Liquid Biopsy Market is segmented into Oncology Testing, Non-Invasive Prenatal Testing, and Transplant Care.
· Based on End-User, Global Liquid Biopsy Market is segmented into Hospitals, Research Laboratories, Diagnostic Laboratories, and Patients.
· By Region, the Global Liquid Biopsy Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Liquid Biopsy Market:
The Key players operating in the liquid biopsy market include Illumina, Inc., Roche AG, Natera, Inc., Laboratory Corporation of America Holdings (LabCorp), Qiagen N.V., Thermo Fisher Scientific Inc., Exact Sciences Corp., Biocept, Inc., Genomic Health, Inc., Guardant Health, TrovaGene Inc., CareDx Inc., Adaptive Biotechnologies Corporation, and Biocartis SA.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
